Recent Article by Kathleen Pedicord from LiveandInvestOverseas.com
Where should you spend your Retirement!
Swaying away in a hammock on a Caribbean beach?
Or perhaps you daydream about a Pacific coastal hideaway with the crashing surf just beyond your back yard?
Maybe you want city distractions to keep you occupied in your retirement years…or, maybe, you yearn for nothing more than a few private acres in a cool mountain region where your neighbors would be few and the views and the climate idyllic…
Beach, city, mountains…in the Americas, on the Continent, or in Asia…the very appealing, affordable, safe, beautiful, and welcoming options for your retirement are many.
How will you choose? Where should you go?
As friend and recent expat resident of this country Lee Harrison put it in a report he has filed this week for publication to our Global Property Investor’s Marketwatch members, “Uruguay seems unstoppable. Despite the world’s economic conditions, property investments in this country have continued to perform admirably for the foreign investor.
“In Montevideo, real estate prices rose more than 22% just last year…while in selected neighborhoods in Punta del Este, prices climbed as much as 50%. In Colonia, one plot of land I looked at along the waterfront has jumped an amazing 500% since 2005.
“Uruguay, as viewed by the North American, has changed since I arrived on the scene in 2004. Most notably, costs have risen thanks to the strength of the Uruguayan peso and the sinking value of the dollar. But even as the cost of living and of real estate rose, Uruguay became evermore popular, as both a lifestyle and an investment destination.
“Then the recession began. And, to be honest, as a resident and property owner I was concerned. According to an army of newsletter writers, the whole world would be dragged down, and stay down way past the end of my lifetime.
“But an odd thing happened. It seemed that the weaker the superpowers’ economies became, the more people found appeal in Uruguay; a stable commodity-based economy with a sound banking system. Money poured in to Uruguayan banks from around the world, and Uruguayan properties became hot investment targets.
“Then the increased political turmoil around the world brought even more people to this tiny country. Uruguay is neither an aggressor nor a target of aggression in the world arena, and it’s not a high-stakes player in world politics. So whoever takes power as a result of the Arab Spring won’t matter here…pieces falling off the EU will have little effect…and if Israel’s lobbyists are successful in getting the U.S. to really ‘get tough’ with Iran, the resultant risks won’t impact Uruguay.
“Accordingly, people are coming to Uruguay in record numbers, with residency applications up over 300% since 2007…many of them coming from the U.S…”
Lee will pick up the conversation here in Scottsdale in April 2012.