Ever considered buying property abroad? Having a second home in, say Bulgaria or Nicaragua? Well, you’re not alone.
In fact, according to
this peice in the New York
Times, Americans are snapping up cottages and bungalows in countries across the globe, apparently in hope that the
governments of those places will remain stable and they won’t have their properties seized…something that used to
happen a lot more often.
I was actually completely inspired by this story. I’ve always dreamed of having a little place in Chile, and I kind of
thought this was my own little fantasy. Turns out it is the fantasy of lots of people to have a place in another
country, and they are actively doing it.
The hot spots appear to be in Europe. Nor Paris, obviously, because the City of Lights is just too damn pricey. But
Bulgaria, Romania, Croatia, Nicaragua…these are the countries where second home property markets are starting to
sizzle. What will a home abroad cost you? $65,000 got one guy a two-bedroom cottage in Croatia. For a mere $170,000,
you might get a beachfront house in Nicaragua. And for $85,000, you could be the proud owner of a one-bedroom duplex in
Recoleta, one of the city’s smarter districts of Buenos Aires.