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One of the biggest considerations for expats seeking to buy their retirement or getaway home in Latin America is the taxes on real estate. Comparing property taxes of the most popular destinations for expats is an important step to deciding the best location for your tropical retreat.

Once the decision is made to become an expat, finding a home in paradise will involve some research. Looking at the unique qualities of each country and the properties available is a great way to begin your journey.

Property Taxes

Tropical House in Paradise

Comparing Property Taxes in Latin America Country by Country

Countries in Latin America have widely different approaches as to what real property should be taxed and when. Similarly, the calculations of property taxes can be confusing for expats trying to choose which location might be a good fit for their budget.

What follows is a brief overview, by country, of the tax structure for real property. This comparison will also include any taxes imposed at the time of sale or transfer of title as well as when payment of these assessments are due.

Property Taxes

Anoldent

Belize

Belize has a fairly straightforward approach to property taxes. For residential property, the tax rate will be between 1% and 1.5% of the value as set by the Department of Natural Resources. These are payable each year by April 1st at any Lands Department office. When looking for your Belizean retreat, making this calculation is easy.

Residents in Belize City can take advantage of a 10% discount if taxes are paid by March 31st There is a 25% discount on property taxes for Senior Citizens (over 65) that certainly is a great incentive for expat retirees.

Investors and developers of large plots of undeveloped land (parcels over 300 acres) are subject to a Speculation Tax. This tax is computed based on 5% of the undeveloped value of the property.

When a title is transferred, a transfer tax is collected as part of the buying process. There is no tax for values under $10,000; for values in excess of that amount, the tax is a flat 5%.

Property Taxes

Didier Baertschiger

Costa Rica

For all of the attention and growth that Costa Rica has experienced in the last decade, property taxes still remain as some of the lowest anywhere, including the U.S. The tax rate is 0.25% of the registered property valued as determined by the local governments or municipalities.

Some of the very large and high-end properties have been subject to a luxury tax based on such items as size, custom furnishings, and fixtures. These rates are still surprisingly low; in 2013 it was estimated that that this tax was in the range of 0.1% to .25% of property value.

Changes to the transfer tax of 1.5% may impact some buyers. While the percentage has stayed the same, the basis for the calculation (property value) cannot be less than the highest recorded fiscal value. Fortunately, this amount will usually be less than the market price of the parcel. With low tax rates, finding your home in the land of Pura Vida is still a great option.

Property Taxes

Casey

Ecuador

Ecuador has some of the lowest property taxes in Latin America. The tax rates are progressive from 0.025% to 0.5% of the value as assessed by municipal officials.

These values are considerably lower than the purchase price – often by as much as 25% to 75%. As a result, it is rare to pay over $400 in annual taxes.

There are also deductions and discounts that can appeal to expats. Homeowners over the age of 65 only have to pay half the amount of the tax assessed.

Additionally, deductions for mortgages to purchase or improve the property are possible. Ranging between 20% and 40%, these must be requested and cannot exceed 50% of the value of the property. Ecuadorian real estate may provide some of the most affordable options in the region.

Property Taxes

Waterways

El Salvador

El Salvador is unique in that there is no property tax assessed for owning real estate. Although there is no annual assessment, when property is transferred, a transfer tax is triggered.

The tax, paid as part of the buying and selling process, equals 3% of the value over $28,571.43 of the purchase price. Non-residents also are subject to a 25% capital gains tax when selling property unless the sale occurs within three years of taking possession of the property.

The El Salvadoran government is considering a tax reform package that would include a tax on property that does not have any productive function except for private leisure or recreation. This “luxury tax” would be assessed at the rate of 1% of the value over $350,000 even if the property has not been developed.

Whether or not this tax will be enacted is uncertain. Regardless, the great majority of expats will not be impacted because of the high dollar threshold of the assessment. Low prices enhance the attractiveness of the selection of properties available.

Property Taxes

Stefano Ravalli

Guatemala

Guatemala uses the cadastral value of real property to calculate the tax owed. The word “cadastral” refers to the extent, value of, or ownership of real property and is used widely throughout Central America.

Taxes are calculated in local currency (the Guatemalan quetzal) by local authorities.  When converted to U.S. dollars, it becomes apparent that these are quite reasonable for the great majority of expat residents. Below is a chart showing the tax rates:

PROPERTY TAX

TAX BASE, GTQ (US$) TAX RATE
Up to 2 million (US$255,428) 0%
2 million – 20 million (US$2,554,278) 0.20%
20 million – 70 million (US$8,939,975) 0.60%
Over 70 million (US$8,939,975) 0.90%
Source: Global Property Guide

As can be seen, there is no property tax owed on properties valued under $255,428. The taxes are due annually and are paid to local municipalities where the property is located. Searching for properties under this dollar amount may be easier than you might imagine.

Property Taxes

Chamo Estudio

Honduras

Honduras has one of the few property tax laws that permit 12 monthly payments instead of just a single annual amount. The tax rate itself is based on value assessed by the municipality and can be calculated at $3.50 per every $1,000 of assessed value.

For example, a property value at $100,000 would have a yearly tax of $350.00. Spread out over twelve monthly payments, each installment would be for $29.16. Buying property in Honduras with the ability to spread out yearly taxes is an attractive prospect.

As a result of new tax reforms that went into effect on January 1, 2014,  property transfers carried out by nonresidents are now subject to an increased 4% (previously 2%) withholding tax over the transfer value to be withheld by the acquiring party.

One important feature of the Honduras tax scheme is the incentive program for projects or plans that would increase tourism to Roatan. Under this program, property taxes may be given a 20 year exemption. This is a powerful incentive for investors looking for a location to develop and build.

Property Taxes

Chris Goldberg

Mexico

Mexico was the first Latin American country to attract expats. The older expat enclaves, such as Puerto Vallarta, have demonstrated the potential for living and investing in Central and South America. Mexico still has a great selection of properties and lots to interest expat buyers.

Property taxes in Mexico vary from state to state. Each state’s tax department sets the assessed value and the tax rate can range from 0.05% to 1.2%, depending on the property location.  Other variables such as whether the lot is improved, if there is poor access, and if it is only used seasonally also factor into the assessment.

The assessment itself is done at the time of sale or transfer and will remain the same until the property is sold again. The taxes are due at the beginning of the year although the tax amounts are not available until mid-January of the year they are due. Since tax bills are not sent out, it is up to the property owner to go to the tax office with a previous bill to obtain the current one.

Payments can be made in six installments during the first ten days of every second month; ( i.e. January, March, May, July, September, and November). Failure to pay the taxes when due can result in steep penalties; in some cases as high as 3% for every month the payment is past due.

Mexico also charges an acquisition tax on every transfer of real property regardless of whether it is through a sale, donation, trust, or other method. The rates can range from 2% to 3.3%, again varying by state and is owed as part of the transfer process.

Property Taxes

Daniel Fajardo Valenti

Nicaragua

Nicaragua has, perhaps, the easiest property tax scheme in Latin America.  The tax is a flat 1% and are calculated at 80% of the cadastral value of the property (land, buildings, and permanent improvements) as assessed by the local office.

In the city of Managua, the calculation is slightly different. There the figure is based on 80% of the cadastral value LESS 40,000 Nicaraguan Cordobas (NIO); roughly equaling $1,624 in U.S. dollars.

Since there is no up-to-date national registry for property values, property taxes are less important than in other locations. With a lack of proper records, many small communities do not even collect the taxes which has led some to view paying them as a voluntary, rather than mandatory, act. Many of these smaller towns and villages have attractive and unique properties that are worth a look.

There is a 30% capital gains tax assessed on property sales. Again, this is based on the land value and not the sale price.

Property Taxes

Bocas Del Toro

Panama

Panama is unique among the countries in the region in that the property taxes are national and are collected by the Ministry of Economics and Finance. The tax rate is a maximum 2.1% and is based on the assessed value – usually the declared value in the original sale documents. Expats are increasingly interested in the homes and lots available here and the possibilities that Panama offers new arrivals.

The calculation is based on the value of the land plus the declared value of any improvements made. If a transaction is made for an amount in excess of this amount, that will automatically increase the value of the property for tax purposes. Payments can be made in three installments: April 30th, August 31st, and December 31st.

Property taxes are graduated depending on the assessed value. Below is a chart showing this breakdown: Value of the property                                     Property Tax Rate US$ 0.00 up to US$ 30K (exempted)                    0% US$ 30K up to US$ 50K                                        1.75% US$ 50K up to US$ 75K                                        1.95% US$ 75K and above                                               2.10%

Condominiums, however, use a slightly different formula:

Property Tax Rate for Condos:

Value of the property                                 Property Tax Rate US$ 0.00 up to US$ 30K (exempted)             0% US$ 30K up to US$ 100K                             0.75% US$ 100K and above                                    1.0%

The 20 year exemption on property taxes that was so attractive to investors ended in 2009. That program has been replaced by a revised set of exemptions:

  • 15 years Up to US$ 100,000.00
  • 10 years From US$ 100,000.00 to US$ 250,000.00
  • 5 years Above US$ 250,000.00
  • Commercial Use/Non-residential improvements have 10 year exoneration regardless of the property value

Lastly, Panama does have a transfer that is the greater of a) 2% of the total sale price or; b) the declared value of the parcel plus the value of improvements plus 5% for each year the property was owned.

A Brief Note on U.S. Property Taxes – Paradise Is Cheaper!!

While the various property tax schemes throughout these tropical locations may seem confusing, there is one important element to keep in mind:  U.S. property taxes are higher!!!

22 of the 50 states have median property taxes in excess of 1%. New Jersey is the highest at 1.89%. When combined with other property-related taxes and fees, the overall cost of property ownership far outstrips most of the Central and South American locations expats desire. In a very real sense, paradise is cheaper and living there is easier now than ever before.

Do you ever feel like your dream of living on a tropical coast is just another one that’s far beyond your reach?  Maybe you long for a permanent vacation from the never-ending hamster wheel, but you’re afraid you just can’t afford to make those dreams a reality.

If that’s the case, then you can’t afford not to look at Ecuador’s seven best budget beaches.

ecuador cheap land

Wurglitsch

You can scale down (or up) for less.

Despite its reputation as a budget destination, Ecuador also has plenty of popular upscale beaches. Atacames and Salinas are two. If you’re looking for Miami on a budget, then look at real estate here. You’ll be surprised how much you get for your money.

You can salsa your night away with well-heeled partiers at the yacht club. Or dine in a luxurious high-rise with five-star accommodations. You’ll love the crowded umbrella-lined beaches, glamorous vibe, and South American prices.

But if you’re looking to scale down, then one of Ecuador’s seven best budget beaches can easily accommodate your lifestyle. Ecuador has one of the lowest costs of living in Latin America, and its real estate market offers many of the same bargains you’ll find across the board in this destination that’s long been a favorite among North American expats.

Another great selling point is that much of Ecuador is experiencing rapid growth in its expat communities.  So much so, that in many cases, the available services and consumer offerings can’t keep up.

So if the lower price tag still isn’t enough to help you realize your goal of starting a new life in Ecuador, there’s always the opportunity to parlay the opportunity to move abroad into twice the adventure by starting an expat business.

Here are 7 of the best budget beaches in Ecuador where you can enjoy paradise without breaking the bank.

You can live in Ecuador on a budget. It’s not just a dream.

 

 

Best Budget Beaches - Olon Beach Ecuador

wogo24220

1. Olon has many treasures for you. Settle in for an up-tempo, yet tranquil lifestyle. Tropical jungle flows to the sea. Hike trails and swim in waterfalls. Watch hummingbirds, iguanas, and even wild horses.

Surf conditions are excellent. Olon’s wide, long and sandy beaches host a myriad of restaurants and kiosks. One drawback (or potential opportunity, depending on how you look at it) is that convenience shopping doesn’t exist here. Residents of Olon travel far for shopping, groceries, and services.

This gap in consumer offerings equates to the perfect place for entrepreneuring expats to open an apparel shop or maybe a convenience store for food items and sundries.

Best Budget Beaches - Canoa Beach Ecuador

Meredith Cook

2. Canoa has a quaint, laid-back character. It’s small, but solitude is never hard to find. The long, wide beach stretches for miles.

Canoa is becoming more and more popular with foreign travelers, but it’s still mostly a small fishing village.  As a result, accommodations are still limited here. So now could be the perfect time to open a guest house or lodge.

Best Budget Beaches - Ayampe Beach Ecuador

LFRONTIERS

3. Ayampe is the place to go for complete serenity and tranquility. It’s essentially a wildlife sanctuary – a divine spot for yoga and meditation. From your rainforest or seaside perch, you’ll love the picturesque Los Ahorcados Islands views.

Picture a large, inviting family home made of cane and wood in a jungle setting. Or a rustic cabin with a straw roof. Ayampe is the ideal spot for building your holistic retreat. Your health-conscious customers won’t be able to resist organic fruit jams, natural soaps, and fruit-infused herbal teas.

Best Budget Beaches - Montanita Beach Ecuador

Yassef Briceño García

4. Montanita (Guayas Province) means action-packed days and nights. Get ready to live it up in this multicultural party town. Picture “Little Amsterdam.”

When you’ve relaxed and people watched enough, go surf.  With some of the region’s best conditions, Montanita even plays host to international surfing competitions.

If residents and visitors want to sleep soundly, they’ll most likely have to get out of town. As a result, the even more affordable areas around Montanita might be a great place for an adventure-based resort away from the noisy beach crowd.

Best Budget Beaches - Mompiche Beach Ecuador

Juan Martinez

5. Mompiche (Esmeraldas Province) Beach thrives on ecotourism. Backpackers and surfers trek to this black sand beach for one of the best surf breaks in Ecuador. But that’s not the only attraction.

Mompiche’s proximity to Mache Chindul National Reserve opens a whole new world of adventures. Whale watching is a favorite pastime. Canoe or kayak the mangroves and Rio Verde River for bird and monkey watching. Head to the jungle for a hike or horseback ride.

Like most other budget destinations, Mompiche still lacks an abundance of variety in its accommodations and services, including restaurants. As a result it’s a great up-and-coming spot where expats could get a steal on their dream property or savvy investors could find the perfect niche for launching a successful business.

Best Budget Beaches - Salango Beach Ecuador

Daria

6. Salango (Manabi Province) is for history, culture, art enthusiasts and conservationists. You can stay busy attending artisan workshops or spending time at the Pre-Columbian Archaeological Museum. If that’s not enough to keep you busy, Machalilla National Park outings will.

There’s always scuba diving, whale watching and endless snorkeling. You’ll adore the shallow natural aquarium and sea excursions. But your experience won’t be complete until you hit the trails on foot, horseback, or bicycle.

An outdoor outfitter store could be your calling. Everyone in Salango is hooked on nature. Stock quality hiking and biking gear, camping accessories, cameras, and binoculars.  

Best Budget Beaches - Sua Beach Ecuador

Mundo Croqueta

7. Sua (Esmeraldas Province) Sua is a super tranquil setting surrounded by hills and cliffs. If you like calm water sports and little wind, Sua is the location for you.

You’ll have fun sunbathing, swimming, rowing, stand up paddle boarding, and walks around the beachfront promenade. Aside from that, there’s not much else to do.

You can always take a quick boat ride to Bird Island or the Cave of Love. Or jaunt on over to party down in nearby Atacames.

Restaurants are limited in Sua. So are activities. As a result, properties are incredibly affordable.  It’s a great place for expats seeking a simple, relaxed lifestyle.

You Can Live Your Dream in Ecuador

Now you know Ecuador offers many beach communities where you can afford to simplify your life. But you can’t just dream about it. You have to dive in. Pick a spot (or two) that sparked your interest. Explore the real estate opportunities there. Your dream home (and your escape route) will suddenly become clearer. And if you still need to earn a living, there are plenty of niches ready to be filled.

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The Zapatista uprising happened over 20 years ago, on January 1, 1994. On that day, indigenous peoples poured onto the streets of cities like San Cristobal De Las Casas. They were armed, they were poor, they spoke for all the oppressed people. Their strong leadership and planning led to one of the most storied and respected revolutions of post-modern times.

How did this revolution that took place in the southern state of Mexico, called Chiapas unfold? And what has changed since then?

Hilary Klein, author of Compañeras: Zapatista Women’s Stories, talks about the Zapatista movement and how it inspired grass-roots support from all over the world, galvanized behind a message that we can all champion.

Listen to the show

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The Show Notes

You can buy Hilary’s book here

 

 

 

 

 

 

 

 

 

 

 

For even more information about the Zapatista story, check out these links: Vice.com Democracynow.org

Living in Panama today can provide a wide variety of options for those seeking opportunities outside the U.S. and Europe to live, retire, and invest. Ranging from big city living to secluded mountain villages, Panama offers a selection of lifestyles that is second to none in Central America.

Living in Panama

Panama City at Night

Panama’s Past Is the Cornerstone of Its Future

Panama’s history is one of change and growth. From its earliest colonial beginnings, to the construction of the Panama Canal, the turmoil of the late 20th century to the revitalization of today, Panama continues to thrive and offer fresh opportunities to live and immerse oneself in the diverse culture of Central America.

One of the major attractions in Panama is the lower cost of living throughout the country. With reasonable rents, lower food and medical costs, and a continuing growing standard of living, it is small wonder that Panama is viewed by many as picking up where other Central American countries have left off.

Living in Panama today provides a cultural and economic opportunity to share in a rich historical tradition while exploring and becoming part of a vibrant and exciting future. In a real sense, Panama’s past has become the cornerstone of the future potential as the country continues its course to becoming a premier expat destination in the 21st century.

Living in Panama – A Wide Choice of Locations and Climates

Panama is fortunate in that it offers variety in both climates and locations.  Though located in tropical Central America, Panama has several “micro-climates” that reflect the many regions in the country.

For those seeking the energy and excitement of a modern city, Panama City is the place to be. The skyline along the beaches of the Pacific Ocean is more reminiscent of South Beach than an emerging nation.

The cool climates of the mountains in such locations as Boquete, Sante Fe and El Valle offer a nice contrast to the hotter, more humid beachfront locations. The La Armistad Biosphere Reserve, at Volcan, demonstrates both the geographic and meteorological diversity that can be found in Panama.

A more rustic lifestyle awaits expats looking to the interior communities of David and Chitre. Being able to become part of daily village life may be an ideal alternative for those wanting to avoid the more frenetic pace of larger cities.

Island Life – A Uniquely Panamanian Alternative

Having more islands than any other Central American country, Panama can boast of some of the best beach living in the region. The Las Perlas Islands group on the Pacific side and the San Blas Islands on the Caribbean coast contain the best beaches in Panama and are more affordable than many oceanside locations elsewhere.

Panama Is a Land of Potential on Many Levels

The aggressive efforts of the Panamanian government in recent years to attract foreign investment and to make Panama a desirable location for expats and retirees is beginning to reap dividends. Changes in residency laws, enhanced benefits for retirees, and a pro-business and investment approach is making Panama a model for Central American vibrancy in the 21st century.

New Residency Laws Make Living in Panama an Easy Choice

In May 2012, Panama enacted the Specific Countries Program. Under this program, holders of passports from the United States, Canada and many European countries can become Panamanian residents in as little as six to eight months.

As Panama’s economy continues to grow, the need for skilled workers has led to revisions in the laws impacting those who may want to work in their new expat location.

The Highly Skilled Worker Permit is one of these new revisions. Under this program, which is exempt from quotas and sponsorship requirements, all that is needed is a Bachelor’s Degree (or higher) and a letter from the perspective employer.

Living in Panama – Retirees Are More Than Welcome

Panama is making a major effort to attract retirees with the Pensionado (retirement) Visa program. Any person over the age of 18, with a guaranteed monthly income of $1000 from a government agency, such as Social Security or the U.S. Armed Forces, can qualify for this type of residency.

Holders of retirement visas receive many discounts and benefits in the form of reduced prices for a wide variety of services and items. Some of the most attractive of these discounts are:

Discount
Entertainment (movies, sports, etc.) 50%
Airline Tickets 25%
Closing Costs for Home Loans 50%
Professional/Technical Services 20%
Dental/Eye Exams 15%

With the Retirement Visa, an individual is entitled to a one-time tax exemption on imported household goods (up to a $10,000 limit). Another important benefit is a tax exemption every two years for the purchase or importation of a new vehicle.

Living in Panama – Growing Pains

For all the positives and potential that Panama offers, it is important to remember that this is an emerging nation in the throes of development. As a result, some of the challenges that expats may encounter may not be a good fit for everyone.

Infrastructure Is Not the Same Everywhere

The modern and urban environment of Panama City does not carry over to other parts of the country. Less developed regions in the mountains and further inland are far more rustic in nature. If having access to modern amenities is a requirement, this could limit the choices for relocation.

Changing Legal Environment

Not everyone has welcomed the efforts of the government to attract foreign businesses and workers to Panama. As a result, changing laws and regulations could impact residency and tax matters. This potential for change can be a negative for some who would like a more stable, less dynamic environment in which to invest.

Improvement and Construction Versus Quiet and Established

The constant improvement of Panamanian infrastructure and amount of new construction is certainly a positive for the country. With this growth, however, comes the disruption of the tranquil nature of many communities in the country. Navigating through construction zones and dealing with the issues that this kind of development brings may be a negative to those seeking a more rustic environment.

Discover the “Panama Potential”

The emergence of a growing real estate market makes doing research on what is on the market more important than ever. Whether the desired location is big city or rustic village, looking at what is available can provide a perspective on the true potential that can be found in the various locations of Panama.

Opportunity for growth, adventure, and a unique tropical lifestyle await expats and investors in Portoviejo, Ecuador. This growing city, the sixth largest in the country, blends contemporary living, a rich history, and plenty of opportunities to enjoy outdoor exploration and activities.

Portoviejo, Ecuador

Portoviejo, Ecuador

As one of the fastest emerging retirement destinations, Ecuador’s Pacific region has become a focal point for expats and investors. Portoviejo’s location and role as the capital of Manabi Province has become a hub for those seeking to find a tropical respite with investment possibilities.

Portoviejo – Then and Now

Founded March 12, 1535 by the Spanish captain Francisco Pacheco as “Villa Nueva de San Gregorio de Portoviejo,” on the Pacific coastline, Portoviejo is one of the oldest cities in Ecuador. It was actually moved inland some thirty kilometers to its current location in 1528 as a result of repeated conflicts with the indigenous tribes in the area.

Portoviejo, Ecuador is also known as the “City of the Royal Tamarind Trees.”  These beautiful trees are found in abundance in and around the city and are a source of pride to locals.

As the principal commercial and governmental center of the Portoviejo River Valley, Portoviejo has become the hub for agricultural processing in the region. In addition to tropical fruits and vegetables, coffee production, fishing ,and cattle ranching are also prominent in the area.

In spite of economic setbacks in the 1980s and 1990s, Portoviejo has rebounded and looks to continue its recovery as expats and investors discover the opportunities that are waiting there. In a very real sense, the motto of Portoviejo captures this “can do” attitude:  Portoviejo se Levanta Querer es Poder (English: Portoviejo rises, to want is power).

Fun and Games in and around Portoviejo

The Manabi province has many activities that can entertain and educate expats and visitors alike. With beach towns like Crucita, Jaramijo, and Manta in close proximity, Portoviejo is an ideal jumping-off point to explore and experience the Pacific coast of Ecuador.

Manta and the Nearby Beaches

Manta is the second largest coastal city in Ecuador and has a vibrant ocean-driven culture. It is thought that Manta is home to the largest fishing fleet in South America and proudly proclaims itself as “Tuna Capital of the World.”

Being only 23 miles from Portoviejo, Manta’s beaches are readily accessible from the city by both car and bus. There are two beaches to the north and west (Barbasquillo and El Murcielago) and three to the east (La Poza, Los Esteros and Tarqui).

There are several other beach locations in the area. One of the most popular is Playa San Marianita; this is not only one of the most “family friendly” beaches but also recognized as the most popular location for kitesurfing in Ecuador.

Eco-Friendly Experiences

Roughly an hour’s drive from Portoviejo is Machalilla National Park. This preserve features beaches, two islands, a fog forest, and a dry forest. With so many ecosystems to experience, the park has become one of the Pacific region’s major attractions.

A different kind of eco-experience can be found just outside of Portoviejo in the nearby village of Sosote. Here artisans make handcrafted items from Tagua nuts. Tagua is a palm nut similar to ivory and used for a variety of carved items. Known as “palm ivory,” this fruit of the palm tree is viewed as a viable and more ecological alternative to using elephant tusks or other sources of ivory.

Getting to Portoviejo

Since Portoviejo does not have an international airport, most visitors begin their journey by flying into Quito. From there, TAME, the domestic airline of Ecuador, flies a single scheduled flight daily to the small regional airport (Reales Tamarindo Airport) just outside of the city.

There are regularly scheduled buses that run from Quito and Guayaquil as well as private shuttles and rental cars.  The driving time can be somewhat lengthy but is an adventure in and of itself.

Portoviejo Ecuador

Leyton Loor

Budgeting for Expat Living in Portoviejo, Ecuador

As the sixth largest city in Ecuador and a governmental seat (capital city of Manabi province), prices in central Portoviejo for housing and amenities are somewhat higher than the less-developed regions in and between the city and beach areas. The trade-off is that the amenities and services in central Portoviejo are more established and closer in standards to similar-sized communities in the U.S.

Like most areas, the location and size of a residence are major factors in the cost, whether purchased or rented. Availability is another factor in determining how much a particularly property sells or rents for.

The Real Estate Market Has Rebounded

Following the financial crisis in 2008, Portoviejo, like many other communities in Central and South America, has experienced a resurgence in the real estate market. Prices are still lower than in Quito or Guayaquil and also include commercial units as well as residential units.

Potential buyers and investors can find a selection of completed properties that range from rustic, traditional Ecuadorian style homes, to luxurious beachfront villas. There is also the possibility of finding lots ready for development and working farms for individuals seeking a different lifestyle with a strong potential for return on investment.

Rents can run the gamut for as little as $200 per month to over $1,000. Apartments in the center of Portoviejo with modern amenities are naturally at the higher end of the spectrum. Single family homes may run even higher depending on whether or not they are in a gated community.

Shopping, Utilities, and Medical Expenses

Utilities such as electricity, water, heat, and garbage can run in the $25 to $60 a month range depending on usage. The cost for internet and cable TV/satellite service, while varying by plan, can be estimated in the area of $30 to $70 per month.

Groceries and food are difficult to estimate as tastes vary from person to person. Buying local produce and meats is certainly a more budget-friendly option that the higher-priced imported items.

Durable goods, such as appliances and vehicles are, as might be expected, high-ticket items due to the import fees and taxes. By way of example, a vehicle costing $25,000 in the U.S. might run $30,000 or more in Ecuador.

One area that is certainly budget friendly is medical expenses. Portoviejo, like other major Ecuadorian cities, offers quality health care at significantly lower rates that its North American counterparts. Health insurance can also be purchased from Ecuadorian carriers at much more affordable rates than one might expect. The city is also home to the cancer treatment hospital “Dr Julio Villacreses Colmont.”

portoviejo ecuador

La Hora

Further Considerations about Expat Life

Portoviejo and the entire Manabi province certainly provide opportunities to create and personalize a tropical retirement. There are some realities to take under advisement before committing time and resources to a move.

First and foremost is the fact that, while the expat community is growing, the number of expats in and around Portoviejo is small. As a result, language and cultural difference could become barriers that detract from the lifestyle you were hoping to find.

Second, developing property (as opposed to buying/renting a completed structure) can be challenging in a variety of ways. If you aren’t comfortable with having to deal with the myriad of issues that building your own home can bring, this may not be the best choice for your future getaway.

Lastly, it is important to remember that many of the items and conveniences found in the U.S., Canada, and Europe are either unavailable or difficult to find in the region. Again, if having access to these things is important, you should ask yourself whether not having them would be a deal breaker.

Finding Out If Portoviejo Is a Good Fit

There is no substitute for going to the city, experiencing what life is like there, exploring the region and then seeing how the reality matches up with the dream. You may just discover that, like Portoviejo’s motto says: to want is power.

Map of Portoviejo, Ecuador

Portoviejo, Ecuador Fast Facts

  • Population: 207,000
  • Typical temperature: 72º F.
  • Major airports with U.S. flights: José Joaquín de Olmedo International Airport – Guayaquil, Ecuador .
  • Nearest U.S. consulate: Guayaquil

Pristine beaches, adrenaline-fueled activities, and a favorable economic environment are combining to make San Clemente, Ecuador one of the more promising growth locations for investors and expats. This sleepy fishing village of some 2,000 inhabitants could well become part of the next “Gold Coast” in Pacific Latin America.

San Clemente, Ecuador

San Clemente Beach

Ecuador has made dramatic strides to attract expats and investors. With continued improvements to infrastructure and better access to popular coastal areas, interest in the central Pacific beaches promises to increase tourist traffic as well as those seeking investment benefits or an expat paradise.

The Beaches of San Clemente

There are no fewer than seven distinct beaches between San Clemente and the neighboring bluff known as Punta Bikini.  Although each one is named separately, they are actually one continuous stretch of unblemished sand.

In addition to the extreme sports that thrive up and down the central Pacific coast, the sands around San Clemente are sun-kissed most of the year, broad, and not crowded; a perfect location for families and those seeking the tranquility of the ocean front.

San Clemente’s Cultural Connection

Visitors to San Clemente also have the opportunity to experience the Manteña-Guancavilca culture. This pre-Columbian civilization flourished in the region from roughly 600 A.D. until the Spanish arrived in 1532-34.

Noted for their skill in raft building and fishing, (much like their modern descendants) the Manteños worshipped the goddess Umiña whose symbol was a large emerald. Umiña was also worshipped in Peru by the Incas; this would appear to show a connection between the two groups.

There are several archeological sites in Manabi where artifacts of the Manteños have been discovered. The most important site is Agua Blanca–believed to be the capital of the Manteña culture.

Located in the Machalilla National Park, roughly an hour’s drive from San Clemente, Agua Blanca is the location of a number of artifacts from these ancient people.  Learning about the Manteños and how they lived gives a unique perspective on how San Clemente’s past is shaping its future.

Improving transportation options make getting there less stressful

While there are no international flights directly to the central Pacific, regular flights into Quito have dramatically improved access. With direct flights from Quito arriving at both Manta and Portoviejo, getting to San Clemente has become significantly more convenient. Car or bus travel from either city is a short ride lasting under an hour.

Lower costs make for better budgeting options

While rental properties are limited in San Clemente proper, nearby communities such as Manta or Crucita have a larger selection. Rents outside of metropolitan areas can be as low as $250 per month with utilities averaging under $50 per month; being on the beach can result in higher costs for air conditioning.

As might be expected for a small village, shopping options are limited. Fortunately the larger towns of Manta and Portoviejo are close by and offer many options for groceries and other items.

The Potential Upside for Investors in San Clemente, Ecuador – A Comparison

San Clemente, Ecuador and other beachfront communities on the central Pacific coast today are reminiscent of Costa Rica in the latter part of the twentieth century. Comparing the two regions side by side is a great way to see the possibilities that San Clemente holds for investors and expats looking for new frontiers to conquer.

When the surfing movie “The Endless Summer II” came out in 1994,  it introduced Tamarindo and the surrounding beach towns to the rest of the world. The development that followed along the northern Pacific beaches (Playa Hermosa, Playa Flamingo, Playa del Coco, and Playa Langosta) quickly earned the region the title of “Costa Rica’s Gold Coast.”

San Clemente finds itself in a similar situation today. The Manabi province has become a magnet for adventure sports like hang gliding, paragliding and kitesurfing, much like surfing was for Costa Rica.

Centrally located between Manta and Crucita to the south and Bahia and Canoa to the north, this small fishing village is an ideal location for tourist-centered businesses as well as idyllic beach living.

Favorable market values and real estate laws enhance desirability

With so much undeveloped property available, San Clemente’s market is wide open. Additionally, foreigners have the same property rights as native Ecuadorians; in fact, residency is not a requirement to property ownership.

The only limitations on location are those pertaining to the National Security Areas within 50 km of the borders or coastline. Since San Clemente is a beach village, consulting a real estate attorney to ascertain the status of the parcel being considered is strongly recommended.

Since 2000, the U.S. dollar is the official currency in Ecuador. Without having to navigate issues like conversion values, exchange fees, etc., real estate and commercial transactions become much easier than elsewhere in Central and South America.

San Clemente, Ecuador

One example of San Clemente development

Developers have begun to recognize the potential of the San Clemente area for resorts and multi-unit residences. With the Manta airport just a 40 minute drive away, the Vistazul Townhouse project is an excellent example of the return on investment that can be expected.

Consisting of 70 units spread over a 12 acre site, the low density (25% of the property used for structures) maximizes privacy and “green space.” Located next to a new resort, the Parmazul Artisan Spa Hotel, residents also have the benefits of access to hotel amenities as well as the natural beauty of the beach just 200 feet away.

Before You Go, Consider These Facts

For all the promise that San Clemente holds, it is important to remember that it is still a small fishing village with limited resources and infrastructure. Rustic living may not be for everyone, so deciding if modern amenities are necessary is an important first step to take in deciding whether or not to commit time and money.

With very few expats in residence, the primary language for business and day to day living is Spanish. If having to interact in a foreign language is bothersome, this may not be the best option for a retirement mecca or expat escape.

Life moves at a more casual pace in Latin America and in beach communities in particular. Building projects are apt to take longer than planned for and, as a result, can throw off schedules. Dealing with this kind of uncertainty is not something that everyone is comfortable with.

Ecuador’s “Gold Coast” may be the answer for expats and investors who want to be part of something new and exciting.  Visiting San Clemente, walking the uncluttered sands, and immersing yourself in village life is the best way to understand if this is the doorway to the next “endless summer.”

Nicaragua Real Estate

Alba Sud Fotografia

Why Nicaragua Real Estate Is Top of Mind (or maybe not)

What have you heard lately about Nicaragua real estate opportunities? Can you imagine what it would be like to retire there?

Just close your eyes and see what you can remotely picture in your mind. Certainly you can picture warm water, tropical winds, and sunny ocean beaches; most definitely fishing and surfing, and all that comes with laid-back island life. These images so far may remind you of SoCal or Hawaii.

But then your mind wonders. Who really lives in Nicaragua? Is it safe? How remote or accessible is it? What about the economy? How politically stable is it? What would it be like to live there?

What you probably didn’t imagine are pristine coastal properties surrounded by untouched lush jungle that some Nicaragua real estate investors predict will increase in value up to five hundred percent in the next few years. The country remains approximately eighty percent undeveloped.

What’s New in Nicaragua

Nicaragua is Central America’s largest country, but one of the least populated. Why? Because few people are lucky enough (or brave enough) to have discovered it. This wild tropical paradise with a very stormy, dark history now sees a peaceful and bright green future. Inspired by its two neighboring tourist and retirement destinations – Panama and the “Oh-so-hot” Costa Rica – Nicaragua is finally getting it right.

The Nicaraguan government is heavily invested in targeting foreign investors, namely North Americans. Interior road construction projects, shopping malls, improved water and sewer systems, hospitals, and new transportation initiatives are all underway.

Nicaragua’s good news is spreading quickly. Conde Nast Traveler calls it an “exciting emerging destination” and names Nicaragua a top ten destination to watch in 2014. Nicaragua’s new safe and friendly appeal, unspoiled quiet beaches, lush tropical rain forests, exotic wildlife – and of course, lovely Lake Nicaragua – are all good reasons to visit. Did I mention you can get there in about three hours from the southern U.S.?

But there’s more you should know about investing in Nicaragua.

Why You Should Buy Real Estate in Nicaragua

Living Costs Are Low

Can you live on social security alone? You can in Nicaragua! In 2010 AARP named Nicaragua one of the best places to retire abroad, largely due to the low costs associated with housing and food. Now, with the government’s dramatic infrastructure improvements and Nicaragua’s Retiree Benefit Program, you get even more for your buck today.

Nicaragua’s retirement benefits for expats are the most favorable in Central America. It’s no longer a secret that Nicaragua is poised for strong economic growth as a top retirement destination and expat mecca.

Timing Is Right and Real Estate Is Still Affordable

Nicaragua’s tourism is steadily on the rise, and so follows the demand for Nicaragua real estate. If you’re looking for an “early-in” investment opportunity, your timing couldn’t be more right. Modern infrastructure and political stability are accomplished. New resorts and eco-lodges are popping up throughout the country. The economy is thriving.

And, yes, the opportunity still exists to purchase your dream at an affordable price. The “mango on top” – Nicaragua has few restrictions on the purchase of real estate relating to foreign investment. According to the Bomchil Group (an Association of Latin American Law Firms), foreign investors have the same property rights as local investors.

Nicaragua Real Estate

Jason Wesley Upton

Culture and Lifestyle Is a Bit Hard to Beat

Nicaragua is known as both the “land of poets,” and the “land of lakes and volcanoes.” The name means “here united with the water.” Nicaraguans thrive on freedom and independence. They’re a creative, vibrant, and happy culture bound by religious freedom, tolerance, and community.

Religious celebrations and cultural festivals draw huge crowds and can last for days. In a “coconut shell,” life in Nicaragua is as simple as you want it to be. The best part is, you choose it.

You can catch a Tarpon, hike a volcano, surf  The Boom, or lounge on the beach. Relax in your hammock and read a book, go to a baseball game, or learn to play the marimba and dance The Mestizaje.

If you long for something more than recreation, fiestas, and quiet time, you can always volunteer in your community or start your own business.

Nicaragua’s Best Real Estate Options

The hottest Nicaraguan retirement destinations right now are the colonial cities of Granada and Leon, the capital of Managua, and most notably the southwestern corner of the Pacific coast around San Juan del Sur, where beachfront property options abound.

Nicaragua Real Estate

Craig James

Granada

Situated just 27 miles from Managua on the shores of Lake Nicaragua, Granada is the oldest city in the country. Picture a lazy day in a Spanish colonial town, cooling Lake Nicaragua breezes, historic buildings with red tile roofs, 17th century cathedrals, and treasure-filled museums.

You can smell the aroma of your favorite European dish. You’re preparing to go kayaking and volcano hiking. This could be why Granada is one of the fastest-growing tourism areas in Nicaragua.

Nicaragua Real Estate

Ben Beiske

Leon

The primary northwest city and agricultural capital of Nicaragua, Leon is also a colonial town filled with historic architecture, ruins, ancient cathedrals, and eclectic museums. But what makes it most unique for Nicaragua is, it’s a thriving university town full of cafes, shops, and students.

Property here treats you to impressive views of Momotombo and Momotombito volcanoes. You will get to know Cerro Negro, the youngest volcano in Central America.

Managua

Managua is the spot for you if you enjoy the convenience of big city life. It is the nation’s hub for residents and visitors alike. You can easily take excursions from here to any destination in the country.

Aside from city life, you’ll enjoy your frequent visits to Masaya Volcanic National Park and the Masaya craft markets, beach resorts, and Montibellli Nature Reserve.

Nicaragua Real Estate

Jivika

San Juan del Sur

Think sand and surf on the Pacific coast near Costa Rica’s border. San Juan del Sur is Nicaragua’s most popular surfing destination and beach town. If you love fishing, fresh seafood, and surf, you’ll be in good company.

San Juan del Sur is the country’s most famous tourism destination and has already attracted its fair share of foreign investment. Kick your shoes off and slow down. There’s no “hurry” here.

If you’ve never traveled to Ecuador’s northern coast (or if you haven’t in a while), Bahia de Caraquez, known to the locals as Bahia, Ecuador, is one city that’s worth a second look.

Once a bustling port city, Bahia was virtually devastated by El Niño rains and an earthquake in the late 1990s.  Determined to overcome these tragedies, the town re-established itself as an up-and-coming eco-city, and the results have been astounding.

bahia, ecuador

Patriciota Mariz

Bahia’s Climate Makes It an Ideal Coastal Destination

Although it lies just 40 miles south of the equator, on a peninsula at the mouth of the River Chone, Bahia’s climate is surprisingly comfortable. The city lies in a dry tropical belt that experiences relatively low humidity and temperatures averaging around 80 degrees from May through November.

A wet season begins in December or January and can run as late as April.  During those months, the sky is often overcast with evening showers and temps closer to 85 and moderate humidity.

There’s a constant breeze blowing off the ocean, which helps considerably with the heat.  As a result, there’s less need for air conditioning.  You might even find yourself reaching for a sweater or blanket at night.

Such conditions are considered by many expats to be a breath of fresh air from a lot of the hotter, more humid coastal cities.  Many also find they prefer mild, coastal living to the thinner air that plagues the colonial cities that lie at higher altitudes.

Bahia Offers a Great Mix of Residents

Bahia, Ecuador is a city of only around 30,000 regular inhabitants, which allows it to maintain a small-town feel, despite its popularity as a beach destination.  Most of the locals come from very meager backgrounds, but they aren’t looking to take advantage of visitors and expats.

Instead they’re warm and welcoming to the many middle- and upper-class citizens from Quito and Guayaquil who have vacation homes in the area. In fact, Bahia has a reputation for being an incredibly friendly city.

It’s also extremely safe, with the lowest crime rate in all of Ecuador.  Just like with any other foreign city, you should use care not to carry around wads of cash or flash extravagant items. But in Bahia you don’t have to worry about getting swindled by the locals or walking around late at night.

Because Bahia has historically been somewhat cut off from much of the rest of the country, it doesn’t see a lot of international travelers or expats.  However, that seems to be changing.

In fact, on my last visit I was surprised to see that an established expat community does exist, albeit a small one.

Bahia, Ecuador Has Just Enough of the Attractions You Crave

Whatever your tropical passion, you’re practically guaranteed to find a place to enjoy it at least near to, if not in, Bahia.  Yet at the same time, it’s not overrun with tour buses or overpriced souvenir shops.

There are beaches with small waves that are safe for swimming, yet at times steady enough for long boarding.  You can also go water skiing, sail boarding, or fishing. Both hang-gliding and surfing lessons are available just up the road in Canoa.

Bahia offers a plethora of birds and other wildlife. The nearby Isla Fragatas and Isla Corazon are home to a variety of birds. Saiananda is a local park that’s home to deer, donkeys, ostriches, geese, and sloths.  Whale-watching is also a popular pasttime.

There’s also the Chirije archaeologial site and the Rio Muchacho organic farm to explore.

It’s worth mentioning here that Bahia’s beaches are somewhat limited.  Due to significant beach erosion in recent decades, the south shore of the peninsula is narrow and often crowded.  At high tide it can become almost completely submerged. The north (bay) side of the peninsula is polluted and unsuitable for swimming.

In terms of consumer options, Bahia has everything you’d expect to find in a mid-sized tourist destination, including a new modern supermarket.  What you can’t find in town you can easily get from a nearby large city like Manta or Portoviejo.

One other area where some expats might find Bahia a bit lacking is in its cultural offerings.  While it does have a few attractions, like a great museum, it doesn’t have a lot of them.

bahia, ecuador

Bahia’s Eco-friendly Initiatives Keep Everything Nice and “Green”

Bahia is known throughout the country’s as Ecuador’s cleanest coastal city, ever since it established itself as an eco-city, and the benefits are obvious as you stroll along the beach or through the pristine streets of the city.

Eco-friendly behaviors are a part of life in Bahia.  Residents are encouraged to recycle and employ other sustainable practices. There’s daily garbage service, and the town even has its own paper recycling plant.

It was also the first coastal city in Ecuador to ban the use of plastic bags.

Living in Bahia, Ecuador Won’t Break the Bank

Like the rest of Ecuador, Bahia de  Caraquez enjoys an extremely affordable cost of living. A mere $1,000 per month could buy you a very comfortable life there.

Factors that contribute to the low costs include government subsidized fuel (currently around $1.50 per gallon) and low wages. As a result, almost everything is cheaper in Ecuador and particularly in Bahia.

An almuerzo (a typical lunch of soup, salad, rice, and beans with meat) is only $1.50.  You can enjoy the fresh juice that comes with it or spring for a $1 beer to wash it all down.

Other affordable perks include the services of a domestic helper, such as a maid or gardener, as well as inexpensive Spanish schools.

Bahia Has Bridged the Gap for Expats, Tourists, and Investors

What’s kept Bahia de Caraquez off the radar of most expats and international tourists, has been the fact that it was more than a little off the beaten path. Even merely crossing the Rio Chone, on the most direct route to Quito, once took three hours on a small ferry that held only 12 cars.

After the 2010 completion of the 1.25 mile (2 km) Bahia-San Vicente Bridge, however, the river can now be crossed in only 15 minutes.  This longest bridge in Ecuador is expected to considerably boost trade and tourism to the area, as Bahia is now connected to nearby San Vicente, the fishing village of Canoa and basically the entire rest of Ecuador’s northern coast.  

Getting to Bahia has never been easier thanks to the new bridge. There’s an airport in San Vicente, but it’s small and doesn’t run regular flights.  The next closest are in Portoviejo or Manta, both of which are about 90 minutes or less by bus. The flight to these airports from Quito is only about a half hour.

There are also bus services that run to and from cities like Quito, Guayaquil, and Esmeraldas.

bahia, ecuador

Patriciota Mariz

Why Now Is the Best Time to Purchase Bahia, Ecuador Real Estate

Bahia, Ecuador is a town that has clearly reinvented itself. Although it was due to unfortunate circumstances, the city has no doubt benefited from its fresh new eco-friendly image. This fresh start, combined with the drastic increase in accessibility from the new bridge, has brought new life and new interest to Bahia.

In addition to the renewed appeal of Bahia itself, the town is also strategically positioned for growth in the surrounding areas. The area across the bridge just north of Bahia is a naturally beautiful, and largely underdeveloped, coastal region.  With the new infrastructure in place, it’s primed for a big surge in property values.

The bridge has also opened up a new path for the transportation of merchandise that can now be brought through Bahia on its way to the port city of Manta just 30 minutes south of town, making what could become a stop on a major thoroughfare.

As a result, the time is right to buy or invest in Bahia before prices start to rise. Here are a few examples of what you can get for your money in Bahia, Ecuador.

  • Just $75,000 buys you a 2-bedroom, 2-bath beachfront penthouse with an ocean view in a gated complex with a pool and landscaped grounds.
  • For $170,000 you can have a 3-bedroom, 3-bath condo in a high-rise building with panoramic views of the bay, the beach, and the city.

As you can see, Bahia is still a place to score a great bargain on real estate in an area that has the potential for tremendous growth in the near future. Consumer and cultural options that are currently lacking in the area are likely to be introduced soon.

Who knows? Maybe you could be the one to fill a much-needed niche in the city’s scene.

Heredia, Costa Rica has a unique combination of a rich historical past, relaxed country-style living, and the convenience of a Central Valley location. As one of the most desirable destinations for expats and investors in the country, Heredia has a great potential for return on initial investments with the amenities of a modern, developed community.

With so many options available, Costa Rica continues to be a prime expat destination. Heredia is one such location that can satisfy the desire for a less hectic existence without sacrificing modern conveniences.

Heredia, Costa Rica

Samuel Anugual School

Heredia’s Historical Roots

Long before the Spanish arrived, the area in what is now present-day Heredia was occupied by the indigenous Huetares led by a prominent chieftain, Garabito. Throughout much of middle 1500s, Garabito contested the area with the Spanish and today is viewed as one of the best known tribal leaders in Costa Rica.

In 1706, Spanish settlers established a church known locally as Alvillria. A decade later, this small settlement was moved north to a location known by the Huetare name of Cubujuqui. The community continued to grow and in 1763, was given the status of “villa” and renamed Heredia in honor of the president of the Audiencia of Guatemala, don Alonso Fernández de Heredia.

Following independence from Spain in 1821, Heredia along with Cartago decided to become part of the new Mexican government while the other two major cities, Alajuela and San Jose wanted to be independent. A short civil war resulted in a four year rotating capital city arrangement.

As a result, Heredia became Costa Rica’s capital in 1835 until the arrangement was rescinded some years later.

City of Flowers

Heredia’s nickname is the “City of Flowers.” The lush gardens and wide variety of stunning flora in the area are said to be the inspiration for the name.

There is a second version that states that the correct nickname is actually the “City of Flores” after a prominent political and social family who lived there in the 19th century.  A third, and more romantic origin, is that the city’s name comes from the beauty of its women.

Heredia, Costa Rica

Mario André Cordero Alfaro

Heredia Today

Heredia has become an important hub in the vibrant Costa Rican economy. A number of technology companies have made their home in the area, adding to the prospect of growth in the future.

Additionally, Heredia is also the location of the National University and several Spanish language institutes. The combination of instruction and immersion in Costa Rican culture holds tremendous potential for the future of the region and the country as a whole.

Heredia, Costa Rica

Tico Timess

What Makes Heredia, Costa Rica a Great Investment

Heredia has some unique qualities that enhance its desirability as an investment location.  Expats have long known that this Central Valley gem has an intrinsic value as well as a great potential for a positive return on their initial expenditures. Here are some of the highlights:

Reasonable Cost of Living

The cost of basic utilities in Heredia compares favorably with other Central Valley communities. The range for electricity, water, garbage, and internet/cable is a reasonable $104 to $120. Importantly, more moderate temperatures means not having to use air conditioning (a major factor in electricity costs) as much.

Being located just ten kilometers from San Jose, Heredia has a wide variety of properties for sale or rent. The choices can range from small “tico style” houses to modern condominiums to luxurious single family mansions.

The amount needed to rent or purchase is a direct reflection of the location (city center versus more rural), type of property (single family or multi-unit) and amenities included. Locations further away from the major metropolitan area are more economical than those closer to the major centers of Escazu and San Jose.

It’s All About Location

Heredia is, literally, in the heart of the action in the Central Valley.  Close to the major metropolitan areas of San Jose, Escazu and Alajuela, shopping and entertainment are within easy reach.

Located in the foothills of the now-extinct Barva Volcano, Heredia still retains its essence as a quiet community whose pace of life is not as hectic as its larger neighbors.

Close and Convenient

The Juan Santamaria International Airport is less than a half an hour drive away, making Heredia an easy destination for travelers from the U.S., Canada, and Europe. Rental cars, private shuttles, and public buses are both inexpensive and plentiful.

Heredia is also close to several of the most popular tourist locations in the country. The Arenal and Poas National Parks are home to two of the most stunning and most visited volcanoes in Costa Rica.

There are several coffee plantations located in the Heredia area offering tours and tastings. Various celebrations and the weekend farmer’s markets provide a unique opportunity to experience life the “pura vida” way.

Though not close to the beach, Heredia’s proximity to the airport makes flying to one of the beachfront communities along the Pacific an easy option. Both Sansa Air and Nature Air offer domestic flights to beachfront destinations like Nosara and Tamarindo.

Heredia, Costa Rica

Central Valley

Great Climate

The weather in Heredia is one of its most desirable features. With temperatures in the 75-80 degree range, the need for constant air conditioning is greatly reduced; a real benefit on the budget as well.

Language Is Not a Barrier

One of the most attractive features of Heredia (and the Central Valley in general) is the large expat community that lives in the area. While having some knowledge of Spanish is always useful, there are abundant English speakers in the area, making daily living that much less of a challenge.

Making the Most of the Money

Heredia, Costa Rica holds a great potential as a source of rental income for those who aren’t quite ready to make Costa Rica their full-time residence.  Tourists and vacationers will find the Central Valley location, ease of airport access, and proximity to modern amenities a desirable alternative to staying in a hotel. With the growing number of internet-based resources, gaining a strong return on the initial investment is easier than ever.

Map of Heredia, Costa Rica

Hererdia, Costa Rica Fast Facts

  • Population: 13,500
  • Typical temperature: 70 degrees Fahrenheit
  • Nearest airport with U.S. flights: San Jose, Costa Rica
  • Nearest U.S. consulate: San Jose, Costa Rica
Viva Tropical Radio

Viva Tropical Radio

Josh and Park have experienced many different colorful situations over the years while scouting out real estate investments. Join them today for a podcast recount as murder confessions, 300 lb. tunas, and 9mm Berettas all make appearances when they retell some of their stories from the road.

Maybe the greatest job in the world, Park and Josh reminisce about some of their most memorable days while exploring the far reaches of Central America in their search for the best real estate can offer.

In this episode, we discuss:

  • How to get the right boat for scouting
  • Why bodyguards make fun scouts
  • Where you can reel in a 300 lb. tuna

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:

The Show Notes

What makes a destination a great place to live? Is it the place with the most pleasant surroundings? The lowest cost of living? Or even the healthiest and happiest people?

In compiling my list of the best places to live in the world, I took into consideration all of those factors.  Plus some others I’ll mention as we go.  And the common denominator among all ten of my top destinations is that they’re all in Latin America.

best places to live in the world

liveandinvest

Why? Because the countries just south of the U.S. border have so much to offer in terms of natural beauty, authentic culture, unrivaled quality of life, and a heck of a lot of bang for your buck.

That’s why these ten best places to live in the world are becoming home to an increasing number of North American expats each year.  Because when it comes down to choosing a place to actually settle down and dive into the local culture and become a part of the expat community, you just can’t beat these ten destinations.

Bonus: Get free, in depth research on each of these places and how they compare to each other. Click here to get access to the free report.

Boquete, Panama

Panama consistently ranks among the top retirement destinations in the world, taking top billing again in 2014.  And Boquete is its crown jewel, claiming more North American expats than anywhere else in the country, with the exception of the capital of Panama City.

Yet even with its status as a top expat hotspot, it still maintains a small-town feel, due in part to its quaint mountain setting and friendly locals. It’s also home to pretty much any type of business or service you could ever need, thanks to a long-standing expat presence.

Surrounding Boquete are cloud forests, coffee farms, rivers, and numerous other natural landscapes that offer a wealth of activities for the adventurous expat.  The area enjoys spring-like temperatures all year, with frequent showers that produce almost daily rainbows.

The cost of living is low, although it’s slowly climbing as more and more expats settle in the area.  With fantastic infrastructure and a lot of modern developments, it’s still a great value.  Panama is also a favorite destination due to its attractive retirement program benefits for those who qualify.

Cuenca, Ecuador

Cuenca is another mountain town with a large expat community, and for good reason.  It’s known for its rich culture, which includes its colonial architecture and a lively art and music scene.

Ecuador also boasts one of the lowest costs of living in the Americas.  You can plan to spend less on everything from fresh produce to a renovated condo in the bustling downtown area.

Cuenca is home to a number of universities, making it a hub for international students.  It’s also a great, safe place for families with its excellent education and health care options.

There are also plenty of great restaurants, bars, shopping centers, and all of the other creature comforts you’d expect to find in a metropolitan city.  Yet it enjoys the same slow pace of life you’ll find throughout Latin America.  It’s the best of both worlds.

Though it’s recognized for the terra cotta roofs and blue church domes that dots its city skyline, the area around Cuenca is equally breathtaking.  It sits at the convergence of four rivers and is surrounded by mountains, offering plenty of opportunities for outdoor adventure.

top 10 places in Central America

Tierra Magica

Nosara, Costa Rica

Nosara is the perfect example of what happens when a city is founded with a plan and the residents remain committed to that vision for decades running.  Once used for grazing cattle, the land in and around Nosara has been developed very intentionally, and the results are really remarkable.

No high rise condos block your view of the beautiful sunsets on Nosara’s pristine beaches.  Numerous conservation efforts and organizations work to maintain the area’s natural surroundings.

Nosara is known for its surfing, yoga, and healthy lifestyle options.  It’s also a great place for families.  It’s safe and has several really good schools.

And Costa Rica’s laid-back lifestyle easily adds to the reasons Nosara is one of the best places to live in the world.  The locals are incredibly welcoming, greeting residents and visitors alike with the phrase “pura vida” (pure life) that’s become a motto of sorts for the country.

Nosara has a good-sized expat community, as well as the established infrastructure and development you’d expect from such a world-class destination.

best places to live in the world

Steve D.

Roatan, Honduras

The largest of the Bay Islands, Roatan is a great choice if island living is what you’re after.  With plenty of development and consumer options, as well as an airport with direct flights from the U.S., there’s little need to ever leave the island.

There you can enjoy every imaginable aquatic adventure.  From sailing to sport fishing to kayaking through the mangroves, it’s all possible in Roatan.  Just off the coast you’ll also find access to the world’s second largest reef system, which makes for some incredible snorkeling and scuba diving.

Because it hasn’t quite yet reached the popularity of some of its Latin island counterparts, Roatan is still a bit more affordable.  However with its growing tourism industry, including frequent visits from cruise ship passengers, Roatan’s appeal is being discovered by more and more would-be expats each year.

Despite its growing population Roatan still offers some off-the-beaten path areas that offer plenty of solitude, including a few villages that still don’t have electricity.

best places to live in the world

VivaTropical

Boca Chica, Panama

Another Panama destination has made the list, thanks to its attractive retirement benefits and amazing investment opportunities. Boca Chica is an island destination that’s still relatively unknown but has the potential for tremendous growth in the coming years.

Located in the Gulf of Chiriqui, it consists of a mainland city and an archipelago of over 50 islands, many of which are completely uninhabited.  Residents of Boca Chica can spend their days exploring otherworldly islands covered in rainforests, mangroves, and even white sand beaches.

And because of its convenient location, those same adventurous expats can then take a quick shower and drive 45 minutes to enjoy a first-rate steak dinner in a world-class restaurant in the nearby city of David.

It’s this strategic location, combined with a whole host of ongoing infrastructure improvements, that makes Boca Chica real estate such a great investment.

An airport expansion that’s now bringing in direct international flights is among one of the biggest value-adds the area has seen. Folks can now fly in to David from anywhere in the world and find themselves in Boca Chica in under an hour.

best places to live in the world

P. Schenll

Granada, Nicaragua

Granada is another colonial city that’s absolutely brimming with culture and charm.  Horse-drawn carriages still dot the cobblestone streets.  If it weren’t for the freshly-painted tropical colors on the historic buildings, you might think you’d stepped back in time.

Well, that and the modern amenities available in the city, a stark contrast from the wilderness that occupies most of the rest of the country.  In what’s a mostly underdeveloped country, Granada offers things like reliable utilities, four-star restaurants, and state-of-the-art fitness centers.

It’s located on Lake Nicaragua, one of the largest freshwater lakes in the world.  It’s also surrounded by several volcanoes, so plenty of opportunities for exploration abound.

Granada is a town that fought its way back from near demise due to bankruptcy and other issues, but you’d never know it today. Instead, modern-day Granada is abuzz with construction projects and up-and-coming developments.

Granada real estate is extremely affordable, as is the cost of living in the country. It’s home to a number of expats, many of whom are involved in humanitarian efforts in the surrounding impoverished areas.

Ambergris Caye, Belize

If you want to feel like you’re on vacation 24/7 then look no further than the island of Ambergris Caye.  Due to its status as a tourist mecca, it’s ripe with all kinds of activities and attractions.

There are surf shops and scuba schools, beach-side restaurants and bars, and plenty of flip flops and floral shirts.  In fact, most of the island’s inhabitants are foreigners, particularly those who operate enterprises geared towards other expats and visitors.

The large expat community isn’t the only thing that makes Ambergris Caye feel familiar. Because Belize was originally a British colony, it’s the only Central American nation whose residents rely on the British legal system and speak English as their official language.

Among the biggest perks of the island are that it’s an ocean lover’s dream.  Thanks to its proximity to the Belize Barrier Reef, the second largest in the world, it’s the perfect place to enjoy scuba diving, sailing, and sport fishing.  You can also explore the more than 450 other islands that lie off the coast.

Antigua, Guatemala

If you’re looking for a place that’s a little less popular among expats and tourists, then you should definitely check out Antigua. It’s a well-preserved colonial city nestled in between some amazing mountains and volcanoes, which make for an impressive skyline.

Because it’s not as highly sought after as some of the other destinations on the list, the cost of living in Antigua is probably a little less than in some of its Latin competitors. Real estate is a great bargain, as are essentials like fresh fruits and veggies and utilities.

With the low cost of living, it’s also possible to splurge on luxuries such as domestic help, which at only $2 or $3 per hour is something many expats are thrilled to find that they can afford when they relocate to the tropics.

In addition to the mountainscapes, Antigua is also decorated with beautiful flora and fauna, as well as the cobblestone streets and other charming touches you’d expect in an ancient destination.

Equipped with just the right amount of infrastructure, Antigua is also known for its Spanish language schools.

best places to live in the world

Phil

Placencia, Belize

If you like Belize but aren’t crazy about the gringo-saturated island culture then the mainland city of Placencia is another place worth the title of best places to live in the world.  If the islands are like living on a resort, then Placencia is like relaxing on a postcard.

The beaches are wider, whiter, and less crowded than in places like Ambergris Caye.  There are still plenty of activities to enjoy, but there are also more places to spread out or even find a secluded spot all to yourself.

There’s also a more authentic Caribbean vibe on the mainland, which many expats prefer.  It has an even more laid-back atmosphere (if that’s possible), with not even so much as a paved road anywhere in town.

As opposed to the expat-run businesses on the island, the locals are very involved in commerce in Placencia.  They even offer guided diving and fishing excursions to visiting foreigners.

Plus, since Placencia is on the mainland, it’s also close to a number of activities suited for the land lover, like jungle exploration and archaeological sites.

best places to live in the world

Alex Torres

Lake Chapala, Mexico

Understandably Mexico is home to more U.S. expats than any other country.  And, other than the border town of Tijuana, the majority of those live in the Lake Chapala area.  So suffice it to say that 40,000 U.S. expats would agree that this city is one of the best places to live in the world.

Mexico’s largest freshwater lake, Chapala was once planned as a luxury resort town.  It serves as a weekend getaway for locals from Guadalajara and has attracted expats for decades, including Tennessee Williams who chose it as the site from which to write A Streetcar Named Desire.

In addition to the beauty of the lake and surrounding mountains, Lake Chapala offers an ideal climate year-round.  It’s also famous for its mariachi music.

Which of the best places to live in the world is right for you?

So if stunning scenery and adrenaline-pumping adventure are your thing, there’s a place on this list that’s right for you.  If sustainable living and a relaxed vibe are what you’re into, there’s a destination where you can find those as well.

I’ve done the hard part by laying out the ten best places to live in the world.  Now all you have to do is narrow it down.

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Blue Zones, those special places on earth where people live longer and healthier lives, first came to prominence in the ground-breaking book by Dan Buettner, Blue Zones. 

Nicoya, Costa Rica is one of those unique locations where lifestyle, diet, and low stress have dramatically bettered the lives of Ticos and expats alike. Truly, Nicoya embodies the essence of the Costa Rica mantra “pura vida”– pure life.

Nicoya, Costa Rica

Nicoya, Costa Rica

As a result of the publicity generated by Buettner’s book, towns in the Nicoya Peninsula, such as Nosara, are experiencing a new level of growth. Expats seeking a less frenzied existence have discovered what native Costa Ricans have known for years – that Nicoya is a special place to live, explore, and experience.

Nicoya, Costa Rica Has Been a Desirable Location from the Beginning

Even from its earliest days, the Nicoya Peninsula has been a valued location. In the pre-Colombian era, the peninsula was occupied by two groups: the Churusteca and the Nicoya. However, after a visit by the Spanish conquistador Gil Gonzalez Davila in 1523, Nicoya’s colonial era began in earnest.

From Spain to Nicaragua to Costa Rica, Nicoya Followed Its Own Course

The first chapel in Nicoya was erected in 1544 and is considered to be the oldest parish in Costa Rica. Ten years later, Pedro Ordonez was appointed magistrate of Nicoya as the whole Guanacaste region became part of what was known then as Nicaragua.

Natives of the area, called Gunacastecos, had a strong independent spirit and on July 25th, 1824 voted to secede from Nicaragua and join Costa Rica. Later, on December 7th, 1848 Guanacaste and the Nicoya Peninsula formally became a Costa Rican province.

Even today this spirit can be found throughout the peninsula. The flag of Guanacaste is still flown although the principles of “pura vida” temper this desire of a separate destiny from the rest of the country.

What Makes Nicoya a “Blue Zone”?

The term “blue zone” is defined as a region or group where the residents live longer, healthier lives. Originally used in studies done by demographers Gianni Pes and Michel Poulain of Sardina’s Nuoro County, the term was popularized by Dan Buettner in his book of the same name.

Buettner identified the Nicoya Peninsula as an area meeting the criteria for a “blue zone”. In 2007, Nicoya was the subject of a Quest Network expedition examining these findings.

Nicoya, Costa Rica

Nicoya Peninsula from the air

What Expats Can Expect Living in Nicoya

Perhaps the key feature of moving to the Nicoya Peninsula is the pleasant discovery that the pace of life is slower. Three of the most popular towns on the peninsula – Nicoya, Nosara and Samara – are all small communities with a true Costa Rican “vibe” attractive to visitors, expats and locals. Amenities are basic and are continuing to be improved to provide service to the new arrivals from the U.S., Europe, and Canada.

The cost of living, while not the most inexpensive in the country, is far more affordable for those on a budget than other expat destinations such as Escazu, Tamarindo, or the Central Valley. The types of properties available for sale or rent is broad and can range from a small “tico” house to a modern residence with landscaping and pool; again, price can vary on what a particular individual is seeking as their ideal tropical escape.

Higher-end items like vehicles, appliances, and electronics are higher priced (as is the case throughout Costa Rica) since they have to be imported and are subject to import taxes. Most big ticket items would require a trip to the San Jose area since that is where the vendors who sell them are located.

Getting There and Back Again

International flights into Daniel Oduber Quiros airport in Liberia make travel from outside the country to the Nicoya region a convenient task. With the number of daily flights increasing, flight options will increase in the future.

There is a small airport at Tambor that does have scheduled flights with domestic carriers Sansa and Nature Air. There is a second airport located in Samara that does not have regularly scheduled flights. However, it is possible to arrange for private charter flights from San Jose.

There are a number of transportation options to get to the Nicoya Peninsula proper. The first option is to drive; while there are some paved roads, the number of gravel and dirt roads in the area make having a 4×4 vehicle the most desirable choice. Rental cars are available in Liberia or San Jose (if that is your initial point of arrival.)

There are buses that connect the communities in the Nicoya region with both Liberia and San Jose. This is part of the excellent public transportation system in Costa Rica and is an economical way to get where you are going and to actually have the time and freedom to enjoy the ride.

Lastly, for those seeking a different approach, the ferry from Puntarenas travels to both Naranjo (for the area around Nicoya and Nosara) and Paquera (for Tambor, Montezuma, and Santa Teresa). The roughly hour-long ride can give passengers a great opportunity to see the Gulf of Nicoya and views of the peninsula from a new perspective.

Things to See, Things to Do

The Nicoya Peninsula has a large collection of activities to go with its stunning beaches, natural preserves, and colorful villages. Whether your tastes run to pulse-pounding adventure or quiet contemplation, there is something here for everyone.

Adrenaline and Meditation – the Surf/Yoga Blend

As part of the lifestyle options available in Nicoya, there are many yoga, spa, and meditation retreats that have become world renown. Contemporaneously, surfing has become a major draw for those seeking the adrenaline rush of riding the challenging waves.  In a uniquely “pura vida” approach, there are a growing number of ocean side establishments that offer both yoga and surfing in a merger of activities that challenge both participants’ bodies and minds.

Explore Natural Beauty

The Casa Blanca Absolute Wildlife Reserve, with its 3000 acres, has been rightly called one of the most scenic spots on the Pacific Coast. The Reserva Biologica Nosara is a 35 hectare reserve with trails that lead through a mangrove wetland. Well known as a great place for bird-watching, visitors can arrange for self-guided tours through the park.

One of the most ecologically important and profound experiences on the peninsula can be found at the Ostional Wildlife Reserve. It is here, during the months of August through November, where the giant leatherback and green sea turtles come ashore to nest.

These mass inland migrations, called arribadas, occur at night (usually between 8 p.m. and 4 a.m.) just prior to the new moon. Watching these special creatures heed this primal instinct is something that can truly be said to be a once-in-a-lifetime event.

Celebrations and Festivals

The Nicoya region has a number of special festivals that can allow visitors and expats to immerse themselves in the rich cultural heritage of this land. Perhaps one of the most important celebrations is the Fiestas Civicas.

Occurring in mid-January, this is a celebration of the life and culture of the sabaneros – the Costa Rican cowboys who are an essential part of Guanacastan and Nicoyan heritage. Much like their North American counterparts, this festival is a chance to demonstrate the skills of the sabanero in the form of contests and rodeos.

The week of July 20-25th celebrates the entire province of Guanacaste, including the Nicoya Peninsula, leaving Nicaragua and becoming part of Costa Rica. It is one of the major holidays of the year.

Pica de Leña, the festival of wood cutting, is held on November 12th, celebrated with music, food, and drink.  A month later, on December 12th, the wood that was gathered is used for the communal cooking in the celebration of Yeguita – when the image of the dark Madonna is paraded through the streets of Nicoya and then returned to the main church where food and drink are once again served.

A Celebration of the Spirit

Nicoya is a special place where expats can spread their wings and explore what a life less encumbered may offer. Truly, this is the essence of what “pura vida” – the pure life – is all about.

Map of Nicoya, Costa Rica

Nicoya, Costa Rica Fast Facts

  • Population: About 14,000
  • Typical temperature: Mid 80’s
  • Nearest airport with U.S. flights: Liberia, Costa Rica
  • Nearest U.S. consulate: San Jose
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