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Modern technology has made the prospect of moving overseas much less daunting than in the not-so-distant past. The growing popularity of smart devices places a wide variety of applications at a user’s fingertips that can make the transition from casual traveler to seasoned expat much easier.

No matter what type of platform you have, these applications can make navigating the nuances of your new home both accessible and portable. In a real sense, these programs have transformed the way expats become integrated into their life abroad.

moving overseas

Sam Azgor

Essential Smartphone Applications for Moving Overseas

Perhaps the best way to prepare your smartphone or tablet for moving overseas is to first make a list of the kind of applications that you might need on a daily basis. Once you’ve identified your needs, group similar apps into those categories for easy access when you need them.

To demonstrate how this method can work for you, below are several major topics that expats frequently have questions or concerns about. Under each topic you will find some of the most popular apps that can help you with that issue.

Communicating With Others

Being able to communicate with your neighbors, especially in a new language, can be one of the most challenging aspects of moving overseas. The cost of making calls back to the U.S. (or elsewhere) can also be prohibitive.  Below are some of the best apps to stay connected and to make sure you’re clearly understood.

Skype

Skype has become the “go-to”  application for international travelers who want to be able to connect with friends and family, no matter where on Earth they may be. Having the ability to see who you are speaking to, as well as hear them, is one of the key features of this tool.

Once downloaded on your desktop or laptop, it is an easy matter to install the free app on any smartphone, sign in, and start up a conversation. Skype also has a number of fee-based options, such as unlimited calling and creating a personalized number, that can further enhance its usage.

Google Translate

This is a user-friendly, free app that allows you to type in or speak a word or phrase and have it translated instantaneously. You can have someone speak a phrase into your smartphone, and the app will immediately recognize the phrase and provide an English translation.

Likewise, you can also use the app to speak a phrase or question in English and have it played back in the desired language. It’s like having your very own translator right in your pocket.

Duolingo

Duolingo is a newer and very popular application for those who want to learn a second language, for free, while traveling. The wide variety of languages offered makes this a useful addition to any expat’s electronic toolkit. Although the learning level of the languages is basic at this time, being able to make yourself understood for most daily tasks, like shopping, will make the transition to expat life much easier.

WiFi Finder

Worried about getting stuck somewhere with no access to the Internet? WiFi Finder is another free app that can help you find Wi-Fi “hotspots” where internet access is available. Being able to reduce or avoid high phone bills or roaming charges makes this an essential app for new expats and experienced travelers alike.

moving overseas

myfuture.com

Banking and Money

Before moving overseas, doing some online research on bank fees for international transactions can save both time and money. Checking with your current financial institution is a good place to start in the process.

Nerdwallet.com and Wallethub.com

These are two great applications that let you compare the pluses and minuses of banks and credit cards in terms of international transaction fees and other benefits. Naturally, each of the financial institutions listed have their own websites that can be reached online.

XE Currency

XE Currency is widely regarded as the premier free application for currency conversion rates. Knowing how much (or how little) a dollar is worth, in terms of local currency, can help new expats better plan out their monthly finances. Comparisons can also be done on multiple currencies at the same time.

moving overseas

Matthias Ripp

Social Life

Perhaps one of the hardest parts about moving overseas is trying to build up a social life. Between the language barrier and not knowing where to go, the expat life can be a bit isolated in the beginning. Fortunately, there are a number of apps that can help.

Facebook

This app, which you may already be using, is probably the most popular and best known smartphone app in terms of social interaction. Being able to look up groups or individuals, seek out topics, and put your own information online can all help to build your social circle in your new home.

Meetup

Meetup is a newer, free application that is rapidly gaining in popularity. By filtering by location and interests, you can find like-minded people and events that can help you interact and expand your connections beyond your immediate home area.

Nearify

This is another newcomer to the expat-focused app world. Covering more than 200 cities worldwide (and growing), with this tool you can discover more than 20 million events that can help you get out and mingle.

21st Century Technology Makes Moving Overseas Easier

The number of applications available for smartphones and tablets will continue to grow as user demand increases. Having access to the information available in these apps, while on the go, has transformed the expat experience in ways that were unthinkable just a short while ago.

Combined with increasing Wi-Fi connectivity and advances in the quality and capacity of mobile devices, more people are considering the benefits and promise of the expat lifestyle. Grab your phone and explore the possibilities!

There are a number of reasons expats love Belize as a retirement destination. This small Caribbean nation (population roughly 370,048) has seen a steady growth of new expat arrivals with about 1,600 more expected by the end of 2016.

Even with all of the positive aspects of moving to Belize, this tropical destination may not be ideal for everyone. Like every expat destination, it has its pros and cons. It’s important to weigh them carefully, in light of your own personal priorities, in order to decide if Belize is right for you.

reasons expats love Belize

Walter Rodriguez

Why Expats Love Belize

Expats love Belize because of several unique characteristics that have become the hallmark of this former British colony. The top reasons for this rise in popularity are listed below:

The Importance of Language

For many retirees and potential expats, a major concern is how to get along in a foreign country where English is not the primary language. Belize is the perfect choice for those who are not comfortable with Spanish.

English is the principal language in the country, both in day-to-day and, even more importantly, in all official and governmental transactions. Being able to easily communicate with native Belizeans in business and social settings makes for an easy adjustment.

Money Conversion Is Not a Problem

Belize does have its own currency, the Belizean dollar (BZD). However, the U.S. dollar is widely accepted for personal and commercial business. For those rare instances when local currency is needed, the conversion rate is simple to calculate: 2 BZD=1 U.S. dollar.

Location, Location, Location

When people retire, one of the major drawbacks that can keep them from following their tropical dream is the distance from family and friends. The announcement that you are moving out of the country can often be met with resistance and disapproval from those close to you who are concerned about keeping in contact.

One of the biggest reasons that expats love Belize is how close it is to the U.S. With a variety of regularly scheduled flights to and from Phillip Goldson International Airport, located in Belize City, staying connected to loved ones is convenient and inexpensive.

reasons expats love Belize

Eric Camm

Home Sweet Home

Foreigners can hold real property in their own name in Belize. Ever since the abolition of the Alien Landholding Act in 2001, there are no requirements, special licenses, or permits required for non-residents to own their own home.

What’s more, it is far easier to purchase beachfront property in Belize than in most other countries in the Latin Tropics.  For those looking for an investment possibility, owning an oceanfront parcel can result in a good return on the initial cash outlay. With a growing list of properties on the market, finding your ideal home in paradise may be just a mouse click away.

People and Places

With so many Belizeans having U.S. connections, it is not surprising that new arrivals are welcomed as neighbors and new residents. Entry into the country is especially easy for citizens of North American countries or the U.K. who do not need visas for entry.

The variety of opportunities to explore and enjoy all that this country offers is yet another reason why expats love Belize. From the ancient Mayan ruins at Altun Ha, Caracol, and Lamanai, to the natural wonders of Belize Barrier Reef, the second largest in the world, to the mysterious Blue Hole, Belize combines culture and adventure with a laid-back tropical vibe.

The Two Things Expat Hate About Belize

While there are lots of reasons why expats love Belize, there are two major factors that many expats hate about their move to Belize. By looking at these negative aspects, you are in a better position to decide whether this is a move that you want to undertake.

reasons expats love Belize

anoldent

Time Is Relative

As is the case with many countries in the Latin Tropics, the importance of time is dramatically different than what most North Americans are used to. Expecting things – such as repairs or governmental functions – to be completed at the same rate as they would be “back home” can lead to a great deal of frustration and angst.

Ironically, one of the elements that can add to this sense of frustration is the natural desire to please that is a prominent feature of Belizean culture. Belizeans may say “maybe” or “possibly” instead of “no.” This kind of cultural difference is one of the biggest complaints many expats have expressed about their experience.

There’s Still Room for Improvement

There is so much in Belize that reminds expats of “home.” English is the spoken language. American television is watched by almost everyone. And in Belize City and other developed areas of the country, the modern amenities are similar to what you’d find in most U.S. cities.

However, the real downside of living here is that many items – especially big ticket items like appliances, electronics, and vehicles – are not readily accessible and, when they are, prices are much higher than one would expect back in the U.S.  Even smaller items, like clothing, food products, and over-the-counter medicines can be a real challenge to find.

The combination of high import taxes, limited or no supply, and lack of major retail centers is another feature that many expats hate. They eventually learn to get by using locally-sourced products, but the adjustment period can be an issue for some.

Love or Hate It, Belize Is Worth a Closer Look

Everyone’s idea of retiring in a tropical paradise is different. Belize, with its positives and negatives, may or may not be the ideal place for the next phase of your life. Researching the country, visiting it, and being realistic about your own expectations is the best way to help you decide whether Belize is right for you.

 

There are a number of destinations that can be included in a list of the healthiest places in the Latin Tropics. The abundance of fresh foods, a more relaxed pace of daily living, and the tropical climate are just some of the features that have made the region a long-time favorite destination for retirees and other expats looking for a better quality of life.

This compelling combination has dramatically increased the interest of U.S. residents in finding alternative approaches to their current living arrangements. It is not just the locations themselves, but the qualities and opportunities that can be found there, that promise an overall healthier lifestyle – both on the physical and the emotional levels.

What Makes the Healthiest Places in the Latin Tropics Special

There are a number of qualities that the healthiest places in the Latin Tropics all seem to share. Below is a list of these factors that contribute to the wellbeing of locals and expats alike.

Fresh Fruits and Vegetables

Finding fresh produce in the tropics can be as easy as taking a short walk or drive to one of the countless roadside stands or weekly farmers’ markets that are a fixture of life in these countries.  The wide variety of locally grown products is not only less expensive but makes it far more convenient to prepare meals from scratch – leading to another element that makes life in the tropics a healthy alternative: diet.

healthiest places in the latin tropics

Geoff Baker

Healthier Diets

There is certainly a much smaller emphasis on pre-packaged or “fast” food in the Latin Tropics. As a result, more meals are prepared fresh, instead of out of a container or microwavable box.

Additionally, there is not as much emphasis on red meat in the region, the preferred protein sources being poultry or fish. These kinds of diets have been shown to be healthier in terms of reducing fat and cholesterol.

Better Climate

Having more sunlight, warmer temperatures and less extremes in climate (i.e., winter cold to summer heat in a short period) has shown to be more conducive to better health. Aside from the physical benefits of Vitamin D, the abundance of sunlight also helps combat Seasonal Affective Disorder.

Appropriately abbreviated as SAD, this type of depression brought on during the shorter periods of daylight during the winter months impacts roughly three million adults yearly. Given that daylight hours only vary about fifteen minutes during the seasons, life under the tropical sun is emotionally healthy as well as physically healthy.

Less Stressful Pace of Living

If there is one thing that is the hallmark of the Latin Tropics, it is the slower, more relaxed pace of life.  The stress of facing crowded streets, time clocks, and the omnipresent “noise” of the 24/7/365 connected world is replaced by the far more tranquil natural rhythms of the ocean, tropical rain forests, and small villages.

While the slower pace of getting things done (such as repairs or building projects) can take some getting used to, the physical benefits are worth the extra time spent.  It can truly be said that, in terms of daily living, you do without doing and it all gets done.

More Active Lifestyle

One of the most important features that all these locations share is a more active physical lifestyle. Warm weather is more conducive to outdoor activities that can range from merely walking to more strenuous forms such as swimming, surfing, and other sports.

The Top Five Healthiest Places in the Latin Tropics

Here is a list of the top five healthiest places in the Latin Tropics. While each one has its own unique characteristics, they all share qualities that make them desirable of destinations for those seeking to find their own personal “fountain of youth.”

healthiest places in the latin tropics

Wikipedia

5. Volcán/Boquete, Panama

Located in the Chiriquí province of Panama, the Volcán/Boquete area boasts access to an abundance of fresh produce, herbs, and coffee and is known as the “breadbasket of Panama.” The moderate temperatures, low humidity (thanks to being 4000 feet above sea level), and a tranquil sense of wellbeing, all contribute to a more active lifestyle.

The region also can claim longer life spans for its residents than the rest of Panama. Boquete has been singled out by AARP magazine as one of the top places to retire in the entire world.

4. Playa Gigante, Nicaragua

This rustic fishing village on the Pacific coast of Nicaragua is rapidly becoming a mecca for a growing number of alternative health and yoga spas. With a very laid-back lifestyle, ready access to fresh fish and produce, and natural beauty of one of the country’s ecological centers, healthy living in Playa Gigante comes easily.

healthiest places in the latin tropics

Jon Hurd

3. Lake Atitlán, Guatemala

Aside from its breathtaking vistas, Lake Atitlán, Guatemala is becoming recognized as a place for retirees seeking a healthier lifestyle. With some of the best weather anywhere, the rich Mayan culture (still very much in existence), abundant fresh produce, and a variety of outdoor activities to enjoy, Lake Atitlán’s popularity as both a tourist destination and a retirement location continues to grow.

healthiest places in the latin tropics

Presidencia de la República del Ecuador

2. Vilcabamba, Ecuador

It may come as a surprise to many that Vilcabamba, Ecuador is included in this list. Located in what is has become known as the “Valley of Longevity,” local residents claim to reach life expectancies well past 100 years.

While there is no hard evidence to support this claim, the mild climate, abundant fresh air (no pollution), low animal fat diets, and active lifestyle certainly are positive factors for healthier living. The natural beauty and relaxed pace of life in the valley also contribute to the growth of Vilcabamba as a top retirement destination.

healthiest places in the latin tropics

Carlos Adampol Galindo

1. Nicoya Peninsula/Nosara, Costa Rica

Featured in the book, The Blue Zones, the Nicoya Peninsula – and Nosara in particular – has become the best known of top healthy places in the Latin Tropics. The ready access to fresh produce and seafood combined with a more relaxed outdoor lifestyle has created an environment where longer life spans are the rule, not the exception.

Healthier diets and more physical activity seem to be only part of Nosara’s secret. The growing number of alternative therapies, such as meditation and yoga, create an atmosphere where life can be embraced as opposed to just being lived.

Finding That Longer, Healthier Life Path in Paradise

Visiting the locations mentioned above (or others in the region) could be the first step to discovering what the healthiest places in the Latin Tropics could offer as a lifestyle choice. Learning where and what resonates with you is a great place to begin your quest for a healthier, happier existence.

The beaches of Ecuador are some of the best kept secrets in the Latin Tropics. These oceanside destinations are rapidly gaining the attention of expats looking for a life filled with sun, sand, and water as well as foreign investors who are recognizing the potential for strong returns on investment in these communities.

Sprinkled along Ecuador’s Emerald Coast, each of these locations has a unique character that ranges from vibrant party and surfing towns to more sedate, higher end resort communities. The five locations listed below can truly be said to be the gems of Esmeralda.

What Makes Ecuador Beaches Special?

What makes the top beaches of Ecuador special is the fact that they aren’t as well known as other beach communities in the Latin Tropics. In a real sense, expats have the opportunity to explore and discover new and exciting locations that they may not have been previously aware of.

What follows, in no particular order, is a list of the best of these seaside destinations.

Beaches Of Ecuador

Rinaldo Wurglitsch

Salinas/La Libertad/Ballenita

Perhaps the best known beach town in Ecuador, Salinas offers the high-rise modern lifestyle that many expats enjoy. The combination of modern amenities, combined with a wide variety of outdoor activities, and great weather, have made Salinas the “go-to” spot for foreigners and expats alike.

Whale watching, surfing, parasailing, and even skydiving as well as a vibrant nightlife are just some of the many activities that Salinas offers. For those seeking more tranquil alternatives, the nearby thermal baths and spas are a powerful draw.

For those looking for something a little less crowded, nearby Libertad is a commercial hub that is working to build up its beachfront as well as the pier areas to make it more attractive. For those looking for single family homes, the quiet community of Ballenita has some outstanding bargains for ownership and/or investment.

Beaches Of Ecuador

Jorge Luis Perez

Olón/Montañita

Montañita has long had the reputation for being the most lively beach town in Ecuador. Native Ecuadorians travel here to enjoy the surf and the party atmosphere – particularly during high season (January to April).

The nearby community of Olón has a growing expat population and is far more serene than its more boisterous neighbor. With stunning beach vistas all its own,  living in Olón offers the best of both worlds–a quiet home close to a bustling and energetic entertainment center.

Beaches Of Ecuador

Canoa/Bahía de Caráquez

Two of the most up and coming beach towns in Ecuador are Canoa and Bahia de Caráquez. Canoa is a small village favored by surfers and backpackers but rapidly expanding into a more dynamic tourist and expat destination.

Bahia, just a short distance away, has grown into a mecca for expats looking for high-rise living. Being located on a peninsula between the Rio Chrone and the Pacific Ocean, Bahia has also become a favorite port-of-call for world-class yachtsmen (and women) from around the globe.

This dynamic combination promises to increase property values and development. The modern infrastructure makes it especially attractive to retirees and investors desiring tropical charm with the promise of a good return on initial outlay of investment funds.

Beaches Of Ecuador

Ronald Saunders

Crucita

Crucita has been favorably compared to Jaco, Costa Rica. Like Jaco, Crucita first gained attention as a destination for adrenaline junkies – in this case paragliding and hang gliding, while Jaco focused on surfing.

This has lead to a growing expat community and a continually improving and developing infrastructure. Crucita’s location, close to both Manta and Portoviejo, makes it an ideal spot to access the benefits of major urban centers while still be removed from the more frantic pace of those cities.

While Crucita continues to grow, it still retains much of its small, fishing village vibe. This quality is what is luring many retirees and expats who want a quieter pace but still within easy distance of larger expat communities.

Beaches Of Ecuador

Mompiche

At the opposite end of the scale from high-energy locations like Montañita and Salinas, is the quiet fishing village of Mompiche. It is the most rustic place on the list and is a perfect destination for those looking to disconnect from the 24/7/365 world and just enjoy the tranquility of living by the ocean.

Owning a Part of the Top Hidden Beaches of Ecuador

The allure of these Ecuadorian destinations has increased the interest level of those seeking a tropical destination close to the ocean. The real estate market, while still feeling effects of the 2008 recession, has a number of real jewels that can be had for a surprising affordable price.

A prime example of what you can find in these ocean side communities is this new 2 bedroom, 2 bath house overlooking the ocean for $85,000. Located in Ballenita, it could be the perfect seaside retreat or investment property in a growing area.

Some Beach, Somewhere

As can be seen from the above list, the top beaches of Ecuador provide a range of opportunities from rustic to high-end modern. Exploring them for yourself is the best way to find the sun and sand location that is right for you.

ecuador-star-01

Jesse Bayer

The History

Measured by nearly any economic or social metric, Ecuador enjoyed a sustained boom between 2000-2014.

However this was a relatively new phenomenon for the small South American country. With the approximate landmass of Colorado and a population of just over 16M, Ecuador has experienced tremendous change over the last 30+ years.

As a result of popular revolts against government corruption and mismanagement, Ecuador saw seven different Presidents take office between 1992 and 2007 – there was even a brief time in 1997 where three different individuals claimed to be president of the country simultaneously!

Dollarization following the collapse of the Sucre in 2000 marked the beginning of stability and greater prosperity.

According to The World Bank, GDP rose from $18.3B in 2000 to over $100B in 2014 with the poverty rate dropping from 64.4% to 22.5% over the same period. Population growth, life expectancy and crime rates saw similar positive trends.

For those who understand the mechanics of money creation and that asset prices are inextricably levered to The Money Supply, it will come as no surprise that according to tradingeconomics.com, Ecuador’s M2 Money Supply also increased – from $11.79B in 2007 to approximately $40B in 2015.

According to the same source, consumer credit expanded at a similar rate, rising from $4.9B in 2007 to approximately $16.5B at the end of 2014.

This boom, partly fueled by the increase in money supply and a credit expansion, also coincided with, and was driven by, several larger trends taking place at the national level.

With Rafael Correa’s election in 2007, corruption began to decline and government spending, largely on infrastructure, began to increase.

According to Trading Economics, government spending increased from approximately $368M in 2000 to $2.5B in 2015.

This meant that ports, airports, roads, healthcare, drinking water, sewers, electricity, education, police, and fire were brought up to international standards.

According to a recent survey, conducted by the InterAmerican Federation of Construction Industries as part of the Global Competitiveness Report for 2014-2015, Ecuador ranks fourth in quality of infrastructure in Latin America.

Much of this expenditure was funded by oil revenue. Starting in early 2004, oil prices began to steadily rise, giving OPEC member Ecuador a steady source of capital to finance spending. Oil revenue accounted for as much as 40% of all Government revenue during the strong run for oil prices between Q1 2004 and Q4 2014.

ecuador-star-02

Jesse Bayer

Where Things Stand Today

A confluence of challenging economic factors hit Ecuador towards the beginning of 2015 that have affected the country greatly and play a big role in the country’s outlook going forward.

Oil prices began to plunge beginning in June/July 2014 and, while they’ve bounced off their lows, have yet to recover to post-2004 levels.

In addition, a strengthening dollar has hurt exports.

At the same time, early 2015 marked the end of a credit and construction cycle – credit began to tighten and construction slowed.

These factors led to budget cuts and a soft job market.

To make matters worse, President Correa in May 2014 announced plans to increase the capital gains and inheritance taxes to levels that caused some amount of capital flight. The proposals have yet to be enacted and it is unclear if they will, but the damage was done.

As a result of these factors, GDP was essentially flat in 2015 and is expected to be negative in 2016.

The government’s response to these headwinds has been to raise taxes and seek external sources of funding in the form of debt.

Rising tax revenue, along with recent loans from the IMF and China have served to cover budget shortfalls for now, but with the state continuing to grow and the environment becoming more difficult for the private sector, barring a significant rise in oil prices these are not sustainable solutions.

ecuador-star-03

Jesse Bayer

What Does It All Mean?

Ecuador is an amazing country. The climate, variety and natural beauty of the landscape, amazing people, low cost of living, great infrastructure, and the quality of life attainable here are second to none.

As a place to live, it’s hard to beat.

Having relocated from New York City over three years ago, purchasing land, starting a project, and launching a business I couldn’t be happier with my decision.

However, as an entrepreneur/investor evaluating Ecuador, one must consider the pros and cons.

On the positive side there is tremendous opportunity. With only a decade plus of political and economic stability, Ecuador is a relatively new market. Many goods and services that would have significant demand have not yet been brought to market.

Tourism is seeing amazing growth. According to World Bank statistics, Ecuador saw 511,000 tourists visit in 1998. That number rose to 968,000 by 2009 and 1,557,000 in 2014.

In addition foreigners are moving here to live in increasing numbers. Ecuador consistently shows up at the top of publications ranking the best places to retire. While foreigners have settled in places like Cuenca, Banos, Cotacachi, Vilcabamba, Quito and several others on the coast like Manta and Montanita for several years, the rest of the country largely still has yet to be discovered internationally.

From this perspective, Ecuador is in the sweet spot – being a relatively new market, with incredibly attractive attributes such as a varied and amazing climate, great infrastructure, political/social stability, excellent safety, abundant natural resources with excellent tourist/expat growth –offering the right mix for successful investing.

The other side of the coin is the business climate. Current President Rafael Correa considers himself a socialist. He has taken a considerably anti-business, anti-wealth stance as born out by his tax and regulatory policy.

The World Economic Forums Global Competitive Index for 2015-2016 ranks Ecuador 76th out of 140 Nations and 9th in Latin America.

Steep import taxes, a 14% Value Added Tax, inheritance taxes, a 22% corporate tax rate, 35% personal income tax, and a myriad of burdensome rules and regulations have made it more difficult to succeed as an entrepreneur/investor.

Asset prices have of course been affected by the economic situation. Capital has become scarce.

This is an interesting development for real estate as Ecuador, in addition to being such an attractive place to settle, is home to some of the most fertile and resource rich land in the world.

As real estate prices have begun to decline, an already comparatively inexpensive asset has become cheaper.

In addition, investment opportunities for those with capital are more plentiful with potentially better returns as business owners and entrepreneurs have to turn to private financing.

With national elections coming up in 2017, it is unclear what direction Ecuador will take.

With another decade of rule ideologically aligned with that of Rafael Correa, a future like that of Venezuela is not impossible to imagine. However, with a little less spending/borrowing and less controls on business it’s easy to see how Ecuador could capitalize on its amazing potential and insert itself into the conversation as one of the best opportunities in the world.

This article was written by Jesse Bayer. Jesse sold his real estate holdings in New York City and left for Ecuador with his family and business partner in July 2013. Since then Jesse has begun a large-scale development project and co-founded Abundant Living Ecuador, a real estate and relocation services firm based out of Loja.  You can contact Jesse on our contact form.

For many expats, the decision to go south comes down to a simple question: Will moving to Costa Rica make you happier? The answer, as those who have chosen the “pure life” would tell you, is YES! It probably will.

The reason, in a nutshell, is that Costa Rica is one of those places where a number of factors come together to make a happier, healthier style of life. There have even been a number of studies that have actually examined what makes living in this tropical paradise a more positive experience than other locations.

Moving To Costa Rica

Vytautas Serys

What Makes Moving to Costa Rica the Happier Choice?

There are several reasons that moving to Costa Rica can foster a happier and healthier life. Several of the major factors are listed below:

Pura Vida Is More Than Just a Catchphrase

As anyone who has ever visited Costa Rica will tell you, the phrase “pura vida” is an almost universal greeting – both among locals as well as expats. This greeting, which translates as “pure life,” is more than just words. It’s a whole philosophy.

This idea that choosing the path of happiness regardless of your current circumstances is apparent everywhere in the country. It has come to symbolize the idea of simply enjoying life and all the potential that tomorrow may bring.

This attitude certainly seems to contribute to the health and longevity of both “ticos” (native Costa Ricans) and expats. Embracing pura vida is a major reason for the overall feeling of happiness of living in this tropical paradise.

Moving To Costa Rica

Kurt Bauschardt

Being Closer to Nature

Costa Rica’s commitment towards the environment also impacts how happy people are. Being closer to nature on a daily basis certainly provides a less stressful, more serene state of mind than confronting the controlled chaos of all that is modern living in most major metropolitan areas.

In the World But Not of It

Costa Rica has not had a standing army since 1949. By not being bombarded by the 24/7/365 news cycle involving world conflicts, Costa Rica has become, literally, a tropical refuge in a very increasingly uncertain world.

The Science of Happiness Supports the Costa Rican Choice

A number of recent studies have actually been able to quantify the observation that moving to Costa Rica can make for a happier life.  Below are two examples of the findings of these studies:

Happy Planet Index

The Happy Planet Index (HPI), computed by the New Economics Foundation, a UK think tank, is widely regarded as the leading source in measuring well-being on a global scale. For the third time since 2009, Costa Rica has risen to the number one spot out of the 151 countries evaluated.

HPI not only tracks happiness, but also how efficiently this is produced when measured against impact on the environment. Though having a GDP (gross domestic product) only a third of the size of the U.S., Costa Rica’s average life expectancy (79.1 years) and sense of well-being among residents showed that happiness does not have to be equated with wealth.

Moving To Costa Rica

thejaan

The Science of Happiness

As part of a recent online course entitled The Science of Happiness, sponsored by UC Berkeley, 40,000 students from around the globe took part in a survey where they answered questions about their happiness levels based on a number of factors. The results of this project found that Costa Rica ranked as the number one happiest nation on earth.

Based on global subjective beliefs, separate from individual life-specific events, a list of 25 countries were ranked on a scale. Some of the elements included in the study were “satisfaction with life,” “flourishing” (life with a purpose), “loneliness,” and “stress.”

Costa Rica finished at the top in two categories and was number two in the least stressed countries on the list. While not the wealthiest country in the study, the land of Pura Vida clearly has some aesthetic qualities that quantitatively demonstrate that money can’t buy happiness.

Moving To Costa Rica

fredsharples

Living in Paradise Is Still Possible

One of the major concerns for many potential expats is the availability (and cost) of housing. Fortunately, Costa Rica has a wide variety of options that range from rustic fincas (farms) to high-end condominiums and much in between.

As the country continues to develop its Southern Pacific and Caribbean zones, both in terms of infrastructure and accessibility, new housing options will continue to appear. Perhaps the best way to begin your search for your place in paradise is to visit the Land of Pura Vida, explore the various regions, and discover which area resonates with you.

Ultimately, finding a location that you want to call your forever home, nestled in a tropical paradise, is an important first step in embracing the happiness of moving to Costa Rica.

For example, a rustic 1 bdrm, 1.5 bath home on an acre of land in the highly desirable Nosara area is only $137, 000. Being able to live in one of the country’s Blue Zones would be a tremendous step towards a happier life.

So Is Moving to Costa Rica a Guarantee of Happiness?

Moving to Costa Rica can be the opportunity to transform your existence. However, life is not filled with absolutes or guarantees. No place on earth is perfect for everyone. Not to mention, what you get out of relocating to paradise largely depends on what you put into it in terms of outlook and openness.

If you think moving to Costa Rica could be the key to your happiness, it’s certainly worth a second look.

Colombia has made its presence known on expat radar in recent years. Following the turbulence of the latter part of the twentieth century, this Latin American destination is in the process of reinventing itself to be more attractive to investors, retirees, and others seeking new vistas outside of the U.S.

Like any emerging country, Colombia has positive and negative elements that should be considered before making a decision to move there. Discovering what the pluses and minuses are, and measuring them against your own requirements, can be an important step in deciding whether this is the tropical destination for you.

Colombia: The Positives

Colombia has made a good deal of progress in actively attracting foreigners – both to live and, more importantly, to invest – during the 21st century.  The potential for return on investment and a growing expat presence have helped to accent many of these positive improvements.

Colombia

Iván Erre Jota

A Growing Expat Presence

One of the many features of moving to Colombia is the growing expat community that can be found in places like Medellín. These enclaves make it far easier to transition to life there than you might imagine.

An important element of this growth is that the infrastructure of the country will continue to improve in order meet the demands of this foreign population. Having amenities like high-speed internet, cable television, and good cellular service will increase the value-added potential for those seeking to make a long term commitment.

The Culture

Colombia

Wikimedia Commons

Colombia has a vibrant cultural tradition that makes living there both exciting and pleasurable. The country is said to have more national holidays than any country except for Argentina.

In addition to the countless local celebrations, the salsa festivals in Cali, the celebration of Carnival in Barranquilla, or the many art festivals and museums in Medellín, it becomes easy for tourists and expats alike to become immersed in the cultural diversity that Colombia offers.

The Climate

Colombia is actually made up of six distinct climates, which also include the islands in the Caribbean and the Pacific. From the mountain weather of the Andes, to the tropical beaches of Cartagena, to the Amazon rain forests of Leticia, Colombia’s weather and biodiversity makes it a unique destination to consider as an expat.

Convenient Travel Options

Many major U.S. carriers, such as Delta, United, and American offer service to Medellín and Bogotá.  As the growth in tourist and expat travel increases, it can be anticipated that additional travel options will also become available.

Colombia: The Negatives

With all the progress that Colombia has made in recent years, there are still some important issues that a potential expat or investor may wish to consider. Some of the concerns are listed below.

Infrastructure Away from Major Cities

Colombia is still an emerging nation and, as such, much of the infrastructure is still in a rustic state.  Once you are outside of major population centers like Bogotá, Cali, Medellín or Cartagena, modern amenities are much harder to come by.

As a result, the majority of expats tend to focus on these metropolitan areas. If you are not interested in living in a major city, finding a suitable location in Colombia may be a difficult challenge to overcome.

Crime

The breaking of the stranglehold of the cartels and the recent cease-fire between the Colombian government and the Revolutionary Armed Forces of Colombia (FARC) – which brought to a close 50 years of violent confrontations – are promising steps to reducing crime in Colombia. However, there is still a lot of uncertainty concerning the future.

Colombia still has a criminal element that exists both in the cities and rural areas. The Bacrim – local crime gangs – still operate and target both foreigners and locals.

This kind of uncertainty can certainly be viewed as a detriment to expats seeking to escape similar problems in the U.S. Diligence and knowledge is required in order to avoid those areas that are known to have high incidences of violence or criminal acts.

The Language Issue

Colombia

Michael (a.k.a. moik) McCullough

As is the case with many countries in the Latin Tropics, Colombia is predominantly Spanish-speaking. Outside of the expat areas in Medellín and Bogotá, finding large groups of English speakers may be somewhat problematic.

If you already have some ability to speak Spanish, Colombia is a great place to become more fluent. If, on the other hand, the idea of moving to a country where you need to learn a new language (just to get around) seems too hard, Colombia may not be your first choice.

Cost of Living

This item actually is both a plus and a minus.  It is true that prices for many items, including rent and real estate, are less than other Latin Tropic countries. That being said, however, Colombia is not the least expensive destination in paradise.

In a very real sense, Colombia epitomizes the adage “you get what you pay for.”  Highly developed expat magnets, such as El Poblado, offer modern amenities many expats crave although at a higher price than other parts of the country.

Residency

The rules for residency in Colombia are more complicated than other destinations in the Latin Tropics. While foreigners can live and own property in the country, the process to obtaining permanent or long-term residency can be too arduous for some.

Weighing Your Options

Colombia is very much a “work in progress” insofar as foreign investment and expat growth is concerned.  Apart from shedding the image of its troubled past, Colombia also has the challenge of growing from an emerging country to a preferred Latin Tropic destination.

When weighing your options concerning relocation to Colombia, understanding where the country has been, what life would be like in the present, and the potential for the future are all elements to measure. As with any other country, the first step is to visit there – more than once – to see what your sense of the place is.

Asking yourself whether you can envision life in Colombia is the single most important question in the expat/investor process. When you have that answer, your future course of action becomes a clear choice.

Colombia has achieved peace and is increasingly regarded as good place to consider for living and investing.

With such a tumultuous history the question is, is this a good idea?

We speak to Park Wilson co-founder of Viva Tropical about his recent trip to Colombia.

When he left Panama to visit Colombia he was seriously considering the move and now that he is back you can listen to what he thought and if he will indeed leave Panama for Colombia.

Park also discusses investment opportunities, his favorite spots, and the big question on most people’s minds, is it safe?

Josh and Park also compare and contrast Colombia to other countries in the Latin Tropics.

Tune in and listen now.

In this episode, we discuss:

  • Investing in Colombia
  • Safe Areas
  • And Where to Live for the Best Quality of Life

And much more.

Listen to the show

You can listen to the show using the player above or grab it and listen on the go via one of the following options:

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We appreciate your reaction to episodes of Viva Radio and feedback about how we’re doing.

Send us your thoughts any time in an email or comment below.

 

Did you know you can use your 401k to invest in Real Estate?

Well, you can and not only that you can invest in several other assets besides real estate too.

This means you can get your money outside the volatile world of the stock market and make investments on your own terms. You can even get your money outside the U.S. to take advantage of emerging markets. Find new opportunities and get in early before it is too late.

On this episode we speak to Ross Powell, who spent 30 years in the banking industry only to find out the system was rigged against the little guy.

Ross decided to start his own company that helps people gain control of their retirement finances and invest in things that make sense.

His company shows people how to use their 401k to invest in tropical real estate, gold, farming, and pretty much any other hard asset.

Tune in and listen to the discussion and learn how you can use your own 401k to buy real estate in the tropics, loan yourself money, or invest in hundreds of other things.

In this episode, we discuss:

  • The rules for investing with a 401k
  • What it costs to self-direct your 401k
  • And how you can have complete control with your checkbook in about 10 days

And much more.

Listen to the show

You can listen to the show using the player above or grab it and listen on the go via one of the following options:

React to the Show

We appreciate your reaction to episodes of Viva Radio and feedback about how we’re doing.

Send us your thoughts any time in an email or comment below.

The Show Notes

  • Ross’s website is called Survival401k.com. You can learn more about his services by clicking the link.

San Miguel de Allende has remained one of the most popular expat and retiree destinations through the Latin Tropics. Rising almost phoenix-like from near obscurity, this colonial city has metamorphosed from silver mining center to a Bohemian/artistic colony to a 21st century expat magnet.

The combination of a rich colonial past and an urban cosmopolitan present make living in this mountain community a rewarding experience. In contrast to much of the rest of Mexico, San Miguel de Allende has developed into a unique hybrid of Mexican and American culture.

Expats in Mexico

Expats in Mexico photo by Jack Newton

San Miguel de Allende-An Historic, Cultural And Artistic Treasure

The story of San Miguel de Allende is really a tale with two parts. The original colonial settlement was established in 1551 moved to its current location four years later as a result of continued conflict with the indigenous tribes in the area.

The discovery of silver in the region in the mid-sixteenth century increased the prominence of San Miguel, given its strategic location between the silver mines and Mexico City. The city would continue to thrive through the mid-1700s and actually had a population larger than either Boston or New York.

The War of Mexican Independence impacted San Miguel’s prominence. The end of mining, the shrinking of the population, reduced the city to near “ghost town” status with Baroque and Neoclassical architectural structures empty as a memory of a bygone era.

Part II-Rebirth And Resurgence

In 1926, the Mexican government declared San Miguel de Allende a ‘historic and protected town” dedicated to preserving its colonial essence. The town would remain frozen in time until the Mexican opera star, José Mojica, rediscovered it and encouraged his friends in the arts to join him in establishing an artists’ commune; ultimately this lead to the creation of renown Bellas Artes Institute.

Touted by Life Magazine as a “GI paradise”, veterans from WWII looking for new opportunities, artists of all disciplines seeking to study, and those looking for new horizons all flocked to this mountain mecca. This early group of foreign arrivals has grown from a trickle to the well-established expat community of today.

San Miguel de Allende

J Wang

San Miguel de Allende Remains A Solid Investment Option

Although the international financial crisis of 2008-2010 took a toll on San Miguel de Allende’s real estate market, the result was dramatic increase in lower priced properties. Whether you are looking for a colonial structure that you can restore, new construction, or something in between, there is a wide selection of properties that can meet your needs.

There are no restrictions to foreigners owning property in Mexico except in what is known as the restricted zone designated as being 100km from a border and 50km from the coast.  Since foreigners cannot hold title in their own names in those areas, a real estate trust has to be set up to hold the title.

An attractive feature for US residents considering moving the area is that you can get title insurance from some American title insurance carriers-some of which have been writing policies for Mexican properties since the mid nineties.  This is especially important since, under Mexican law, there is no requirement for sellers to disclose potential problems.

San Miguel de Allende

J Brewer

The Expat Explosion In San Miguel de Allende

The increase in the expat population in San Miguel de Allende was largely fueled by veterans from WWII looking to move their young families south to escape the scourge of the polio epidemic that was ravaging the US. Combined with the many artists and other creative types who had discovered the cultural environment that had grown up in this mountain city, the current expat population is estimated to be roughly 10,000-12,000; this number does not include those who have settled in the surrounding villages or developments.

Of that number of expats, roughly 70% are American which is why San Miguel de Allende is viewed by many people as an “American town. However, that is still a small percentage of the roughly 80,000 residents who are estimated to live within the community itself.

Too Much Of A Good Thing?

Having that many American expats has become a kind of mixed blessing for San Miguel de Allende. While the presence of a large English speaking population makes it an easy transition for those not fluent in Spanish, there is a sense of entitlement (and even arrogance) that many Mexicans (and expats as well), find distasteful.

The growing number of high-end gated communities also furthers this impression that these transplants from the North have no interest in becoming part of the unique cultural and historical essence of the area. This situation may be off-putting for those who want to immerse themselves in the local culture rather than just living in an Americanized enclave in another country.

Not surprisingly, prices in this well-developed area are higher than in more rustic locations. In a real sense, though, living here is a true example of the old saying:  “you get what you pay for”.

San Miguel de Allende

San Miguel de Allende

The Benefits Of An Established Expat Presence

While there are some facets of the growing number of seniors, retirees and expats who continue to make their way to San Miguel de Allende that can be challenging, it is precisely the development and foreign investment that has enhanced the standard of living and value of property in the region. Having a well developed infrastructure, numerous social and entertainment options, and a growing number of stores with American products are all elements that make buying property here a good choice for a return on investment dollars in the future.

The close proximity to the US also is a compelling reason to consider San Miguel de Allende as a retirement destination. Being able to visit family and friends north of the border, while still enjoying the less frantic pace of this artistic colonial town, offers another attractive reason to make this a second or retirement home.

In addition to the well-developed infrastructure, San Miguel de Allende has become an international arts center filled with shops, boutiques, galleries and craft vendors. In addition, there is a thriving nightlife and gourmet restaurants that cater to the large number of tourists as well as the local population.

Local festivals, such as Fiestas de San Miguel de Allende (the feast of the patron saint, Michael) held during the last week in September provide a cultural ambiance that enhance the expat experience. There are also a number of events celebrating the arts throughout the year.

To Expat Or Not-That Is The Question

San Miguel de Allende is a unique option for those considering a move from the US to a tropical destination. It has one of the most established expat communities anywhere-a scenario that has both positive and negative features. Ultimately, the best way to decide if San Miguel is for you is to visit it for yourself and experience what all it has to offer first hand.

 

As one of the fastest growing expat destinations, Panama City offers a variety of options for a tropical home.  With an ever-expanding infrastructure, favorable residency laws and great discounts for retirees, the resurgence of Panama will continue to make living there an attractive choice.

Aside from the city itself, there are various locations in and around Panama City that can satisfy most every taste. From modern high end developments to more rustic settings, discovering which lifestyle is best suited to your individual desires is the best way to begin the transition to paradise.

panama city where to live

Bernal Saborio

 

The Panama City, Panama Area Is A Blend of Styles

Panama City is much more than a dynamic Latin Tropic metropolis with a modern infrastructure. While the gorgeous skyline compares with such locations as South Beach, this capital city is actually comprised of three distinct districts-each with their own unique essence.

Whether you are looking for a high rise development in the new city, a restoration project in the old city, or the historical atmosphere of the old colonial area, there are many possibilities to choose from.

Panama Pacifico

Alberto Ruiz

Panama Pacifico

Perhaps no location exemplifies the potential for growth in Panama than Panama Pacifico. Located on the site of the former Howard Air Force Base, this project is, quite literally, building a new city from the ground up sprawling over 4,450 acres.

Conceived by Colombian businessman Jaime Gilinski shortly after the base closed in 1999, it would take until 2010 before construction could actually begin.  Since ground was first broken,  both residential and commercial projects have begun transforming this former military installation into a new and exciting community.

Being only 15 minutes from Panama City, Panama Pacifico is the ideal spot for expats looking for new construction and business opportunities. With only 15% of the property developed, investors can take advantage of abundant space to transform their dreams into a profitable reality.

 

Where to live in Panama City

Steve Ross

Costa del Este

Costa del Este represents one of the newest areas of Panama. Its location, just five minutes from the heart of Panama City and ten minutes from Tocumen International Airport, have made it one of the most desirable neighborhoods outside of the city itself.

Housing here can range from luxury high rise condominiums to spacious houses. The modern infrastructure has attracted expats and investors who want to live and work in the tropics while enjoying all the amenities of any major U.S. city.

Beyond The Panama City Limits-Three Compelling Options

One of the most significant changes for expats and investors considering the Panama City area was the completion of the Pan American Highway. This highway system has made access to a number of popular destinations a manageable hour or so drive from the city center.

The list below highlights three of the most popular areas outside of Panama City. These locations have attracted the interest of retirees, expats looking for a second home, and investors seeking a higher ROI (return on investment).

where to live in panama city

Roberto Moreno

Coronado

Coronado is widely considered to be the first planned resort community in Panama.  The dream of visionary developer, Bob Eisenmann, Coronado combines the rustic feel of several small villages with the modern amenities and infrastructure of a resort condominium community.

One of the most attractive features of Coronado, Panama is its climate.  Located in the “dry arch”, or arco secco region, less rainfall occurs here than in the rest of the country. The large number of English-speaking expats who live in the area is another attractive feature for those who may have trepidations about living in a country where English is not the primary language.

farallon panama

Alexandra Oduber

Farallon

Much like Panama Pacifico, Farallon has risen from the remains of a military base a mere 68 miles from the capital. Once housing Panamanian troops, the facility was destroyed by the U.S. invasion in 1989. Since that time, Farallon and the nearby beaches of Playa Blanca have become one of the most sought after beach destinations in the Latin tropics.

Luxury resort properties, such as Buenaventura, are certain to appeal to those seeking modern amenities and an upscale lifestyle, without the frenetic pace of Panama City.  The new international airport at Rio Hato, a short distance away, makes accessing this white sand oasis easier than ever.

el valle panama

Michael Afar

El Valle de Anton

El Valle de Anton is a delightful seven square mile mountain village located roughly 120 km (75 miles) from Panama City. This rustic location is becoming a popular choice for expats seeking to find a less frenzied pace of life that is infused with the cultural essence of “old Panama.”

Located in the caldera of the El Valle volcano, El Valle de Anton is actually the second largest inhabited volcano in the world.  It has also become a favorite location for Panama City’s more affluent citizens seeking a weekend retreat far from the hurried pace of the city.

Whether looking for a rustic Panamanian village dwelling or a modern construction home, El Valle de Anton will continue to offer both a unique environment and a great potential for investment.

Panama City Has Both Potential And Promise

With such a wide variety of possibilities for a home in the Latin Tropics, as well as great investment potential, exploring the real estate market for yourself is a great place to start. Finding that “place in the sun” may be as easy as a click of a mouse.

El Poblado (“The Village” in Spanish) has become the cornerstone of expat growth both in Medellin and throughout Colombia. Just as it was in the early seventeenth century, El Poblado has become the hub for economic, commercial and business growth in present day Medellin and in the surrounding region.

Known locally as Las Manzanas de Oro (the Golden Apples), this cosmopolitan center is filled with modern amenities that many expats find compelling. As the region continues its resurgence from the conflicts of the latter 20th century, the investment potential is also a powerful draw.

Jorge J Restrepo A.

Jorge J Restrepo A.

El Poblado: Cornerstone Of Medellin

El Poblado represents the dynamic resurgence of Medellin. The modern structures, bustling commercial areas, and high-rise residences stand in stark contrast to the image of the region in the late 1980s and 1990s.

In 1541, as part of the Spanish exploration of what would later become Colombia, Conquistadors arrived in what is now Aburrá Valley. In 1574, Gaspar de Rodas, the first governor of Antioquia was granted 3 square miles to develop a foothold in the valley.

Later, in 1616, another Spaniard, Francisco de Herrera y Campuzano, founded a settlement that he named Poblado de San Lorenzo, the site of today’s El Poblado Square. While the original population included indigenous people, Caucasians and Mestizos, an edict by the colonial governor decreed that whites and natives could not live together.

As a result, the colonial government moved to a new location in what is today Berrio Square, leaving El Poblado as a suburb of the village. Since the area was not considered as having any strategic importance, El Poblado was largely marginalized until the mid-nineteenth century.

Evolving Into A Symbol Of Prosperity And Potential

The colonial authorities gave the parish the name of San José del Poblado in 1845. Like most colonial villages, El Poblado had a square with a plaza, actual streets and, most importantly, land for sale.

Throughout the later part of the nineteenth century, the more affluent families in Medellin looked to El Poblado as the place to build their villas and estates. This trend continued through the early part of the twentieth century as other farming families, drawn to the industrial growth in El Poblado, moved to the region adding to the economic energies already emerging there.

In the 1950s, El Poblado was formally included as a barrio of Medellin. By the 1970s, wealthy Medellin residents flocked to the barrio which had become the second largest urban center.  It was during this period that El Poblado was given the nickname Milla de Oro (Golden Mile) and the Zona Rosa, an expat and tourist-centric area was created.

Today, El Poblado has become the preferred location in Medellin for upper income Colombians as well as a growing expat population. The twenty-two neighborhoods that make up El Poblado are filled with new construction, commercial and residential locations that hold tremendous potential for a return on investment.

Daniel DeLa Cruz

Daniel DeLa Cruz

El Poblado Today – Leading A Dynamic Resurgence

El Poblado has the modern features that compare favorably to many first world metropolitan areas. One of the premier amenities of the barrio is the plethora of high-end shopping malls that are a centerpiece for the area.

The development of a modern Metro transit system has been a major factor in El Poblado’s growth. With accessibility to the rest of Medellin dramatically improved through the latter part of the twentieth century, El Poblado’s desirability for commercial enterprises has also expanded.

Below are examples of several of the most popular locations in El Poblado.

Sante Fe Mall

This shopping and entertainment complex is the largest in Colombia and one of premier shopping meccas in Central and South America. Opened in 2010, this ultra-modern complex has over 450 stores, 25 restaurants, a VIP movie theater and 2 million square feet of total space.

In addition to the architecturally pleasing design, Santa Fe also features a retractable roof that can be opened for good weather days. With popular anchor stores like Carrefour (now known as Jumbo) and Falabella and a growing number of international chains (such as Victoria’s Secret), Santa Fe is truly a special shopping and entertainment experience.

El Tesoro Parque Comercial

Opened in 1996, El Tesoro has combined shopping with commercial development.  The original 174 stores have grown to a total of over 350 units with names such as Adidas, Gap, Nine West, Tommy Hilfiger and other high end brands.

In addition to the entertainment venues, El Tesoro has also been a location for business growth. In 2013, the Medical Tower Treasure opened with full professional offices, seven operating rooms and specialized medical professional services that rival any comparable site in the tropics.

Parque Lleras

Nestled in the heart of the entertainment center of El Poblado–the Zona Rosa–Parque Lleras is filled with bars, clubs, gourmet restaurants and revelers looking to have a great night on the town. As a playground for the “beautiful people” this Colombian version of South Beach is definitely a spot to party the night away.

As might be expected in such a venue, prices can be higher than other areas of Medellin. However the atmosphere and ambiance make the extra cost well worth the experience.

El Poblado Hotels And Accommodations

For those wanting to stay close to the action, El Poblado has the majority of high end hotels in Medellin. Spa Hotels, such as the modern NH Medellin Collection Royal and the Hotel Park 10, place visitors steps away from the entertainment and shopping areas that are the heart and soul of El Poblado.

Another alternative, for those seeking more of a “home” type experience would be renting one of the many apartments in the area on a nightly basis. For as little as $55.00 (USD) you can have your own Medellin “casa” to enjoy during your stay.

Virginia

Virginia

Cost Of Living In El Poblado, Colombia

It may come as a pleasant surprise to potential expats and investors that El Poblado is comparatively still an attractive option. While it is the most expensive area in Medellin, El Poblado compares favorably with other highly developed metropolitan centers in the Latin tropics.

As can be seen in the list below, the Medellin area, including El Poblado, compares favorably with locations in Costa Rica, Ecuador and Panama in terms of cost of living. When added to favorable currency exchange rates, El Poblado’s “price tag” can offer luxury living more affordably than usually found in upscale tropical areas.

Consumer Prices Including Rent in San Jose are 109.70% higher than in Medellin Consumer Prices Including Rent in Quito are 58.09% higher than in Medellin Consumer Prices Including Rent in Boquete are 58.79% higher than in Medellin

More Value For Your Dollar

That favorable exchange rate, mentioned above, makes living in El Poblado a much more affordable option. Currently, a US Dollar is worth $3,038 Colombian Pesos.

If there is a negative to this increase in buying power, it is that the dollar is not widely accepted even in El Poblado’s trendiest spots. Having credit cards or converting your dollars to pesos will make transactions easier to negotiate.

Daniel DeLa Cruz

Daniel DeLa Cruz

Real Estate In El Poblado

One question that comes to the forefront of the minds of investors and expats alike is the cost of real estate in this trendy, upscale neighborhood. Though considered high end by Colombian standards, the prices for both commercial real estate and residential homes is surprisingly affordable, especially when one considers the quality and amenities found in the residences.

There are many affordable rental units in the various barrios of El Poblado. Finding a rental with modern features that’s fully furnished and close to El Poblado’s popular locations is easier than you might imagine and a great way to transition to your new life in Colombia.

Purchasing real estate in El Poblado is as streamlined as other parts of Colombia. There is no requirement for residency or citizenship in order to buy or rent property.

A very attractive feature of property ownership in Colombia is the low tax rate.  The unified tax rate on the combined value of land and buildings (as assessed by the municipality) can be as low as 0.3%. The top of the range is still a very reasonable 3.3%.

There are many available condos and apartments throughout El Poblado that can range from under $90,000 to over $500,000.  When factoring in the lower costs of living in the Medellin area, owning a home in this flourishing part of the city becomes a desirable option.

Virignia

Virignia

Is El Poblado The Right Choice For You?

This highly developed, growing, Colombian neighborhood has many things to commend it as a great location for expats and investors looking for new vistas in the Latin Tropics. As with other tropical destinations, weighing the pluses and minuses can come down to a matter of what you are (or are not) looking for.

El Poblado May Not Be For Everyone

There is no doubt that El Poblado has many attractive, high-end amenities that expats and investors find attractive. The modern high-rise residences, top-end shopping malls, and quality entertainment venues are among the best in the Latin tropics.

However, for those seeking a more rustic, less frenzied atmosphere, El Poblado may be too much of a good thing. If you are seeking to find a more traditional Colombian lifestyle, this thriving metropolitan community would not be the ideal match.

For some, Medellin’s recent history may be too much of an emotional stumbling block to overcome. Even with El Poblado’s amenities and developed infrastructure, the shadows of the Escobar years may outweigh the possibilities of the twenty-first century.

Beyond The Horizon

El Poblado is a shining example of Medellin’s resurgence as a cultural and economic powerhouse. The blend of first world amenities, a strong commercial base, and a growing expat presence all deserve a closer look by those seeking to explore retirement and investment opportunities in the Latin tropics.

With the Medellin region easily accessible from the US, visiting the Golden Mile is a convenient proposition. Taking that important first step is a great way to learn, first hand, if El Poblado holds the future that you are dreaming of.

 

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