This is the nicest raw beachfront lot I’ve stepped onto in a long time. Warm breezes clear the scant, broken clouds, opening up a big blue sky. The sea is blue turning turquoise as gentle waves roll in. It’s a picture-perfect vista and setting. The beach stretches as far as the eye can see. Sandy points frame the horizon in both directions. In the distance giant dunes dominate the landscape. This beachfront lot is like a little oasis. Wild-growing palm trees sway. Colorful flowers crawl up walls and sprout from hedgerows.
Mexico’s Riviera Maya runs south of Cancun to Tulúm. The sand is white…and the water, turquoise. In the jungle, you’ll find Maya ruins. Offshore, the world’s second-longest coral reef is home to brightly colored fish. The biosphere at Sian Ka’an is a great place to hike, kayak, and study nature. The coral reef offshore attracts divers and snorkelers. Golf, hiking, spelunking in ancient caves…it’s all here. Tulúm is, and will stay, boutique. The Sian Ka’an biosphere means that much of the land is protected. Development will be low rise and low density—that’s if and where it’s permitted. Yet, amazingly, you’re just a 90-minute drive to the airport and two hours in the air to the U.S.
With stress-melting coral-sand beaches, warm tropical seas, an eclectic mix of welcoming locals and friendly expats, and international dining, the Dominican Republic epitomizes the laidback, sun-kissed lifestyle the Caribbean is known for. And you don’t have to be rich to buy a home here. I explored two up-and-coming beach towns, Cabarete and Las Terrenas, which offer exceptional Caribbean island value; you’ll find newer condos starting at $100,000, sometimes even less. Even better, many properties on these sumptuous stretches of coast will cover all your ownership costs and could even make you a profit. This is among the very few places left in the Caribbean where you can buy affordable, quality properties and take advantage of a robust rental market.
In the early and mid-2000s, Europe’s real estate markets embarked on a massive tear. People re-financed, often to buy a vacation home or make a speculative investment in Europe’s sunnier locales. Values rose and rose…until everything stopped. The market imploded and real estate owners found themselves deeply under water. By 2009, with a few exceptions, Europe’s real estate markets had halted. Transactions simply stopped. The gulf between sellers’ expectations and what buyers were willing to pay was so great that there was nowhere for them to meet. Now markets are moving again. And in four countries in particular—Ireland, Portugal, Greece and Spain—I see opportunity today. An added plus is the current strength of the U.S. dollar. At time of writing, your U.S. dollar buys you 24% more euros than it did in March 2014. Now, I’m not a currency guy, and I’m certainly not making a call on future euro-dollar exchange rates, but it makes European opportunities all the more attractive right now.
Imagine waking up in the morning and enjoying a leisurely cup of coffee before heading out your back door to get breakfast. You gather eggs from your hens. Tomatoes, peppers, and herbs, all from your kitchen garden, as well as homemade goat cheese, are added for an excellent omelet. The fresh-squeezed orange juice comes from your trees. Life in the cities and suburbs of the U.S. can mean being far removed from the origins of the food we eat. If you dream of getting back to the land, you’ll find hobby farms with fertile soil, ideal growing conditions, and great locations throughout the world.
Today real estate shoppers in Spain will find good-value properties at bargain prices in three scenic mountain towns—Mijas, Ojén and Torrox—located 30 minutes from the popular resort town of Marbella. With more than 2,800 hours of sunshine a year, this region attracts travellers and expats looking to escape a harsh winter back home and save money at the same time. “A couple can live well for about $2,400 a month, including $600 in rent,” reports InternationalLiving.com editor Nazareen Heazle.
For more than 11 years I’ve traveled all over Latin America. From the U.S.-Mexican border all the way to Argentina, I see firsthand the opportunities this vast land has to offer. I’ve never seen a better time to invest in development land in Latin America than right now. The biggest returns in development come to the earliest speculators who take positions. You don’t need deep pockets to invest in development land—if you know how to do it. Nicaragua, for example, is a country of stunning natural beauty and abundant resources. It has a young population and its economy is catching up from a very low base. It has great potential as a retirement and vacation locale for North Americans. In the early 2000s, money and people raced in. Many didn’t have the skills or the experience to develop real estate.
A populace that appreciates art, a local government that supports artistic endeavors, and a network of galleries to show your work…these are key ingredients for artists choosing a place to live. Surroundings that inspire creativity, whether through architecture, natural beauty, or indigenous influences, are also important. Finally, affordable accommodation and studio space are vital as well. A place where you can live well on a little income and concentrate on your work. Fortunately, even as artists get priced out of metropolises like New York City and Paris, other cities have stepped in. These havens can be found around the world. And even if you’re not a painter or sculptor, these cities are great for those who love and appreciate art…not to mention perfect places to sample new styles and snap up unusual pieces at bargain prices.
Some things haven’t changed at all since I moved to Ireland. Friday night’s throb of bodhran drums in Cryan’s bar. The shy Sitka deer flitting out of the woods like shadow creatures from a Celtic twilight. The swans that come to over-winter on the loughs (lakes). The man with the van selling home-grown potatoes… Others things have changed. The house prices that soared ever upwards during the boom years have come now down, down, down. In Lakeland counties and villages along Ireland’s longest river—the Shannon—numerous properties are on the market for under $150,000.
Hip, trendy, vibrant… Those three words sum up Playa del Carmen, Mexico. This is a boomtown, plain and simple. Over the past 20 years, the population has exploded. Fifth Avenue, the main shopping and entertainment drag, is described locally as the longest pedestrianized street in the Americas. Each time I visit—that’s every month for the last three months now—it feels like new blocks have sprung up and fashionable restaurants and boutiques have opened their doors.
It’s a sun-drenched morning as I stand at a lookout point above the town of Mijas. Below me, the gleaming white buildings, with their roofs of rust-red tile, tumble down the mountainside. The pine-covered hills of the Sierra de Mijas mountain range reach up into the clear sky to my right. On my left, I can see the Costa del Sol—the Sun Coast—with the glittering Mediterranean Sea stretching to the horizon. It’s a comfortable 66 F here in Mijas, which is located in southernmost Spain. With more than 2,800 hours of sunshine a year around these parts, it’s the perfect place to escape a harsh winter back home.
The decade leading up to 2006 saw Ireland suffer through one of the biggest real estate bubbles on earth. The real estate market stalled in 2006/2007, amid rumors that transfer taxes were set to be reduced. Then in 2008 the crisis hit. In 2009, the global financial crisis rolled through, flattening Ireland’s entire banking sector and economy. In your July 2011 edition, I reported how Irish real estate was available at a discount of 80% on peak prices. Today, Ireland’s real estate market is bouncing back. News stories are filled with talk of housing shortages and fast-rising values. These reports are correct. There has been a strong surge in demand for family homes in desirable areas of Ireland’s main cities. The big buying opportunity here has passed, but right now Irish real estate is a tale of two markets.
Encompassing Mexico’s Yucatán Peninsula, Guatemala, Belize, and parts of El Salvador and Honduras, La Ruta Maya (the “Maya Route”) covers the territory of the Maya civilization, which reached its height from 250 to 900 A.D. One of the New World’s most advanced cultures, the Maya had written language, mathematics, a sophisticated calendar, and architectural skills that saw them construct massive temples and spectacular cities, many of which still stand. However, the Maya were never a single empire; rather, kings ruled over small territories surrounding a city.
Foliage presses up against the perfect, charcoal gray road. Though this time of year is known as the “rainy season” in Panama, the sky in this region is a powerful blue, and the sun is shining hot and strong. It’s quiet, and I pass very few cars…and perhaps just as many horses. For my recent scouting trip I drove the five hours from Panama City to Pedasí, a town of about 2,500. It’s a place that’s been growing in comfort and convenience— slowly but surely—since 2004. Over the past couple years in particular, it has become a burgeoning expat hub. Still, it remains a place where a couple can live on $1,300 a month including rent, and as little as $950 if they own.
Contrary to what your broker, banker, or financial advisor has probably told you, you can own just about anything in your retirement account—not just the products they choose to pitch at you (generally stocks and bonds). You can own all sorts of investments within your Individual Retirement Account (IRA)—and 401(k), too, for that matter—including foreign real estate. Most IRA custodians have a list of approved investments that they won’t deviate from. I do understand why they keep options so limited: They must endure grueling audits. If they do anything wrong, they can be fined or shut down by regulators. It’s just easier to say “no” to anything even slightly off the beaten track.
The original Riviera (from the Italian word for “seashore”) sprang up in southern France and the bordering region of Italy. Upper-crust Brits, northern Europeans, and—later—well-heeled Americans flocked here for the beach resorts, casinos, and parties. Author F. Scott Fitzgerald had a villa here in the Jazz Age, although it’s said he was a horrible party guest. The term riviera has been adopted by regions all over the world, in places where the sun, surf, and vacation vibe live on. And when we hit the new-school rivieras in the developing world, expect to get a real bang for your real estate buck.
Carlos stares into the afternoon sky, scans the horizon, and glances at his cell phone to check for messages. Then, using his machete and with a few deft flicks of his wrist, he slices through the scrub. Brightly colored butterflies float on the breeze. Whenever they come close, Carlos gently brushes them away from us and away from any danger to them. Carlos, though hardly five feet tall, wears the wide smile common among Mayans. It’s contagious. He’s one of the most successful developers on the Riviera Maya but here in the scrub, he’s a world away from bustling Mexico City where he spends a lot of his time. In the Riviera Maya is where he’s at his happiest—not in any boardroom or first class airline seat.
Imagine a morning walk that takes you along a winding path shaded by towering pines. Nestled in the woodland around you are homes with pleasant gardens, flower-filled pots and bougainvillea-draped walls. A few minutes is all it takes to reach the low-slung dunes. You pause on top to take in the view: 18 miles of brilliant golden sands fringing the warm tropical waters of the South China Sea. About 10 miles out are the Cham Islands, a biosphere reserve where you can dive on coral reefs and explore the ancient ruins of the Cham civilization.
This valley reminds me of the Blue Ridge Mountains of North Carolina. Here, as there, ancient rolling hills are blanketed in a mix of pines and broadleaves. Then the bus I’m on passes a clutch of palm trees. Okay, not quite North Carolina. The Serra Gaúcha region, in southern Brazil, is practically unknown abroad, but it’s very popular with Brazilians. They flock here to enjoy the temperate, highland climate, so different from much of mostly-tropical Brazil. (Serra, in fact, means “highlands.”)
We typically see Path of Progress opportunities in places that are on the up…we usually discover distressed opportunities by finding high-quality inventory somewhere that’s broadly in crisis. It’s rare that we see the convergence of both these trends—but today that’s the opportunity we have along a stretch of Spain’s Costa del Sol. San Pedro is a pleasant sleepy Spanish town of leafy squares and pedestrian streets. Marbella is 12 minutes away (by car…25 minutes by public bus).
Right now, you could buy your own piece of property right off the beach in Brazil…in a location where millionaires are putting their vacation homes…and all it will cost you is a few hundred dollars a month. The beaches here are spectacular—brilliant-white sand stretches for miles. Along that long stretch of coastline, multi-million-dollar homes are dotted. Over the past decade this part of Brazil has enjoyed an economic transformation. Very little has happened here—but now we’re seeing an opportunity.
Last month I visited the historic Gangi in Sicily, a 14th-century hamlet voted ‘Most Beautiful Village in Italy” this year. I was there to scout out undervalued real estate—and you can’t get more affordable than what Gangi offers. I’d heard that Gangi was pretty special—besides being home to an incredible real estate opportunity, it’s a hidden gem whose beauty and historic significance has been overlooked by all but the savviest vacationers.
Not so long ago, you could pick up properties around my home province of Chiriquí for a fraction of their boom-time prices. In the hills and villages around Boquete, where an estimated 12,000 expats live, spacious mountain-view homes were selling for as much as 50% off. This drop was due to the 2008 financial crisis, which left many North Americans and Europeans with homes in these lush valleys in need of funds.
“The developer here is in jail…” is something I heard a lot. It was alarming…but in a way, it was reassuring, too. Puerto Vallarta—one of Mexico’s most popular expat destinations— is home to an estimated 10,000 North Americans living here full-time. They chose Puerto Vallarta for good reasons. Puerto Vallarta sits at the foot of the grand Sierra Madre mountains that sweep down to the Bay of Banderas. It’s a warm and sunny spot with tropical beaches, fresh ocean breezes, and temperatures that average 73° F to 83° F all year.
I’m a daydreamer and a traveler at heart. One of my favorite ways to pass time is to imagine where else I might want to live one day. A recurring dream involves a cabin in the jungle where I would wake to the songs of carefree birds, the chatter of mischievous monkeys, and the rustle of a light breeze playing through overhead palm fronds.
If you have preconceptions about the Dominican Republic, put them aside. Most North American tourists head to the beautiful beaches and all-inclusive resorts of Punta Cana. But the opportunity for profitable real estate investing is elsewhere— somewhere a beach-town pad could be a great earner when you’re not using it.
Bram Stoker never visited Transylvania. Instead, the Irish-born novelist relied on dusty old volumes from London’s libraries and second-hand stories from Ármin Vámbéry, a Hungarian writer and traveler with whom he was well acquainted, to inspire and inform his neck-biting masterpiece, Dracula.
Uruguay is the most economically, politically, and socially stable country in the region. The property registration system is among the best in Latin America. And you don’t need to become a resident or get a local tax ID number to buy, own, or sell real estate in Uruguay. Even though real estate values have climbed in recent years, with a little research it’s still possible to buy property in the most popular areas of the country for a very reasonable price.
Slow-to-recover real estate markets across Europe are producing pockets of great value, report the editors at InternationalLiving.com, whose new report highlights an array of attractive properties on offer for less than $150,000 in France, Italy, Ireland, Spain and Greece.
It’s a quiet day in late June on the beach in Deauville. As I walk along the water’s edge, golden sand crunching beneath my toes, it almost feels as if the mile-long beach is all mine. Tranquility reigns right now, but a change is coming. Near the boardwalk, row after row of multi-colored beach parasols, elegant as Ralph Lauren models, are standing as ready as soldiers.
South of Colombia’s Coffee Triangle, the Pan-American Highway wends through the foothills of the Central Andean mountain range and into the Cauca Valley. Haciendas, orchards, and colorful fruit stands line the road and the air becomes warm and moist. Just past Tuluá, the sky seems to expand and the horizon fills with sugar-cane fields as far as the eye can see.
I regularly meet readers who are smart and cautious when it comes to buying a property back home. They hire an attorney, they check their sale contract carefully, and they investigate every little thing that could affect the value of the property. But for some strange reason, when they’re buying overseas, these same people forget their common sense.
Land in the Tulum area on the southern edge of Mexico’s Riviera Maya can be a strong opportunity…as long as it’s the right land. On my recent scouting trip I put boots on the ground at more than a dozen interesting communities (including some planned lot communities). As long-time readers of Real Estate Trend Alert know, Tulum is stunning. It’s home to some of the world’s finest white-powder beaches…backed by palm trees that rustle in the Caribbean breezes.
Thanks to Europe’s financial and economic crisis, you’ll find some of the best real estate values in the best parts of Europe right now—and some of the best opportunities to profit. Specifically, the deals are to be found in Ireland, Portugal, and Spain. These places were hit hard by the crisis—and pricings finally reflect that.
I spend up to two weeks a month scouting out the best real estate opportunities for Pathfinder. It’s part of my job. And I enjoy every minute of it. Because I spend so much time on the road, I’m a huge fan of vacation rentals. I get more space than a hotel room and a lot more privacy. And I get to experience life as a local, buying groceries and eating at cafés and restaurants close by.
Right now, in Mexico, there’s a place where rich celebrities, like Cameron Diaz, Demi Moore, and Orlando Bloom come to hang out…but where you can still buy a condo without the millionaire-price tag.
Most folks think that finding a property overseas that fits their tastes and budget is tough. In fact, it’s much easier than they think. There’s plenty of opportunity out there when you know where to look, even when you’re on a tight budget.
Many Americans of or near retirement age count their IRA as their greatest source of wealth. But despite contributing as regularly as they possibly can and watching their nest egg grow, many of those same people are at a loss when it comes to deciding how to make that investment grow further.
What’s not to love about cultural riches and cobbled charms? Throughout most of Europe, the property market remains in the doldrums, which means you can find bargains. From the Atlantic to the Mediterranean…from Ireland to Greece, there’s a tempting array of move-into properties that will leave you change from €100,000 ($137,000).
It’s called the “Old World” for a reason, and despite two world wars and decades of development, history is evident in the architecture of Europe. You can stroll cobbled streets where lords and ladies once rushed to galas, climb castle steps in the footsteps of armored knights, and explore villages preserved for 500 years or more.