Articles Related to Mexico



Good luck finding this level of sophistication and infrastructure anywhere else in Ecuador outside Quito (which we also would not recommend as a place to live).

Why Not Boquete?

Boquete has long been heralded by many (starting, in fact, with us, more than 15 years ago) as one of the world's top retirement havens. However, we decided not to include this Panamanian mountain town in our 2014 Index for two reasons.

First, the cost of living in Boquete continues to rise.

Second, you have other better choices elsewhere now, which we wanted to feature instead. We limit our Index to 21 destinations. This is an arbitrary restriction that forces some hard choices. The truth is, as more places worldwide become more appealing for the would-be retiree, other places, including some well-known, like Boquete, become less so. Boquete is still a great turn-key choice for overseas retirement, but we'd say it no longer belongs on a short list of the world's top 21 choices.

One big draw of Boquete is its large and growing expat community. If the idea of retiring to a place where many others like you have already paved the way and stand ready to welcome you to their ranks, you have other more affordable choices, including Cuenca and Chiang Mai, for example, both of which offer super-cheap, high-quality lifestyles (and both of which are included in our Index this year).

Puerto Vallarta and Barcelona are two other expat-friendly options featured in our 2014 survey. The cost of living is higher in Puerto Vallarta and Barcelona than in Cuenca and Chiang Mai...and higher than in Boquete. However, the cost of living isn't unreasonable for the quality of life available for purchase. The quaint mountain town of Boquete just can't compete for lifestyle with chic, cosmopolitan Barcelona or Pacific oceanside Vallarta.

Why Not Uruguay?

Uruguay has gotten expensive, too expensive for the lifestyle on offer, and it's likely to become more expensive still.

Uruguayans are used to the devaluation of their peso. They refer to appreciation as atraso cambiario, "the exchange rate is running late." Because of this phenomenon, prices for many big-ticket items in Uruguay (including real estate, cars, and even high local salaries) are quoted in U.S. dollars.

Why Not Brazil?

High crime rates keep much of Brazil off our radar and out of our survey. That said, south from Ceara to Natal, you can enjoy super-cheap coastal buys in safety.

Further, the bureaucracy, red tape, and corruption at all levels involved with getting anything done in this country are significant downsides to life here. The country doesn't make establishing residency easy and offers no retiree benefits program.

Also, Brazilians speak Portuguese, which, for most of us, is not as easy to muddle through as Spanish, French, or Italian.

Why Not Ajijic, Chapala, San Miguel de Allende, Or Merida?

Mexico offers many well-publicized options for the foreign retiree. Why did we choose Puerto Vallarta over the rest of the choices for our 2014 Retire Overseas Index? Because if offers the best option anywhere for the retiree looking for developed Pacific coastal living on a budget.

Nicaragua, Panama, Costa Rica, and Ecuador all also offer Pacific coast options, but none is anywhere near as fully appointed as Puerto Vallarta, which offers marinas, country clubs, golf courses, shopping, and fine dining. Yet, you could retire here on a budget of as little as US$1,910 per month, which is more than an average budget for other countries with Pacific coastlines in our Index but a very reasonable amount given the lifestyle on offer.

Why Not New Zealand?

We like New Zealand as a part-time retirement spot, but we didn't include it in our survey this year because it's just not a realistic full-time option for the typical retiree. The truth is, New Zealand (like Australia) isn't overly keen on the idea of foreign retirees and doesn't make it easy for the retiree to establish residency. In fact, in most cases, it's not possible.

Why Not Costa Rica?

About three decades ago, Costa Rica decided to make a business of the foreign retiree. The Costa Ricans invested in a formal and successful advertising campaign, targeting Americans primarily. Tens of thousands of would-be retirees from the States took up the invitation and relocated to this beautiful land of hills and rainforests.

The benefits Costa Rica offered retirees who became resident were terrific, including the original pensionado program against which others were measured for decades. In addition, way back when Costa Rica made a name for itself as a top retirement choice, the cost of everything from groceries and eating out to prime coastal property was super cheap. Fast forward a couple of decades, and, thanks to investors and speculators, Costa Rica wasn't so cheap anymore, neither its cost of living nor its beachfront real estate. And, while prices had risen dramatically, the infrastructure hadn't kept pace. Retirees were happy to overlook falling bridges and unpaved roads when prices were low. Harder to rationalize putting up with failing infrastructure in the face of appreciating costs.

Worse, after working so hard to woo American and European retirees, Costa Rica seemed to change its mind. The Costa Ricans didn't eliminate their famous pensionado program; they simply eliminated most of the tax breaks it had promised, as part of a deficit-reduction austerity package. And they didn't grandfather in existing pensionados. So those who'd chosen Costa Rica for the retiree benefits it offered were surprised and disappointed to find that those benefits existed no more. Now the Costa Rican government is considering a further pensionado program adjustment. They're talking about increasing, maybe substantially, the minimum monthly income requirement to qualify. And, again, if the change is made, existing pensioandos won't be grandfathered in. To renew your status, you'd have to qualify under the new requirements.

Kathleen Peddicord

P.S. Our 2014 Retire Overseas Index is featured, in full, in this month's issue of our Overseas Retirement Letter. If you're not yet an ORL subscriber, become one now to receive this bumper special annual edition, hot-off-the-virtual-presses.

Or you can purchase a copy of the Index on its own here.

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The utilities figure for each of our 21 budgets is straightforward; groceries and entertainment, much less so. If you shop at local markets and stick to a basic, local diet, your monthly groceries bill could be US$150. If you shop at U.S.-like grocery stores (which exist in every place on my list below) and want to eat like you ate back home (prime rib, Entenmann's, and French wine), your monthly food bill could be two, three, or four times US$150.

Likewise, entertainment. Our Index budgets include amounts for eating out once a week and going to the movies a couple of times a month, say, or perhaps taking one in-country trip per month to explore your new home. You could, if you wanted and your budget allowed, eat out four nights a week and take international vacations twice a year.

On top of the overall cost of living wherever you decide to retire you'll have the cost of housing. I recommend renting first, to give yourself a chance to get to know your new home and determine if it is, in fact, the right place for you. For each of the 21 top retirement havens on our Index list, therefore, we indicate an average cost for renting a one-bedroom, one-bath residence in a neighborhood that would be appealing and appropriate for a retiree.

After you've been in residence for a while, you may decide you like the place well enough to commit long term with an investment in a home of your own. Buying a piece of real estate in another country can also offer the potential for return, from capital appreciation over time and from cash flow if you decide to rent the place out when you're not using it yourself.

Therefore, for each of the 21 destinations on our Retire Overseas Index list, we also figured an average cost per square meter for the purchase of property. This is the best way to consider this. In fact, breaking down a location's property market to an average cost per square meter for a particular kind of property is the only reliable way to compare that location's property market with the property market anywhere else, the only apples-to-apples strategy.

In Nashville this week for our annual Retire Overseas Conference, we'll be sharing the results of this year's Retire Overseas Index, including the monthly budgets, the rental costs, and the average per-square-meter cost to purchase real estate for all 21 destinations featured...and a few others, to boot.

Here's a sneak preview for some of the destinations being featured...

In the Americas:

Ambergris Caye, Belize

Monthly budget: US$2,055
Rent per month: US$1,000
Purchase per square meter to purchase: US$2,000

City Beaches, Panama

Monthly budget: US$2,440
Rent per month: US$1,200
Price per square meter to purchase: US$1,900

Cuenca, Ecuador

Monthly budget: US$1,010
Rent per month: US$300
Price per square meter to purchase: US$1,100

Granada, Nicaragua

Monthly budget: US$1,040
Rent per month: US$500
Price per square meter to purchase: US$1,500

Medellin, Colombia

Monthly budget: US$1,530
Rent per month: US$650
Price per square meter to purchase: US$1,050

Puerto Vallarta, Mexico

Monthly budget: US$1,910
Rent per month: US$850
Price per square meter to purchase: US$2,490

In Europe:

Algarve, Portugal

Monthly budget: US$1,500
Rent per month: US$615
Price per square meter to purchase: US$1,960

Barcelona, Spain

Monthly budget: US$1,725
Rent per month: US$1,085
Price per square meter to purchase: US$5,500

Pau, France
Monthly budget: US$1,930
Rent per month: US$1,285
Price per square meter to purchase: US$2,300

In Asia:

Chiang Mai, Thailand

Monthly budget: US$920
Rent per month: US$400
Price per square meter to purchase: US$1,100 (note that foreign ownership of real estate is restricted in Thailand)

Dumaguete, Philippines

Monthly budget: US$910
Rent per month: US$350
Price per square meter to purchase: US$1,200

Nha Trang, Vietnam

Monthly budget: US$660
Rent per month: US$300
Price per square meter to purchase: Foreigners can't own property

Kathleen Peddicord

P.S. What brings us to Nashville this week? Our annual Retire Overseas Conference!

For years, friends have encouraged me to visit Music City. Finally, I was able to engineer a good reason.

We arrived yesterday, and I can tell you that my friends' reports did not embellish or overstate. This is a fun town. Live music everywhere.

It's not too late to make plans to join us here for what is going to be the biggest retire-overseas event of the year, this Friday through Sunday at the Lowes Vanderbilt Hotel.

In addition to the three-day Retire Overseas Conference Aug. 29–31, we're also hosting a first-ever Retire Overseas Expo the day before (Thursday, Aug. 28), from noon until 7 p.m. This half-day special event is open to the public, an ideal way to dip a toe in the retire-overseas waters, and, best of all, absolutely free for Live and Invest Overseas readers. Regular admission is US$25. However, simply confirm at the door on the day that you're a Live and Invest Overseas reader, and you'll be granted full access at no cost.

One way or another, therefore, I say: Get thee to Nashville. Dozens of correspondents and expats from around the world will be convening here today through Thursday so they can be on stage with us throughout the weekend to help showcase the world's top retirement havens for the nearly 300 registered attendees.

Come on down and join the fun.

Details of the Retire Overseas Expo taking place Thursday, Aug. 28, are here.

Details of the Retire Overseas Conference taking place Friday, Aug. 29, through Sunday, Aug. 31, are here.

See you soon.

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But you will see a few familiar U.S. icons here, such as Walmart, Sam's Club, Costco, and Home Depot. You can actually find anything you'll need in the shops downtown, but the U.S. stores will bring that familiar level of convenience that's hard to find outside the United States.

Xalapa has a number of lush parks and squares (normally called a zócalo in Mexico), each of which has a distinct personality. I stayed just down the street from Parque Juárez, which pretty much exemplifies what I like about zócalos. It was a busy social hub on Saturday night, with an almost carnival-like atmosphere, while Sunday brings a pleasant crowd of people strolling and relaxing in the traditional Mexican Sunday-style, people-watching and buying snacks from the street vendors' carts. This hillside zócalo has a unique lookout, affording a breathtaking view of the surrounding hills and city.

I was looking at my old field notes from 1998 and 2000 and saw where I'd written that "traffic downtown is not bad for a city of this size." This is no longer the case; traffic is heavy downtown and moves at a crawl. If I had a home in Xalapa, I'd either walk or use the inexpensive taxis and public transit, at least in the downtown areas.

The property market in Xalapa starts at less than US$50,000—so deep into bargain territory that you'd be hard-pressed to find such low prices in a Third World backwater, let alone a classy city like Xalapa.

The average cost per square meter in Xalapa is just US$791. To put that into perspective, I'd consider anything less than US$1,300 per square meter to be a serious bargain. However I don't see any market force here that would cause prices to appreciate quickly, so this is not a place to buy and flip for a quick profit.

You won't find a better value. Here are a few examples of what's on the market today. Properties are priced in Mexican pesos, so the U.S. dollar values I give below will change with current exchange rates.
  • A three-bedroom, single-bath apartment in Jardines de Xalapa has just come on the market. It has 72 square meters (775 square feet) of living area and a garage space. The asking price is US$37,800 (500,000 pesos).
  • I like this one in Zona Centro because it's convenient and walkable. It's a ground-floor apartment with lots of light and ventilation and a large, nicely planted, 60-square-meter courtyard. In the 111 square meters (1,195 square feet) of floor space there are two bedrooms, two-and-a-half baths, a family room, and laundry area. The asking price is US$109,500 (1.45 million pesos).
  • Also in Zona Centro, four blocks from Parque Juárez, there's a small two-story house on the market, with 90 square meters (970 square feet) of living space including, two bedrooms, and one-and-a-half baths. It's in a great location close to banks, restaurants, shopping, and one of the city's best zócalos. The asking price is US$113,300 (1.5 million pesos).
  • We also found a two-story, restored colonial for sale with 272 square meters (2,930 square feet) of living area including four bedrooms, three-and-a-half baths, a study, laundry area, and parking for one vehicle. The kitchen and baths are new, as are the Spanish tile. The asking price is US$173,700 (2.3 million pesos).
  • This one's a grand old classic colonial, just two blocks from Parque Juárez in Centro in about as good a location as you can find in the city. It's a 404-square-meter (4,350 square feet) house that would make a great boutique hotel, B&B, or just a large, traditional Mexican courtyard home. It currently has six bedrooms, with room for more, and it's in excellent condition. There is a spacious reception and great room area and an adjacent room that has space for a bar and restaurant, if you were opening a business. Tropical gardens fill the interior courtyard and servants' quarters are located in the rear of the property. The asking price is US$415,400 (5.5 million pesos).
  • In the Las Animas neighborhood, this contemporary one is probably the best value we saw. It's a large home with three bedrooms (one with dressing room and Jacuzzi), two-and-a-half baths, a terrace, and a two-car garage. It's got 240 square meters (2,580 square feet) of living space on two stories and also includes a maid's suite. Located in an exclusive, upscale community, the asking price is US$151,000 (2 million pesos). To save you the math, that comes out to just US$629 per square meter at today's exchange rates. In most markets I'm familiar with, that would be a super bargain at twice the price.
  • Finally, just out of town to the south, I have to mention the most unique home I've probably ever seen. It's called Las Hojas (The Leaves), and all of the windows are formed into the shape of various leaves. The leaf theme continues inside, where these openings are carved into interior partitions, the fireplace, etc. Thirty-inch-diameter tree trunks hold up twin lofts which serve as the bedrooms. The living areas, bedroom lofts, dining room, and kitchen all open up to the large, environmentally enclosed center courtyard. It's a multilevel home of 170 square meters (1,830 square feet), bordering an ecological preserve. The asking price is US$147,200 (1.95 million pesos).

To get to Xalapa, you can fly into the El Lencero Airport (JAL). It's about 15 minutes from town, although the only airline there is Aeromar, which you'd pick up in Mexico City. Alternatively, you could go to the Veracruz airport (VER) for better connections, if you're willing to drive around one-and-a-half hours to get into Xalapa from Veracruz.

In general, the Xalapa area is a great place to live and be a part of a thriving, energetic community with all the cultural and artistic amenities you could want. You'll find a great symphony, theater, and plenty of excellent restaurants...along with good and convenient shopping.

Prices will not rise quickly, but for a super lifestyle at an amazing price in old, non-gringo Mexico, Xalapa will be hard to beat.

Lee Harrison

Editor's Note: This article ran earlier this week in our Overseas Property Alert edited by Lee Harrison. This once-a-week free e-letter service comes straight from Lee's laptop to yours as he's on the road scouting real estate markets of opportunity. Sign up to receive Lee's weekly dispatch here now. Again, it's free.

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You don't mind...or, if you do, you're not happy. If you're interested in a lifestyle supported by the diversions and distractions of a big city, Cayo is definitely not for you. If you're delighted by the thought of wide-open spaces where life revolves around the land and where independence and self-sufficiency are prized above all else, then Cayo could be the paradise you seek.

At home in Cayo, the view outside your bedroom window and from your front porch would be of fields and pastures, trees and jungle, rivers and livestock. You'd see Mennonites driving horse-drawn carts and children walking home from school. Everyone going about his or her business, not much bothered by market values, fiscal cliffs, or the mounting deficit. Here, in this land of escape, where life is simple, those things don't seem to matter or even to register.

Living in Cayo, you'd have Internet but maybe not reliable high-speed service. Don't move here if you plan to day trade.

Who Should Retire To Medellin, Colombia?

Medellin is a pretty, tidy city with a near-perfect climate. It's also culturally and recreationally rich and diverse in a sophisticated, developed-world kind of way. On any given day, you could visit a museum or see a tango show. There's opera in season, shopping year-round, and dance clubs, nightclubs, and white-glove restaurants...plus interactive outdoor museum-parks, an aquarium, an amusement park, botanical gardens, a planetarium, a "Barefoot Park" with a Zen garden, and dozens of small, neighborhood parks and treed plazas.

Medellin is an economic and financial center for Colombia, as well as a literary and an artistic one. It's the base for newspapers, radio networks, publishing houses, an annual poetry festival, an international jazz festival, an international tango festival, and an annual book fair. Back in 1971, Medellin was even the venue for Colombia's answer to Woodstock, the Festival de Ancon.

Medellin is a place where things work--the Internet, the metro, street-cleaning, garbage-collection...you can count on these services day-to-day. Taxis are metered, shop-keepers are well-mannered, and the people you pass on the street are well-dressed.

Making this a good choice for someone who wants city life but who also enjoys the out-of-doors (as this is a city best enjoyed al fresco). Medellin is suited to the retiree who isn't interested in hot, humid, or tropical and who appreciates Euro-chic but doesn't want to travel all the way to Europe.

The expat and retiree communities in Medellin are fledgling, meaning that you'd have to assimilate into the local one. This would mean speaking Spanish. If you don't already speak Spanish and don't want to learn, Medellin is probably not your ideal retirement haven.

Who Should Retire To Cuenca, Ecuador?

Cuenca is a colonial city where the cost of living is low and the cost of buying a home of your own is near rock-bottom. The health care is high quality, honest, and super-affordable. As in Medellin, the weather is "spring-like" year-round. Unlike Medellin (which is an emerging retirement haven rather than an established one like Cuenca), the city is home to one of the world's largest and fastest-growing communities of foreign retirees.

On the other hand, you have to remember that, charming as it can be, Cuenca is located in a poor, developing country. In this regard (and many others, too) Cuenca is the yang to Medellin's yin. In Cuenca, as throughout Ecuador, the standards of maintenance for roads, buildings, sidewalks, etc., won't be what you're probably used to and the hassle factor associated with any administrative task will be big.

Expats we know who are happy living in Cuenca are able to consider these annoyances fair exchange for the simple, 1950's lifestyle the city offers. Walking around town (Cuenca is a place where you could live comfortably without owning a car), you'll get to know the shop owners and your neighbors, who will all get to know you, too.

Cuenca will appeal to the expat who wants city life but who also has a sense of adventure and who is up for (rather than intimidated by) culture shock.

Who Should Retire To Puerto Vallarta, Mexico?

Romantic. That might be the best single word to describe Puerto Vallarta. The city also offers shopping and fine dining, boating and golfing, country clubs and community, gourmet shops and designer boutiques...all alongside a beautiful stretch of the Pacific Ocean.

Puerto Vallarta could be called glamorous, but the cost of living and of buying real estate here aren't jet-set. This is one of Mexico's most sophisticated resort spots, with more cachet than Mazatlán and more chic than Cancún. Walking around Vallarta, you get that happy, vacation-time feel that successful beach resorts exude.

And that's the would-be retiree overseas who should consider Puerto Vallarta--the beach-loving soul who likes the idea of retirement as a perpetual, fully appointed vacation.

Who Should Retire To El Cangrejo, Panama?

El Cangrejo is the expat hub of Panama City and a top choice for a comfortable, affordable, downtown-city-living experience. In El Cangrejo, you're smack-dab in the middle of everything Panama City has to offer.

This is one of the few neighborhoods in this city that is walkable and where you could get by without a car. It's also the only neighborhood in this city I'd describe as "cool." Over the years, El Cangrejo residents I've known have included a Chilean artist, a corporate transplant from Canada, many young Panamanians bucking the tradition of living with their parents through their 20s, retired hippies from the States, an entrepreneur from Serbia, and an Irish writer.

Panama City is the region's melting pot, and El Cangrejo is where the most interesting of the many transplants to this town choose to settle.

It's also Panama City's red-light district, the center of its prostitution (legal in this country) and casino trades. El Cangrejo's streets are lined with nightclubs and cafes, restaurants and pubs, plus low- and mid-rise apartment buildings. This isn't flashy Panama City (you find that in the high-rises along Avenida Balboa and in Punta Pacifico) and it isn't power Panama City (that's in Altos de Golf). El Cangrejo could be called the soul of this city, a good choice for the retiree with an open mind...

Who doesn't mind heat and humidity, congestion and traffic, noise and litter. These things, too, are all a part of the scene here.

Kathleen Peddicord

 

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Dear Live and Invest Overseas Reader, 

Where is the best place in the world to retire?

That's a tricky question to answer, so I suggest coming at this from a different angle. Rather than trying to identify the world's top retirement haven, consider instead who's best suited to retire where.

A short list of top retirement options in the Americas right now would include:
  • Cayo, Belize
  • Medellin, Colombia
  • Cuenca, Ecuador
  • Puerto Vallarta, Mexico
  • El Cangrejo, Panama

Which one of these places is the best choice? It depends on who you are.

Who Should Retire To Cayo, Belize?

Belize is a retirement, a tax, and an offshore haven. This is a sunny country where the folks speak English and value their freedom and privacy. Belize is easy to get to from the States, and the people living here are welcoming and hospitable once you've arrived.

On the other hand, this is a small country where the infrastructure is most kindly described as "developing."

The cost of living can be affordable, even low, but not if you want to live a more developed-world lifestyle that would mean buying lots of things not produced locally. Anything imported comes at an inflated price.

My favorite part of Belize is its Cayo District. No infrastructure, limited services and amenities, and little market demand could be interpreted as negatives, but, in Cayo, these things are a big part of the appeal. Once you get to Cayo, you don't mind that there's no infrastructure. You don't mind that the culture is more concerned with country living than consumerism.

You don't mind...or, if you do, you're not happy. If you're interested in a lifestyle supported by the diversions and distractions of a big city, Cayo is definitely not for you. If you're delighted by the thought of wide-open spaces where life revolves around the land and where independence and self-sufficiency are prized above all else, then Cayo could be the paradise you seek.

At home in Cayo, the view outside your bedroom window and from your front porch would be of fields and pastures, trees and jungle, rivers and livestock. You'd see Mennonites driving horse-drawn carts and children walking home from school. Everyone going about his or her business, not much bothered by market values, fiscal cliffs, or the mounting deficit. Here, in this land of escape, where life is simple, those things don't seem to matter or even to register.

Living in Cayo, you'd have Internet but maybe not reliable high-speed service. Don't move here if you plan to day trade.

Who Should Retire To Medellin, Colombia?

Medellin is a pretty, tidy city with a near-perfect climate. It's also culturally and recreationally rich and diverse in a sophisticated, developed-world kind of way. On any given day, you could visit a museum or see a tango show. There's opera in season, shopping year-round, and dance clubs, nightclubs, and white-glove restaurants...plus interactive outdoor museum-parks, an aquarium, an amusement park, botanical gardens, a planetarium, a "Barefoot Park" with a Zen garden, and dozens of small, neighborhood parks and treed plazas.

Medellin is an economic and financial center for Colombia, as well as a literary and an artistic one. It's the base for newspapers, radio networks, publishing houses, an annual poetry festival, an international jazz festival, an international tango festival, and an annual book fair. Back in 1971, Medellin was even the venue for Colombia's answer to Woodstock, the Festival de Ancon.

Medellin is a place where things work--the Internet, the metro, street-cleaning, garbage-collection...you can count on these services day-to-day. Taxis are metered, shop-keepers are well-mannered, and the people you pass on the street are well-dressed.

Making this a good choice for someone who wants city life but who also enjoys the out-of-doors (as this is a city best enjoyed al fresco). Medellin is suited to the retiree who isn't interested in hot, humid, or tropical and who appreciates Euro-chic but doesn't want to travel all the way to Europe.

The expat and retiree communities in Medellin are fledgling, meaning that you'd have to assimilate into the local one. This would mean speaking Spanish. If you don't already speak Spanish and don't want to learn, Medellin is probably not your ideal retirement haven.

Who Should Retire To Cuenca, Ecuador?

Cuenca is a colonial city where the cost of living is low and the cost of buying a home of your own is near rock-bottom. The health care is high quality, honest, and super-affordable. As in Medellin, the weather is "spring-like" year-round. Unlike Medellin (which is an emerging retirement haven rather than an established one like Cuenca), the city is home to one of the world's largest and fastest-growing communities of foreign retirees.

On the other hand, you have to remember that, charming as it can be, Cuenca is located in a poor, developing country. In this regard (and many others, too) Cuenca is the yang to Medellin's yin. In Cuenca, as throughout Ecuador, the standards of maintenance for roads, buildings, sidewalks, etc., won't be what you're probably used to and the hassle factor associated with any administrative task will be big.

Expats we know who are happy living in Cuenca are able to consider these annoyances fair exchange for the simple, 1950's lifestyle the city offers. Walking around town (Cuenca is a place where you could live comfortably without owning a car), you'll get to know the shop owners and your neighbors, who will all get to know you, too.

Cuenca will appeal to the expat who wants city life but who also has a sense of adventure and who is up for (rather than intimidated by) culture shock.

Who Should Retire To Puerto Vallarta, Mexico?

Romantic. That might be the best single word to describe Puerto Vallarta. The city also offers shopping and fine dining, boating and golfing, country clubs and community, gourmet shops and designer boutiques...all alongside a beautiful stretch of the Pacific Ocean.

Puerto Vallarta could be called glamorous, but the cost of living and of buying real estate here aren't jet-set. This is one of Mexico's most sophisticated resort spots, with more cachet than Mazatlán and more chic than Cancún. Walking around Vallarta, you get that happy, vacation-time feel that successful beach resorts exude.

And that's the would-be retiree overseas who should consider Puerto Vallarta--the beach-loving soul who likes the idea of retirement as a perpetual, fully appointed vacation.

Who Should Retire To El Cangrejo, Panama?

El Cangrejo is the expat hub of Panama City and a top choice for a comfortable, affordable, downtown-city-living experience. In El Cangrejo, you're smack-dab in the middle of everything Panama City has to offer.

This is one of the few neighborhoods in this city that is walkable and where you could get by without a car. It's also the only neighborhood in this city I'd describe as "cool." Over the years, El Cangrejo residents I've known have included a Chilean artist, a corporate transplant from Canada, many young Panamanians bucking the tradition of living with their parents through their 20s, retired hippies from the States, an entrepreneur from Serbia, and an Irish writer.

Panama City is the region's melting pot, and El Cangrejo is where the most interesting of the many transplants to this town choose to settle.

It's also Panama City's red-light district, the center of its prostitution (legal in this country) and casino trades. El Cangrejo's streets are lined with nightclubs and cafes, restaurants and pubs, plus low- and mid-rise apartment buildings. This isn't flashy Panama City (you find that in the high-rises along Avenida Balboa and in Punta Pacifico) and it isn't power Panama City (that's in Altos de Golf). El Cangrejo could be called the soul of this city, a good choice for the retiree with an open mind...

Who doesn't mind heat and humidity, congestion and traffic, noise and litter. These things, too, are all a part of the scene here.

Kathleen Peddicord
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Much of the Pacific coast of Mexico is comparable to the coast of California in terms of natural beauty and terrain. The difference is to do with infrastructure and amenities. Few spots along Mexico's Pacific coast are anywhere near as developed or, therefore, as comfortable as most of the California coast.

One important exception is Puerto Vallarta and, to the north, Nuevo Vallarta.

Even in Puerto Vallarta proper, prices in high-end neighborhoods close to the marinas and golf courses are going to be less than in comparable locations along California's coast. However, for the best bargains, you need to look beyond central PV and at the edge of progress...north.

Fonatur, the Mexican government's tourism investment arm that helped to create Los Cabos and Cancun, has more recently been focused on the Riviera Nayarit, investing in and incentivizing new infrastructure, hotels, and other tourism-related businesses. As Fonatur's efforts progress, so does the area they are focused on (in this case, the Riviera Nayarit)...resulting, usually sooner rather than later, in escalating property prices. Get in early in a region where Fonatur is focused, and, as an investor, you can see nice appreciation.

Or, if your agenda is not investment but retirement, you could acquire the Pacific coastal retirement home of your dreams for a bargain price, certainly compared with the cost of something comparable in California.

One very appealing current opportunity for this is to be found in a development community called Vista Encantada that sits about an hour from the infrastructure and amenities of Nuevo Vallarta--the marinas, the golf courses, the shopping, the restaurants...

Vista Encantada is a small Pacific ocean-view community in the middle of the Riviera Nayarit path of progress and only a few minutes from the nearest beach. Fonatur's efforts are evident just down the road, meaning infrastructure improvements and more amenities in progress.

The location of Vista Encantada is ideal if you like the idea of being able to enjoy all that Puerto Vallarta has to offer but don't want to be smack dab in the middle of the tourist trade this town sees. At home at Vista Encantada you could enjoy quiet sunsets at the property's waterfall, daily walks down to the beach, and golf on their private 3-hole course...all while being within an hour of developed services and nightlife.

Puerto Vallarta and environs is our top pick for what we refer to as affordable luxury living on the Pacific coast. And Vista Encantada is one of the most appealing and most affordable options I've found for establishing a retirement base here, either full- or part-time.

Current lot prices start at US$69,000, and, in the current pre-construction stage, you can buy a one-bedroom apartment for just US$119,000.

I have to say that I am most impressed with Vista Encantada, both the product and the pricing. For more information, you can get in touch here.

Lief Simon

Editor's Note: Puerto Vallarta, Mexico, is one of 24 markets featured in detail in Kathleen Peddicord's new book, "How To Buy Real Estate Overseas."

If you haven't bought your copy of this must-have live and invest overseas resource, already a #1 bestseller on Amazon, what are you waiting for? Go here to get your copy now!

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Kathleen Peddicord

Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter.

Her book, How To Retire Overseas—Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.

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