Anonymous - 2-20-2005 at 03:30 PM
http://msnbc.msn.com/id/7000175/site/newsweek/
By Carolyn Whelan
For North Americans and Europeans looking to buy vacation homes, few places are more alluring these days than Latin America. "Many people are sitting
on equity in their homes," says Ronan McMahon of International Living, an Irish organization that helps expats find overseas homes. "They can release
that equity and live in Latin America at one fifth the price." tip sheet discovered some of the region's hottest properties:
Mexico: In sexy Los Cabos on the Baja Peninsula, per-square-meter home prices range from $410 for a mountainside hideaway to $4,725 for an oceanfront
condo (mihc.com.mx). Some 10,000 expatriates winter in lakefront Ajijic?one hour from Guadalajara?for its temperate climate and lush vegetation. Home
prices more than doubled last year, to an average of $150,000 (ajijic.com). Bohemian San Miguel de Allende, in central Mexico's highlands, is renowned
for its cobblestone streets and art galleries. Square-meter prices range from about $600 for a condo in a gated community to $2,500 for a luxe
hacienda.
Costa Rica: Looking for wildlife, beaches and a stable economy? Two-bedroom homes in high-end Escazu, on the western end of the capital, San Jose,
start at about $120,000?double or triple what they sold for five years ago (remax-first-cr.com).
Nicaragua: Coastal houses south of Managua sell for as little as $100,000; land ranges in price from $6,100 to $41,000 a hectare. And in Granada,
Spanish colonial homes hover around $150,000. "We're selling as many coastal properties in three months as we used to sell in a year," says Steve
Snider of Sniders Realty. "You can live in a trailer park in Florida or live like a king here." Nicaraguan property prices rose about 28 percent last
year (www.sniderrealty.com.ni).
Panama: Miami-style beachfront high-rises in Panama City are priced about $1,000 a square meter and up (acobir.com). Other selling points include
offshore-banking services, affordable health care and U.S. warehouse chains like Costco?as well as spectacular mountains, jungles and lagoons
(internationalliving.com).