What Medellín’s New Build-to-Rent Developments Offer Tenants-and How They Stack Up on Affordability

A new wave of build-to-rent (BTR) apartment towers is opening across Medellín this year, with developers promising hotel-style amenities for local tenants-if they can afford the rents. Projects like Kubra Living on Calle 10 in El Poblado and Alameda 74 near Laureles’ avenida San Juan are among several to open since January, collectively offering more than 800 new rental units targeting middle-income professionals.

The uptick in purpose-built rental housing comes as traditional homeownership is drifting out of reach for many paisas. Rising mortgage rates and sharply higher down payments are freezing thousands of would-be buyers out of the market, leaving them to rent for longer periods just as BTR complexes become the new face of renting in Medellín.

Next-Gen Rentals: What’s Included?

Unlike conventional apartments rented directly through owners or real estate agencies, build-to-rent developments in Medellín offer a more “move-in ready” experience. Alameda 74’s marketing manager cited package deals: unfurnished or furnished flats, all-inclusive utilities, shared rooftop pools, coworking lounges, and even on-site gyms. At Kubra Living, rents for a 40 m² one-bedroom start at COP 2.3 million per month and include WiFi, cleaning services, and access to a 24-hour concierge.

Tenant groups argue that these extras justify the premium-but acknowledge not everyone can afford to live in a BTR tower in a prime location. In traditional Laureles buildings, a comparable apartment might rent for COP 1.3 million. The added amenities and new construction account for the upcharge, but critics point to longer-term implications: fewer affordable units available for families, and a slower path to ownership for Medellín residents on modest incomes.

The Numbers: Costs and Choices

The math has changed quickly in the past year. According to BIENCO Inmobiliaria, the median sale price of a two-bedroom apartment in El Poblado hit COP 590 million in June 2026, compared to COP 520 million a year ago. Median rents for similar size units in BTR towers sit at COP 2.8 million, while legacy flats go for around COP 1.7 million. Meanwhile, central city mortgage rates remain above 14%-the highest since 2021-forcing many young professionals to postpone buying until conditions improve. A household earning the city’s average salary of COP 3.5 million would need at least 15 years to save the typical down payment required by local banks, especially as rent eats up more than half of monthly income in El Poblado and Laureles locales.

The BTR model is filling a gap left by these financial pressures. Operators including Habitus and Metrópolis Leasing have announced plans to launch more than 2,000 units, with new buildings planned for Ciudad del Río and Laureles-Estadio over the next 18 months. City housing officials told the Daily Medellín that BTR projects could absorb urban migration and ease pressure on traditional rentals, but warned of a "missing middle" if prices continue to escalate above inflation.

Deciding What Comes Next

Tenants weighing their next move should closely compare the extra costs and contracts of BTR towers versus traditional apartments, especially with rents trending up citywide. Experts recommend seeking flexible lease terms-some BTR operators offer renewals capped at inflation-while using government-backed portals like Finca Raiz to check price trends in targeted neighborhoods.

City council debates on July 11 may bring updates to Medellín’s housing incentive program for first-time buyers, potentially shifting the market by late 2026. For now, tenants like Andrés Soto, recently relocated to Laureles, say BTR is a comfortable-if costly-answer to an era when owning a home feels further away than ever. "The gym, coworking, and rooftop make it easy to stay, but I’ll keep watching for a chance to finally buy," he told me outside Alameda 74 last week.