Lief and I do two things first anywhere we're planning to spend an extended time--we locate schools for our children...and then we find something old and interesting to restore into a place to live. In Ireland it was Newtown School for Kaitlin (Jack was but a twinkle in his father's eye when we settled in Waterford) and the tumbledown Georgian country home called Lahardan House. In Paris it was Ecole Active Bilangue for Kaitlin and the maternelle (nursery school) down the street for Jack...and a 300-year-old apartment a couple of blocks off the river and just behind the Musee d'Orsay...

In Panama it was the Paul Gauguin French school for Jack (Kaitlin was off at university in New York by the time we made the move to Panama City). And, here, instead of something old and crumbling to renovate, we took a different, long-term approach to housing. With friends, we bought a wide-open expanse of oceanfront property, with beautiful, extended, and dramatic views of the Pacific, called Los Islotes, where we intend to build a house that figures as part of our eventual retirement plan.

As in Waterford and Paris, these decisions led to our first local friendships.

Loic and Muriel are the parents of Valerian, Jackson's best friend at school. This French family arrived in Panama the year before we did with, like us, entrepreneurial intentions. We've watched over the past few years as Loic and Muriel have built an authentic French concern in the heart of downtown Panama City. Their Petit Paris is a bakery, a restaurant, and a café, with small tables and wicker chairs on the sidewalk out front, a bar where you can have a coffee or a glass of champagne, and an imported French chef who bakes authentic croissant and baguette fresh every morning and serves quiche and salad specialties for lunch and dinner.

Klaus and Mirty are the parents of Jackson's other best friend in Panama, Marcus. Mirty is American, Klaus German. They met and were married in Guatemala, where Marcus and his sister later were born. Eventually this charmingly culturally confused family made their way to Panama, thanks to Klaus' employer, Nestle.

Thanks to Jack, Loic, Muriel, Klaus, and Mirty are now regular parts of our lives.

Other of our first friends in Panama we owe to Los Islotes. Ricardo Arosemena is the Panamanian architect Lief has chosen to design both the colonial town center and the houses that will be built as part of the Pacific-coast community Lief is developing. Ricardo came to our first meeting carrying a stack of books on the history of Spanish colonial architecture in the region, including a picture book of central Antigua, Guatemala, maybe the finest existing example of the best the Spanish built during their adventures in this part of the world. Richardo offered the book to me, saying that he wanted me to have it for a while...if I'd promise to take good care of it. With that, we knew Ricardo was our kind of guy.

It's also thanks to Los Islotes that we now have Gary and Karen in our lives in Panama City. Gary moved to Panama to work as Los Islotes Project Manager. Karen, his wife, came with him, of course. The couple was ready to leave the States, but Gary wasn't ready to retire. He wanted to put his decades of experience in the development industry to new, good, and interesting use at this stage of his life. Karen, once she arrived in Panama, wanted to become involved, too. She's now Customer Service Manager for Live and Invest Overseas.

Who else have we found here in the Hub of the Americas?

Bruno, the Italian developer now dividing his time between Miami, where he was developing property for decades before the bottom fell out of that market a few years ago, and Panama City, where he's focused on a new project...

James, the real estate marketing pro from London...Jean-Luc, the banker from Switzerland...Hildegard, our other Panamanian architect friend...

We've even been surprised to rediscover a long lost friend from Paris. We worked with Jocelyn Carnegie (originally from the UK) for several years when we had an office in France, then lost touch with him when he left to be married and move to Nicaragua. Alas, the marriage didn't take, but Jocelyn, now established on this side of the Atlantic, moved on from Nicaragua to Panama, where we were delighted to run into him a couple of months ago standing in line at Multimax one day, waiting to buy a new laptop computer...

Kathleen Peddicord

P.S. What else this week?

• Friends we spent the weekend with in Mendoza, Argentina, wondered about our impressions of Santiago, Chile, which we'd visited on the way to Mendoza City.

Last week's visit was Lief and my first to Chile. We started in Santiago, both because it seemed a sensible choice for a first look at this country and also because it was on the way to our ultimate destination, Mendoza. We're already thinking about when we can plan a return trip. Santiago has whetted our appetite for Chile but not satisfied it...

• The new IRS Form 8938 is official. If you meet the requirements, you must complete the form starting this year. Another document to add to the pile. Another measure of control by the U.S. government. And another, maybe big reason to think about no longer being an American.

Instructions for filing Form 8938 can be found here.

I covered the basics for this new filing requirement in the January issue of my Simon Letter. If you're living in the United States, you have to complete the form if you have foreign financial assets of more than US$50,000 on the last day of the year or of more than US$75,000 at any point during the year. These are the amounts for single filers. The amounts double for married couples filing joint returns.

If you live outside the United States, the threshold amounts move to US$200,000 on the last day and to US$300,000 during the year for singles and double that for married filing jointly.

Foreign financial assets are defined in the instructions for the form as "any financial account maintained by a foreign financial institution" and "to the extent held for investment and not held in a financial account, any stock or securities issued by someone that is not a U.S. person, any interest in a foreign entity, and any financial instrument or contract with an issuer or counterparty that is not a U.S. person."

That definition seems to stretch to include every and any asset that isn't real estate or gold held in your own name...

• Rum and real estate don't mix. You want to be sober when considering property purchase options in a foreign land. Certainly, you want your wits about you when it comes time to sign on the dotted line. The trouble is, in the land of mañanas and fiestas, the rum flows. And so do the promises. The key to success navigating overseas, especially developing world real estate markets is avoiding the liquor and turning a deaf ear to the assurances.

Here's how this will go...

• "Late last year, Vicki and I received an urgent call to fly to New Haven, Connecticut," writes Perpetually Traveling Correspondent Paul Terhorst, "where our nephew was a Yale graduate student. He'd recently been confined to a wheelchair and needed some help.

"Vicki and I were in southwestern China at the time. Within a few days we managed to get flights and were on our way.

"My first priority in New Haven was to find a place to live. I began the search by wandering through campus. I saw the Yale Visitor Center, walked in, and started talking to the guy there. He was from Congo, French-speaking, and soon we were talking in French. I told him Vicki and I needed a furnished place to live for a couple of months. He said, 'My sister has an apartment...'

"The next day we were installed in a US$1,000-a-month basement apartment.

"We had our own living room, den, kitchen, bedroom, and bathroom. The furnishings were basic but comfortable. Upstairs lived a wonderful African family, Mom and two daughters. We sometimes cooked upstairs and got to know the family.

"I thought the rent was a bit steep. I had seen ads for apartments for less than that, and closer to campus. But, over the course of our time there, I realized that we had a very good deal indeed. Utilities alone came to more than US$250 a month. Then there was cable TV, broadband and WiFi, telephone, gardening, maintenance, newspaper, and what have you, all paid by my landlady upstairs. I'd been out-of-touch with U.S. living costs. These days a grand a month barely covers out-of-pocket expenses for the above, much less the whopper mortgage, property taxes, and insurance. The average mortgage in the U.S. today costs US$1,721 a month.

"So goes the life of a PT, a perpetual traveler. We wander the world, from Paris to Bangkok, from Kunming in southwestern China to Buenos Aires, enjoying what we find and then moving on. Last year we moved to New Haven for two months. This year we plan to spend more time in Asia..."

Also This Week...from Resident Global Real Estate Investing Expert Lief Simon:

A reader wrote this week suggesting that Kathie and I have been out of the United States too long. Don't we realize, he wondered, that real estate in Las Vegas sells for less than US$90 a square foot? How could we think that properties on offer in Santiago, Chile, for US$90 to $US180 a square foot are a good deal?

Well...Santiago isn't Las Vegas...and vice versa. I'll spare you my opinion of Las Vegas (to spare myself letters from readers defending how great a place it is). But, even if you like Las Vegas, trust me. When you see Santiago, you'll understand. There are few comparisons to be drawn.

Furthermore, the neighborhoods I was referencing when I quoted prices for buying in Santiago are the "Beverly Hills" of this city. I know the bottom has fallen out of the Las Vegas real estate market, but I can't believe that it'd be possible to buy in the nicest neighborhoods (are there nice neighborhoods?) for less than US$90 a square foot.

Finally, you have to consider not only where you're buying, but what you're buying. The construction quality in Santiago is far better than that of the plastic and gypsum McMansions that seem to be all the rage in Vegas.

All this speaks to the real point...which is that, when comparing property prices from one market to another, you have to compare apples to apples. I'm stating the obvious, yet so often people forget this.

Telling me that property in Vegas is cheaper than property in Santiago is like telling me Las Vegas is cheaper than Society Hill, Philadelphia. Saying a one-bedroom house in South Phoenix is cheaper than a one-bedroom apartment in Scottsdale is likely a statement of truth, but, again, it doesn't mean anything.
It's like comparing an apple rotting on the ground to a sweet apple tart in a five-star restaurant.

Breaking down prices so you can consider them per square foot or per square meter is only the start of the comparisons process. You also have to remember neighborhood differences, quality of construction differences, quality of the city differences, views, ease of access, etc. Yes, you have to drill down to the cost per square meter to be able to get an idea of values in any market and among markets, but don't let that be your only point of reference.

Unfortunately, when making these kinds of comparisons, most people can't help but use the place where they're currently living as their immediate frame of reference. They are looking for something cheaper than "home," but cheaper isn't always better. Moving overseas you could certainly find a place to live where the overall cost of living is lower than where you're coming from. But you could probably do this moving from one place in the United States to another place in the United States, as well. But that'd probably mean moving someplace like Vegas. No thanks...

Getting more and better value for your money is the real point of all this and should be your real agenda in considering a move to another country. A house at the beach in Panama for US$300,000 can be a good value even though it's not "cheap." Because, while it's not cheaper than a comparably sized house in Vegas or Detroit or Tucson, it's not in Vegas or Detroit or Tucson. It's on the Pacific coast of Panama. Meaning a more meaningful comparison would be to a comparably sized house on the Pacific coast of California. And, in that context, the US$300,000 house on the coast of Panama could be considered cheap.

As for Santiago, a city of 7 million people, you can certainly find a house for sale for much less than US$90 a square foot if that's what you want. You won't be living in the best neighborhood, but you won't be living in a "bad" neighborhood, either.

And you won't be living in Las Vegas.

We drove down avenida Balboa, beyond the central zone of the modern city, turned left, and passed a brightly painted Chinese-style arch that seemed very much out of place in this Latino barrio.

But what lay beyond the Asian arch was perhaps more surprising: A treasure trove of historic structures left behind by the Spanish, the French, and the Americans who'd hung their hats in this part of the world over the preceding few centuries.

Like the arch, everything in this zone was crumbling, peeling, cracking, and fading. The gutters were thick with litter, and small barefooted children ran back and forth across the narrow brick-paved roadways in all directions.

From the open windows, Latin music blared. In the open doorways, women lounged and rocked, chatting and tending to their near-naked babies.

Some buildings couldn't quite be described using that word. They were more piles of rubble than actual structures...

But if you looked beyond the litter and the rubber, beyond the crumbling plaster and the peeling paint...you saw something very special, something that exists in only a limited number of places around the world: Block after block of classic colonial-style buildings with shuttered windows, balconies on every level overlooking the street, ornate iron work and turned wood, and facades of the kind you see more often in the pages of coffee-table books than you do in real life.

This was Casco Viejo, that my friend introduced me to all those years ago. As soon as we'd turned the corner past the Chinese arch and into the barrio, I urged him to find a place to park so we could get out and have a closer look. I wandered up and down the streets that day with delight. I like old buildings the way some women like new shoes. For me, this was better than a shopping spree at Saks Fifth Avenue.

The better I got to know Casco Viejo, or The Casco, as locals refer to it, over the years, the more infatuated I became. This region of Panama City is quite separate from the rest of the capital, out on a small peninsula in the Bay of Panama. Almost any street in The Casco eventually leads to the sea.

Along the way, these centuries-old roadways paved with brick take you past those glorious colonial structures, and, as well, a well-laid-out series of plazas, each with its own church. Casco Viejo boasts eight historic churches in all, including Iglesia Felipe Neri, the oldest in the city, dating to 1688.

This is one part of Panama City built for walking, which is something else I appreciate about it. This ancient quarter is laid out like a classic European city, on a grid around those welcoming plazas with their shady trees.

Back then, on my first visit, it took considerable imagination to see the potential beneath the grime and the garbage. Most of the one-, two-, and three-hundred-year-old buildings were, at the time, crowded with a dozen or more inhabitants each, some legal, most not, some paying a pittance in rent thanks to a scheme something like rent control in central Manhattan. Many of the Casco's occupants at the time, though, were squatters, meaning that, before the buildings of this historic zone could be rejuvenated, its population had to be moved out.

Fast forward to today, about a dozen years later, and the squatters are mostly gone, some moved to affordable housing provided by the Panama government. A good number of the old houses have been rehabbed, in most cases with tender loving care and attention to original detail, some converted to private homes, others to apartments, office buildings, art galleries, shops...

Today there are restaurants with sidewalk tables, open-air cafes on the corners, and trendy bars with live music. Today, the Casco is increasingly the place to go on a Friday or a Saturday night if you're young and looking for fun.

That said, if you didn't see Casco Viejo years ago, and you see it today for the first time, you might wonder what I'm on about. Trendy? Romantic? Charming? "This place is little better than a ghetto!" you might exclaim...

The gutters are still strewn with litter (though nothing like a decade ago). Children still run barefooted in all directions. Women still lounge in the open doorways gossiping with their neighbors and nursing their newborns. The stray dogs are here and the blaring boomboxes, all the elements of a real barrio.

This is a neighborhood in transition, and many in the Casco are keen not only to renovate the old colonial structures to their original glory, but to do so while preserving the cozy Panamanian community that has existed for decades among them.

The Casco is, for me, both the most colorful, historic, and romantic section of Panama City and, as well, the most authentically Panamanian.

People typically love it or hate it. You should come have a look and make up your own mind.

Meantime, we feature a complete report on life in modern-day Casco Viejo in this month's issue of my Panama Letter, subscribers' e-mailboxes this week.

Kathleen Peddicord

P.S. What else this week?

• "I'm spending a month wandering through southeastern Europe with my Scandinavian friend Ivan and my Texan friend Vinnie," writes Intrepid Correspondent Paul Terhorst.

"When I was small, this part of the world was closed to us, behind the Iron Curtain. All that changed in 1989 when the Berlin Wall fell. The region started on a new path. I'm here now, interested to see how things are coming along.

"From my view through the window of the day train from Bulgaria to Romania, the answer seemed to be: not very well. The Bulgarian countryside offered abandoned factories, houses, office buildings, and food processing plants. We saw few cars on the road, few cars parked in the villages. Everywhere was desolation and ghost towns.

"Then, all of a sudden, the countryside changed..."

• "Put it on your list," says Intrepid Correspondent Paul Terhorst. "You owe it to yourself to travel to Odessa, Ukraine, a first-rate historic city on the Black Sea.

"For the past few weeks I've been traveling around southeastern Europe with friends Ivan from Scandinavia and Vinnie from Texas. We started in the Balkans: Bulgaria, Romania, and Moldova. Now we're farther east, in the Ukraine, and Odessa is our first stop.

"Think of Odessa and the Ukraine as Russia Light. Odessa has been part of Russia for over 200 years, since Catherine the Great annexed it. A huge painting of Catherine hangs in the local museum's main room.

"In the 19th century, Odessa was the Empire's fourth-largest city, after Moscow, St. Petersburg, and Warsaw. Stalin hosted the famous Yalta conference nearby in 1945. Most people here speak Russian rather than Ukrainian.

"So, for practical purposes, we're in Russia. From a traveler's point of view, Ukraine makes more sense than Russia itself...

• "I could live in Odessa," writes Intrepid Correspondent Paul Terhorst, picking up where he left off yesterday, "and maybe someday we will. First, I'd arrange an exploratory trip for Vicki and me. Remember, Americans and many others can enter Ukraine without a visa, for up to three months.

"If we manage to set up shop here, short or long term, I'd have to learn the alphabet. Learning the alphabet should be much easier than learning the language, and at least I could read menus, road signs, bottle labels, and the like.

"Come to Odessa sooner rather than later, before costs go up..."

• The world's top retirement havens? Nine countries stand out right now as offering particular opportunity to the would-be expat, retiree, or investor overseas. Read more here and here.

Also This Week...from Resident Global Real Estate Investing Expert Lief Simon:

Invest in real estate and get a second passport. That's the straightforward premise behind the economic citizenship program that the two-island nation of St. Kitts and Nevis has put together.

Of course, for most people who might consider this, the investment return is secondary to the citizenship and the passport. With a St. Kitts passport, you can travel visa-free to more than 100 countries and territories (according to http://www.visahq.com/). For reference, a U.S. passport is good for travel to more than 130 countries; a British passport gets you access to almost 140.

It doesn't allow visa-free travel to the United States, for example, but it does mean visa-free entry to the U.K. and Canada.

In other words, in the scheme of things, a St. Kitts passport is a pretty good passport to have.

It's also a relatively very straightforward passport to obtain, as I explained. All you have to do is to buy a piece of real estate in a designated development on either St. Kitts or Nevis for a minimum investment of US$350,000.

Surprise, surprise, many of these designated developments have real estate offerings priced right at US$350,000. Qualifying properties are listed on a website here.

On top of this, you'll have about 20% in closing costs, including taxes and fees, meaning you're looking at a total cost of about US$400,000 for the real estate purchase.

Plus you'll have the registration fees...US$35,000 for the primary applicant and US$15,000 for your spouse and another US$15,000 for any child you want to bundle with the application. And don't forget the legal fees, US$25,000 for a family, US$20,000 for a single.

The piece of real estate you purchase can be rented out. However, realistically, at best, you're going to see a net yield of maybe 3% a year. Under the stipulations of the program, you can't resell the property until at least five years after the date of your new citizenship. And, if and when you do resell, you can't do so to another person seeking economic citizenship, meaning you're selling on the local market.

I'd expect that, after holding for five years, you might break even on the purchase price.

I explain all this to make the point that this isn't a real estate investment. This isn't about the yield or the capital appreciation...but the passport.

In today's world, the truth is, if you don't qualify for a second passport through ancestry (in Ireland, say), then your options for obtaining one are limited and come down to acquisition through residency or acquisition through investment. Those passports you acquire as a result of legal residency take many years to progress. Those you acquire through investment are typically, like this option from St. Kitts and Nevis, expensive.

But perhaps not ridiculously so. If you don't want to invest years (typically five) in the pursuit of a passport through residency, then an investment of, say, all told, US$450,000 in a piece of real estate on St. Kitts or Nevis seems a reasonable option to me. The economic citizenship program offered currently by Montenegro, for example, requires an investment in an operating business. That's a bigger risk, I'd say, than the purchase of a piece of island property. And the required investment amount is greater (500,000 euro).

Why would you want a second passport in the first place?

Diversification.

With a second passport, you have more options. You have a second "home" to return to should things take a turn for the worse wherever elsewhere you're residing. You have an escape hatch of sorts.

Again, though, the economic citizenship program in St. Kitts isn't your only second-citizenship option. And holding a second passport is but one part of an overall diversification strategy.

As these opportunities become ever more important in the current global climate, I've worked with my publisher (also my wife) Kathleen Peddicord to plan for the launch of a new e-letter service. This new service will come directly from me, weekly to start. It'll be a gloves-off, straight-shooting exploration, through firsthand stories, experiences, and discoveries, of your best current opportunities for diversifying your investments, your assets, your business holdings, and your life.

I'll be covering global investment options from real estate to currencies, commodities, and precious metals...residency and citizenship...taxation and tax havens...privacy and structures...and every other opportunity for global diversification my contacts, resources, and I can uncover.

First issue out later this month. Kathleen will have more information for you next week.

Feb. 11, 2011:

"Kathleen, my wife and I have come across your website recently and are more than a little intrigued. We enjoy your articles and find them very informative. They have given us some hope. It seems like retirement is almost out of the question here in the United States.

"We are specifically interested in France. Any information you could share with us about this country would be welcome.

"We look forward to being in touch for a really long time."

--Lynne and Patrick F., United States

France is one of top retirement havens for 2011, and we are right now in production with our all-new Live & Invest in France Kit (being prepared by Euro-correspondent and France expat Lucy Culpepper).

Meantime, we have published two in-depth Country Retirement Reports on the Bearn and Languedoc areas of France specifically. These are available in our online Bookstore, here.

In addition, France is one of the 20 countries that will be featured as part of our Retire Overseas Conference taking place in Orlando, Florida, Oct. 14-16. Full details of the program we're planning are here. The first 30 to register attend as VIPs.

----------

Final Day To Claim Your Free Report On Facebook!

Receive our just-published guide to the world's top seven overseas havens for 2011 free when you "Like" us on Facebook.

Go here now to claim your copy.Continue Reading:

• Safe And Private Storage Offshore

And, while more and more people are looking for safe options for storing valuables overseas (gold, cash, stock certificates, jewelry, etc.), some don't want a safe deposit box in a bank. It's not the most private option, as banks must keep records of their safe deposit box owners that could be disclosed as part of an inquiry into the bank's account holders.

For these reasons, the private bank vault business seems to be booming. In Panama, for example, I know of two vaults that have opened in the last year. These private companies aren't banks (although they have the appropriate permits to run a safe deposit box business) and therefore don't come with the same potential risks that a bank can have.

In addition, private vaults offer options not typically available at a bank. For example, if you just want a place to store your own safe, many private vaults offer that as an option. The safe is secured inside the vault and only you know the combination or have the keys.

I visited one of the two new private vault companies in Panama City last week to see the operation. Located in the heart of Panama City's international banking district, Private Bank Vaults offers secure, private, anonymous, and guarded safety deposit boxes inside a former bank vault.

Security is high, with an armed guard at the front of the building and one inside the vault company's front door, as well. You must pass through two steel doors before arriving at the front of the vault.

Inside, it's a typical safe deposit box set up, with walls of boxes of various sizes (including some oversized) and a table for you to use while you have your box out. The investment has been made in security, not fancy finishings.

All of the boxes are 2 feet deep and range from 3 inches by 10 inches to 15 inches by 10 inches. Prices can be quoted by the month or by the year. The smallest box is US$255 for one month and US$695 for a year. The 15 X 10 box is US$595 per month and US$1,595 a year. These rates, certainly the annual rates, are competitive for this service in Panama.

In addition to the vault services, Private Bank Vaults can have an armed guard pick you up from the airport or your hotel to bring you to the facility. If you arrive on your own, you have access to their private, guarded parking facility.

For anyone looking for a practical option for where and how to store valuables safely, this kind of private company is a good alternative to a bank, where, increasingly, you're not likely to be able to get a box anyway.

For more information on Private Bank Vaults' services, you can get in touch here.

Lief Simon

P.S. The owner of Private Bank Vaults here in Panama City is looking for investors to help expand his operation. If you're interested in the idea (I see this as a growth industry), you should speak with him directly about his business plan, etc. You can reach him here.Continue Reading:

• Retire To France

"Then look no further than these top investment markets for 2011.

"Each of the following cities is a location we expect to continue to perform well in terms of rental yields (all receive solid numbers of visitors every year). Investing in any one of them would be a chance for you to diversify your investment portfolio while testing the waters in a new location that might just turn out to be the overseas retirement haven with your name on it...

• Kuala Lumpur, Malaysia

  [myHabitat2] is a development in the heart of KL. It comprises a shopping center, offices, and residences. Serviced studios range from 603 to 1,141 square feet, and every suite is broadband-enabled and furnished with kitchen cabinets, stove, washing machine, dryer, and built-in wardrobes in all bedrooms. Onsite facilities include a 45-meter infinity pool and children's pool; squash court; gym; poolside café; and a children's playground.

Price: US$255,000 and up

• Puerto Vallarta, Mexico

  Located in the heart of La Cruz, "La Joya Huanacaxtle" is a low-rise condo development on the bay. Each 1,600-square-foot unit has two bedrooms and two bathrooms and is finished with ceramic floors and mini-split air conditioners in the bedrooms, living room, dining room, and kitchen (optional). Amenities include a swimming pool, fully equipped gym, snack bar, community area, business center, and gardens. Rental program available.

Price: US$199,000 (reduced from US$240,000)

• Panama City, Panama

  This sixth-floor apartment is in the El Cangrejo neighborhood of Panama City in a building with just two apartments per floor. The 2,017-square-foot unit has three bedrooms and three bathrooms and has been totally revamped. All bedrooms are equipped with fans and air conditioning. The apartment comes with one covered parking space. Close to movie houses, restaurants, casinos, fitness centers, and a lovely park.

Price: US$199,000

• Medellin, Colombia

  Located in the El Poblado neighborhood in the heart of Medellin, this 915-square-foot, one-bedroom apartment has views of the adjacent Campestre golf course, woods, and the city. It also has a maid's bedroom and bathroom, an office, balcony, 24-hour gated security, parking space, and a storage unit. Nearby are malls, supermarkets, restaurants, and shops. The homeowner's monthly fee is US$90.

Price: US$103,467

Kathleen Peddicord

Editor's Note: Each monthly issue of our Overseas Retirement Letter features property picks in key markets. More here...Continue Reading:

• How To Retire Overseas