The World’s Best Property Buys Right Now According To The World’s Top Property Investment Experts
“This is so rich. There’s just so much here… so much more than I expected… so many options… farmland, rentals, beach properties… so many interesting choices…”
–An attendee at Lief Simon’s Global Property Summit in Panama this week
This week’s Global Property Summit in Panama City couldn’t be more timely. We didn’t have anything to do with the market factors that are making right now the best time in our lifetimes to diversify into foreign property markets, but we’re sure as shootin’ moving as quickly as we can to take advantage of them.
We’re also doing everything we can to help all those in attendance at this week’s meetings in Panama do the same.
A surging U.S. dollar… an unraveling euro… countries just this side of crisis… others hurdling headfirst into collapse… middle classes expanding… formerly off-the-map spots opening up to tourism and development thanks to new airports and new roads…
We picked up this morning where we left off yesterday evening, with me pinning our expert panelists down on where, specifically, attendees should focus their attention and their investment capital…
Q: Which are your favorite markets right now for short-term rental?
Lee Harrison: First, Cuenca, thanks to its low point of entry (you can buy a good rental apartment for less than US$100,000) and high occupancy rates (95% is very attainable, thanks to the growing expat retiree market). Second, Medellín, which offers an excellent net return and a low cost of entry, especially at the current rate of exchange between the dollar and the peso.
James Archer: For me, coming from London, rental returns everywhere else look good. In London, you’re lucky to get 1%…
Here in Panama, though, it’s possible to achieve double-digit returns. Not in Panama City at current pricing but outside the city. I’d say look at Panama beach rentals…
Lief Simon: I like all three of those markets, but my favorite right now for short-term rental is the Dominican Republic. Good yields, low cost of entry, growing demand, and financing available.
Q: Favorite crisis market?
Lee: The crisis opportunity I’m watching is Brazil. The president is practically being run out of office. I’m watching to see how all the current drama plays out. Plus, the exchange rate is great. I’m also watching Argentina, where the president isn’t being run out but everyone is hoping she’ll be voted out in October…
James: Spain, especially for dollar-holders. Spain has always been a favorite buying destination among us Brits. It’s such a popular tourist spot. And I think this year is the year to buy in Spain again. Prices have already started appreciating in some localized markets.
Lief: Argentina. I’ve made money before in Argentina post-crisis, and I’m planning to do it again.
Q: Favorite growth market?
James: Panama. I’ve been living in Panama City for five years now, and I’ve never seen anything like what’s going on here. This country’s economy is on fire.
Lief: Istanbul. This city needs a boatload of new housing for its expanding middle class. You can get in for as little as US$50,000. I also really like Colombia for growth. I see Colombia as a country to be invested in for the long term.
Lee: Uruguay, where I see the path-of-progress play as land, not rentals.
Q: Perennial favorite buys?
Lee: My all-time favorite picks would be the beach areas of South America, where I’ve had very good luck buying and selling—specifically, Brazil, Uruguay, and Chile. I also like colonial cities.
James: Agriculture, for income.
Lief: My perennial favorite market is Paris, city center…
To be continued…
Editor’s Note: Resident videographer Joey Bonura shot a short from-the-scene video of Conference Director Lauren Williamson at our Global Property Summit this morning. Take a look.