Oct. 15, 2009
Granada, Nicaragua
PLUS:
- Top Five Places In The World To Retire On A Budget Of US$1,500 Per Month...
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First Anniversary Celebration
Means Our Best Sale Ever
Since its launch one year ago this week, the
Overseas Retirement Letter has helped thousands of readers begin to make the leap and launch their adventures abroad.
To celebrate, and through the end of this month (Oct. 31) only, you can:
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The pages of the calendar are turning. Let us help you launch your own retire overseas adventure today!
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Dear Live and Invest Overseas Reader,
"I'm about to wrap up my quick trip to
Nicaragua," writes resident Editor Rebecca Tyre. "I've been very impressed with what I've seen.
"I've strolled down the interlocking brick streets of downtown Granada...enjoyed a leisurely drive through the forest-covered mountains...and a pleasant day on the country's beautiful Pacific coast. My conclusion? Nicaragua is one of the most beautiful countries in the Americas...and one of the most affordable.
"It's also a market that has been impacted dramatically by the current global recession. North American expats I've spoken with this week report that real estate prices have dropped by as much as 40% in the past 12 months. For the first time in years, it's possible again to buy a small house in Granada for US$40,000 to US$60,000.
"More interested in sand and surf than colonial charm? It's also possible in Nicaragua right now to purchase a
casita in one of the country's premier private,
gated oceanfront communities (boasting one of the two golf courses in the country) for US$100,000.
"A meal in a downtown Granada restaurant can cost as little as US$3...or as much as US$40 if you decide to splurge at one of the up-market bistros that line the central square. A taxi across town costs about 50 cents, and a locally brewed beer is just US$1.
"Gas and electricity are two of the biggest expenses in Nicaragua, with a gallon of regular gasoline costing more than US$3. Expats report that you should count on US$50 a month for electricity, even if you don't use air conditioning.
"The lowlands of Nicaragua are steamy. This is the rainy season, but the country is experiencing a drought. Fields that should be a lush green this time of year are golden brown. Farmers are losing their crops.
"Between the weather and the Sandinistas, the average Nicaraguan is struggling. The Nicaraguans I spoke with told me the poor have gotten much poorer since the Sandinistas returned to power in the form of current President Daniel Ortega. Europe and the United States have stopped sending money; foreign investors have been scared off.
"There's even talk that the Ortega clan may try to change the law so that he can serve another term as president.
"The foreign residents living in Nicaragua, though, tell me they are not impacted by these things. Crime is low in this Central American country, and the police are effective. Expats living in the towns I visited are happy and relaxed. Most say they have no intention ever to leave.
"Having spent time here now myself, I understand. I don't want to leave either."
Kathleen Peddicord
P.S. We're sorry, Rebecca, but you're going to have to get on that bus bound for Panama City. We're looking forward to a full report of your findings in Nicaragua upon your return...
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In the most affordable private beach resort community in all Nicaragua, you can purchase a
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More details here
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Rebecca (I trust) is making her way back to Panama City, just as speakers and attendees for our
Third Annual Global Real Estate Profits Summit are landing in the Hub of the Americas. Friends and Correspondents from Argentina, Uruguay, Belize, Nicaragua, Portugal, and the Philippines (the last two are joining us courtesy of 21st-century technology and will be beamed into the meeting room) and a dozen other markets of interest are convening starting this afternoon at the Wyndham Veneto Hotel in downtown Panama City. Over the coming two-and-a-half days, they'll share details with those in the room of the best real estate investing opportunities to be found across the planet right now.
I, too, am on my way over to the Veneto as soon as I get this dispatch off to you.
Tomorrow, live from the scene...
"I read your
Overseas Opportunity Letter religiously, Kathleen. I got super excited by the item in the
Oct. 13 Mailbag from Jack A. in the United States He wrote to ask about where to find information on
renting overseas for three or four months a year. This is information that I am seeking, as well. I hope you will pursue this topic and let us readers know where such information can be found."
-- Alice B., United States
As I explained to Jack A. earlier this week, I'm on it. Watch this space.
"What are your top five picks for where to
retire on US$1,500 to US$1,700 per month?"
-- Howard R., United States
With that level of budget, dear reader, you could retire comfortably in more than a dozen countries. At the top of that list:
- Cuenca, Ecuador (Third World but beautiful...limited infrastructure but cheap)...
- Chiang Mai, Thailand (to be the special feature of the next issue of our Overseas Retirement Letter...this may be the cheapest place in the world to live well today)...
- Granada, Nicaragua (charming, welcoming, and cheaper right now than it's been in a half-dozen years...see Rebecca's report above)...
- Mendoza, Argentina (affordable wine country)...
- Languedoc, France (most affordable and appealing option on the Continent)...
