1What $/m² means
The price per square meter divides a property's value by its area. It helps you compare areas and detect whether a home is cheap or expensive relative to its surroundings. The problem is that not all $/m² figures mean the same thing: one may come from a listed asking price, another from a registered sale, another from a cadastral appraisal, and another from an automated estimate.
Terraes shows the figure with context: source, coverage, and whether the city is calibrated with market signal or only has cadastral reference. That label matters as much as the number.
2Table by city
This table uses the same source as the public Terraes map. To compare, open the city and drill down to the neighborhood detail:
| City | Median / reference $/m² | Coverage |
|---|---|---|
| Cartagena | $7,1 M/m² | Cobertura media |
| Medellín | $6,7 M/m² | Cobertura media |
| Bogotá D.C. | $6,0 M/m² | Cobertura amplia |
| Pereira | $4,7 M/m² · cadastral ref. | Cobertura limitada |
| Bucaramanga | $4,3 M/m² | Valor de mercado — cauteloso |
| Cali | $4,0 M/m² · cadastral ref. | Referencia catastral |
| Barranquilla | $4,0 M/m² · cadastral ref. | Referencia catastral |
3Why the neighborhood rules
A city's average can hide enormous differences. In Bogotá, for example, the m² of the most expensive neighborhood in the sample is worth roughly 1,4 times that of the cheapest neighborhood. That's why a national table is useful to orient you, but the real decision is made by neighborhood, property type, and specific condition.
- Asking price: reflects the seller's expectation and tends to sit above the closing price.
- Registered sale: improves the signal, but may arrive with a lag and without all details visible.
- Cadastral reference: serves as a fiscal or administrative anchor, not as a direct market price.
4How to use it
To estimate a home, multiply the built area by the neighborhood's $/m² and adjust for condition, age, floor, view, parking, HOA fees, and legal status. If the property is atypical, the neighborhood $/m² is only an initial reference.
If you need a value for a bank, succession, a formal sale, or a court proceeding, request a commercial appraisal from an appraiser registered with the RAA. If you need to correct the property's official value, check the cadastral appraisal review guide.
5Frequently asked questions
What is the price per square meter in Colombia?
It depends on the city and the neighborhood. In the cities where Terraes calibrates market value, the sale median ranges from $4,3 M/m² in Bucaramanga to $7,1 M/m² in Cartagena. In Cali, Barranquilla, Pereira we show cadastral reference until there is sufficient market signal.
Why use the median and not the average?
Because the average gets distorted by a few extreme properties. The median is the middle value: half the sample falls below it and half above.
Is the asking price the same as the sale price?
No. The published asking price is what the seller wants. The registered sale is a stronger signal, but it isn't always available at the same level of detail. Terraes keeps sources separate so it doesn't present every figure as if it carried the same confidence.
Can I multiply area by $/m² to know how much my house is worth?
Yes as a starting point, not as a certified appraisal. Multiply the built area by your neighborhood's $/m² value and adjust for condition, age, floor, view, parking, and legal status.
Is the Terraes $/m² a cadastral appraisal?
Not necessarily. In calibrated cities it is market guidance; where there isn't enough market it may appear flagged as cadastral reference. The official cadastral appraisal is issued by the cadastral authority.
Terraes publishes market guidance using public and listing data. It does not replace cadastral appraisals issued by the competent authority, nor commercial appraisals certified by appraisers registered with the RAA.