International Living (
http://www.internationalliving.com/), a magazine devoted to finding the best bargains in international living, pegs these as the 10 global “hot spots” for Americans looking for vacation homes in other countries.
Buenos Aires, Argentina. The Argentine peso, after nearly a decade pegged to the U.S. dollar, has leaped from a low of 19 cents to around 34 cents. But bargains still abound. For investors willing to move quickly, the opportunities in this cosmopolitan city are promising.
Chiang Mai, Thailand. Chiang Mai, Thailand’s arts and crafts center, was founded in 1296. The land is a patchwork of misty hills, rice fields, and jungle, and the city’s surrounding province is home to numerous hill tribes. It’s possible to buy attractive two-bedroom homes for less than $50,000.
Costa Maya and Laguna Bacalar, Mexico. The Mexican government is committed to transforming Costa Maya into its next great tourist destination by installing millions of dollars worth of infrastructure, including new roads, telephone and electricity networks, houses for employees, marina and beach installations, and docks for cruise ships. Property prices are on the rise and may one day rival the prices in Acapulco and Cancún.
The Mayans called Laguna Bacalar the “Lake of Seven Colors” and believed it was a magical place. Today, the area is an undiscovered gem. But, as development continues in the Riviera Maya region, this lake will begin to receive attention.
Dubrovnik, Croatia. A former city-state that once rivaled Venice, Dubrovnik dates back more than 1,300 years and is considered by many to be “The Pearl of the Adriatic.” With Croatia seeking membership in the European Union, prices are likely to climb in the next several years.
La Ceiba, Honduras. La Ceiba, the third-largest city in Honduras, has grown along with its ecological tourism and agricultural industries. La Ceiba residents enjoy Carribean beaches, mountains, and rivers. Construction prices start at just $35 per square foot for a simple, wooden house.
Montenegro. This small country in southeastern Europe borders the Adriatic Sea between Albania, Bosnia, and Herzegovina. Prices are less than $75 a square foot, although Russian buyers have pushed up prices for oceanfront lots. In a good location near the shore, houses typically sell for $150 to $200 per square foot.
Pacific Coast of Nicaragua. Pacific Coast property in Nicaragua remains one of the world’s best bargains. This dramatic coastline has rugged shores, cliffs and rocks, crashing surf, hidden coves, and pinkish white sand. Residents enjoy beaches reminiscent of Costa Rica or southern California, but at one-quarter or one-tenth the cost, respectively.
Panama City and Volcán, Panama. Panama is typically categorized as a Third World country, but the infrastructure, diversity, and sophistication of the country, especially in Panama City—with a metropolitan population of more than 1 million—tell a different story. The turnover of the Panama Canal in 1999 brought a glut of first-class properties to the market.
Volcán, located in the Chiriquí province in the west, offers spring-like climate year-round, fresh mountain air, and beautiful scenery. Buyers will spend half as much to own here but will miss some of the amenities and infrastructure of nearby Boquete.
