LIFE BEYOND FIRST CLASS
FINANCE
INVESTING IN IDYLLIC HOMES ABROAD
Global Real Estate Scout, Ronan McMahon's Compelling Case For Investing in International Real Estate.
LOUIS VANNI
Ronan McMahon's Real Estate Trend Alert (RETA) has recently released a comprehensive guide for international investors looking for affordable and desirable homes. The guide focuses on locations in Portugal, France, Italy, Spain, Ireland, Ecuador, the Dominican Republic, and Costa Rica. These areas have been carefully selected for their attractive settings and offer investors the opportunity to purchase affordable properties in idyllic locations. McMahon insists, "I'm talking about homes in stunning parts of the world, where the cost of living is less, the weather is good, the views are great, and the living is easy. Where you could own a piece of history, a base from which to explore the cultural riches of the Old World, somewhere with spectacular views to hide out and relax."
Portugal is highlighted for its low cost of living, good education, sound infrastructure, safe cities and towns, warm culture, and abundant, affordable properties. RETA recommends the area between Coimbra and the coast for its historic towns, convenient transportation, and beautiful Atlantic beaches. The upper Alentejo region is also recommended for those interested in an agricultural or mountainous setting.
France, particularly the Languedoc region, is recommended for its diverse landscape, which includes mountain ranges, gorges, hill towns, and uncrowded beaches. The property market in Languedoc offers affordable homes, many of which have undergone extensive renovations that have yet to be fully reflected in the selling price, making it an attractive option for buyers.
Italy offers remarkably low-priced real estate due to the country's economic difficulties. One can find bargains in beautiful settings ranging from lake houses to medieval towns, coastal regions like Amalfi, and cities like Florence. Italy also boasts a deep cultural heritage, world-famous cuisine, a Mediterranean climate, and a relatively low cost of living.
Spain provides a range of romantic settings, from historic villages and country homes to grand cities and sunny coastlines, all at very affordable prices. RETA recommends the south for its Mediterranean climate, idyllic white-washed villages, and real estate investment opportunities. The "Green Coast" in the north offers stunning mountain ranges and slightly rainier weather. The province of La Rioja, known for its vineyards, is also affordable. For city living, Valencia offers plenty of conveniently-located apartments under $150,000.
While not generally the most reasonable market, Ireland offers affordable homes in its verdant landscapes and beautiful coastlines. The western counties and the West Coast provide low-priced cottages amidst natural beauty and cultural history. The Beara Peninsula in West Cork is recommended for its nature and history, offering a wild, natural wonderland and charming fishing towns.
Ecuador's diverse scenery, ranging from cordilleras and volcanoes to rainforests and lakes, makes it an attractive location for expatriates. Real estate costs remain low due to primarily local participants, providing opportunities for opportunistic buyers. Cotacachi, a mountain village north of Quito, is recommended for its idealistic lifestyle and proximity to markets and amenities. The beach town of Salinas is another recommendation, offering year-round activity and affordable beachfront properties.
The Dominican Republic's town of Las Terrenas on the Samana Peninsula presents itself as an alternative to bustling tourist areas. It features a mix of foreign attention and old-world charm, with affordable properties available for purchase. Las Terrenas offers restaurants, cafes, bakeries, art galleries, and small hotels, many of which operate out of old fishermen's huts on the beachfront.
Costa Rica, known for its natural beauty, safety, and stability, welcomes expatriates. The Arenal region offers affordable property options with its green hills and volcanic peaks around a large lake. The area allows for various outdoor activities and has an existing expatriate community.
Ronan McMahon's Real Estate Trend Alert provides investors with a valuable resource for finding properties in desirable international locations. By focusing on attractive settings and financial return-on-investment numbers, RETA offers investors the opportunity to purchase a home abroad at a minimum expense in these idyllic locations.