Crisis Real Estate Investing
Name Your Own Price In These Crisis Markets
Oct. 8, 2009
Panama City, Panama
PLUS:
- "We Are Open For Business!"...Panama's President Makes An Impression In The Big Apple...
- Nicaragua Remains A Buyer's Market...Our Editor Is Off To Scout The Best Current Crisis Investing Opportunities...
- Ireland, Too, Is A World-Class Crisis Opp Marketplace...
- Secrets To Wealth Building, Tax Savings, And Asset Protection In The Caribbean...
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Dear Live and Invest Overseas Reader,
Straight to the news...
"Greetings from Granada," writes Central America Correspondent Michael Paladin, "where it remains a buyer's market.
"The Nicaraguan government is working hard to attract the retirement crowd. Pro Nicaragua will be attending the AARP national convention in Las Vegas this month, where they'll be offering 150 people airfare and a free tour to take a look at established development and retirement communities in this country.
"Nicaragua has recently redrafted its foreign retiree program, greatly improving the benefits package. Bottom line, a retired couple could live comfortably in this country on as little as US$800 to US$1,200 per month, including entertainment, movies, golf, and dining out."
We've been big fans of this misunderstood little country for a long time and are dispatching Editor Rebecca Tyre this weekend with the following directive: Scout out the best down-market opportunities currently on offer. Rebecca will return to Panama City just in time to share her finds with attendees at next week's Global Real Estate Profits Summit. (The event kicks off mid-afternoon on Thursday, Oct. 15. A few last-minute places remain in the room; details here.)
As we've reported, little Ireland has lately found herself at the center of a big brouhaha. A year ago, Irish voters rejected the Lisbon Treaty, as the proposed new EU charter is known. Please vote again, the EU requested of the Emerald Isle. Earlier this week, Ireland held a second referendum, and, to Brussels' relief, the Irish voted the right way this time. The EU will continue to pursue its plan for growth and expansion...and Ireland will not be dis-invited to the party.
Meantime, as we've also been reporting, right now is the best time in at least a decade to think about launching a new life in retirement in the Auld Sod. Lynn Mulvihill, Editor-in-Chief of our Overseas Retirement Letter, hails from Ireland's Sunny Southeast. I asked her, therefore, this month, to share a full from-the-scenes report on the re-emerging opportunities for retirement in one of the world's longest-standing overseas retirement havens. In it, Lynn focuses on a little-known but beguiling coastal region of her homeland, a beautiful spot, where, for the first time in a long time, it's not wholly unrealistic to think about setting down retirement roots.
And it's not only the cost of living that's more affordable than it has been in recent memory, but the cost of real estate, as well. Property prices Ireland-wide are down as much as 50% and more from their hyper-inflated levels of two years ago. The crisis buy opportunities abound.
Lynn's report, featured in the current issue of our Overseas Retirement Letter, is a treat. It's made me homesick for this part of the world we called home for seven years.
If you're not yet an Overseas Retirement Letter subscriber, you have a limited-time opportunity right now, during our First Birthday Celebration Sale, to try a trial subscription for US$1. Full details here.
Friends with a long and successful history of investing and doing business in Belize are holding a Cayes to Wealth and Security Conference on Ambergris Caye next month (Nov. 12-14). The focus will be on wealth-building, tax-saving, and asset-protection issues, including the "Stop Tax Haven Abuse Act" under discussion by U.S. Congress and regulatory changes to which types of offshore assets an American must declare to U.S. tax authorities (insurance, for example, for the first time).
Real estate, of course, remains an asset that triggers no reporting requirement in the United States, and it will be an important point of focus throughout this timely event, as will discussions of the benefits of offshore residency and foreign citizenship in the world's top havens (Belize certainly qualifies, with its QRP program for foreign residents).
I'm trying to work my schedule so I can participate and address the group, so I may see you there. I appreciate any excuse to spend time in this country. For more information, get in touch here.
"We are open for business!" declared Panama's new President Ricardo Martinelli to New York City and the world last week. Martinelli was in the Big Apple to participate in the UN General Assembly, but he took he visit as an opportunity to make an impression.
"We have a new government led by two businessmen," Martinelli explained during a CNN interview. "We are not politicians."
More than simply the Hub of the Americas, Martinelli continued, he and his new administration are committed to "making this country an investment hub," as well. "We have a current growth rate of 3% and plans for sustainable growth that should be attractive for investors worldwide. We are going to turn Panama into the Hong Kong of the Americas."
The longer we're here, the more impressed we are with the advantages of living, investing, and doing business in what is, marketing hype aside, a land of opportunity right now.
Meantime, property markets across the country, especially in Panama City, have slowed, creating a window. Long term, I'm confidently bullish on what this country will deliver. Right now, though, you have a chance to buy in on a dip. More tomorrow...
Kathleen Peddicord
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"In your 'Settling In In Southwest France' issue, Kathleen, you indicate that I'm reporting from Languedoc. I don't mind at all, but I wouldn't want a careful reader pointing out that, in fact, I'm in Aquitaine, not the Languedoc.
"Strictly speaking, both are in southwest France, but as I've now explained to readers that we have put down roots in Aquitaine, it's probably clearer to stick to that."
-- France Correspondent Lucy Culpepper
Indeed, Lucy...thanks for setting me straight.
"Enjoyed your Correspondent's report from the South of France. This part of the world was my first choice...years ago. Still would be if I had the moola..."
-- Harry G., United States
Even Paris can be a more affordable place to live than you might imagine, but, elsewhere in France, certainly in this other south of France where Lucy has settled, you could live well on a budget that qualifies as better than modest.
And that's the point, isn't it? Not only to live on little...but to enjoy a big quality of life while you're doing it.
I'd argue that nowhere serves up better living than France. So, as you consider the world map for possible overseas retirement havens, don't take this country off the list prematurely because you think you couldn't possibly afford to live there. Not everyone is cut out for life in the Tropics or the developing world. If you prefer what the Old World has to offer, this other south of France is perhaps your best option right now. As Lucy explains, this region is "colorful, eclectic, always changing, never following a formula, and very open to retirees." This is wine country, with a long history and a lot of heart.
And, again, this region is more affordable than you might ever imagine. Lucy's budget shows that a retired couple could live here on as little as US$1,500 per month.
Lucy tells you more in her complete Country Retirement Report, available here. |
