Sunny weather and azure coasts are well-represented in this list of the top 10 locations worldwide to buy a retirement home. The list includes tropical locations like Brazil, Belize, Costa Rica and St. Lucia, along with the home for the 2010 Winter Olympics, Vancover, Canada. See the following article from International Property Journal for more on this.

Puerto Vallarta, Mexico
To even casual buyers, a second home represents both a major investment and a fantasy, an escape with the promise of riches and adventure.

Evaluating a market based purely on rental yield algorithms misses the swirl of emotions felt by the typical buyer, from retirees to jet-setting luxury home collectors. Yet sentiment can’t blind the financial reality of a hard asset worth at least hundreds of thousands of dollars, a big chunk of any portfolio.

Relevant factors in our assessment included uniqueness, affordability and the opportunity for capital appreciation. Security was also a big issue—both physically and financially. Locations with unproven demand were quickly eliminated, as were isolated locales catering to survivalists. The goal was to spotlight markets that combine a variety of factors, not serve niches like the best jungle locale or the best golf course market.

The list, undoubtedly, tends to be U.S. centric, a nod to our home base. Destinations like Cape Verde and Seychelles, for example, may be wonderful spots to buy a vacation home, but they are drawing few U.S. second home buyers. We also defined “second homes” strictly as vacation properties, getaway spots, which meant we left off Paris, Barcelona and other urban centers, where many people own second homes, but may not use them strictly as vacation getaway properties.

Preference was generally given to destinations off the theme park routes and away from the strips of hotel towers, tempered by recognition that it never hurts to have a Four Seasons nearby, in case of emergency. It’s the mixture of isolation and resources that make an ideal second home market, the ability to generate rental income and snorkel in warm waters without fear of getting run over by a cruise ship.

To calm the quibbling and sniping, the list is presented in no particular order, reflecting our inherent cowardice:

Riviera Nayarit, Mexico

Sure, Mexico is experiencing waves of violence and upheaval. “That’s the way it always is in Mexico,” shrugs a friend, who writes travel books on Mexico.

Often overlooked amid Mexico’s array of pre-fabricated Fonatur-designed tourism Meccas, the area north of Puerto Vallarta has experienced a mini-explosion of luxury home development in recent years. The master-planned area on Punta Mita, anchored by a Four Seasons and a St. Regis, offers the A-list, gated community lifestyle. Further up the coast a variety of projects are going up along a route of white-sand beaches, surfer spots and small fishing towns. Best of all, the starting point is Puerto Vallarta, one of Mexico’s classic, romantic old cities.

Natal, Brazil

You just can’t leave Brazil off these lists. The economy is booming, part of the BRIC resurgence changing the world. There are large swatches of barely developed, beautiful land. And now Brazil is set to host both the World Cup and the Olympics in the next six years, which should prove another jolt of adrenalin to carnaval. Putting Brazil on any list of hot investor spots falls into the “well, duh” school of analysis.

Of Brazil’s many hot spots, Natal stands out as the gateway to the northeast, Brazil’s top domestic tourist destination. While hardly a new market–the northeast coast attracts more than 7 million visitors a year—the stretch of coastline north of Natal “represents the best potential returns for private investors” in Brazil, Kapital Assets c.e.o. Keith Punler recently told a reporter. A new airport should also change the complexion of the area, offering more direct flights from Europe. As more infrastructure goes in, the spectacular coastline’s popularity as a second home destination should only increase.

Hermosa, Costa Rica

Never has an airport changed a location as dramatically as the Daniel Oduber Quiros International Airport in Liberia transformed Guanacaste, the stretch of rugged coastline on the northwest coast of Costa Rica. No more treks through San Jose and puddle jumpers over the mountains to get to the coast. Instead it’s an easy flight into Liberia and a pleasant 20-minute drive over a nicely-paved highway to the Guanacaste coast, which was in the midst of a spurt of luxury development before the slowdown.

Hermosa is a barely existent small town with few paved roads, a handful of open air restaurants and sporadic electric and water service on its own little cove, across Papagayo Bay from the Four Seasons Papagayo. With a small cluster of condos and luxury homes covering the hillside, Hermosa and neighboring Coco consistently rank as one of the most expensive places in Central America to buy an ocean view condo, according to Reveal Real Estate. Several large-scale luxury projects have been delayed in the area, including AOL founder Steve Case’s Cacique, a few miles south of Hermosa. When activity picks up, Guanacaste is set to develop as the Costa Rica Riviera.

Placencia, Belize

Someday—maybe a long time from now, but some day—Belize will develop as a spectacular second home market. The trick will be to preserve the spectacular natural wonders and isolation of the country, while providing more of the necessary amenities and creature comforts required by many North Americans.

Placencia, one of the few spots on the mainland coast with white sandy beaches, is something of a test case. Several mid-size developments are going up along the coast. The only road on the peninsula is finally getting paved. And Francis Ford Coppola’s Turtle Inn provides a level of upscale trendiness.

Yet Placencia remain remote, isolated, a quick hop away from the jungle or the underwater splendors of the world’s second largest barrier reef. Development continues to inch forward, with few signs of life from Ara Macao, the big project planned for the north end of the peninsula. While investment money and direct flights continue to flow, it will be years, probably decades, before Placencia gets that overwhelmed, too-crowded feel creeping into Ambergris Caye, Belize’s primary destination.

Mallorca, Spain

Spain may be struggling, but Mallorca still holds a special allure. The island provides a compact mixture of the Mediterranean yacht scene, old world expats and picturesque Spanish countryside, with only a dash of the throbbing disco scene found on other islands.

Sales on Mallorca are down by more than 60 percent from 2007 levels, but demand remains high for top-level property, according to recent reports. But valuations have fallen far less than other areas; even in tough times Mallorca holds its own. Offering both seaside retreats and quaint hillside villages, it is still seen as the perfect Mediterranean escape, an old school destination attracting a new generation of buyers.

Jolly Harbour, Antigua

In the array of Caribbean islands, Antigua stands out as a throw-back to old England. Richard Burton owned a house here and Eric Clapton built his high-end rehab clinic on the island (although he’s reportedly selling his estate). Antigua has a firmly entrenched status as a hideout for celebrity royalty, which rivals its reputation as a home for shady banking operations (Google: “Sanford Ponzi Scheme”.)

Antigua is high-end, yacht-friendly Caribbean, without the millionaire tourist clubs of St. Barts or the Cayman Islands. There is still relatively little development, which is mostly clustered around Jolly Harbour on the west coast. In 2007, even as other markets began to falter, Antigua prices zoomed 40 percent, one of the largest jumps in the world according to Knight Frank research. Nobody expects those types of leaps in the future, but it’s fair to say Antigua will remain beloved by the yacht and cricket set.

Vancouver, Canada

Geography has blessed Vancouver. It sits amidst a spectacular landscape of islands and mountains, a land where you can whale watch in the morning and ski in the afternoon. Situated a stone’s throw from the U.S. border, it is also the first stop and destination of choice for many Asian investors, assuring it will be one of the first to benefit from the growing number of Chinese and Korean buyers.

Home base of the upcoming Winter Olympics, Vancouver itself offers an array of towers and trendy apartment units, one of the best urban centers in North America. But move beyond the city and there is a wide array of markets, from the ski resort of Whistler, to the fishing rivers of Squamish, to the isolation of the gulf islands.

Hvar, Croatia

OK, it’s a wild card. The splintered countries of post-war Yugoslavia still have unresolved issues. But the Adriatic Coastline is spectacular and remarkably free of the clutter of most European coastlines. Most of amenities are still dreary throwbacks to the Tito regime.

But there is also an entrenched market in Croatia, long a favorite of German and Italian tourists. (German is the most common second language.) As it further integrates into the EU, property rules will align with the rest of Europe and traffic from the second home-mad U.K. will undoubtedly increase. There will be more cheap flights, more development and more access to property.

Hvar is a spectacular island off the Dalmation Coast, an easy ferry ride from Split. Steeped in the turbulent history of the Adriatic, Hvar is a rapidly growing tourist destination, with spectacular coves and secluded beaches. While hardly undiscovered, it is still new ground for the international industry, and its never-ending search for new islands.

San Diego, United States

The numbers don’t lie. Always one of California priciest markets, prices plummeted 25 to 35 percent in many neighborhoods. And those neighborhoods are spectacular, perched on a sun-splashed stretch of coastline with the best weather in the United States (marred only occasionally by brush fires of Biblical proportions.)

San Diego doesn’t have the vast over-supply of units found in, say, Florida, which means it will likely stabilize and bounce back quicker. Nevertheless, more than 7,600 condos units went up from 2001 to 2007 in San Diego’s downtown, which sits on the pristine bay. Many of those units are for sale, with prices that would have seemed ridiculous two years ago.

Rodney Bay, St. Lucia

Of the emerging islands in the Caribbean, St. Lucia has all the elements in place for steady growth. Its array of spectacular coves and beaches is augmented by its unique Creole culture, pristine twin Piton peaks and swatches of rainforest, a rarity in the Caribbean.

More importantly, investment money is flowing to the island, which is still in a relatively early development stage. Many of the second home projects are clustered on the north end of the island around Rodney Bay, where there are clusters of luxury homes. A fairly easy drive from the international airport as Castries, the area offers classic Caribbean style at prices below the sky-high offerings in Barbados.

Honorable mention: Inland Panama; Provence, France; Punta Cana, Dominican Republic; Riviera Maya, Mexico; Umbria, Italy.

This article has been republished from International Property Journal. You can also view this article at International Property Journal, an international property news and information site.

Posted on January 6th, 2010 by Tropicasa Realty
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Filmed in November in Puerto Vallarta (including coverage of a local Town Hall Meeting Paul Crist organized on Medicare in Mexico) for “The News Hour with Jim Lehrer.” (PBS)

Thousands of Americans are increasingly traveling to resort towns like Puerto Vallarta, not for vacation, but for the cheap health care. In many cases, reports Ray Suarez, for care they couldn’t afford in the United States.Transcript

GWEN IFILL: Now: As the health reform debate plays out in the U.S., some Americans are finding new ways and new places to get medical care.

Ray Suarez has the story.

RAY SUAREZ: South of the border, tourist season is just beginning. Beach-loving Americans are headed to Mexico’s seaside towns, reaching for the sunscreen and soaking up the local color.

But this year’s annual migration has a twist. Thousands of Americans are coming to places like Puerto Vallarta, not to dip their toes in the warm Pacific, sip a margarita, or browse a crafts fair. No, they are coming for health care, in many cases, care they could never afford to acquire in the United States.

DR. MAX GREIG: Tell me how you feel today.

STAN PACKARD: A lot better, oh, yes, wonderful.

RAY SUAREZ: Fifty-five-year-old Stan Packard flew to Puerto Vallarta to have his rip replaced.

DR. MAX GREIG: You know, it’s going to take about six to eight weeks before you can feel really comfortable with yourself. This only has been two weeks.

RAY SUAREZ: We caught up with him at the follow-up appointment with his Mexican orthopedic surgeon, Dr. Max Greig.

Had you ever been to Mexico before?

STAN PACKARD: Never. No, I just took a shot.

RAY SUAREZ: A pretty big step to take on your first trip to Mexico. You go fly down and come back with a new hip.

STAN PACKARD: Something had to be done.

RAY SUAREZ: Packard and his wife own a horse park in California that specializes in carriage rides. Caring for all the horses is a physically demanding job. And one of Stan’s hips just didn’t hold up. For years, it was causing him pain. But the Packards don’t have health insurance.

STAN PACKARD: When they told me I was for sure going to need a hip, then I knew I couldn’t afford it in the States. So, we started looking. In the States, they said it was $80,000 to $120,000.

DR. MAX GREIG: Pretty soon, you will be able to walk around without your…

STAN PACKARD: Without that?

DR. MAX GREIG: … your walker.

STAN PACKARD: Just the cane?

RAY SUAREZ: Packard went on the Internet and found a Texas-based company called MedToGo. It lead him to the Dr. Greig’s practice in Mexico, where Stan paid $13,000 for all travel and medical expenses.

Were you a little scared?

STAN PACKARD: I have never been in a hospital, you know, under surgery. I had never a broken arm, nothing. So — but I knew the pain I was having before I got here was unbearable. I wanted it done more than I was scared.

Hey, thanks, Doctor.

DR. MAX GREIG: All right, Stan, you have a great trip back there, OK?

RAY SUAREZ: Dr. Greig operates on more aging baby boomers every year. They choose Mexico for joint replacement surgery, not just for the cost savings, but also for the comforts of a city like Puerto Vallarta that already caters to tourists.

DR. MAX GREIG: We have a whole team that receives them at the airport. We make sure that they get accommodated in hotels and that they are transported from the hotels to their different appointments or to the hospital.

And then, after the surgery, once they are released from the hospital, we have nurses and physical therapists that visit them in their hotel. And this way, they can recover in a beautiful place, looking at the swimming pool, looking at the palm trees.

RAY SUAREZ: Greig is a member of the American Academy of Orthopedic Surgeons and touts his state-of-the-art facilities.

DR. MAX GREIG: We are using the same implants, same prostheses, same technique, but, here, we have a great advantage. We don’t have the liability costs as you can find in U.S. I pay, as a orthopedic surgeon, about one-tenth of what a — my colleague in the U.S. would pay for malpractice insurance.

RAY SUAREZ: And with one million U.S. citizens now living in Mexico, many of them retirees, private hospitals now advertise American-standard facilities.

Ten thousand Americans live in Puerto Vallarta, so many that local expats here are holding a series of town hall-style meetings about Medicare benefits.

PAUL CRIST, Americans for Medicare in Mexico: We all know that Medicare won’t cover your health care expenses when you are outside of the United States. And we have to ask, why not? And the fact is, there is no good answer to that question. Would it cost more to cover you in Mexico? No.

RAY SUAREZ: A group called Americans for Medicare in Mexico is lobbying Congress to amend Medicare rules to allow for health care coverage in Mexico, where medical costs are much lower.

PAUL CRIST: It would cost the Medicare program about half as much to cover you here as it costs to cover you in the United States.

RAY SUAREZ: Former Senate staffer Paul Crist, now a Puerto Vallarta hotel owner, is leading the campaign.

PAUL CRIST: I think it is a great deal for the taxpayer. I actually see this as a win, win, win, win. And I will tell you why.

First of all, it is a win for the retirees that live in Mexico and for the retirees that want to retire to Mexico. It is a win for Medicare because it saves money. It is a win for the Mexican economy because an influx of retirees will create jobs, good jobs, in Mexico.

RAY SUAREZ: But, with Americans already consumed by a debate over health care reform, the campaign may have a tough time getting attention in Washington.

In the meantime, some retirees are taking advantage of the insurance offered by the Mexican government’s social security system, called IMSS, or IMSS. For only $300 a year, Americans who can establish residency are offered an array of medical services with no deductible.

Susan Wichterman retired to Puerto Vallarta 12 years ago and now teaches yoga here. She signed up for the Mexican social security health plan as a backup, but soon suffered an arm injury, which required multiple surgeries.

SUSAN WICHTERMAN: All your specialists. I have seen traumatologists. I have seen gynecologists. I have seen psychiatrists. It is all paid for. Too good to be true.

RAY SUAREZ: But there are limitations to Mexico’s government plan. Anyone with a preexisting condition is excluded. The facilities are not cutting-edge. And if you are not in need of urgent care, the lines are notoriously long.

DR. MAX GREIG: It’s always overloaded with patients. There’s hundreds of people waiting on waiting lists. Surgeries are — there’s waiting lists for surgeries for up to about six months. And, so, it’s a system that you have to wait it out.

RAY SUAREZ: The social security program was originally set up for Mexican workers. But, so far, foreigners have been welcome. Just over 1,000 Americans in Puerto Vallarta alone are now enrolled.

Dr. Eduardo Montero is director of the IMSS Hospital in Puerto Vallarta.

Dr. EDUARDO MONTERO, director, IMSS Hospital in Puerto Vallarta (through translator): The motto at IMSS is social security for all. And, as far as the enrollment of foreigners, I don’t see a problem.

RAY SUAREZ: Even so, some health officials here worry that uninsured Americans could quickly overload an already burdened system.

But, as far as foreigners coming to pay for services on their own, industry leaders are embracing that idea. There is even talk of building assisted living and nursing homes here, so foreigners can capitalize on Mexico’s cheaper labor market.

Economic analysts say more than one million patients worldwide cross international borders annually for medical treatments. And places like Puerto Vallarta seem eager to host them.

GWEN IFILL: In his second report tomorrow, Ray will examine how the Mexican government is trying to improve health care for its own poorest citizens.

original

Posted on January 6th, 2010 by Tropicasa Realty
Filed under: News | Comments Off