Il march2015 issue (2) by Annie Power

www.InternationalLiving.com

March 2015 vol.34 no.11

Living INSIDE THIS ISSUE

P. 10

Real Estate in Italy’s South for Under $113,000

P. 18

The Finest Neighborhoods in Ecuador’s Colonial Capital

P. 26

Now is the Time to Buy Development Land in Latin America

P. 33

“How I Broke into the Paris Food Scene”

Plus Plus

OUr FavOrITE ISl aNDS OF 2015 2

P. 20

The Best Tropical Islands for Retirees

internationaL

Globetrotter offshore & finance expat stories upcominG events real estate classifieds

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InternatIonal lIvIng

Contents MARCH 2015

From the Editor

Our grown-up’s guide to running away

International Dates

Antiques, elephants, and Julius Caesar

Savvy Traveler

Santa Catalina: Panama’s Pacific-coast paradise

Offshore & Finance

The great silver surprise

Lifestyle

“We sold our house, ditched our jobs and took to the road for a life of adventure”

Real Estate

Bargain buys in Apulia, Italy’s sun-kissed south

Living the Dream

A fairy-tale retirement in Old World Europe

Solutions

Low-cost and personal: The pleasant truth about health care in Ecuador

Lifestyle

The stylish pearl of Colombia’s coffee region

Exploration

The finest neighborhoods in Ecuador’s convenient, colonial capital

Cover Story

Our top five tropical islands for retirees on a budget

Market Watch

“I’ve never seen a better time to buy development land in Latin America”

Investment

Dare to profit in these 10 overlooked Asian markets

Collectibles

Everyone wants a piece of movie magic

Income Overseas

“Funding my life in Istanbul with a spare room”

Income Overseas

“How I broke into the Paris food scene”

Travel

Pirates and the world’s best snorkeling on the Caribbean’s forgotten island

Classifieds

Opportunities from around the world

Calendar of Events

Panama: Your perfect retirement within reach

Global Property Notes

Artistic escapes around the world

The Last Word

Relaxing into the pace of island time

International Living (ISSN 0277-2442), © Copyright 2015 by International Living Publishing Ltd. All Rights Reserved. Protected by copyright laws of the United States and international treaties. This Magazine may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of International Living Publishing Ltd., Elysium House, Waterford, Ireland. International Living is published monthly. Subscriptions: In the United States US$69 for one year, in Canada C$89 for one year, elsewhere US$89 for one year. Printed in the USA. Postmaster: Send address changes to International Living, International Living Publishing Ltd., Elysium House, Ballytruckle, Waterford, Ireland. Copies of this magazine are not available on newsstands but are furnished directly to the public by mail subscriptions only. International Living presents information and research believed to be reliable, but its accuracy cannot be guaranteed. There are many dangers associated with international travel and investment, and readers should investigate any opportunity fully before committing to it. How to contact us: Customer service: To place an order for a product/subscription, renew a subscription, pay a maintenance fee, change an address, follow up on the status of an order, or inquire about a missed issue, etc., see: www.internationalliving.com/about-il/customer-service. Editorial offices: Editors, International Living, International Living Publishing Ltd., fax (353)51-304-561. For our writers’ guidelines, see: www.internationalliving.com/about-il/write-for-il. International Living is happy to receive manuscripts on speculation, but the publisher cannot be responsible for unsolicited manuscripts received for review. All editorial requests will be reviewed and considered when we plan our issues. Not all requests, however, can be answered personally due to the volume of inquiries we receive. Media inquiries: For all press and media inquiries and to discuss syndication, contact Associate Editor, Carol Barron, email: CBarron@InternationalLiving.com. MARCH 2015

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Our Grown-Up’s Guide

FROM THE EDITOR

TO RuNNING AWAy

hat is it about the word “island” that makes a mind race instantly to “escape?” i suppose it’s that watery obstacle that separates any dollop of sand from its mainland neighbor. You must cross over…and so with your back turned to the old, you train your eyes toward that new shore. sunglasses on, wind in your hair, it just feels like you’re getting away with something. (never mind you may actually jet in aboard a boeing 747.) whatever vessel carries you, it’s a journey along which things fall away— stress, worry, your workaday sense of time. on an island, the pace slows, you live in the present, you shed concerns right along with your closed-toed shoes. around the office, we’ve been calling this month’s issue our “Grownup’s Guide to running away,” which begins with our report on the best tropical islands for retirees on a budget (p. 20). From the Caribbean to the south China sea, you’ve got excellent, sandy, palm-rimmed options. and none will break the bank. Yes, island living typically costs more—after all, everything must be imported. but we bring you five sun-splashed escapes where you can live simply, but comfortably starting from less than $2,000 a month. and it’s not just islands you could run away to…you’ll meet an expat couple (p. 8) who’ve been traveling full-time since 2010. From europe to antarctica to the americas, they’ve wandered the world—creating an income along the way—and they show you just how they do it. You could escape to europe today, where a strong dollar has put everything on sale. steenie harvey sings the praises of italy’s “unspoiled, laidback, and endearingly eccentric” heel (p. 10). with its sandy beaches, vineyards, and silvery olive groves, the values are strong and there’s plenty on the market for under $113,000. or you could slip away with real panache in south america. at the heart of Colombia’s coffee triangle you’ll find one of latin america’s most stylish cities (p. 16). running Jennifer Stevens, Executive Editor away has never looked more attractive.

MARCH 2015, Volume 34, Number 11 InternationalLiving.com Founding Publisher William Bonner Publisher Jackie Flynn Executive Editor Jennifer Stevens Editorial Director Eoin Bassett Junior Editor Conor William O’Brien Ezine Editor Annie Power Copy Editor Glynna Prentice Photo Editor Hugo Ghiara Online Managing Editor Laura Doyle Cover illustration Paul Cox

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Contributing Editors Bob Bauman, Linda Card, John Clites, Wendy DeChambeau, Barbara Diggs, Michael Evans, David Hammond, Steenie Harvey, Suzan Haskins, Bonnie Hayman, Keith Hockton, Jason Holland, Ann Kuffner, Ronan McMahon, Glynna Prentice, Dan Prescher, Jessica Ramesch, Barbara Ross, Edd Staton, Margaret Summerfield Advertising Elaine Finnegan fax (353)51-304-561 email: efinnegan@internationalliving.com

MARCH 2015

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IN T E RNAT IO NA L DATES

Antiques, Elephants, and Julius Caesar By conor William O’Brien

arch sees the Irish across the world assemble to celebrate St. Patrick’s Day, and there are few better places to take part in this grand revelry of all things Irish than the capital city, Dublin. But it won’t be just Irish culture on display this March 17; the parade in Dublin (Ireland’s largest) will feature floats and performers from around the world, not to mention copious amounts of beer. Not to be missed. Neighboring Scotland will have a more literary focus in March as StAnza, one of the UK’s premier poetry festivals, comes to the historic town of St. Andrew’s. From March 4 to March 8 a wide variety of poets will descend upon the town for readings, workshops, discussions and, of course, live performances, bringing with them a terrific atmosphere to the area. This is also a great time of year to explore St. Andrew’s. It’s one of Scotland’s most beautiful towns and is famed for its prestigious university, coastal resort, and some of the best golfing to be found anywhere in the world. Elephants’ central role in Thai culture is recognized every March in the form of Thai Elephant Week, which takes place in the northern province of Lampang. Tourists and locals alike gather at the Thai Elephant Conservation Center for the chance to interact with these gentle giants. Visitors learn about elephants’ pivotal place in Thai heritage, as well as the bond between the mahout—the elephant-rider—and his mount. The event kicks off on March 13. The Mexican town of Zihuatanejo— immortalized in The Shawshank Redemption—plays host to a world-class guitar festival March 6-15. The festival attracts a wide range of performers from around the world, encompassing styles as diverse as rock, jazz, and flamenco. You’ll also have a perfect opportunity to see everything else that this locale has to offer, particularly its beautiful Pacific beaches. Hong Kong often styles itself as Asia’s global city, and in March it will reflect that title when it hosts the annual Asia Contemporary Art Show March 1215. This grand exhibition will feature over 3,000 works of art from all over the world, including paintings, sculptures, and

photographs spanning an immense variety of styles and subjects. Artists will be on hand to answer visitor questions about their work and motivations. The Dutch city of Maastricht also gets its artistic juices flowing in March, as it welcomes the European Fine Art Fair March 13-22. It’s the leading art and antique fair in the world and sees thousands of visitors descend upon the city. You’ll have the chance to view medieval manuscripts and trinkets in the flesh, as well as contemporary pieces and artefacts from around the world, all of which have been rigorously tested for authenticity. March 15 marks the anniversary of Julius Caesar’s assassination. This is a great day to stop by the Eternal City to enjoy

a commemoration that sees reenactments of his killing take place in the Torre Argentina square (site of his actual demise). Meanwhile, numerous other cultural events take place in the Roman Forum near the famous Caesar statue. March is a beautiful time to visit Rome, with the city’s many trees entering blossom, and a great excuse to savor the city’s sumptuous wines and world-famous cuisine. Wine will be the focus at the Grape Harvest Festival in the Argentine city of Mendoza. Considered by some the greatest celebration of wine on earth, the event concludes the grape harvesting season in style, with over a million liters of wine consumed during the festival, which also features parades, floats, and a harvest queen. n

Notes from an Offbeat World… Every Valencian Turns into a Pyromaniac By Steenie Harvey

Every march in Valencia, hundreds of sculptures are put to the torch at the Las Fallas festival.

y clothes don’t normally reek of gunpowder. But during Valencia’s Las Fallas—Europe’s weirdest fire festival—things are anything but normal. On the night of march 19, it’s as if every Valencian turns into a pyromaniac, hell-bent on setting the city ablaze. The Cremà, or Burning, ends a five-day festival to welcome spring. What gets put to the torch are 750 or so fallas—work-of-art sculptures made of wood, cardboard, and papier-mâché.

They’re comical, satirical, and sometimes downright raunchy. months in the making, placed on street corners and in plazas, some sculptures are over 30 feet high. They’re stuffed with firecrackers and when they burn, the heat is intense. You quickly realize why fire trucks are on stand-by. To admire the fallas, get there at least a couple of days before the Cremà. And take ear-plugs. Daily at 2 p.m., the mascletà is a deafening succession of gunpowder explosions. Every night ends in a breathtaking fireworks display. Hungry revelers have to slot in wherever they can find space. But if there’s a table, La Pepica is wonderful for a treat. Beside the beach on Paseo Neptuno, it was a favorite haunt of Ernest Hemingway. Including wine, expect to pay around $40 per head for a three-course dinner. Try paella—Valencia is the spiritual home of this delectable rice dish. Traditional Valencian paella contains chicken, rabbit, and sometimes snails, too, but seafood paella appears on most menus. n

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G LO BETR OTTE R

News & Notes from Around the World

On the Cover This Month…

Roatán—with its sumptuous beaches, affordable lifestyle and year-round sunshine—is an ideal tropical island for retirees.

Why no one thought about combining hot tubs and bigscreen movie-going before we’ll never know…but it’s finally happened. In two UK cities—London and Bristol—you can book one of 30 or so hot tubs, grab a few cold beverages, and kick back to watch movies from Disney’s Frozen to The Hangover. There’s room for six to eight friends in your hot tub and it’s simple to book. (See: Hottubcinema.com for listings and times.) Then, just arrive with your appropriate hot-tub gear. Sit back and enjoy the film. Feeling a bit peckish? Just ask your own private waiter to get you a snack, or even a cold refreshment. Hot tubs are not all the UK has to offer for a diverse cinema experience. It’s now at the center of innovative movie going. For instance, sign up for Secretcinema.org to find out where the secret screenings of “live immersive” films are taking place and experience a whole night themed around the film in unusual locations. The last one was The Grand Budapest Hotel—recreated in a London warehouse and complete with bellhops.

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2,500 Beers on Tap

Chicken Poop Bingo

The Belgian capital of Brussels doesn’t get many vacationers but it’s not without attractions. Tucked down the narrow dead-end street of Impasse de la Fidélité is the Délirium Café. This bar claims to have the most beers on tap in the world. Indeed, in 2004 they received the Guinness World record for most beers offered in a single bar. IL Editor, Eoin Bassett, has sampled some of the varieties on offer and says: “It’s not quite a café, more a warren-like tavern with gleaming brass taps lining several different bars. You can choose from lists of local brews written on chalkboards or just put yourself in the hands of the bar man who can suggest some options depending on your tastes.” Some guidance might be good as you’ll find around 2,500 different varieties of beer to choose from. See: Deliriumcafe.be.

Think of the island of Ambergris Caye in Belize and you might imagine yourself strolling barefoot on its sandy beaches or swinging in a hammock, cocktail in hand... but you’ll find a lot more than quintessential Caribbean… Every Thursday Wahoo’s Lounge in the main town of San Pedro hosts the infamous “Chicken Drop.” This local bar has made a fun tradition of gambling on chicken poop. Participants bet on a number, a chicken is set loose on a large board of sorts, and you must hope that the chicken will poop on your number. If it does you win a $100. Once the chicken is on the large grid-like board numbered one to 100, the crowd is encouraged to lure the chicken to their number. Purchasing some corn kernels to place on your square is a clever tactic to get the chicken to head from a snack on your number. When the droppings are made, the winner is announced. Be warned—no cash is handed over until the winner cleans the mess. See Wahoo’s Lounge’s Facebook page for more information on how to get involved in the infamous Chicken Drop.

Hot Tub Cinema

Crazy Communist Tours

n this month’s feature story we reveal how you can have a life of white sand beaches and swaying palms for as little as $1,500 a month for a couple renting. If you have ever dreamed of retirement on a tropical island, turn to page 20 where our experts from around the world present the top five tropical islands for retirees on a budget. As well as great weather and the kind of relaxed island life that lowers the blood pressure, these destinations have the infrastructure and amenities you need for a comfortable life. Among our choices you’ll find state-of-theart hospitals, expat community groups, any number of great restaurants, deserted beaches where you can plant your flag and high-end homes complete with swimming pools and ocean views…turn to page 20. n

Zipping around corners and bouncing down streets in a tiny communist-era Trabant car might just be the most memorable way to see some of the Polish city of Krakow. Crazy Communist Tours takes you back in time to when the Iron Curtain was drawn across Eastern Europe. It focuses on the centrally-planned Socialist district of Nowa Huta, which under Communist rule was home to the largest, and one of the most successful steelworks in Poland. The steelworks was aptly named after Vladimir Lenin. With stories and anecdotes to keep you entertained, the tour runs for two-and-a-half hours and costs about $38 per person. If you happen to get hungry along the way, there is the option of stopping for refreshments in a communist-style restaurant. Take note, the Trabants have been known to break down along the way—all part of the adventure. See: Crazyguides.com.

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The Savvy Traveler’s Corner

Santa Catalina: Panama’s Pacific-Coast Paradise David DeChambeau

singapore Zoo is one of the few places in the world where you can dine with our great ape cousins.

Breakfast with the “Old Men of the Forest”

veryone loves the novelty of a good breakfast while traveling abroad. New foods to try, different surroundings to enjoy, and maybe—depending on where you are staying—interesting company. If you’re passing through Singapore for instance, you can share your first meal of the day with a bunch of orangutans. The Singapore Zoo offers you the chance to share your breakfast with these “old men of the forest.” For $34 you can feast on a hearty breakfast and sip juice while the orangutans Share food with amble into the zoo’s Ah Meng restaurant from their next-door a bunch of enclosure. Home to the largest orangutans.” social colony of orangutans in captivity, the Singapore Zoo has the world’s most successful orangutan breeding program. For the brave, there’s also the option of a close-up visit with a reticulated python, the longest snake in the world. See: Zoo.com.sg.

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uch of panama’s pacific coast consists of unspoiled beaches and little communities where you’ll find friendly people and small towns offering a taste of the past. here authentic panamanian culture still exists and people treat visitors like welcome guests. One such community is the surf town of santa Catalina. It’s located in the province of Veraguas, about two-and-a-half hours southwest of the city of santiago. Last year, I went on a trip to santa Catalina with my 10-year-old son Jesse. We found a fantastic beach with great waves for surfing, offshore islands with abundant marine life, and access to some of panama’s best fishing waters. We also discovered friendly people and an intimate and inviting atmosphere that made us feel welcome wherever we went. The waves around santa Catalina are some of the best in Central America for surfing. We scheduled a lesson through Rolo Cabins (Rolocabins.net), the hostel where we stayed. More experienced surfers often head for nearby punta Brava, where they find bigger, more challenging waves over a rock bottom. santa Catalina is also a paradise if you like diving and snorkeling. Day trips can easily be arranged with one of the local outfitters through your hotel or hostel. We took a boat trip out to Isla Coiba where we snorkeled, spotting sea turtles and a huge variety of fish, including colorful parrots, several species of angels, and even a school of huge blue surgeon fish. The cost for the trip was $50 each and another $20 for entrance to Coiba Island National park for those over 12 years old. You’ll need to bring your own lunch and drinks. Not surprisingly, there is great fishing in the waters near santa Catalina, too, and the range of species is incredible. Contact santa santa Catalina is a paradise for surfing Catalina Boat Tours for and snorkeling. prices and more details or visit their website at Santacatalinaboattours.com. With all the great activities that santa Catalina has to offer, it’s still a quiet little town with a friendly atmosphere. This is especially true during March through December, which is considered the off season. small hostels and restaurants cater to visitors, with a wide range of lodging and dining options. Our stay at Rolo Cabins set us back $20 a night for a room with twin beds and a shared bathroom. If you’re looking for something with a private bathroom and more amenities, plan on spending around $75 per night. 5

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OFF S HO RE & F IN A N C E

The Great Silver Surprise By Sean Broderick, FreeMarketCafe.com

Development land in Latin America can make you a tidy return if you know how to invest, writes Ronan McMahon on page 26. There’s an untapped opportunity for investment in 10 Southeast Asian countries, writes Sara Nunnally on page 28. 6

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Silver Outshines Gold ETF holdings for silver are near record-high levels, even while those of gold are tumbling 680

ETF Silver Holdings (Millions of ounces, left scale)

ETF Gold Holdings (Millions of ounces, right scale)

610

540

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2011

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million ounces of silver to a bit over 630 million ounces. The forces are clearly in place to push silver higher. n

ThE NExT AppLE…

SELf-DRIVING CARS

Chinese Electronics Set to Take Off

Profit from the Wheels of Tomorrow

ver the last two years, the gold price has dropped 30%, while the silver price has been cut in half. Well, let me tell you, I think both metals are set up to surprise to the upside in 2015, especially silver. Industrial demand for silver keeps ramping up. The Silver Institute, which represents the global silver industry, expects silver demand to grow about 5% per year over the next few years. The biggest growth opportunities are in photovoltaics (solar), automotive and ethylene oxide (EO, an essential ingredient in plastics). Longer term, just in photovoltaic solar panels, demand is expected to rise to 109 million ounces by 2018 from 88 million ounces consumed in 2013. And HSBC forecasts that the supply/demand balance in silver will swing from a 3 million-ounce surplus in 2014 to an 11 millionounce deficit in 2015. A swing from a surplus to a deficit in silver from mines should go a long way toward lighting the fuse on silver’s next big rally. Two large sources of investor demand are as robust as ever: ETF demand here in the States and Indian demand overseas. Both are at record highs…and rising. So far this year, ETFs have added 15

here are plenty of companies that want to take on Apple, but few that are up to the challenge,” writes Global Investment Researcher Sara Nunnally. “But one company is set to do just that: Chinese electronics giant Xiaomi. “Estimates from market research firm Counterpoint Research say Xiaomi’s 2014 revenues could be as high as $12 billion, more than double the previous year’s figure. That’s enough to leap-frog Xiaomi past Samsung to be China’s second largest smartphone retailer, and just behind Apple. “Yuri Milner, an early investor in Facebook and Alibaba, thinks Xiaomi’s valuation could double, too, to $100 billion. “‘I don’t think there’s any company that has reached $1 billion in revenue as fast as Xiaomi,’ Milner says. ‘In every conceivable benchmark, it’s almost unprecedented in terms of its speed of growth.’ “With this kind of potential we may be seeing a Xiaomi IPO in the future. Xiaomi could even challenge the almighty Apple. n

elf-driving vehicles are far from pie in the sky,” writes Matthew Partridge of MoneyWeek.com. “Mercedes aims to sell a fully automated car by 2020. This puts it in front of most manufacturers. And Google also hopes to grab a share of the market. “Self-driving vehicles will be more common on our roads before too long. So what’s the best way to invest? “Daimler (Germany: DAI) owns Mercedes, which is one of the leading brands in the race to dominate this new wave of cars. “Already its luxury models have some of the most advanced driver-assistance systems available, including an advanced cruise-control system that can automatically scan road signs in order to adjust the car’s traveling speed. “Daimler trades on a forward price/ earnings ratio of 10, which looks like good value. And better yet, they should benefit if the European Central Bank does decide to embark on quantitative easing later this year.” n

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IL’s Currency Corner THE DOllAR’S DAyS ARE NUMBERED

By Jeff P. Opdyke, TheSovereignInvestor.com

n the greater sweep of time, the U.S. dollar remains on lifesupport. And that means you ultimately need foreign-currency exposure in your portfolio. The dollar is rising today because fearful investors are simply pushing it higher by way of their outsized demand for greenbacks in a world littered with worries (Russia, China, Greece, the euro zone, Japan, oil prices, the Fed’s next move). Ultimately, all of those fears go away. And when they do…boom goes the dynamite, as they say. The dollar will—will—resume its downward trend. The world’s other currencies will—will—rise in value relative to the dollar (except the yen; but that’s a different story). It’s only a matter of when, not if. Investors who buy foreign currency exposure today at cheap prices will reap the financial rewards. To accomplish that, I recommend you own the EverBank Investor’s Opportunity Basket, a currency CD comprised of the Aussie and New Zealand dollars, the euro and the Mexican peso. All of those currencies have come off sharply against the dollar. All will rebound sharply when the dollar’s time in the sun is done.—EverBank advertises with International Living but Jeff would recommend them regardless.

Mexico is a Buying Opportunity By James McKeigue, MoneyWeek.com

exico is one of my longest running recommendations and 2014 was not a good year. There was a lot of excitement when Enrique Peña Nieto became president. But in the second half of 2014, things started getting complicated. One reason was corruption. Compared to some of his predecessors, Peña Nieto’s corruption scandals are quite tame, yet they have undermined his claim to be a break from Mexico’s usual greedy politicians. High-profile narco-murder cases have pushed Peña Nieto’s approval ratings down to 39%. And that low approval could hit his ability to execute the much-vaunted reforms. It sounds tough, right? Well, the main reason I buy into Mexico has never been the politics. My long-term reason for liking the country is that it’s a manufacturing powerhouse that’s closely integrated with the US and a play on the recovery there. Throw in its welter of mineral and hydrocarbon wealth, and a young and growing population, and it’s clear that Mexico is heading in the right direction. The reforms have been passed, so eventually they’ll start to give an extra boost to the economy. I suggest tracking the Mexbol Mexico is a through an ETF, such as the iShares MSCI Mexico Capped UCITS ETF. manufacturing It’s dropped almost 10% last year. I’d call that an opportunity. powerhouse.”

A $500-Billion Market

Buy Shanghai

Brazil Retail Rebounds

“For the first time ever, Saudi Arabia’s Tadawul Stock Exchange will allow foreign investors to trade Saudi listings,” writes Global Investment Researcher, Sara Nunnally. “The Tadawul is the largest exchange in the region, and from April of this year investors from outside Saudi Arabia and the Gulf Cooperation Council member states can trade on it. “The opening of the exchange could be a bullish sign for financial and consumerbased stocks in the country. That might make a Saudi-based exchange-traded fund very appealing. Once the exchange opens up, we may see an ETF make an appearance. Keep an eye on this space.”

“China—specifically the Shanghai Composite—will be one of the best performing markets this year,” writes Greg Guenthner of Dailyreckoning. com. “And it’s time for you to ride this new wave in Chinese stocks before the rest of the world takes notice.” “The Shanghai Composite is up 60% since July last year. And in November, China opened its exchanges in Shanghai and Shenzhen to the world. The program gives regular investors a shot at mainland Chinese stocks. “This new China connection, coupled with rock-bottom sentiment and some downright terrible economic data, has sparked what is beginning to look like the strongest contrarian trade I’ve seen in years.”

Brazil’s retail sector recorded a strong performance towards the tail-end of last year in the latest sign that the South American giant is starting to recover. Retail sales exceeded all expectations by jumping by 0.9% in November 2014, following on from a 1.3% increase in October. The country is on course to register a 1.2% primary surplus this year and a 2% surplus in 2016, a sure sign that President Dilma Rouseff has stabilized the economy (with the help of a few shrewd ministerial appointments) and set Brazil on the path to consistent growth, a path that—together with its weak currency—could see it yield strong returns for investors.

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Africa Keeps Rising

Sub-Saharan Africa’s economy grew by 4.5% last year, up from 4.2% in 2013, according to the World Bank. And this growth is expected to increase to 4.6% this year, with Kenya expected to be particularly strong on account of its booming tourism sector. The results add more credence to the region as an investment opportunity, with economic growth fuelling the increased purchasing power of the local population. This in turn has generated a massive market for numerous consumer goods that both local and multinational companies are seeking to tap into.

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Lifes tyL e

“We Sold our House, Ditched our Jobs and Took to the Road for a Life of Adventure” By Gigi Griffis

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Betsy and Warren hiked the “Sacrifices sound really depressing to people—and they would have been magnificent Turkish Riviera for us, too, if we didn’t have all these during their epic (and exciting plans,” she says. “In October affordable) adventure. 2010, we knew we were boarding that plane…I was excited about that, so it didn’t feel like sacrifice at the time. We were able to make the saving process into part of the adventure.” “Warren got really good at selling things on Craigslist. He sold a box of random cards for $5. When you see that money come in—$25, $100, $500—you’re thinking that every $100 represents a day of travel. Every time $100 came in, I was more motivated.” And, so, 25 months after the planning began, in October 2010, Warren and Betsy boarded a plane for Ecuador with one-way tickets, a couple of hiking backpacks, and a thirst for adventure. Their first exploit was six months wandering around the Andes, which is how they discovered a shared passion for hiking and also how they lost that combined 85 pounds. After that, the adventures continued. For Betsy, some of the highlights included an eight-day hike along the West Highland Way in Scotland, a 335-mile trek across Turkey, and a two-week

n 2010, after several years of dreaming, planning, and preparing, Betsy and Warren Talbot sold their home, packed a couple of bags, and left the U.S. on a one-way ticket with the intention of traveling the world full-time for five years. Little did they know that their five-year travel dream would become an indefinite adventure, with a sustainable locationindependent income, and a lifestyle full of more freedom and better health than they could have ever imagined. Since hitting the road on that crisp October day, they have picnicked in Provence, fallen in love all over again in romantic Florence, snuck away from the crowds to write and recharge at a 300-yearold farmhouse in Portugal, hiked the 335-mile Lycian Way in Turkey, camped overnight on the ice of Antarctica, learned Spanish in Mexico, and recently bought a house in a small countryside town in the Andalucía region of Spain. They’ve also dropped a combined 85 pounds, and—after years of drifting apart while working crazy hours and trying to keep up with all their home commitments—found the time and space to fall back in love. For this world-traveling couple, it all started in their late 30s when Betsy’s brother had a heart attack, followed shortly by another friend having an aneurism. Both brother and friend were 35—younger than Betsy and Warren. This was the turning point, says Betsy; “We were planning to retire at 50 or 60 and see the world. But then we realized there are no guarantees. We saw all these people around us having health problems and we asked ‘what would we want to do with our lives if we weren’t going to live till 40?’” The next morning, they made a plan and set a deadline. In 25 months, with a budget of $75,000, they would leave the U.S. behind to travel for five years. To get there, Warren put together a budget and the couple started cutting back on non-essentials. To keep their spirits high while making day-to-day budget cuts, Betsy says the trick was staying focused on the right things. MARCH 2015

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“

About six months in we decided to do it full-time.”

tour of Antarctica, where, in Betsy’s own words “we camped overnight on the ice. You could actually smell the pheromones of the fur seals while lying in the tent.” For Warren, their overland trip across Asia, sailing across the Atlantic, and the unexpected time spent in Europe (a continent that they originally thought would be too expensive, and were delighted to find they could also do on a budget) all stood out. With all these adventures, Warren says, the big surprise is that the world keeps expanding before them. “We’ve been to every continent except Oceania and instead of getting smaller, the world just keeps getting bigger for us as we realize there are places we never even considered before. Now, we travel in a deeper way than we thought we would. Even though we’ve been gone a long time, there’s still a lot to see.” For Warren and Betsy, perspective isn’t the only thing that’s changed along this journey. They’ve also found a way to make a living from the road. “About six months into traveling, we decided to do it full-time. We left with the intention of being gone five years and we’d saved more than we thought we would, so we needed to build an income before those savings ran out.” “Now, our revenue comes from books and courses. Everything we do—our website (Marriedwithluggage.com), our podcast, our weekly newsletter, our social media—funnels into that at the end of the day… The idea of writing books actually started in a pub in Scotland. We decided to write books to answer the questions people kept asking us via our website. They asked how we got rid of our stuff, how we saved money.” As soon as that first book hit the shelves, Betsy adds, they were on a mission. They started planning more books to write, courses to offer, speaking engagements to book—and they watched as things slowly and surely grew. Now, almost exactly four years after they left the U.S., the couple is making a sustainable living. In fact, their living has become so sustainable that they recently decided to cash-in their safety net accounts. “When we started traveling, we had several bank accounts—one for our travel budget, one for ‘re-entry funds’ that would give us a year’s worth of financial buffer once we returned to the states and had to get jobs again. Now, we’re moving the money. The travel budget went into our retirement accounts. The re-entry fund money we invested into a house in Spain. So, starting January first, we now have to live off our current income without the safety nets.” Income isn’t the only thing that’s changed for the Talbots in four years on the road. Their way of traveling has also shifted. These days, they travel slowly, spend more time outside, set aside time to focus on projects without distraction, and spend long stretches of time not working at all while traveling or hiking somewhere new. “That’s the beauty of this lifestyle,” Warren says. “There’s not day-to-day balance. Instead, you get to create an overall balance. We can work 10 hours a day for two weeks straight and take a month off to hike in Turkey… While we were in Portugal for seven

YouR New JeT-SeT Life oN LeSS THAN $1,250 A MoNTH 1. Take advantage of flexible flight searches. Sites like Adioso.com let you find the cheapest fares by searching all flights for an entire region, continent, or even the world. A quick search for one-way tickets from New York to anywhere in South America in May 2015 turns up ticket prices as low as $186 to Colombia, $202 to Panama, and $207 to Aruba. With these prices (assuming one international flight every couple months, plus some smaller trips and overland travel), a couple could easily keep to a $400 monthly transportation budget. 2. Housesit for free accommodations. On sites like Trustedhousesitters.com and Mindmyhouse.com, you can find free accommodations all over the world in exchange for taking care of someone’s home. 3. Stay longer and save. Not only will staying in one place for a week or longer enrich your experience and save money on transportation, but many apartment rentals and hotels offer weekly or monthly discounts. A quick search for monthly pricing in Ecuador and Panama on Airbnb.com shows a variety of nicely furnished apartments priced under $600 per month. Secure housesitting assignments for half your travels and use long-stay discounts on the rest and your monthly housing budget could be as low as $300 (just $3,600 per year). 4. Get on an expat health plan. Companies like International Medical Group (IMG) offer worldwide-coverage health plans that start at just $1,500 for the year. With a monthly budget of $400 for transportation and $300 for housing, all that’s left to factor in is food, supplies, and fun. Monthly groceries can easily be covered in places like Mexico for under $300. You could eat out several times per week and treat yourself to coffees and snacks along the way for $400 per month. The rest of your budget should go toward whatever you find fun—be it museums, theater, wine tastings, wilderness treks, or yoga on the beach. Betsy and Warren budgeted $100 a day for their full-time travel adventure. That’s $36,500 a year, around $3,040 a month. But travel—especially in place like Asia and South America where the dollar is strong—turned out to be even cheaper meaning they spent $15,000—just $1,250 a month.

weeks, Betsy wrote most of a book and we launched a new course. Now, returning to Spain for a while, the book is finished and we can lower our hours and spend more time outside.” “I think you’re truly rich when you can do what you want to with your time,” Betsy adds, “I may not have millions in the bank (yet), but being able to wake up when I want to, set my own projects, and do and see what I want—that’s an incredible gift.” n MARCH 2015

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Re Al e stAte

Bargain Buys in Apulia, Italy’s Sun-Kissed South By Steenie Harvey

“There’s plenty on the market for under $113,000.”

APULIA

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A labyrinth of medieval streets, alleyways, and piazzas, its compact historic center has been noted for its cartapesta (papier-mâché) workshops since the 1700s. Craftsmen still produce saints and crib scenes to this day. A 645-square-foot apartment in “new” Lecce will cost you €53,000 ($59,900) through Vitale Immobiliare (Vitaleimmobiliare.it). Studio Sant’Alfonso of the Tecnocasa network (Tecnocasa.it) has a bijou 860-square-foot house in the historic center, for €55,000 ($62,200). Another Tecnocasa agency, Studio San Fabrizio, has a refurbished studio (430 square feet) near the main square and its Roman amphitheater for €45,000 ($50,900). A more sizable apartment, with 1,021 square feet of living space next to San Matteo church, is €160,000 ($180,900). Tecnocasa also handles rentals. Studios for students and minimalists start at €330 ($373) a month. Most one- and twobedroom apartments are in the €450 ($509) to €600 ($680) per month range. Trulli Country and Beyond As soon as you see Ostuni, no explanation is needed to why it’s called La Città Bianca—the White Town. Below towering stone churches, almost every little house sparkles white. Clamber up to the Duomo (Cathedral), and the town’s walls give a glorious lookout over olive groves to the blue Adriatic. From a lofty pillar on Piazza della Libertà, a statue of Sant’ Oronzo guards Ostuni from the plague— he reputedly saved the townsfolk from an outbreak in 1657. With the beaches of Marina di Ostuni

hat’s the first place you but almost everywhere else it was only 85 think of when Italy is cents to $1.20. mentioned? Chances are If you need more reasons to take a look, it’s not Apulia (Puglia, in the region is a foodie’s dream. Based on Italian), the region that traditional recipes and seasonal produce, forms the heel of the Italian boot. But after Apulian cuisine is highly affordable. Pizzas visiting the region last year, I want to sing its from wood-fired ovens are scrumptious praises from the rooftops of so many places. anywhere in Italy, but here you’ll only pay Ostuni…Gallipoli…Martina Franca. As for around $6. And you can eat exceptionally lovely Lecce, with its baroque buildings well for around $25, including wine. (Don’t of creamy golden stone and gloriously miss trying the Primitivo and Negroamaro flamboyant carvings, I didn’t want to leave. reds.) From Martina Franca’s capocallo Singing from the rooftops sausage to Gallipoli’s red of Apulia’s fairytale trulli gamberoni rossi shrimp and homes would be physically Galatina’s pasticiotto custard difficult—these beehivepastries, you’ll encounter shaped rural houses are taste sensations unlike those topped by peculiar conical anywhere else. domes—but you get what I spent most of the trip I mean. You need to go. in the Salento, the name And go before everyone else given to the southern half of discovers the low-priced properties they’ve Apulia. The transport gateway to this area is been missing. There’s plenty on the market the Adriatic port city of Brindisi. Its airport for under €100,000 ($113,000). In many has regular flights with budget carrier places, one-bedroom apartments mostly rent Ryanair to Rome Ciampino Airport. My for less than $500 a month. round-trip ticket cost just over $42. Combining rustic charm with sunFor the best of city life, head to Lecce. drenched romance, Apulia has everything Due to its wealth of baroque churches that makes Italy so alluring for starting a and palaces, it’s nicknamed “the Florence new life, purchasing a second home, or of the South.” A 25-mile train ride from renting for an extended stay. It’s unspoilt, Brindisi, it’s an artsy university city with a laidback, and endearingly eccentric. bewildering choice of bars and restaurants. Apulia has numerous sandy beaches on Home to around 96,000 people, Lecce two coastlines, the Adriatic and the Ionian. successfully combines an antique core with In between, the land is mainly agricultural, attractive public gardens and new zones. with vineyards, wheat fields, and vast expanses of silvery olive groves—around 60 million olive ITALY trees in total. Taking in a feast of Apulia baroque and medieval oddities Foggia Bari along the way, the history of many towns goes back to Roman and Greek times. Ostuni Brindisi Another bonus: Living costs are Martina Franca way lower than in the more heavily Lecce touristed (and industrialized) north and central regions. I couldn’t beat Gallipoli the 60 cents I paid for morning coffee in the port city of Brindisi, MARCH 2015

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You’ll find that seaside towns like Gallipoli in Apulia have plenty of affordable real estate to offer.

less than five miles away, Ostuni town turns into a vacation hot-spot in summer. Maureen and Alanna from Elite Puglia took me to see an unrestored monolocale (a studio-type property) that recently sold for €25,000 ($28,300). As it hadn’t been used as living accommodation for 40 years, it was a fixerupper—but around €15,000 ($16,990) will do the job. Finding something similar in the €20,000 to €30,000 ($22,650 to $33,975) range is getting more difficult: They’re quickly snapped up for investment by young locals. At the height of summer, vacationers often pay €90 ($102) a night to rent them. Elite has a restored monolocale with separate bathroom for €58,000 ($65,700). A small (591-square-foot) one-bedroom house, with a mezzanine for extra sleeping space and a roof terrace for soaking up the sun, is €72,000 ($81,560). Just outside Ostuni, the trulli landscape and rich red earth of the Itria Valley begins. The word trullo (trulli in the plural) derives from the Latin trullus, meaning a domed room. One cone, two cones, three cones, four—trulli come in all sizes. Many owners maintain the tradition of painting the conical roofs with magical symbols relating to ancient fertility practices. Trulli central is the village of Alberobello, which became a UNESCO World Heritage Site in 1996. Tiny, unrenovated trulli (and some are very tiny) start at around €40,000 ($45,000), with restoration costs averaging around €15,000 ($16,990) per cone. As with any property, price depends on the amount of land, as well as proximity to the coast. Trulli also have great potential in the vacation-rental market.

Not far from Ostuni and set among olive groves is Trullo Caterina. It’s a restored two-bedroom trullo home with 753 square feet of living space, views of the Adriatic, and two-and-a-half acres of land planted with 30 olive trees and various fruit trees. The price was €165,000 ($186,900), but properties are often trattabile, the Italian word for negotiable. You could probably purchase it for nearer €150,000 ($169,900). It doesn’t have a pool, but you could easily install one. Typical cost for a 16- by 32-foot pool is €24,000 ($27,200). Including two acres of land planted with olive, almond, and fig trees, another trullo property on Elite’s books is €75,000 ($84,900). However, there are no sea views and it’s hobbit-size. (And a very small hobbit, at that.) Consisting of one room and two alcoves, the three-coned trullo that serves as a bedroom measures a mere 215 square feet. Unless you’re an ultra-minimalist, it’s probably too small for a permanent home, but—like all trulli—it could make a great vacation rental. Closer to Martina Franca, a habitable four-coned trullo, plus lamia and land of around two acres, is on the market for €115,000 ($130,200) through Gruppo Invest d’Amico. Martina Franca is a little baroque gem of a town, complete with a warren of alleyways and piazzas.

It’s not all trulli in this area, though. With approximately 1,612 square feet of living space, Villa di Capo has been reduced from €350,000 ($396,400) to €295,000 ($334,100). The villa is now perfect to move into; it has a pool, walled patio area, enclosed verandah for extra living space, an annex, 1.25 acres planted with olive trees, and a panoramic view of Ostuni. A little farther from Ostuni, Villa d’Oblo is a 1,500-square-foot home with a wide verandah for al fresco dining and an acre of land. It’s priced at €90,000 ($101,900, see: Elitepuglia.com). On Apulia’s Ionian coast, the fishing town of Gallipoli derives its name from the Greek for “Beautiful City.” It has brightlycolored boats and fishermen mending their nets below fortified walls. It has a fish market with delights such as ricci (sea urchins), oysters, and those famous red shrimp that get cooked in a crust of sea salt. Factor in the Spiaggia della Purità beach, a modern zone for shopping, and a host of bars, restaurants and cafés, and it’s easy to see why Italian visitors flock here in summer. Studio Gallipoli of the Tecnocasa network is in the new part of town. Ask for Marco, who speaks English. About €100,000 ($113,000) buys a restored cutiepie of a house (752 square feet) in the heart of the centro storico (see: Tecnocasa.it). n

Tips to Find a Good-Value Rental

enting long term generally means signing a lease for at least a year. The choice is far greater in cities such as Lecce and Brindisi than in smaller towns. But that’s not to say you won’t find anything outside the cities. Among the best property portal sites serving the region are Casa.it and Immobiliare.it. These give links to numerous rental agencies in Apulia. Casa.it is in Italian, but it’s very easy to navigate your way around. The tab for rentals is affito. If you’re seeking a furnished property, the word to note is arredato. One of the leading real estate agents in the area is Salento Casa Immobiliare (Salentocasaimmobiliare.com). One property on its books is a 752-square-foot furnished

house with a patio and garden. It’s at Torre Guaceto, just over two miles from the sea. Monthly rent is €600 ($680). In Brindisi itself, a spacious 1,612-square-foot furnished apartment with parking space is €700 ($792) a month. Although vacation rentals are much more expensive, some property owners offer a discount on rentals of a month or longer. As the UK is the main Englishspeaking market, it’s worth checking out British sites such as Holidaylettings.co.uk. I looked for a three-month stay from the beginning of February to the end of April. One-bedroom apartments with central heating, air conditioning, TV, and WiFi in Lecce start at €2,722 for a three-month stay. That works out to $1,026 a month. MARCH 2015

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LIVING TH E D R E AM

A Fairy-Tale Retirement in Old-World Europe “I Have a Gorgeous View of the Mountains and the Beautiful Villages” Names: Diane and Doug Jones Ages: 64 From: Oregon Living in: Calabria, Italy

For as long as they could remember, Doug and Diane Jones’ retirement dream had been a small organic farm in the Oregon wilderness… So it came as a surprise when, nearing retirement, they realized that they were tired of working sun-up to sundown on the farm and a new and unexpected retirement dream—of living in sunny, rural, authentic southern Italy—had taken its place. “We worked most of our lives because we didn’t come from money and we had to work for it. We always spent our vacations visiting family—you know, the guilt-trip thing. We never took trips abroad. We were too poor in both vacation time and money.” “Then, in 2005, we took our first trip to Italy and we were charmed, especially by southern Italy, which is Old-World Italy— still very, very Italian. It knocked our socks off with charm… Our trip was in 2005 and over the next couple years, we decided that’s where we wanted to retire. We bought a 15,000 square-foot home in the village of Santa Domenica Talao for about $123,000 and spent a year restoring it. And we moved in 2010.” The cost of restoration was around $291,000. Four years later, Diane says their life is very different, full of the slow and steady progress of their Italian language skills, long walks to the piazza, along the beach, or up the nearby mountains, early morning cups of wonderful Italian espresso and international newspapers, daily coffees by the sea with local friends, and a buzzing social life. And all of it is shockingly cheap. “I still can’t get over how much less we spend here. A beautiful cup of coffee is less than a dollar. You can go out for a beautiful multi-course meal for $35. For health care, we pay $236 a year to cover everything.” “And some things are even free. Every 12

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person in town has a plot where they grow things, and they come and knock on your door and give you tomatoes and things— whatever is in season. I buy figs at the local market and my neighbor is shocked that I would ever buy figs.” Then there’s the scenery. “Every time I walk out on my terrace, I have a gorgeous view of the mountains, the sea and the beautiful villages,” says Diane. “It’s wonderful for the eye here. If you are from a city, you’ll be blown away.”

“I still can’t get over how much less we spend.” And there’s just something about the people here. “Most people have this openheartedness that’s hard to describe,” says Diane. “It’s as if they feel more like smiling and thinking of the good things in life and enjoying their lives than dwelling on grievances. Happiness is more important here.”—Gigi Griffis.

“You Don’t Need a Lot of Money.”

Names: Barrie Garfinkel and Jennifer Greco Ages: 74 From: New York Living in: Normandy, France For Barrie Garfinkel, the dream of living in France started with his wife Jennifer—a chef, cheese-expert, and passionate Francophile—who suggested they spend their honeymoon in the LanguedocRoussillion region in the year 2000. “That was my first experience of France,” Barrie says. “My wife lured me in with how nice it all was.” Three years later, after Barrie retired from his long career in IT, the couple moved across the Atlantic and settled into a home in southern France: “We bought a house in Cesseras in southern France. It’s a village of just 409 people with eight wine

makers—a wine maker for every 50 people. “The village was fantastic. The French people were warm and welcoming. They loved Jennifer and our two Chihuahuas. We had English friends to go out with. I played and taught bridge at a French and English exchange. We were always invited to parties and street festivals and the homes of the winemakers. And I had a radio show at Radio Marseillette [a local station]. I played blues and it was the only English-speaking show in the south of France.” When asked his favorite part of retiring in France, Barrie starts by talking about the wine… “In the south,” he says, “we’d bring a plastic container to the winemaker’s place and they’d put it against the wall with a spigot and wine would pour in—for just over $1 per liter. Wine is so cheap… We didn’t have a lot of money, but we were having a good time.” Even though they loved living in the south of France, a few years later, when Jennifer decided to go back to work, the couple moved to Normandy—a place where she could easily find concierge work and the couple could continue living a countryside life. “Here in Normandy, I live my life very quietly. When Jen’s here, we’re constantly babbling. We take care of the dogs, have a big lunch at about one, and eat a light dinner at eight or nine. I’m a baseball freak, so I watch major league baseball online. Sometimes we go out with the neighbors. I’m very happy. “I tell everybody that this is the best country to retire to… For people living on fixed income, this is it,” he says. “Because of the health system here, you don’t have to choose between putting food on the table and buying medicine. I have my regular doctor, pills I take every day for arthritis pain, blood pressure, etc. I had a hip surgery done in the south of France. It was the best service I’ve ever had—and it cost us less than $12 thanks to the French system (compare that to the $90,000 it costs in the states).” “So, I say retire in France. You don’t need a lot of money. We’ve proven that. Our monthly budget is around $2,200. Just buy your house so you don’t have to rent. Buy a car in the states and ship it over (I shipped mine from the west coast to Antwerp for just a couple hundred dollars), since that’s much cheaper than buying it

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sometimes referred to as the “Heart of Europe,” Prague in the czech Republic is where Janice Woodard found an affordable Old-World home. here. And get on the French health care system, with a complémentaire (an optional add-on to the standard French healthcare plan that covers all drugs).”—Gigi Griffis.

“Being an Expat is a Way to Live a Special Life.”

Name: Janice Woodard Age: 59 From: San Diego Living in: Prague, Czech Republic

After eight years in Italy and Germany, where her husband worked for Radio Free Europe, Janice Woodard and her family tried to move back to America…but it just didn’t feel right. “We moved to the U.S. for a year—but we didn’t feel good there anymore. We tried to start a business and find jobs, but the efforts were halfhearted.” “Back in San Diego, my school friends had gone their separate ways and I didn’t have much in common with them anymore. In Europe, we had this community of expats…and I missed that. Being an expat is kind of a way to be special—to live a special life, something out of the ordinary. I missed that when I was in the U.S. for a year. So

“You can purchase a four-bedroom home for less than $200,000.” we decided to come back to Europe and live in Prague.” Back in Europe, Janice felt happy and at home. She started teaching English and coaching tennis. Her husband went back to work in radio. And her nearly grown sons attended an impressive international school. Her days are full. “I play tennis and run errands and teach a couple of English language groups each day. I live one block from a gorgeous forest called Divoka Sarka—which is full of rock outcrops and a stream. I take the dog up there for a while each day.” “My favorite thing is when we have visitors and take them downtown. You just see the city through their eyes—and it’s such a beautiful place. Any time of day, walking across the Charles Bridge and having a nice meal in a restaurant—you just

think ‘how lucky I am to live here!’ It’s a fairy tale. It takes your breath away.” Plus, the city is great for retirees, says Janice, whose husband is nearing retirement. “The public transportation is great. If you have a little apartment downtown, you can get to the opera, the cinema, anywhere. With the health care system here, you’ll be taken care of for the rest of your life once you have the right visa. And as an Englishspeaking expat, there are libraries and bookstores and a good community.” Janice doesn’t really worry about budget living in Prague. A single public transportation ticket costs about $1.30, a one-year unlimited pass is less than $200, and seniors (65+) travel free with a special card. A lunch menu will run you about $6 and a more standard meal in a restaurant costs $10. And right now, you can purchase a four-bedroom home with a yard in Prague west for less than $200,000. “I go to the grocery store once a week and spend about $80 for a family of four— and that’s without watching my pennies at all. And if I have to get a prescription here, it’s so cheap that I don’t even bother to try to get reimbursed.”—Gigi Griffis. n MARCH 2015

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H e AltH C AR e

Low-Cost and Personal: The Pleasant Truth about Health Care in Ecuador By Wendy DeChambeau

ach morning Tennessee natives Bobby and Becca Vines are greeted by views of two stunning volcanoes. Small-town life in Cotacachi, Ecuador, is never dull, and the couple spends their days viewing international films, enjoying live music, and visiting with the locals. Bobby and Becca spent much of their lives devoted to educating Tennessee schoolchildren. But as retirement neared, the couple knew their teachers’ pensions wouldn’t be enough to allow them to continue living comfortably just outside Nashville. “We considered various U.S. locales, but we also decided to broaden our search to other countries. We read about Ecuador and started poking around the Internet. Then we thought, ‘Let’s see if we can do this,’” says Bobby. “We were in the midst of planning an exploratory trip when we received news that Becca’s brother and his wife, who are

missionaries, were being transferred from Bolivia to Ecuador’s capital city of Quito,” says Bobby. “It was really serendipitous,” Becca says. Their initial exploration also became a small family reunion, and it didn’t take the two long to realize that Ecuador— and, more specifically, Cotacachi—was the place for them. “Cotacachi is just so friendly it will spoil you,” says Bobby. “I never think about the temperature anymore,” he adds. “This mountain climate suits me fine, where the nights are cool and the days are pleasant, whether cloudy or sunny. If I want to go for a run, I don’t have to do it before sunrise to avoid heatstroke.” The couple arrived in Ecuador in September 2013 and rented a comfortable three-bedroom, chalet-style house, giving them extra room for guests and a music studio for Bobby. Their landlord’s garden in the back yard overflows with veggies, fruits, and herbs, and the pair are often on the receiving end of the surplus. Their

What are Your Health Insurance Options in ecuador?

etirees in Ecuador have several choices for health insurance and you should carefully weigh all options to determine what is best for your lifestyle. Here are a few examples of what types of insurance are available and utilized by other expats. travel Insurance. If you will only be in the country for a shortterm you may want to keep your existing health insurance in the U.S. and buy additional travel insurance. There are many options in this department, but try starting with Insuremytrip.com and Squaremouth.com for an idea of what’s out there. Both sites offer filters to make choosing a customized plan easier for you. Social Security Insurance. If you plan to be in Ecuador on a permanent basis local health insurance is available through IESS, the national social security program. For a relatively healthy person the cost is around $70 per month and is the most economical option available. The IESS clinics are best in larger cities like Quito, Cuenca, or Guayaquil where more specialists within the system are located.

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total housing cost, including utilities and Internet, comes in at just $575 a month. “The low cost of living meant that, not only could we live well, but we could even retire early,” says Becca. The Vines are an active pair, and soon after arrival their thoughts turned toward seeing more of their new country. “We bought mountain bikes, we love hiking, and we really wanted to get out and explore,” Becca says. Shortly after arriving, they took a trip to the Amazonian town of Tena, where Becca broke her leg. “It was night, it was dark, and I just stepped in a hole,” she explains. “We went to the hospital in Tena, where staff X-rayed Becca’s leg and explained what needed to be done,” says Bobby. “Realizing that she would need surgery, we opted to transfer to a private clinic in Quito the next morning. When we asked how much we had to pay for care at the public hospital in Tena, we were told there was no charge. All services—

Those in decent health can save quite a bit of money over private insurance by using IESS. But inadequacies in the public system mean you’re probably best leaving it for routine things like vaccinations and boosters, which are free. Private Insurance. If you have ongoing medical conditions or want more extensive coverage than what the IESS system provides there are several private health insurance companies to choose from. Cruz Blanca, FOPS/BMI, and Salud are several of the private insurance companies expats use in Ecuador. The cost will be considerably more than IESS insurance, but the coverage is also more extensive and this is the route you should take if you have any serious health concerns. Besides increased cost, the downside is that some private companies will not accept new enrollees over the age of 65 and your coverage may decrease as you age. Be sure to look over the details carefully before choosing a policy. For more information you can visit Cruz Blanca’s website at www.Cruzblanca.com.ec and Salud can be found at www.Saludsa.com.

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Ecuador’s most popular retirement destination is Cuenca, where expats report excellent and affordable health care is available. so that was another small surgery,” Bobby including X-rays, doctor’s care, pain says. Becca was also given orders for daily medication, and an overnight stay—were physical therapy in Cotacachi. As luck free,” says Bobby. (Public health care in would have it, the therapy center is right Ecuador is basic. It is, however, available around the corner from their house, and free of charge to everyone in the country, the charges for her therapy run a mere $2 whether you are a citizen, resident, or per day. simply a tourist passing through.) Because Becca’s accident occurred When they reached Clínica Pasteur in before she obtained her Ecuadorian Quito, they were delighted at the level residence visa, she wasn’t yet eligible for of service. “My nephew is an orthopedic Ecuadorian health insurance. So her U.S. surgeon in the U.S. and everything they insurance paid for the medical bills. (With were doing here was exactly what he would her new Ecuadorian insurance, the hospital have done. We were sending X-rays to bill would have been him on the phone.” In paid in full, with no addition, “She had a co-pay.) Even so, the private room, everything Vines were surprised was clean, the nurses to learn that the total were very attentive, and All services— cost of both surgeries, her doctors would come in a couple of times a day including doctor’s plus many follow-up appointments, amounted to see her,” says Bobby. care—were free.” to less than $7,000. “It “It was way more was $90 per night for attention than you would the hospital stay and the charge for the get in the States,” says Becca. “Except operating room was $1,500. You just can’t they would just leave you alone at night to argue with those prices,” Bobby says. sleep,” she laughs. “The whole point is that “A couple of months before we left every bit of it was a good experience!” the States, I went to the emergency room “We went back in two months and they when I had a bike wreck,” recalls Becca. took some of the hardware out of her leg,

“

“I was there five hours and they did X-rays, gave me some pain medicine, and assured me nothing was broken. Just that little experience cost $4,500. It cost the same amount as my first leg surgery in Ecuador!” Always ones to look on the bright side, they’ve found the silver lining in Becca’s temporary health setbacks. “There was a blues concert in Quito and we wanted to go to that, but Becca was on crutches and we didn’t know what to expect,” relates Bobby. “There was this long line of people waiting to get in. We stood there waiting, when the people insisted that we go to the front. The lady inside opened the door and we sat down 20 minutes before anyone else was let in.” This special treatment also came in handy while going through the visa process, when they were again instructed to head to the front of the line because of Becca’s need for crutches. So how does the couple feel about their time in Ecuador? “We’re really happy and we feel really comfortable and good about every decision we’ve made,” says Becca. “Even when I broke my leg and I was lying in the hospital, I thought, ‘I don’t even care that I have a broken leg—I’m so happy to be here!’” n MARCH 2015

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The Stylish Pearl of Colombia’s Coffee Region By Michael Evans

ophistication may not be the first word that springs to mind when you think of Colombia. But Pereira, at the heart of the country’s coffee triangle, is one of Latin America’s most stylish cities. Pereira is prosperous and you’ll find gleaming glass apartment towers, high-rise office buildings, chic, modern architecture, and venerable colonial buildings. The abundance of students attending the many universities gives the city a youthful vibe. Because of this, Pereira has some of the best nightlife in the region, and thanks to the multitude of clubs and theaters featuring operas and concerts of all kinds, there’s always plenty to do. With the Andes at your doorstep, there are also plentiful opportunities to immerse yourself in the great outdoors. A burgeoning medical tourism industry is attracting patients seeking high-quality, low-cost eye surgery and dental treatments. With newfound riches has come an air of sophistication, spurring a fledgling tourism market and attracting expats from North America and Europe. “We thought Pereira would be a perfect place to start a travel agency because it’s in the middle of the country—the most beautiful region—and because it’s a perfect place to start a tour of Colombia,” says expat Benita Glück, co-owner of Cafetero Tours. “I think Pereira is the best city in Colombia. It’s my ideal city.” Pereira is home to around 500,000 people. At an elevation of 4,600 feet, it has a warm climate, with an average high of 80 F and an average low of 62 F. Humidity hovers around 76%. The city has five malls, including Parque Arboleda, located along the Circunvalar. Colombians rate a city’s sophistication by whether or not it has a Crepes & Waffles restaurant or Zara department store. You’ll find both in Parque Arboleda. Arboleda also has a pharmacy, a car dealership, bank branches, a multiplex cinema, a sporting goods store, computer and electronics shops, boutiques, department stores, and a food court. As a department capital, Pereira has a bevy of well-equipped clinics and hospitals. For serious injuries and illnesses, many expats turn to Clínica Los Rosales, which can handle high-level healthcare needs such as cancer treatments and heart surgery. After obtaining a temporary residence visa,

you can qualify for Colombia’s national health insurance program. However, Colombia’s health care costs are so low that some expats choose to pay out of pocket. Pereira’s bus terminal offers service to destinations throughout Colombia. Matecaña International Airport offers connections to major cities all over Colombia and direct flights to Panama City, Panama. Last year, Avianca Airlines introduced a new direct flight between Pereira and New York City. Pereira’s food scene, which offers both traditional Colombian fare and international cuisines, is growing by leaps and bounds. For lunch, I often head downtown to dine at the expat-owned La Grand Place, which serves

“The many universities give the city a youthful vibe.”

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As well as stunning buildings like the Our Lady of Poverty Cathedral, prosperous Pereira boasts terrific nightlife and a thriving food scene.

delicious European dishes and sinfully tasty Belgian desserts. At night, I stop by Aly Torres Restaurant for a plate of Peruvian ceviche, a gourmet hamburger, or spaghetti Milanese. The Best Places to Live Pereira’s best neighborhoods lie on the town’s east side, near the bus terminal and close to Highway 29, which connects to other Coffee Triangle destinations such as Salento and Manizales. Along Avenida Circunvalar, Pereira’s main dining and entertainment drag, new high-rise apartment buildings tower into the sky. Their bright white facades, large balconies, and picture windows give the area a Miami Beach feel—minus the beach. Along side streets, you’ll find stately older homes, many of which you can pick up for a song. Just ask expat Daniel Bennekers and his girlfriend Alexa Idárraga, who purchased a house located steps from the avenue. “We were able to buy it for around $200,000,” Daniel says. “The house has about 11,000 square feet. It has 27 rooms, a three-car garage, two balconies, three patios, two terraces, six bathrooms, five kitchens, and two separate apartments.” Although Daniel and Alexa weren’t in the market for a house, they couldn’t pass up such a sweet deal. After investing another $25,000 in renovations, they turned the home into a hotel, called Kolibrí Hostel, which now ranks number two on TripAdvisor’s list of specialty lodgings for Pereira. “When the inspector from the bank looked at the house, we were very worried, because we were taking on so much debt to buy it,” Alexa says. “But the guy said, ‘Do it. The price is so cheap and you can double your money later.’” In the nearby Los Alamos neighborhood, you’ll find detached homes that range in size from three to five bedrooms, and numerous gated townhouse communities. While many Los Alamos homes cost $150,000 to $250,000, you can also find a large selection of threebedroom houses and townhouses for $80,000 to $100,000. Twenty minutes from downtown, the Villa Verde development offers three- and four-bedroom townhouses starting at $58,000. Villa Verde is a self-contained community, with a small shopping center and supermarket. The developer designed the townhouses as starter homes for first-time homeowners, but the properties have quickly increased in value—up more than 50% in the past year. Whenever you move to a new country, it’s best to rent a home or apartment before investing in your own property. Threebedroom apartments in the Circunvalar area start at around $350 a

WHAt to Do in PeReiRA

t would take a lifetime to enjoy all the natural and cultural attractions Pereira has to offer. Founded in 1917, Pereira’s symphony orchestra performs at carnivals and festivals and presents monthly concerts in the Santiago Londoño Theater. The Chamber of Commerce sponsors an annual film festival and the Institute of Culture and Tourism hosts free dance and musical events. Exploring Pereira’s downtown is the best way to get acquainted with the city’s history. A handful of beautiful colonial buildings remains, and many of these now house bars, restaurants, and shops. On the opposite side of the plaza stands the Cathedral of Our Lady of Poverty. Built in the early 20th century, this stunning church has an unusual metal adobe facade and a stunning interior that features a wood-joist ceiling. Colombia has the largest number of bird species on the planet, and the Risaralda department is a bird watcher’s heaven. If you’re a passive bird lover, simply set out a bowl of seeds or a peeled banana on your balcony and sit back and enjoy the show. For a more in-depth study of Colombia’s feathered denizens, you can take a six- to 15-day bird-watching tour with Birding Tours Colombia (Birdingtourscolombia.com). The Technological University of Pereira owns and operates Pereira’s Jardín Botánico, a spectacular 31-acre botanical garden with bamboo forests, lagoons, and rare plant species from all over Colombia. Colombians are avid bicycling enthusiasts and the Risaralda department is a mountain biker’s paradise. After 20 minutes of pedaling, you can escape to the countryside, where you’ll find dozens of rural roads and forest trails to explore. RetroCiclas MTB Bike Tours (Retrociclas.co/) offers guided city tours and multi-day adventure tours through the Coffee Triangle and Los Nevados National Natural Park.

month. Comparable Los Alamos homes range in price from $425 to $650. If you’re on a tight budget, you can rent a Villa Verde townhouse or apartment for as little as $250 a month. Pereira’s cost of living is low to moderate, depending on your lifestyle. A couple could live comfortably on $1,200 a month. A menú del día lunch costs $3 to $5 and a three-course dinner typically costs $10 to $20. You can buy a liter of milk and loaf of bread for under $4, catch a movie for less than $5 and enroll in a gym for $50 a month or less. In most middle-income neighborhoods you’ll pay around $100 to $150 a month for gas, electricity, and water, and about $50 to $75 for an internet, phone, and cable package. Local bus fare will set you back less than $1. Most in-town taxi fares are $2 to $3. You can travel by bus to Bogotá for $20 to $25, or you can catch a flight to the capital for as little as $35 each way. n MARCH 2015

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The Finest Neighborhoods in Ecuador’s Convenient, Colonial Capital By Edd and Cynthia Staton

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here’s a lot to love about Quito, Ecuador’s capital city. Low cost of living, consistently excellent weather, amazing dining options, the best health care in the country and cultural amenities everywhere you look. Since moving to Ecuador, my wife Cynthia and I have had opportunities to visit Quito many times for business and pleasure. And we’ve been fortunate to meet good friends there who really know their way around. With each visit, the city has revealed more of its many charms to us. Quito is a truly wonderful place—one certainly worthy of serious consideration as a place to live. Quito sits on a long, narrow north-south plateau in the upper Andes. At an elevation of 9,400 feet, it is the highest capital city in the world. In many parts of the globe that would translate into some pretty nippy weather, but because the city actually straddles the equator the temperature is amazingly Quito is home to one of the best-preserved colonial centers in Latin America. You can pleasant. (You’ll find a monument here where you rent here for as little as $500 a month. can stand with one foot in each hemisphere.) Because of its large, well-preserved historic district, in 1978 Quito was named the first UNESCO World La Carolina: Stylish, Modern and Convenient Heritage Site. Cathedrals, museums, and lovely parks fill the Old The centerpiece of this burgeoning downtown neighborhood Town area. And any visit to Quito must include a stop at La Mariscal, is a sprawling 165-acre park right in the middle of the business and a vibrant entertainment district of restaurants, bars, discos, and shops. financial district. Young professionals tend to gravitate to this area, Quito and its surrounding valleys boast an impressive array and many condos are purchased as investment properties that are of lifestyle options to suit every budget. There’s simply more of rented to embassy employees and oil company executives. everything—restaurants, shopping, health care, culture—than you La Carolina represents convenience on steroids. Large malls can find anywhere else in Ecuador. Add to all this with a low cost of anchor both ends of the park (Quicentro on the north side, the living plus weather that ranges from great to fantastic and you’ve got city’s largest, could more accurately be described as “massive”). an unbeatable combination. You’ll find some locals that speak good Public transportation, a Megamaxi (think Home Depot and Super English (especially in tourist venues), so if your Spanish isn’t stellar Target under one roof), tons of stores and restaurants are all within you won’t feel stranded. a stone’s throw. The move of the international airport to a new location outside Living in Quito the city has allowed for the modification of building and height Quito has always had an active expat community. Many restrictions for the downtown area. Today, you’ll find something executives from international companies (especially those in the oil of a building boom in this neighborhood with modern high-rise industry) live in Quito and the valleys. And as the country’s capital condo towers everywhere you look. Many offer large fitness centers, city, this is where you’ll find all the foreign embassies. Their staff swimming pools, concierge services, and more… members, too, live in Quito, lending the city an international flair. But convenience doesn’t always come cheap, and La Carolina Today, a growing number of foreign retirees call Quito home, boasts some of the highest real estate prices in Quito, typically a attracted by all those incentives already mentioned…primarily great $200+ per square foot price tag. Rentals carry a higher price tag weather and instant access to a wide variety of cultural activities. And as well. A 1,450-square-foot furnished three-bedroom, threefor all its cosmopolitan offerings, Quito is surprisingly affordable. bath apartment with balcony goes for $1,300 per month. A larger Here is a flavor of Quito’s most desirable neighborhoods for full2,000-square-foot unfurnished unit with three bedrooms and twoor part-time living… and a-half bathrooms, rents for $1,500 per month. MARCH 2015

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Quito Tenis, El Bosque and Bellavista Quito Tenis and El Bosque (west) and Bellavista (east) sit atop opposite ridges above the city, yet they share many similarities. All three appeal to middle-class residents, although Quito Tenis boasts more “up-and-coming” young families living in gated communities or modern mid-rise buildings with great views of downtown. Metropolitano Hospital, the most advanced medical facility in Ecuador, a performing arts center, and a large archaeological park are all reasonably close. Adjacent El Bosque offers similar housing options as Quito Tenis with the added advantage of a nearby shopping center containing a Supermaxi grocery store plus the upscale Sukasa for home goods. A protected forest area at the base of Pichincha volcano (active but the last serious eruption was in 1660) offers outdoor recreation activities. The major downside of living here is steep topography. The Bellavista neighborhood runs along the city’s eastern ridge, and includes the 1,500-acre Parque Metropolitano, which attracts 20,000 to 30,000 nature lovers and sporting enthusiasts every weekend. It’s the largest urban park in South America. (For comparison, New York’s Central Park is just 834 acres.) Otherwise, Bellavista is primarily a residential neighborhood. The exception is Avenida General Eloy Alfaro, with a host of fairly upscale restaurants and shops. This avenue is the dividing line between the Bellavista and La Carolina neighborhoods. While there are good public transportation options in the city and private taxis are affordable (rarely will you pay more than $5 to $8 for a taxi ride clear across the city) you may prefer to have a car if you live in a neighborhood such as Quito Tenis or Bellavista. You will, though, find reasonable real estate prices in these areas. A basic two bedroom, two bath apartment can be rented for $500 or purchased for around $120 per square foot.

As we strolled down the main avenue with its tree-lined median, modern condo buildings, and many shops and restaurants it was easy to imagine we were in an upscale section of New York or Chicago. Gonzalez Suarez is reflective of its upper-middle class residents and you’ll find both a Harley Davidson and a Mercedes Benz dealership here. Incredible dining options predominate in Gonzalez Suarez, like Sole e Luna (Trattoriasoleeluna.com), where we enjoyed a fantastic Italian dinner (I devoured a super-tender filet mignon in Cognac cream sauce and Cynthia loved her grilled salmon, both of which totaled only $24), or Edo (Edosushibar.com), a Peruvian/Japanese sushi restaurant. A modern supermarket is nearby as well. But this lavish lifestyle doesn’t have to be a budget-breaker. Granted, new construction for purchase can run upwards of $160/square foot, yet a three-bedroom, twobathroom apartment (including maintenance fee) can be rented for $680 per month.

“Quito has lifestyle options to suit every budget.”

Weather Like Southern California Exit La Carolina with a tunnel straight through the mountain below Gonzalez Suarez and Bellavista and emerge in virtually a different world—the eastern suburbs of Quito. Cumbayá is the closest duplication to typical U.S. suburban development in Ecuador. Gated singlefamily communities are the norm, some with massive mansions priced at over $2 million. Sprawling retail centers anchor all four corners of busy intersections. We spotted TGI Friday’s, Papa John’s, and even Dunkin Donuts, plus an IMAX theater. Here’s a shocker—although the elevation of Cumbayá is the same as Cuenca’s in southern Ecuador, the weather feels just like southern California. Perfect temperatures (averaging just over 61 F), blue skies, and low humidity. Cumbayá town square is ringed by restaurants, bakeries, liquor stores, and specialty shops (one sold Greek yogurt and another had electronic cigarettes). Small markets selling fresh fruits and Feels Like New York… vegetables are within a couple of blocks. This neighborhood is Sitting on a high eastern ridge with commanding views of the quiet and lovely, yet it sits only a 10-minute walk from retail mania city to the west and the Cumbayá valley to the east, the Gonzalez Suarez neighborhood was the first large-scale urban expansion offering all the goods and services you could possibly need. Rental beyond Quito’s central city. units can be found from $600 to $1,500 per month. This area is where many expats with school-aged children live. There are many international bilingual schools here, as well as the University of San Francisco, Ecuador’s top university, a private liberal arts college that The two main budgeting variables in Quito are your cost of housing and attracts a fair number of foreign exchange students. The entertainment, as shown below. new Hospital de Los Valles, built just a few years ago, provides state-of-the-art medical services to the growing Monthly Expenses: valley population. Housing (rental of a two-bedroom apartment) $500 Between Cumbayá and downtown Quito is Nayón, Utilities (including phone, water/electricity, Internet, and DirecTV) $155 an overlooked area that is being rediscovered because Maid (once a week) $80 of its proximity to the city. Turning off the nondescript Groceries (not including alcohol) $450 main road we discovered beautiful single-family houses Transportation (car) $140 and lots of new construction. Alexandra Rendón of Misc. (personal items, etc.) $80 the real estate agency Cubica (Cubicabienesraices.com) Entertainment (two people dining out six times a month, $225-400 showed us El Palmerol, a secluded gated community including drinks, dessert, and tips) of large, luxurious, ultra-modern homes with amazing IESS (Social Security) Health Care $80 views. The average dwelling there is 4,000 square feet Total $1,710-1,885 and costs $400,000. n

Cost of living in Quito

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FeAtu R e St oRy

Our Top Five Tropical Islands for Retirees on a Budget By the staff of International Living

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love the greens and blues,” says Washington native Deb Crofutt of her new life on a tropical island. “I love the smiles on the faces of everyone I make eye contact with. I like being away from the hustle and bustle of home and the pressure to own ‘things.’ I spent so many years working in the corporate world just to have stuff. This is a simpler, better life.” Imagine the feel of the warm sun on your shoulders as you walk along a pristine white sand beach stretching to the horizon, fringed by palm fronds and the sumptuous blue ocean. You’re on your way to your favorite bar to enjoy a cocktail 20

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with expat friends as the sun goes down. All part of your new laidback lifestyle free from stress. For many people, particularly snowbirds seeking to escape the biting North American winter, this is their ideal retirement. An affordable island with a carefree lifestyle, modern amenities and sunshine all year round. Over the next five pages, we outline the best five tropical island paradises for retirees. These places meet all the criteria needed to make them perfect retirement havens. As well as looking the part, all five of these islands—spread throughout the world—are becoming easier to get to as more and more flights open up to and from North

America. Many tropical getaways have been consumed by commercialism, leaving them beyond every reasonable budget. But the islands on our list remain affordable, as attested by our expat experts on the ground. On some, it’s possible to live for as little as $1,500 a month including rent. At the same time, all of these islands boast the infrastructure you need to enjoy a happy retirement. Health care facilities are either on the islands themselves or a short distance away. On one you will find fully modern hospitals; the others are serviced by basic clinics, but fully-equipped hospitals are only an hour away. Also, while some tropical islands are the exclusive haunts of

Bocas del Toro, Panama, is one of several enclaves in the caribbean where you can live for less than $2,000 a month.

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party-seekers and backpackers with a thirst for thrills, the islands that make our cut can cater to retirees in search of a more relaxed experience…although that’s not to say that there’s not plenty of excitement and adventure for those who want it. In the end, it’s up to you to decide which one best fits your fantasy of a complete tropical getaway. You can have a beach hut right by the waves or a high-end home with its own swimming pool. Would you rather spend your days relaxing by the sea or prefer to indulge in a more active retirement, immersing yourself in nature as you explore dense rainforest and rugged mountains? Do you want a secluded retreat without big crowds or do you need a lot of people to make your tropical island homely? All of this comes down to personal taste, and no matter what your tastes are, you’re sure to find somewhere that fits your needs among the five islands we’ve selected. The tropical retirement of your dreams could be easier than you thought. Read on to find out more.

Roatán, Honduras: Affordable, Laidback Island Haven

By Amanda Walkins Located off the East Coast of Honduras, Roatán is the largest and most developed of the country’s Bay Islands. With its own international airport, a well-established expat community, and modern amenities mixed with rustic charm, Roatán offers retirees an incredible opportunity for a new life in paradise. Each morning in Roatán I’m greeted with vibrant sunshine and the enchanting sounds of a jungle awakening. I often take advantage of the stunning sunrise to walk along the beach to start the day. A latemorning swim or snorkel in the warm, clear waters lets me see some of the most incredible coral reefs in the entire world. Frequent meet-ups are arranged by different expat groups throughout the island, from beach days to afternoon meetings on the dock with tropical cocktails in hand. Roatán is filled with small communities where expats and locals mix and create endearingly intimate neighborhoods. Often bumping into each other at the grocery store or on the street, residents find it’s impossible to run errands quickly. But there is an unfailing feeling of camaraderie where everyone understands that time is a fluid concept and the moments of each day are more important than checking items off of

Roatán combines beautiful beaches with a thriving expat community and affordable living. a to-do list. Stretching about 35 miles long and only five miles wide at its widest point, Roatán offers breathtaking hillside views and affordable beachfront property. With growing interest in Roatán in recent years, now is the time to take advantage of the great deals still available in this little paradise. The island still offers pristine land, untouched and undeveloped, for investors to custom-build a new home. There are also plenty of move-in ready options, particularly the beautiful cottage-style houses in the popular expat neighborhood of West Bay called Turtle Crossing. Alternatively, the state-of-the-art condos of stunning Pristine Bay overlook not only the amazing blue ocean, but also the vibrant greens of Roatán’s Black Pearl golf course, designed by the legendary Pete Dye.

“Each morning I’m greeted with vibrant sunshine and the enchanting sounds of a jungle.” Rentals are plentiful as Roatán enjoys a large market of repeat visitors and shortterm residents. Apartments and homes rent for one month, three months, six months, or more. Potential expats often rent short-term in various neighborhoods before committing to a long-term rental or purchase. The cost of renting and living on the island remains highly affordable (see sidebar on page 23). Grocery stores are filled with North

American staples and restaurants offer everything from Southeast Asian cuisine to pizza and hamburgers. Caribbean flavors are infused with Latino spice and international influences to create a multi-cultural dining scene. Expats also enjoy the convenience of basic, low-cost healthcare on Roatán with several medical facilities on the island and pharmacies offering medications over-thecounter. Those who prefer to still use their own doctors back home simply keep their insurance active, and many expats maintain a basic level of healthcare back home solely for emergencies. Others, like Deb and Bill Crofutt from Everson, Washington, don’t bother with health insurance payments at all. “If we need to see a doctor we go to one of the clinics here,” Deb says. “We can get our prescriptions filled for three months for less than the co-pay in the U.S. with insurance. If we should need medical, we’ll go to the mainland or to Panama.” Many expats actively support their new communities as well, volunteering with a variety of organizations providing local services. Tricia Rolston Power, originally of Baton Rouge, Louisiana, spends much of her free time working to better the community. She is a member of the Board of Directors of the Roatán Humane Society and also a sponsor for a local family, helping to provide medical care, education, and employment opportunities. “I try to get involved in my community every time I see a need or I am called upon,” she says. “And I feel very lucky that I have been chosen to do so.” The longer I live in Roatán, the more I feel the kind of freedom and pure joy reminiscent of my childhood. And I all too frequently find myself commenting on how lucky I feel to be living in such a special place. MARCH 2015

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Featu r e Story myriad social activities and local events. It’s surprising how many diverse people come and go on this lively little island. You’ll often find that you need to juggle your social calendar as you meet new, interesting friends, some of whom live on the island, and others who pass through on a regular basis. For me, retirement on Ambergris never gets boring…

Penang, Malaysia: Brilliant, Affordable Health Care

Affordable Ambergris Caye has a vibrant social scene. You’ll never want for friends.

Ambergris Caye, Belize: Paradise at Your Doorstep By Ann Kuffner If you’re after a laidback, Englishspeaking Caribbean retirement at an affordable cost and with easy access to the States, you can’t do much better than Ambergris Caye, Belize’s largest island. Ambergris has racked up a series of impressive “best island” awards over the last few years; the island received Trip Advisor’s Traveler’s Choice Award for Best Island for 2013 and 2014. But Ambergris Caye is much more than a tourist destination. It’s a perfect retirement haven. Every day I can enjoy the gorgeous Caribbean Sea and the sight of waves crashing on the offshore Mesoamerican Barrier reef. The Caribbean’s aquamarine hues never fail to dazzle me… With the sea to the east, and the lagoon to the west, breath-taking water views surround us here on Ambergris. I just love how the weather is so balmy, year round, that we can dine at an open air beach café, day or night, without the need for a sweater. The island receives 60-70 inches of rain/year. The temperature seldom rises above the mid-80s F during the day, or below the 70s F at night. Caribbean trade winds provide a cooling effect, making it feel much cooler than the thermometer indicates. The temperature of the Caribbean Sea gets up to 84 F and swimming is comfortable all year. It’s easy to fly to Belize, and to Ambergris, from North America; American, 22

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United, USAir, Delta and Avianca fly direct from cities such as Houston, Miami, Dallas, Charlotte, and Atlanta. In 2014 a few new direct flights were added, from Los Angeles and Chicago, to address rising tourism demand. In October of this year Southwest will initiate direct flights to Belize. It’s possible to live on Ambergris for under $2,000 a month, although this is easier if you own your own home. How much you pay in rent is usually determined by how close you want to live to the beach, with beachfront properties usually commanding a higher price. Away from the beach, lots are available for less than $750 a month. If you plan to stay part of the year, you can rent out your property for the rest to cover the cost. Belize is a small country, with only 330,000 people. Ambergris Caye itself has less than 20,000 residents. Given the size, the health care options are not broad. But there are a decent number of competent, committed doctors on the island, so basic health care service is good. Ambergris Caye now has a 24-hour clinic, the Los Pinos Clinic, located across from the airstrip. The best hospitals are located in Belize, which is a 20 minute flight away. And Ambergris Caye’s airstrip was modified a year ago to allow for night flights. There’s an active expat community on the island, and many expats live here full-time. They spend their time enjoying the stunning natural environment and outdoor activities: volunteering at their local church or favorite nonprofit, running a business part- or full-time, attending a gym or yoga studio, and participating in the

One of the oldest outposts of the former British Empire, Penang delivers 110 square miles of tropical treasures. A lush, mountainous island oozing history and heritage, Victorians christened it “the Pearl of the Orient.” It lies anchored on the Spice Route, just off Malaysia’s west coast, a mere two-hour drive from the borders of southern Thailand. Around 41% of the island’s 600,000 inhabitants are of Chinese descent. From the Snake Temple to mooncakes and elaborately decorated clan houses, their culture and traditions survive intact. As do those of Penang’s Malay and Indian communities. Many foreign retirees also opt for a new life on Penang, only a 50-minute flight from Kuala Lumpur. It’s also accessible by an eight-mile long road bridge and a ferry from the mainland that runs 24 hours a day. A second bridge was completed mid-2014 and a tunnel is planned for 2034. George Town is Penang’s capital city. A UNESCO World Heritage Site since 2008, it’s one of Asia’s most likable cities. Blending old and new, modern high-rises encircle streets packed with mansions, shop-

Penang boasts high quality and affordable health care.

By Keith Hockton

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The Costs of Living Well on a Tropical Island

lthough island life around the world is generally more expensive due to the need to import nearly everything, the lower national cost of living in countries like Honduras, Belize and Thailand certainly helps to keep overall costs down on our five tropical oases. So while groceries on islands like Roatán, for example, are a bit high in comparison to mainland prices, housing and most utilities remain low. Roatán—Monthly Budget: $1,800 In Roatán, apartment rentals with full amenities in popular areas can run anywhere from $600 to $1,000 per month for a two-bedroom unit. Typical utilities per month run $200 and most couples estimate spending about $600 per month on groceries. For a retired couple who own a home in Roatán (where mortgages and financing hardly exist), a typical monthly budget hovers around $1,000. For a retired couple renting on-island, a typical monthly budget is closer to $1,800. Ambergris Caye—Monthly Budget: $3,000 When you look at the cost of living on Ambergris Caye, it’s not difficult to see why it’s so popular. It’s more expensive to live on the island than in most other regions of Belize. But it’s considerably less expensive to live on Ambergris than most other Caribbean islands. And quite a few expats manage to live on a budget. For instance, Judy and Duane Allen spend less than $2,000 a month. They live comfortably and insist that they lack for little. They own their own home, which helps, since rents tend to run $1,000 a month and up for a condo on the beach. For expats who are willing to rent off-beach, deals can be found for $750 a month or less. A couple who rent should assume they’ll spend $3,000 a month or more to live on the island. Penang—Monthly Budget: $1,500 Penang is conservatively one third to one fifth of the cost of living in the States. That means that your dollar goes a lot further in Malaysia, a country that has all the comforts of home. A couple

houses, and Chinese clan houses. There’s plenty in Penang for colonial history buffs and foodies too. Penang also delivers first-rate hospitals that offer unbelievable heath care at super reasonable prices. Just one of the reasons the island has two planeloads of medical tourists arriving every day, and when it only costs $20 to see a specialist you can understand why. Western-style shopping is the norm, and good beaches are on your doorstep. A 60-cent bus ride takes you past upmarket Gurney Drive to Batu Ferringhi’s golden sands. Gurney Drive’s promenade

can easily live on just over $1,500 a month whereas a budget of $4,000 or more will have you living in absolute luxury. An entire bag full of fresh fruit, including mangoes, bananas, apples, oranges, and pineapples costs just $4. High-speed Internet is reliable and costs $30 a month and the premier cable TV package for $40 includes favorites like HBO, CNN, and the BBC. And a couple can eat out well for less than $10. Go to night bazaars, and you can dine for much less than that: chicken-and-rice meals are often only $1. Koh Samui—Monthly Budget: $2,000 In Koh Samui, it’s not hard to spend a lot of money. The good news is you can live well without breaking the bank. And even though this is not cheap when compared to other parts of Thailand, it’s still a good deal more affordable than either the U.S. or Canada prices. $2,000 a month isn’t an unrealistic budget for living well on the cheap. $3,000 to $4,000 a month and you’re living large. You can find fully-furnished apartments for rent for as little as 5,500 baht ($169) per month. You can fill up your motorbike’s gas tank for about 120 baht ($3.68). And that’ll last you for a few days. A huge 20-liter bottle of water (enough to last two people for at least a week) costs 20 baht (61 cents). A dinner at an outdoor café including pork ribs, mashed potatoes and coleslaw will run you 280 baht ($8.67) in Chaweng, one of the island’s main beach resorts. Bocas del Toro—Monthly Budget: $1,200 In Bocas, most people get around on foot or bicycle. If you don’t live on Isla Colon you’ll have to factor in the cost of water taxis ($1 to $5 in most cases). Eating out will set you back $3 or $4 for a hearty local-style meal or as much as $20 at one of the nicer restaurants. Drinks are inexpensive at around $2 for a local beer or around $4 for a rum and coke or glass of wine. Budget about $350 a month for groceries for a couple. Including rent, a couple can live here for as little as $1,200 a month.

is a favorite spot to catch well-to-do locals promenading at night and at weekends, and there are a few of the old grand mansions on view. Penang is also terrific for an outdoor lifestyle. I can be at the beach within minutes of leaving my apartment or in the jungles hiking in the same amount of time and never see another soul for hours on end. When I want, I can cycle around the whole island in a day People from Penang are called Penangites and food is always on their mind. If they are eating breakfast they are

thinking about lunch. If they are eating lunch they are thinking of an afternoon snack. You get the picture. There’s a dazzling array of stalls and restaurants selling delights such as charcoal-baked crabs, salt-baked shrimp, and Penang’s signature fried flat noodle dish, Char Koay Teow. It’s cooked using sweet dark soy sauce, bean sprouts, garlic, onions, Chinese sausages, prawns, chili, and squid. People drive from miles around just to sample it. Penang reminds me of Malibu, California. Not because of the prices—in fact, far from it. But the road fronting this MARCH 2015

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Featu r e Story

Koh Samui, Thailand: Hidden Jewel of the Orient By Jason Gaspero Think of a tropical island that offers just about everything the discerning retiree could want. It’s warm and balmy 12 months a year. English is widely understood everywhere. There’s a thriving expat community. The hospitals and health care options are of high-quality. And it’s still a big-time bargain when compared to other well-developed tropical islands worldwide. It’s Koh Samui—an 88-square-mile gem in the Gulf of Thailand. Situated about 400 miles south of Bangkok, Koh Samui has become one of the most coveted overseas expat and retirement destinations in the entire world. And for good reason. Samui boasts world-class beaches tucked away in secluded bays, expansive inland jungles teeming with exotic birds, butterflies, and monkeys, magnificent cascading waterfalls and inland natural pools, and an almost countless choice of great spots to sit down, relax and watch the spectacular sunsets over the Gulf of Thailand. The island offers much exotic tropical beauty and exciting outdoor activities like deep-sea fishing, scuba diving, horseback riding, archery, golf, tennis, jungle trekking and so much more. It’s also got just about every modern amenity you could ever think of within minutes of your front door, from airconditioned shopping malls stocked with every modern good you’ll find back home to high-speed broadband Internet and fast, reliable island-wide 3G coverage. I have a choice of 18-hole championship golf-courses with jaw-dropping panoramic views, movie theatres, fully-stocked grocery stores, modern gyms, car and motorbike dealerships and much more. One of the many things about life in 24

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Koh Samui I adore is there are people from all over the world. On any given night out, I imagine there are at least three-dozen nationalities under one roof. Everyone seems to love the warm weather, cheaper prices, and of course, the legendary friendliness of the Thai people. It is this that made me feel right at home here in this Oriental haven. A round-trip flight from Los Angeles (LAX) to Samui will run anywhere from $1,100 to $1,500 and up depending on what time of the year you book your flight. High season in Samui (which is also when the weather is the most sunny and pleasant) runs from late-December to mid-March. Samui features a tropical monsoon climate, so it’s sunny, warm and humid most of the year. However, it gets quite cloudy and wet in October and November during the rainy season, so make sure to pack your waterproof jacket if you plan to stay that time of year. Cheap ponchos are also available for sale in many stores and supermarkets. Property deals in Samui run the entire gamut. For example, if you’re really budget conscious and don’t mind living frugally, you could rent a property like a furnished apartment with Wi-Fi, satellite TV, hot water, and a king size bed in bustling Chaweng for just 5,500 baht ($169). If you’ve got a slightly higher budget, you could rent a two-bedroom, one-bathroom apartment with a living area, kitchen and just five minutes from expat hotspot Lamai for 20,000 baht ($614). If you’d like to buy a home in Samui,

you can find deals like a brand-new fullyfurnished one-bedroom apartment with one ceramic-tiled bathroom, a living room, a kitchen, a terrace, beach access, a gym, high-speed internet, concierge service and dozens more highly-valuable owner amenities for just 2,999,999 baht ($92,000). And if you need a little more room, you could buy a fully-furnished two-bedroom home in a quiet area of Samui with a private pool, your own parking area, over 300 square meters of land and air conditioning for just 6,350,000 baht ($195,204). See: Apartsamui.wix.com.

“This island boasts world-class beaches tucked away in secluded bays.” English is widely spoken, so I don’t have to worry about being misunderstood. It’s not expensive, either—especially when compared to Western prices. An appointment with a specialist costs just 200 baht ($6.14). Popular health insurance options include Bupa International and Pacific Prime. And by the way, many prescriptions are available “over the counter” at much, much lower prices than you’ll find back home. And pharmacies seem to be everywhere in Samui!

As well as its famed beaches, Koh samui has all the infrastructure you need for a comfortable retirement on a budget.

area is right on the ocean, just like Malibu. It’s a lovely, leafy, coastal area and one of the oldest neighborhoods on the island. There is a large retired and working expat population on the island, and there are a plethora of clubs, art galleries, museums and cafés to keep you occupied for a very long time. Throw into that mix dinner parties, golf and tennis days and beach BBQ’s and you get a good idea of how active the expat population is.

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It’s hard to say how many expats live in Samui at the moment. Some estimate the expat population at a little under 50,000… so you’ll definitely find more than a few like-minded expats on the island, if you know where to look. Popular hangouts on the island include Chaweng, Lamai, Bophut and Mae Nam.

Bocos del Toro, Panama: Relaxing Island Retreat By Jessica Ramesch Soft breezes, reggae music, the Caribbean lapping against the shore… Bocas del Toro is a soothing kind of place. Sitting on an over-water deck, sipping a rum and cola, I tend to forget every worry. The Caribbean here is warm and clear. Depending on where you sit, it looks a pale jade, electric blue, or a translucent turquoise. Views are quintessential Caribbean…pale white sand and lush green palms. It’s the kind of scenery that takes your blood pressure down. Bocas del Toro is one of Panama’s 10 provinces. But the expats who live here choose to make their homes on the archipelago rather than the mainland. Isla Colon is the main island and population center, often referred to as Bocas Town. Restaurants, tour operators, hotels, and bars sit next to the little markets referred to as “mini-supers.” Tucked in between are old-fashioned shops, deeper than they are wide, with everything from baskets to flipflops piled up to the ceilings. There are places where you can buy a local beer for about 50 cents or have a gourmet meal for $30. For a little variety, surrounding islands offer a watery world to explore. Some are tiny and uninhabited… you can have stretches of white sand all to yourself. Others may boast a few little B&Bs or restaurants, or indigenous settlements. Satellite television, cell phone service, and high-speed internet are all available and have been for years. There’s a small public hospital on the island that can deal with basic illnesses and injuries. In Panama City, a one-hour flight away, larger facilities offer all the modern equipment and complex procedures one would expect of your average U.S. hospital. I don’t recommend buying property in Bocas as it’s one of very few areas in Panama where securing title to your property can be an issue. Property for

Where Islanders Go to Escape…

mong Honduras’ Bay Islands, Utila is the other popular destination after Roatán. With ferry service to the mainland and regular charter options from Roatán, you can access this island fairly easily. Smaller and much more of a rustic locale, Utila is known for its nightlife, as well as its completely off-thebeaten-path charm. Guanaja is the other large island and has hardly any tourism but plenty of cultural intrigue. A visit to Guanaja can be arranged from Roatán with a local boat captain, and it’s a local you’ll likely be staying with should you opt to overnight. Cayos Cochinos (the hog islands) are an incredible destination for snorkeling and scuba diving. Caye Caulker is another tropical Belizean island close to Ambergris Caye. Though less developed than Ambergris is now, Caye Caulker is still a favorite destination for water-lovers; as well as great beaches, the island affords fantastic opportunities for swimming and scuba diving in the Caribbean sea. Water taxis abound on an island that still holds dear to the romantic Caribbean lifestyle of yesteryear; the locals are laidback and friendly. Caye Caulker is also cheaper than Ambergris, with rentals available from around $300 per month. If you are looking for an island break

rent, however, is readily available and very inexpensive compared to more popular Caribbean destinations. Smaller apartments can start as low as $500 a month, and threebedroom, two-bath homes range from $600 to $900 a month. Expect to pay more closer to the main center or for ocean views. The islands of Bocas del Toro are among the most beautiful in the world, but Bocas is wet year round. Most days start out sunny and showers come in the afternoons. There are no hurricanes here, however, and temperatures are never extreme…they tend to average about 88 F. There are no direct international flights to Bocas del Toro. To get here, fly to Panama City’s Tocumen International Airport and then switch to the domestic airport for a one-hour flight. You can also go by car or bus; it takes about seven hours

from Penang, Langkawi is only two hours away by ferry or 20 minutes flying, and has some of the best beaches that Malaysia has to offer. It is an archipelago of nearly 100 islands, with coconut trees and forest-clad mountains teeming with exotic wildlife. There are numerous 5-star hotels and award winning boutique hotels to suit everyone’s budget. Koh Samui’s nearest neighbor, Koh Phangan, is just 50 minutes away by ferry and offers spectacular tropical scenery, a chilled-out beach vibe and legendary nightlife. Also nearby is Koh Tao, one of the world’s best diving destinations. It’s not unheard of to see whale sharks — which can reach 40 feet in length—in these waters. Koh Tao is just 90 minutes by ferry from Samui…and it’s a gorgeous trip. Though there are many small islands near Bocas del Toro where you could live a Robinson Crusoe lifestyle, Bastimentos and tiny Carenero Island have captured the fancy of a few expats. Both are about a five-minute boat ride from the main island. Here you can have a simple home surrounded by mango, coconut and banana trees, and spend your days meandering miles of coastal paths and exploring little coves and inlets.

to get to the water taxi at Almirante. From there it’s a half-hour to Isla Colon. Life in Bocas is all about relaxing. The expats that live here are of all ages and tend to be mellow, easygoing types. The dress code is “beach casual” and outings consist of a couple beers and maybe some live music, courtesy of musically-minded residents or transient talent. There are plenty of ways to get involved in island life. Some of the restaurants and hotels here are expat owned, and you’ll hear residents talk about teaching local students or volunteering for important causes. The influx of expats and small but steady stream of tourists has made Bocas a much more homely place than when I first visited in the late 1990s, and have helped make it a place well worth considering for your tropical island retirement. n MARCH 2015

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MA RK E T WATC H

“I’ve Never Seen a Better Time to Buy Development Land in Latin America” By Ronan McMahon

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to pay attention to boomer activity. Baby boomer retirement will largely drive the market for overseas real estate in parts of Central and South America over the next 20 years. This trend is in its infancy. It will happen in bad times, like when Americans are financially stretched. Many retirees simply can’t afford to live in the U.S. on their retirement savings. Boomers will look to the tropics for new, affordable lifestyle opportunities. It will also happen in the good times when home and stock market values soar—Americans are squeezed out of real estate markets or simply want to take their nest egg elsewhere. There are three ways that I recommend you use to take an early position on development land at an “armchair investment” level. Pure Equity Investment This amounts to becoming a shareholder in a development company. You make an investment for which you get an agreed number of shares in return. Invested amounts are large, from a couple of hundred thousand dollars to seven-figure sums. Some groups offer opportunities where smaller investors can get in with as

or more than 11 years But rules have been dramatically relaxed I’ve traveled all over Latin in relation to deals like this being offered to America. From the U.S.accredited investors. Laws are under review Mexican border all the way to as to how these relate to non-accredited Argentina, I see firsthand the investors. Right now I’m looking into how opportunities this vast land has to offer. this is changing the investing landscape. I’ve never seen a better time to invest in Every development business has a cost development land in Latin America than of capital. In Latin America, that can be right now. high—if a bank will lend, the interest rates The biggest returns in development can be well into double digits. I’ve watched come to the earliest speculators who take friends invest with developers and rack positions. You don’t need deep pockets to up annualized returns of 17% over several invest in development land—if you know years with little risk. You can do that if how to do it. you understand the developer’s business, Nicaragua, for example, is a country trust him, and make sure you structure of stunning natural beauty and abundant your arrangement so you are protected resources. It has a young population and on the downside. Some landowners are its economy is catching up from a very low under financial pressure. They got in base. It has great potential as a retirement trouble during the crisis, and buyers are and vacation locale for North Americans. thin on the ground. Retail sales in markets In the early 2000s, money and people dependent on North American buyers fell raced in. Many didn’t have the skills or off a cliff during the crisis and are only the experience to develop real estate. slowly recovering. (The Riviera Maya is Things unraveled with the crisis. Now an exception to this.) This helps keep land almost everyone is afraid. I’m not; now prices artificially low, and means that many is the buying moment developers need to tap on Nicaragua’s coast. alternative sources of Next door, Costa Rica is finance. Junk will never more developed. But the sell. The slowdown buying moment is the The biggest returns in retail demand is same. Capital is scarce temporary and product come to early and expensive for local specific. For the good developers. A good way to stuff—the market has speculators.” play all this is at the earlyalready turned. The best in investment level. homes, lots, and condos One way you can play big real estate now sell fast. The medium-term North trends is to invest in the development American demographic drivers are just too company that owns the land. That way you strong. According to some reports, more could enjoy the market upside (as prices than 4.5 million North Americans (mostly rise, the value of the developer’s inventory baby boomers) are now considering living rises) and also get a piece of a profitable or owning property in Latin America. business. I’m talking about a developer Weather, cost of living, adventure, and selling you shares in his company. For a the challenges of our changing world are regulatory compliant developer, doing this driving this. Retirees want to try something used to bring so many compliance hurdles new. More and more folks are no longer it was pretty much impossible. tied to an office with their work. We need MARCH 2015

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With more North Americans retiring here, Nicaragua’s coastline offers terrific opportunities to invest in development land.

little as $50,000. Return on investment can be several years—but sometimes deals like this can start making disbursements to shareholders as soon as sales start flowing. I like these because the investor’s return is uncapped. The investor enjoys the same upside potential as the developer. That said…you could be tying up your money for a long time (a share in a company that’s tricky to sell). There are also a lot of things that can go wrong over the lifetime of your investment. If a freak storm wipes out the infrastructure…you’re on the hook. Avoid this type of structure unless you know, trust, and have a track record of successfully dealing with the person pitching you the deal. Hard Money Loans More and more developers are offering this type of investment since banks have tightened their lending policies and credit has dried up from other sources. A hard money loan behaves in a similar way to a corporate bond. A developer borrows money from you and agrees to pay it back in one or two years. I’ve heard of these loans being made with anything from $10,000 up. Typically the entry point is

$50,000. Beware of any developer asking you to lend him $10,000. It stinks of desperation. It’s a tiny amount of money to take on the administration associated with writing the loan. In the meantime, you get monthly or quarterly interest payments. Your loan should be backed by a real and liquid asset. You need to be comfortable that in a default scenario you could recoup your investment by selling the asset your loan was secured on. Interest rates can be high…20% and sometimes higher. Unlike the pure equity investment, your return is capped at this level. With the right security available, this can be a relatively easy way to earn an annualized 20%. Holding the right security is key. I like this type of deal. The crucial point is that you do this in a liquid market. If things go south, you want to be able to move on the land/real estate you have taken as security. Bulk Pre-Project Purchasing My favorite way to make this play is through bulk or pre-project purchase of units. Once a developer has locked down a piece of land, it takes time to nail down the master plan and get all the relevant

permits…usually a couple of years. During this period, a developer may offer an agreed number of lots in return for a cash investment. You can get lots at a deeply discounted price. Typically deals like this are structured in a way that you buy shares, and your dividend payout is lots. You receive your dividend once the master plan is finalized and permits are in place. I like this type of arrangement because once you are allocated your lots, you have control and flexibility. For example, you might want to sell some of your lots to recoup your original investment—which could be anything from $50,000 up. The bulk purchase of lots is perfect for a small or midsized investor who wants to retain full flexibility and control over his asset. Again, security is key. You need to be sure that your investment is secured against land or held in escrow until title is transferred on your lot. Follow this strategy and pick the right deals and you could triple your money in three to four years with the security of an underlying asset. You can also invest this way with preproject condos. I like investing this way once your $100,000 is protected with liquid security. (Maybe you have a lien over the development land which is easily sold.) Obviously, you’ll need to have confidence in the developer’s capacity to deliver a quality product. However you invest in development land in Latin America, start getting your ducks in a row today. Buy when the market is set for strong growth. Buy where the developer is strong and his community will be the best in class. n Editor’s Note: Ronan McMahon is Executive Director of Pathfinder, International Living’s preferred real estate advertiser. Ronan reveals more about development land in Latin America in his Real Estate Trend Alert service. See: Intliving.com/RETA. MARCH 2015

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INVES T M E N T

Dare to Profit in These 10 Overlooked Asian Markets By Sara Nunnally

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who doesn’t have a really good grasp of how things operate on the ground. Most times, you actually have to be there with boots on the ground to invest, and that can get complicated. But there is a sweet spot. Vietnam and Malaysia mix untapped potential with the benefit of established global investing choices. In other words, there are fully vetted, exchange-traded funds and depository receipts available to investors. You can invest in these countries with your regular investment account. Let’s take a look at both of these countries and see if they make sense for you and your portfolio. We’ll start with Vietnam, since we’ve already dipped our toe in. Vietnam in Transition Not that long ago, Vietnam’s industries were under the thumb of the government: rigid, stoic, and highly inefficient. But since 1986, Vietnam has been modernizing its economy and updating its industries and infrastructure. In 2007, it joined the World Trade Organization.

Between 2000 and 2013, this group’s GDP even years ago, I sat in a growth rate was only outpaced by India sparkling high-rise in the and China. middle of downtown Ho Chi With more than 600 million people Minh City, Vietnam, waiting living in this region, that GDP growth to meet with the managing means huge boosts in income and director and chief investment executive of spending, with much more to come over VinaCapital, Andy Ho. From the window the next 15 years. on the 17th floor, you could look out and By 2030, the number of households see huge ¸ infrastructure and commercial real in Southeast Asia’s consuming class will estate projects all over the city. more than double, from 81 million to 163 “Have you ever been to Shanghai?” million, representing nearly $1 trillion in Andy asked. “We, too, are building a whole economic value. new city. When you come back in five years, The well-respected McKinsey Global you won’t recognize this place.” Institute report, “Southeast Asia at the He was right. Consider the Bitexco crossroads: Three Tower, the crowning paths to prosperity,” glory of the Ho Chi puts it perfectly: “The Minh City skyline. It region has experienced rises 68 stories and has a GDP growth means two decades of robust stunning observation deck growth, which cantilevered off the 49th huge boosts in income economic has successfully lifted floor. When I was looking millions out of poverty out Andy’s window in and spending.” and created a middle VinaCapital’s Sun Wah class with newfound Tower, it wasn’t there. spending power. Consider the numbers: Neither were a lot of buildings. In fact, if ASEAN were a single country, it would 25 skyscrapers have been completed in the already be the seventh-largest economy in last seven years alone. the world.” Some of these countries are already The ASEAN Tiger… well-known to the international investment But it’s not just the architectural community. Indonesia, Thailand, and the landscape that’s changed in Vietnam. The Philippines have been generating profits for investment landscape has changed, as well. emerging-market opportunists over the past In fact, the whole region has been six or seven years. And Singapore is a global booming… So much so that investors hub for trade, banking, and business in aren’t just looking at places like Vietnam Southeast Asia, with decades of experience and Malaysia as new retirement frontiers. and exposure. They’re looking at these countries as a way Other countries, like Cambodia and to boost their portfolios. Burma, are just starting to attract attention. More than $2.4 trillion in GDP are There’s a lot of opportunity for investors generated each year by 10 overlooked looking to get in on the ground floor with Southeast Asian countries. these countries. I’m talking about Brunei, Burma, In all honesty, investing in Laos and Cambodia, Indonesia, Laos, Malaysia, other frontier markets—countries that are the Philippines, Singapore, Thailand, and still developing—is risky, and it’s not for Vietnam—collectively, the Association everyone. And certainly not for anyone of Southeast Asian Nations (ASEAN). MARCH 2015

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Old Saigon, now Ho Chi Minh City, is at the center of Vietnam’s growth.

This is a key transition, though it didn’t come very easily. Vietnam was shifting from an agriculturally driven economy to one powered by industry. But at the same time, the world ran face-first into the financial crisis. The world’s biggest economies stumbled, and those bright and shiny new economies that were starting to attract attention—like Vietnam—took a massive beating. By August 2011, inflation had reached a peak of 23%. The country’s currency had dropped 20% in response to the global financial crisis. The stock market dropped a whopping 80%. But a return to growth in exports has turned the economy around. Headline inflation was a mere 4.2% in August 2014 and is projected to fall below 3% this year. Vietnam has started to really gain some ground. Indeed, its resilience should make many bigger economies drool. Vietnam’s economy grew by 7.4% a year between 2006 and 2012, higher than nearly every other ASEAN nation. Part of the reason for this was the sheer number of people entering the work force and the low costs of producing goods—

the Philippines, Singapore, Thailand, and Malaysia. And since 2010, the average tariff rates among these countries have been near zero. That means cross-border cooperation is strong and getting stronger with fresh growth. Real growth in GDP between 2003 and 2013 was a steady 5%. Investment in Malaysia has far and away outpaced Vietnam, to the point that it does not have to rely as heavily on its export industry as Vietnam does. That gives investors a bit more peace of mind. Export-based economies tend to be more vulnerable to global slowdowns. In fact, over the past five years, the iShares MSCI Malaysia ETF (NYSE:EWM) has climbed 22.7% through the end of 2014, while the iShares China Large-Cap ETF (NYSE:FXI) has lost 5.11% over the same timeframe. As the region becomes more interconnected, countries like Malaysia that have already laid the groundwork for future success could benefit most from growth and interest. The potential growth packed into the 10 ASEAN nations is great. But taken individually, each economy has its strengths and weaknesses. In general, the more access an international investor has to a market, the lower the risk. All that means is that other investors have done the hard work of vetting opportunities for you. Malaysia on the Move That does not mean that taking the By some very key standards, Malaysia is plunge into an already a major success story. ASEAN investment It’s one of only 13 developing is right for countries that have grown everybody. But at an average rate of 7% or for those investors higher for 25 years or more. Vietnam’s resilience with a higher risk Michael Spence, a Nobel tolerance and Prize in Economics winner, should make bigger a longer time wrote, “Until the past 50 economies drool.” horizon, the years, [this high growth world’s seventhrate] would have seemed an largest economy could offer more than just impossibly high standard.” unspoiled beaches and fruity cocktails. n Here’s why. At a growth rate of 7% (according to Spence), income and output Editor’s Note: Sara Nunnally is a seasoned double every decade. For developing global investment researcher. She’s traveled countries with low incomes, the change is to far-flung places like Morocco, Poland, massive. Using World Bank data, Spence Vietnam and Nicaragua searching for showed that between 1967 and 1997, per investment opportunities for her readers. capita income went from $790 to $4,594— She’s also a panel expert for the Women’s a near five-fold increase in just 30 years. Financial Alliance, and writes in-depth That year, 1967, was the first year reports detailing major shifts in the global the ASEAN nations became a unit. The marketplace. original member states were Indonesia, including labor costs. Indeed, as China’s manufacturing wages have quintupled over the past decade or so, factories have crossed the border into ASEAN members like Vietnam and Cambodia. And here’s where the opportunity lies. As the country becomes more productive, Vietnamese companies need investment, infrastructure, and innovation. Much of that could come from foreign direct investment. International companies have already set up shop in Vietnam. Samsung and LG, for example, produce more smartphones in Vietnam than anywhere else in the world. International funds like VinaCapital are investing in Vietnamese companies in key infrastructure sectors, such as telecommunications and utilities. Investors should look to foreign direct investment flows to see which sectors could offer opportunities. At the moment, those sectors are electronics, construction, and perhaps even real estate.

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CO LLE C TI BL E S

Everyone Wants a Piece of Movie Magic

ovie memorabilia has long fascinated fans, and there’s a ready market for film-related items that can see their value skyrocket as the years pass by. This makes them tempting investments—and you don’t have to be rich to get in on this market, either. If the guys in the Props Departments at MGM could have foreseen what their rubber, plastic, and glued cardboard creations would eventually be worth, I’m certain they’d have kept them all themselves. These imaginative inventors designed and crafted the stuff that dreams are made of: sentimental artworks that now appeal to serious investors as much for their nostalgia value as for the excitement generated in owning a oneoff appreciating asset. The children who huddled in the dark on Saturday afternoons, munching popcorn and drinking Coke, are all grown up now. But the appeal of possessing something from a time when Roy Rogers rode the range and Stan got Ollie into “another fine mess” has grown up with them. We’re all still kids at heart, and what big boy or girl wouldn’t want to own the Triumph Trophy TR5 ridden by Henry Winkler as The Fonz in Happy Days? And what big girl (or boy?) wouldn’t long to wear the ruby slippers worn by Judy Garland in The Wizard of Oz? Those slippers are considered the most important film props in the world. Although

several pairs were made with differing soles to create a variety of footstep sounds, only four pairs remain in existence. One was sold at auction in 1970 for $15,000, changed hands in 1980 for $150,000, went under the hammer again in 2000 for $666,000, and in 2011 realized the outstanding sum of $3 million. This was allegedly paid by Leonardo di Caprio and Steven Spielberg so that the famous sequined shoes could be put on permanent display in a Hollywood Film Academy museum. While not all of us can aspire to such sparkly heights, we can aim to start investing in movie memorabilia more modestly. The cardinal rule for collecting is always quality over quantity, so always look for items in the best possible condition. Historically, items that have sparked the most interest and achieved the highest prices at auction have been connected to Gone with the Wind (like the snow globe to the left), The Wizard of Oz, and Star Wars. Genuine objects from these iconic pictures are like gold dust today and mostly in private ownership. But with new generations, new trends are created. Star power also helps boost value, especially dead star power. Elvis, James Dean, Marilyn Monroe, John Lennon, and, more recently, River Phoenix and Heath Ledger all contribute to collectability. Items from other cult classics such as Star Trek, The Godfather, James Bond, Indiana Jones, and Back to the Future, as well as from superheroes like Batman, Spiderman, and Superman, are all worth looking at. But what about the more

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affordable, “yet to achieve its full potential” material? An original Harry Potter flashlight in the form of Dumbledore, from the Warner Bros. Souvenir Merchandise collection, unopened and in its original packaging, is for sale on eBay with a Buy It Now price of $18. I think that’s worth a gamble, because a boxed, mint-condition Hot Toys Jack Sparrow, from Disney’s Pirates of the Caribbean, is going for around $275. It would have cost a lot less new, so that kind of item is obviously heading in the right direction. In the case of branded keepsakes, do go for new and boxed models wherever possible. An exception would be in the case of vintage B-movie memorabilia from the 1950s or 1960s, where one would expect the figurines to have been played with. To find a new, boxed, unused sci-fi item in the genre of Creature from the Black Lagoon would be a find, indeed. Expect to pay upwards of $300, but also keep a lookout at flea markets and garage sales. Attics, basements, and the houses of folk who’ve passed on are being cleared out every day. Not everyone knows what this stuff is worth today. And even popular, mass-produced plastic figures that come free in cereal packs can be considered collectible once the years have passed and their rarity value kicks in. Vintage alien, robot action, and monster adventure items, created long before special

By Wendy salisbury

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As well as making great decorations, movie figurines can appreciate over the years and command many times their original price.

effects became as sophisticated as they are today, can usually be picked up at yard or garage sales. You may even have some yourself stashed away in a box somewhere. Also look for original figurines based on cartoon characters like Betty Boop. In competition with Disneyana, Pixar collectibles from Toy Story or Finding Nemo are appreciating well, as should non-Disney characters like Wreck-It Ralph, Gnomeo, or DreamWorks’ Madagascar series. A vintage Disney Buzz Lightyear Limited Edition Figurine signed by renowned designer Ron Lee is on sale

on eBay for $179. Your kids may already own some of these, gathering dust and money at the bottom of their toy chests. And it wouldn’t hurt to buy new stuff now to put away. Following the recent movie, Paddington is enjoying a revival. Always buy limited-edition memorabilia that is released on official license from the relevant studio. Beware of cheap mass-produced copies. There are always plenty of ephemera available, such as photographs, posters, annuals, programs, books, and fanzines. A Star Trek photo signed by seven members of the cast sells for $1,200. A framed The Godfather movie poster signed by much of the cast is available for $400. Novelty items such as swords, weapons, and uniforms used on set are wonderfully collectible, too. If at all possible, try to attend specialist auctions or studio props sales. If you can’t get there in person, bid online. You know the items will be genuine. With so much computer-generated imagery, mementos you can touch, hold, feel, smell, and try on have more wow factor than others. But the value of entertainment memorabilia fluctuates as the demographic of the collectors changes. Profiles in History, a movie-prop auction house in Los Angeles, sold a Star Wars Chewbacca head for $172,000 in June 2012 and a laser gun from the Lost in Space TV show for $92,000. Other sales have included the Cowardly Lion’s costume from The Wizard of Oz for $805,000, the

command chair and platform from the USS Enterprise for $305,750 and Luke Skywalker’s lightsaber for $195,500. Transient hype can lead to disappointment, however: A badge from Die Hard that once sold for $10,000 probably wouldn’t fetch $500 today. Most items have a market value, be they as illustrious as one of James Bond’s Aston Martins or as dubious as a pair of sweaty jeans once worn by Bruce Willis. The Planet Hollywood and Hard Rock restaurant chains have both been instrumental in encouraging the collection and display of memorabilia as a form of pop art. You can see their collections up close and personal and use them as inspiration as you enjoy your burger beneath a guitar once strummed by a Rolling Stone. As with all collecting, focus on what you really like, because no one can accurately predict what will be ultra-valuable in years to come. You may just want to own something that has a particular sentimental value for you—something from a movie you went to on a first date, perhaps? The magazine Movie Collectibles is a good source of information, as is eBay, a useful search engine to check current prices. Vendors are obliged to declare authenticity, but if you don’t have a specific theme in mind, ask the youngsters nearest you what they’re into, buy it at today’s price, and stash it away for your (or their) pension. n

Eclectic and Exotic…Malaysia’s Best Antique Store

ou don’t stroll around Abdul Antiques. you shuffle between heavy mahogany tables stacked with bone china, silver candlesticks, coins, medals and strange oriental artefacts. you contort yourself around shelves stacked with rusting swords, teapots, musty books, Japanese tea boxes, Edwardian earrings and bone-handled walking canes. Two hours south of Kuala Lumpur, the malaysian city of malacca is famous for its antiques, but if you visit just one store, make it this one.

By Eoin Bassett malacca is immaculately preserved and unique. As a strategic port it was a meeting point for Chinese, Indian and malay traders and ruled by the Portuguese, then the Dutch, and finally the English. Abdul Antiques actually has two locations close by one another in the heart of Chinatown. Tucked amid the old mansions of Peranakan merchants these are vast Aladdin’s caves brimful with collectibles from all around Asia along with many reminders of the city’s colonial past. The Peranakans—Chinese-descended folk

living along the malacca straits—are also called Baba Nonya and were avid collectors of everything beautiful. you’ll find delftware from Holland, German tiles, grandfather clocks, samurai swords, textiles, and lots of exceptional old furniture. Abdul Antiques is on Jonker street, that’s Dutch for “junk.” But this whole area is a treasure trove for antique lovers. Founded in the 1920s Abdul Antiques is still in the same family, and I was given a tour by one of the third generation. Even if you buy nothing it’s worth the experience. MARCH 2015

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“Funding My Life in Istanbul with an Airbnb” By Linda Paull

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contacted the site administrators and was impressed by how easy it was to set up. I simply went to the website and registered, and a day later an Airbnb rep called me to arrange for a local photographer to take photos of my place. Next I had to write a listing for my place, which was easy. You don’t need fantastic writing skills for this; it’s better to take a friendly, informal tone—this helps travelers warm to you. Setting the price required a little research, though. My place is nice, but not what most people would consider “luxury.” The biggest selling point was the view and the convenience of getting to the tourist sites by boat in 10 minutes. I decided to check for other properties that were listed close by and undercut the competition a little so guests would be pleasantly surprised. That was it. Within a week I was up and running.

“An Airbnb means low upfront costs and it’s easy to operate.” My first guests were a young German couple, who have since become repeat customers. The second guest was an older gentleman from Quebec who fell in love with my cat. Then there was a couple from Queens, followed by two Italian girls. I was a little nervous for the first few weeks, but as the guests started coming, I relaxed. With each new arrival, I got more of a sense of what people wanted from a host and started to include this in my service. One of these things was tour guiding, especially to places that visitors are unlikely to find on their own. Airbnb guests tend to be the type of travelers who appreciate local, on-the-ground knowledge. Running an Airbnb means low upfront costs and it’s easy to operate and maintain. You just need to keep a few things in mind. It’s important to have a location that

At the crossroads of two continents, Istanbul is rich in history and gets millions of visitors. offers some direct benefit to the visitor. It should be close to public transport, historical sites, or offer a great view. You also should decide whether you want to rent out the whole place, or live in it and rent out rooms. Being a live-in host is a full-time job, but if you have the energy and you love looking after people, it can also be great fun. If you are renting, you need to let your landlord know what you are doing; in some countries, there are laws against sub-letting that you need to be aware of. I was renting for $750 a month. My landlord didn’t mind. He lived upstairs and loved to see the comings and goings of people. Photographs really sell a property. Make sure you upload as many as possible. If you have a dog or a cat, include them. It’ll attract the animal lovers. Another nice touch is to have a few tourist travel cards handy. Buy some and top them up for guests. People really appreciate not having to look for such things. My life in Istanbul has been everything I hoped it would be. I enjoy going to the film festivals and other cultural activities like jazz concerts. With a thriving expat scene, there are always new groups to join for mingling and meeting new friends. Many expats do volunteer and charity work. Istanbul a fairly inexpensive city, Rent can be anywhere between $750 and $1,000. But as you can earn between $2,000 and $4,000 a month depending on the location and state of your listing you can live well and even save. The income from my Airbnb has enabled me to live a comfortable existence. As I sit at a little table facing the window that overlooks the Bosphorus—the strait that divides Europe and Asia—I have an unparalleled view of the Blue Mosque and Aya Sofia. Calmness overtakes me. The Turks call it huzur, a kind of inner peace or contentment. Wherever it comes from, it feels like home. n

ying at the meeting point of Europe and Asia, the Turkish city of Istanbul has been attracting people in search of their fortune for centuries. Its markets and steep cobbled lanes have played host to traders since the Greeks first founded Byzantium on the site. A few name changes and a lot of history later, and now it’s one of the world’s most visited cities. Folks come from all over to explore millennia-old places of worship, and walk the spice-scented bazaars in search of an exotic handcrafted bargain. Like so many others, I first came to this ancient metropolis as a tourist, but have since made myself a comfortable living. On top of teaching English I’ve funded my life here thanks to Airbnb.com—the website that allows you to monetize your spare room, or whole apartment, advertising it to travelers from around the world. When I first moved to Istanbul, I had no idea that one day I would be in the accommodation business. I moved to the city to teach English. That was 10 years ago, when teaching English was considered the go-to career for those in search of adventure. (With the development of the internet you’ll find many other options these days.) Settling into Istanbul life was easy and fun; the city is home to a thriving bar and live music scene, and the people are warm. Having my own business was something I had only dreamed of. These were the days before the “sharing” economy had evolved, and starting a business was still a “bricks and mortar” affair. As soon as I saw heard about Airbnb, I knew I was in. I had the space and I lived in what I consider to be the perfect spot for my new venture—a quiet little residential neighborhood, Cicekci, on the Asian side of Istanbul. From here you have a direct view of the old city and the domes of its historic mosques and palaces. I loved the area and was sure that travelers were going to love it, too. So I MARCH 2015

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“How I Broke into the Paris Food Scene” By Emily Monaco

aris has always attracted artists. It’s also justly famous for its food and markets. While it was her artist’s heart that brought Los Angelesnative Terresa Murphy to the City of Light, it was food that unlocked the funds to living there full-time. Back in the 1980’s, Terresa says, “I came with my guitar; I played for money in the metro to begin with, then in cafés. Then in the ‘90’s, after much back-and-forth between Paris and the States, I got a job at the city’s International Cinematography Festival through a friend.” But it was food that really drew Terresa’s attention. “I fell in love with French food culture, particularly the artisan approach to both ingredients and cooking. It wasn’t considered artisan at the time,” she says. “It was just the norm.” The long-time vegetarian was especially drawn to Paris’ nearly 100 outdoor markets, where she could seek out fresh produce to cook with. But soon, she wanted even more; the catering business began beckoning to her, a way to share her vegetarian cooking with Paris. “I was introduced to a restaurateur called Toni Vianello in 1999,” she says. He had a restaurant in the Le Marais district, and Terresa was able to land an internship that further fuelled her desire to make her love of artisan food a viable business. But Terresa got her big break when an acquaintance from her film days hired her to prepare food, first for crew and later for a special screening. “I cooked vegetables for 70 people in my little kitchen,” she recalls. “I do not to this day know how I did it. But I thought ‘if I’m pleased with the results, I’m gonna start a little business.’” And that’s exactly what she did. In 2007, Terresa decided to take advantage of her catering success and start La Cucina de Terresa. She began by catering for events, but decided to expand by sharing her food philosophy via cooking classes, teaching people how to “undress” vegetables to break them down to their essence. Her style is to put organic vegetables at the heart of everything she cooks. None of her recipes have more than about five ingredients, but

each is full of layers of flavor and texture. Terresa found a very small niche in the Parisian food scene. At the time, there were few similar cooking classes in the city. She put together a website (Lacucinaditerresa. com) and waited for the calls to come—and they did. “A well-known cook and author, David Lebovitz, was working on a vegetarian guide to Paris and listed me on his blog,” she says. “That allowed me to get my feet on the ground.” Soon after, business was going exactly as she’d hoped…but that’s because Terresa doesn’t have expectations of grandeur. Her small apartment kitchen is the location of her cooking classes. She doesn’t hope for her client base to explode or for classes every single day. By keeping things small, she keeps her business manageable…and she gets to enjoy the rest of her Parisian life. This lifestyle has required Terresa to make some choices. “I live very modestly,” she says. “I’m not much of a consumer, except when it comes to food—good, fresh, seasonal, organic, artisan and whole foods.” Terresa chose the micro-entreprise regime for her business. This small French business regime means that she is not faced with an overwhelming amount of administration to keep her business running, as filing requirements are reduced for the micro-entreprise. “My business is tiny,

“I feel very fortunate to do what I do.”

An abundance of markets and quality produce means Paris’ artisan food scene is thriving.

with very little overhead,” she says. “The administration is pretty simple.” The third way that Terresa manages to keep her costs low is with her rent. She lives in a small studio apartment in the Aligre neighborhood. When she chose it, it was far from the fashionable district it is today. “I have lived in my quite quaint home and kitchen for a good many years, long before my neighborhood became trendy, and thus my rent remains nicely reasonable,” she says. By choosing an inexpensive neighborhood and staying in the same apartment over the course of several years, Terresa has managed to keep a low overhead, and by using her home as her workplace, even lower. Her website and blog are her only advertising, but in her small apartment, she can’t manage much more than the classes she does teach. Most of all, Terresa really loves what she does. It’s work, but it’s her passion, and Terresa is able to capitalize on the connections she’s made at her local market and share this passion. For those who would do the same, Terresa has a few words of advice. “I suppose I’d say it’s about having a clear idea of your venture, being patient and persevering, and slowly finding your way through the administrative aspect of starting a small business in France,” she says. “And, of course vision, passion, and not being afraid of failure are essential.” Through her classes and guided tours of the markets, Terresa highlights her own knowledge of those in Paris still doing things the old-fashioned, artisan way. “You can look at their hands,” she says of the market vendors; the key is to seek out those with hands that have worked the earth, those whose love of vegetables is the same as hers. “I feel very fortunate and in some ways irresponsible to be able to do what I do and not place the idea of profit on it,” she says. “Farm to boutique to table has become a viable business,” she admits. “But it’s like anything. It gets co-opted. There’s no way around it.” “I could see myself adding a little restaurant in the same way I do things now. You’re gonna’ get chipped plates, nothing fancy. I don’t want to wow people.” n MARCH 2015

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Pirates and the World’s Best Snorkeling on the Caribbean’s Forgotten Island By Wendy DeChambeau

’m standing on a floating footbridge over a piratedug canal once used as a secret ship hideaway. To my right lies the tiny island of Santa Catalina, birthed when the creation of Canal Aury separated it from the main island, where centuries-old cannons still stand watch atop a high bluff. To my left is the sleepy town of Santa Isabel, administrative center of Isla Providencia. Other Caribbean islands may be soaked in pirate lore, but Providencia is drenched in it. More than one buccaneer made this his base, perhaps the most notorious of whom was Captain Henry Morgan. Today he is most famous for the rum that bears his name, but in his time Captain Morgan made a name for himself by attacking Spanish strongholds. After years of successful raids, including the 1671 sacking and burning of Panama City, Morgan returned to England. His questionable deeds were rewarded with an appointment to Lieutenant Governor of Jamaica where he lived out his days. The island’s privacy and its distance from “civilization,” which attracted many seafaring outlaws, is a large part of why I’m here. You see, despite all that this island offers, it’s still relatively unknown among the tourist crowds, making it a perfect getaway from life’s daily demands. Also known as “Old Providence,” the island is owned by Colombia, though it actually lies off Nicaragua’s eastern coast. The island is a little more than 11 miles around, and its best feature is the water surrounding it. Providencia is the center-point of the UNESCOprotected Seaflower Biosphere Reserve, which also includes the world’s third-largest barrier reef. This thriving ecosystem is where you’ll enjoy some of the best snorkeling and diving on the planet. During my stay I’ve been able to view hundreds of creatures, including squid, rays, sea

turtles, parrotfish, tangs, and giant starfish, all within a few yards of dry land. Of course, I can’t spend all my time in the water, and that’s where those beautiful stretches of sand come into play. With four main beaches on an island of only 5,000 people, there’s plenty of room for everyone…and sometimes “everyone” consists of just my family of four. Our rented hillside cottage ($125 a day) overlooks the Caribbean, where we wake to the pastel hues of sunrise reflecting off the ocean. The nearest beach—and the one where we’ve spent most of our time—is Almond Bay, a 15-minute walk from the house. A small bar and restaurant, painted in brilliant Caribbean earth tones, sits just off the beach and offers daily specials of grilled fish and cold drinks. Other beaches include the secluded Manzanillo Bay and the well-groomed waterfronts at Southwest Bay and Freshwater Bay. The latter two beaches are home to many small hostels and restaurants owned by Decameron (Decameron.com), an all-inclusive vacation corporation. Lodging is easy to come by, though most accommodation won’t be found on the internet. Budgetfriendly posadas and rental houses are primarily found by word of mouth once you’re in Providencia. If you want to book lodging in advance, use Decameron or try the luxurious Deep Blue Hotel (Hoteldeepblue.com), which offers rooms starting at $195 per night. We chose to

“Despite all that the island offers, it’s still relatively unknown.”

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Adjoined to Providencia by a bridge, Morgan’s Head on the island of Santa Catalina has some of the best snorkeling in the world.

rent a house in advance of our stay, but it’s certainly not necessary unless you are visiting during a major holiday. There are more than enough small posadas and rooms for rent that you won’t be stuck sleeping on the beach if you choose not to make reservations in advance. The islands of the Caribbean are known for being worry-free spots, but Providencia is possibly the most tranquil of all. My greatest concern each day is which hammock to lie in. You don’t even need to rent a car, as every motorcycle, car, and truck is a taxi here. We simply stick out our thumbs and ask the cost for a ride, which is often nothing. English is widely spoken here, so you won’t need Spanish. We did take advantage of the island’s many golf carts for rent one day ($15 an hour or $80 for eight hours) so we could explore the island on our own. Providencia’s main road circles the island and often skirts the coast, offering sweeping views of a seemingly endless sea. The mottled blues range from pale turquoise to deep cobalt and every shade in between. Another day we hired a boat with a guide ($75) for an island tour, with frequent stops for snorkel breaks. Our boat captain skirted the protected Tres Hermanos keys, where seabirds raise their young, and took us to Cayo Cangrejo, a small key that is part of MacBean Lagoon Nature Park. Here we hiked to a hilltop peak, which showed off 360-degree views of the surrounding crystalline waters. Long days of water play and sun worship make me ravenous, and Providencia is a seafood-lover’s paradise. Fresh fish, shrimp, and

lobster are always available, but I keep coming back to the conch snail. Simply referred to as caracol, the large, meaty mollusk is cut into strips and stewed in a coconut sauce. Fried plantains and coconut-infused rice round out the meal, which is made complete with an icy cold cerveza. The food and drink are $10, while the lunchtime chat in Caribbean-accented English (think Bob Marley) with the friendly islanders is on the house. The locals love to tell stories of their past—and what a rich history it is. Puritans first colonized this low-mountain island by planting cotton and food crops. Eventually pirates established themselves in this sector of the West Indies and developed ties with the religious inhabitants. Most who now call Providencia home are descendants of Puritans, pirates, and slaves, and they’re fiercely proud of their heritage. As a history lover I’m enthralled by what’s been found on Providencia. Instead of viewing relics in dusty museums, I see evidence of piracy all around me. Most notable is that canal beneath my feet and Morgan’s abandoned artillery. There are remains of a fort, as well, and signage throughout the island points out important locations in pirate history. Rumors of buried pirate treasure run rampant here and have attracted the occasional metal detector-wielding treasure hunter in recent years. Any destination in the Caribbean has certain products that are costly because most items need to be shipped in from the mainland. But, with Providencia lying under the tourism radar, many services and amenities will lighten your wallet much less than the island’s more popular counterparts. A similar visit to Jamaica with the same type of rental house and activities would have cost 20% more than what we spent here. St. Croix in the U.S. Virgin Islands would have been close to a 40% increase. Providencia is a fabulous spot for a little R&R, but don’t expect to permanently relocate any time soon. The island is small with limited resources making for strict zoning and building restrictions. Also, island immigration is greatly controlled, even among mainland Colombians. Reaching Providencia is far simpler today than when Spanish warships patrolled the waters. The easiest route is to fly from Miami with a stop in the Colombian capital, Bogotá, where you can purchase your tourist cards ($25 a person). From there you’ll continue on to the island of San Andrés (2.5 hours by air from Bogotá), which is Providencia’s larger and more developed neighbor. From San Andrés you can hop a dualprop plane (book through Satena.com) for a 30-minute trip to Providencia. Or you can take a three- to four-hour journey on the catamaran El Sensation. Check Elsensation.com for scheduling and booking. n

“Rumors of buried pirate treasure run rampant here.”

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International Living Classifieds

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PROPERTY FOR SALE

Amazing New Ocean Front Home in Pedasi Panama Beautiful 5000 sq ft home located in the world renowned fishing village of Pedasi -- Panama’s quaintest beachside town. Situated in the gated development of Costa Pedasi, decorated by a leading US designer and completely furnished with a full-time caretaker, this home offers world-class luxury at an incredible price: $1,100,000. www.costapedasi.com

San Juan del Sur, Nicaragua. 3 BR home, overlooks Pacific bay. Furnished, air conditioned, 2 baths. Pool. Gorgeous landscaping. Large thatched rancho. Gardener/security. Immaculate. Reduced to 238K. Natalie Sullivan www.discovernica.com (Newkirk) Property #7607 BEST VALUE IN VILCABAMBA. Las Vegas de Vilcabamba is a collection of beautiful rural home sites located just seven minutes from the center of Vilcabamba, Ecuador, famous for its perfect weather, lovely people, and healthy living. The roads and access to water and power are provided by the developer. With prices starting at $20,000 and no infrastructure to worry about, Las Vegas offers a great value and a smooth transition to living in paradise. +593 99 1783113 (Cell) larry@accessents.com www.lasvegasdevilcabamba.com

Large 3 bed 3 bathroom condo in Natal, Brazil 2200 sqft $110,000. Beach front house in Natal, Brazil 1300sqft $79,999. 4 lots for-sale, each $12,500. Skype antony.stocks, stocks_ad@yahoo.com, +55 84 96432545 Price reduced! Was $469k, now $350k. Lovely off the beaten track beachfront Belize. Home and two apartments. www.yourhomeinbelize.com TUSCANY/UMBRIA Seeking 5 partners for gorgeous hilltop villa. Reduced to 60,000 euros/ share. For details and video: ginny@international-property-shares.com

Please contact the owner directly: Lindlee Dermody lindleecross@yahoo.com 850-855-1434 or Tedd Tennis- Panama Equity, Pedasi Office Mobile: +507 6677-8299

Stunning beachfront home near Corozal. Completely custom interior and furniture. Very affordable. Gated. Call USA 1-843-216-2588 PROVENCE-CHARMING STONE HOUSE In perched village north of Aix en Provence. 100 square meters, two bedroom, two bath home, beautifully renovated, light and airy, interesting nooks and crannies, arched medieval dining room, 3 terraces French living at its best! $375,000 Additional pictures and information please contact: kdancefrance@gmail.com

PROVENCE in 2015: www.FractionalVacationHomesOwnership.com

BELIZE LOTS FOR SALE COROZAL Income Producing Resort on the Boarder of Mexico and Belize for Sale Sandwood has four villas, two beds, two baths, kitchenette and living room overlooking the ocean. Solid income producing resort with two ocean front lots and a Palapa restaurant. For sale for $359,000.00. Owner is motivated. See Sandwood Villas at http://www.sandwood.com/ Contact Xcalak Reality at http://www.xcalakrealty.com/ Susan USA (410) 9830505 or Al Sanders in USA 952-270-4856. Ecuador - Handcrafted, eco-friendly, unique design, beachfront house. Must sell. Visit www.casazapotal. weebly.com Oceanfront 4 BR, 5 bath, 2,900 sq.ft. fully furnished condo for sale in Nuevo Vallata, Mexico. Details and pictures on VRBO #317385. $750k US. Contact: kayerick@hotmail.com

$13,500 PER LOT UP WITH POWER http://serenityparadise.com 1-863-877-0397 USA Number No Charge

Income and Retirement Opportunity for Sale in Roatan by Original Owner – Secure and Secluded. OCEANFRONT HOME - 3 Bedroom/3 Bath Villa with built-in 2BR/1Bth Apartment - fully furnished with split unit air conditioning. 2014 Rental Income 35,000 plus 4 month Vacation for owners during high season. Offered at $450,000.00 USD. Visit www.vrbo.com property #336773 pkuhlmann@netcommander.com Beautiful property lowest price US$35,000 in Mountains of Ecuador, see www.ronkarin.us

Costa Rica’s Final Frontier. Pristine beaches, national parks/wildlife, active expat community, gourmet restaurants and more. Home sites from $40,000. Contact info@pathfinderinternational.net to get more details and find out how you can enjoy a four-day stay in this region for $299. Huatulco Property Tours for $399. This hidden corner of Mexico is an unspoiled gem, with 9 bays, 2 marinas, 36 beaches and 330 sunny days a year. On this custom property tour you’ll see a range of properties to suit your budget…and get plenty of time to kick back, relax and enjoy the laid-back lifestyle of this locale. E-mail info@pathfinderinternational.net to find out more. MARCH 2015

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PROPERTY FOR RENT/ TRADE/TIME-SHARE

PUBLICATIONS/MEDIA OFFSHORE LIVING & INVESTING and HOW TO LEGALLY PROTECT YOUR ASSETS Comprehensive guides for international investing, offshore banking, dual citizenship, privacy, foreign residency, international trusts, tax minimization, asset protection, risk management, portfolio diversification, foreign currencies, estate planning, and more.

Provence – Private Hideaway in Menerbes This secret hideaway awaits you in a beautifully appointed apartment in Menerbes. The apartment faces the Luberon and has a lovely view of the mountains from the terrace. This 2-bedroom apartment is ideal for those who want to get a feel for Provencal life. Located in the heart of the village it’s ideally situated to immerse yourself in the daily rhythm of Provencal village life. While being centrally located, the apartment also offers a private terrace from which to enjoy the spectacular sunset of the Luberon. For more information check out www.VRBO.com/489321

By Oxford Club Wealth Advisory Member, former judge, Top 100 Trial Lawyer, International Attorney, & author David Tanzer. For Orders: www.DavidTanzer.com For Consultations: +1-720-293-2272

SERVICES

Thinking about investing overseas? Buenos Aires, the Paris of South America • Properties starting at under U$ 100.000 • No restrictions for foreign investors • Assistance with property purchase from A to Z • Comprehensive property management services • ROI, short-term and long-term rentals myArgentinahome Maximiliano Götz, Founder / CEO US +1 530-324-BSAS (2727) info@myargentinahome.com www.myArgentinahome.com Panama Relocation Tours 6-Day All Inclusive Tour Discover Why So Many People Are Moving to Panama www.PanamaRelocationTours.com Your Swiss Company, your Swiss Trust, your Swiss Bankaccount. Info : www.swisscomp.com Protect your digital and personal privacy! Resellers Wanted!! www.ssprivacy.com

French Art de Vivre and Normandy’s Cultural Highlights Tour Château de Courtomer, France April 17-23, 2015 Join us for an exclusive tour of the most attractive tourist sites in France including Versailles, Giverny Monet’s Gardens, the D-day beaches, the Bayeux Tapestry, Sées and its famous open-air market and cathedral, the National Stud farm Haras du Pin. Experience these charming and historically important regions of France and enjoy having a magnificent chateau as your leisure base and home away from home for the duration of the trip. Chateau de Courtomer, a grand monument of the Ancien Régime, is an exquisite 18th-century country house, set amidst its own parklands, fields, and pastures in bucolic Normandy. Places are limited so please don’t delay. Contact Aude at acourtomer@gmail.com or call +33(0)6-49-12-87-98 today for more details. www.chateaudecourtomer.com

Belize Paradise Tours has been helping people like you discover the country of Belize for 6 years now. When making such an important decision, make sure you are working with a reputable company that has experience and knows the country. Travel around the country with one of our small groups and discover the Paradise of Belize. You can easily move to a tropical climate where food, housing and healthcare are very affordable, and English is the official language.

TRAVEL

Your tour includes an informational seminar with government officials, attorney, bankers and more. Get all the information you need straight from the source.

GPS Costa Rica, Uruguay, USA maps www.qualitysurplus4less.com ECUADOR EXPAT JOURNEYS 10 Day Tour and Orientation to Expat life in Ecuador: Spanish, Culture and Travel! info@ecuadorexpatjourneys.com

We are not developers and have no property to sell you. We visit a few properties based on your interests and popularity with our previous guests. Our goal is for you to experience as much of the country as possible. We visit the areas of the country most popular with expats.

Expedia Quoted $3,365.46...I paid $799. 4&5-Star Resorts. $298-$799 per week. Worldwide network. Video reveals everything. www.Cheap5StarTravel.com

Visit our website for tour dates, itineraries and testimonials at : www.BelizeParadise.com Email: info@BelizeParadise.com and follow us at: Facebook.com/BelizeParadise

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YOUR MAIN CONTACT IN ECUADOR ROBERTO MORENO ATTORNEY AT LAW roberto@morenodidonato.com Cellphone: + (5939) 9970-8798 IMMIGRATION CUENCA TITLE SEARCH MANTA PURCHASE OF PROPERTY QUITO REAL ESTATE TRANSACTIONS LOJA TITLE SEARCH SALINAS GENERAL INSURANCE IBARRA POWER OF ATTORNEY JAMA LEGALIZATION OF DOCUMENTS CANOA INVESTMENT BAHIA BANKING VILCABAMBA FAMILY LAW MINDO CORPORATE LAW BAÑOS GENERAL LEGAL ADVICE TRADEMARKS AND COPY RIGHTS

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Business OppOrtunities

CREATE EXTRA INCOME!! Looking for a reputable online business? Is Health & Wellness important to you? Flexible hours, free training, great income and incentives, real support. Please visit www.livingthedream123.com

FINALLY REVEALED: The EASY way to fund your traveling or living overseas. Please visit http://www.clkmg.com/magnet/intliving Easy way to make money anywhere in the world with proven success!

Has the possibility of living, retiring, or investing abroad piqued your curiosity? Trying to make retirement savings last? Wonder why Belize has been receiving so much attention? It’s time to live for a fraction of the cost in a tropical paradise. Elite Tours Abroad offers small-group tours to help you narrow your search through education and exposure. We offer tours. We do not sell property. No sales pitches. No pressure.

eDuCAtiOn

Come see the country, meet the professionals, and relax while someone handles the legwork for you.

Low Cost Study Abroad Worldwide WWW.CENTERFORSTUDYABROAD.COM

Visit online or call toll-free: www.EliteToursAbroad.com 1 (877) 805-0502

RediSurge Energy Technologies is offering distributorships in the USA and abroad. Be the first to introduce a powerful Energy Management System where you live or want to live! No previous electrical knowledge needed. Free training & amazing dealer assistance network. This product has successfully been introduced in the U.S., Latin America, and the Caribbean. www.redisurge.com, info@redisurge.com, (985) 277-9882 Panama Profitable business with living quarters between Boquete and David: hellmutandlindap@gmail.com Turn your passion for travel into a lucrative - do from anywhere business. www.globalvacationsincome.com

$2,000 daily profit 70 Better Investments than stocks. FinanceFeast.com

Home or Abroad DRINKING WATER CONCERNS? In-home filtration devices. Purer, less expensive than tap, bottled or delivery. getpurewater@gmail.com www.multipureusa.com/tsally

Trading only few hours Russell 2000 futures using algorithm indicators. No previous knowledge is required, trading futures is a skill. Guarantee trading live in 2 months. Developed by professor/engineer/pilot. Free training in exchange for profit sharing. Watch video in our portal web site www.freetrainingrussell2kfutures.com 678-701-9300 Baby Boomers Retire anywhere you want – Not because you have to! All you need is a laptop to make money anywhere in the world. 98% Commissions, Free Information www.KissTheBossGoodbye.com

CLASSIFIED ADVERTISING RATES

$4.35 per word, CAps and bold are $0.75 extra per word. to box your ad is $30 and to add an image is a $120. International Living subscribers receive a 20% discount. Deadline is six weeks preceding publication. prepayment must accompany every classified ad. to place a classified ad please contact elaine Finnegan, advertising@internationalliving.com. For even more worldwide opportunities visit our new classifieds website at http://classifieds.internationalliving. com. use this special promotional code (20iL0315) when you check out to avail of your 20% subscribers discount (code valid for March only).

All listings are accepted on a first-come, first-served basis. International Living reserves the right to disqualify any listings it deems unsuitable. International Living does not endorse these organizations or their respective products, services and programs. In addition, International Living shall not be responsible for any and all liability, including negligence, that may arise from a member’s use of the advertisements. “Caveat Emptor” applies – let the buyer beware. MARCH 2015

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IL’s CaLendar of events Panama: Your Perfect Retirement Within Reach Panama City • April 9 – 11, 2015

anama is a small country that packs in a lot. From the vibrant social scene of Panama City—with its multitude of bars and fine dining at affordable costs—to the peaceful mountain serenity of Chiriquí province and the tropical paradise of Bocas del Toro, this retirement haven can cater to any lifestyle and budget. As if Panama’s low cost of living weren’t enough of an incentive to move here, the country’s comprehensive pensionado program enables you to get discounts on just about everything, from restaurants to entertainment to health care. And if it’s health care you’re

after, you can do much worse than move to Panama; the country is home to some of Latin America’s most renowned medical facilities. And health care in the country’s urban areas is both world-class and highly affordable, as IL Panama Correspondent Linda Card found out when she moved here. Doctors routinely give their personal cell-phone number to patients, and most medications that command high prices in the States cost relatively little in Panama. Many don’t even require a doctor’s prescription. It takes more than health care to make a place home, though, and fortunately Panama delivers

Day Trips from Panama City Panama is known for its famous Canal, but there is so much more to this country than this engineering marvel. Panama City has great nightlife, a thriving culinary scene, and a varied cultural landscape. Beyond the city lies a country that has everything to offer—from mountains and valleys to beaches and islands. Best of all, the country is so small that day trips are easy. Rent a car and drive an hour or two west of the capital to reach the Arco Seco district, home to beautiful beaches such as Coronado, Santa Clara, and Farallón. If the beach isn’t your thing, how about the rainforest? A halfhour from Panama City’s center you’ll find Parque Soberanía and Summit Gardens, where you can play golf at the championship 18-hole course or visit the famous bird-watching trail known as Pipeline Road. Look out for toucans, howler monkeys, peccaries, sloths, and much more.

To experience one of Panama’s best cool-weather locales, drive about two hours—or get a $4 air-conditioned bus—to El Valle. One of the world’s largest inhabited craters, El Valle, or “The Valley,” sits at an elevation of about 2,500 feet. The local hot springs are great for relaxation, perhaps after a day of hiking or horseback riding. The market is a must for handicrafts, flowers, exotic fruit, and more. Other popular attractions include the waterfalls, butterfly and orchid farms, amphibian center, petroglyphs, and the Campestre Hotel, home to the world’s only square-trunked trees.

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The beautiful mountain village of Boquete is just one of the many treasures that awaits you in Panama. in that regard. The country’s sumptuous climate and high quality of life have fostered a large and friendly expat community over the years; you’ll find fellow expats in many areas. Furthermore, Panama uses the U.S. dollar. This not only saves you the hassle and expense of converting your funds, it also lets you see just how much further your money goes in this terrific little country. If this sounds appealing to you, you can find out all you need to know to live your perfect Panamanian retirement at our Fast-Track Panama: Lifestyle and Opportunity Conference in Panama City next month. A range of respected experts will be present to guide you through every facet of living in Panama, from getting the best out of the pensionado program, to finding the best real estate at affordable prices, and securing residence. International Living Editor Dan Prescher—who has many years’ experience living and traveling throughout Latin MARCH 2015

America—will emcee proceedings, while IL Panama Editor Jessica Ramesch will share her inside advice on how to thrive on a budget in Panama. Other speakers will include offshore and asset-protection expert Bob Bauman and Panama real estate guru Margaret Summerfield, who knows where the best future buying opportunities are. For more information, visit: Intliving.com/events. n

upComIng events Join us at our 10th Annual Ultimate Retire Overseas Conference in Cancún, Mexico, from June 3 – 6 to find out all about a range of destinations where you can retire like royalty for less than $2,500 a month. From the Orient to the Andes, we’ll explore your best options in-depth and introduce you to our best contacts on the ground all over the world. For more information, see: Intliving.com/events.

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GLO BA L P R OP E R T Y NO T E S

Artistic Escapes Around the World

populace that appreciates art, a local government that supports artistic endeavors, and a network of galleries to show your work…these are key ingredients for artists choosing a place to live. Surroundings that inspire creativity, whether through architecture, natural beauty, or indigenous influences, are also important. Finally, affordable accommodation and studio space are vital as well. A place where you can live well on a little income and concentrate on your work. Fortunately, even as artists get priced out of metropolises like New York City and Paris, other cities have stepped in. These havens can be found around the world. And even if you’re not a painter or sculptor, these cities are great for those who love and appreciate art…not to mention perfect places to sample new styles and snap up unusual pieces at bargain prices. n

Cusco, Peru, high in the Andes Mountains, has art in its bones. In the colonial era of the 16th to 18th centuries, the indigenous style of the native Inca was blended with European religious iconography by native, mestizo, and European-born painters to create the unique Escuela Cuzqueña style of painting. Catholic leaders actively encouraged this in order to pass on religious lessons to the native population…and convert them. The main cathedral in Cusco is full of examples of these works. The San Blas neighborhood, the colonial heart of the city, is the epicenter of the expat and art scene in Cusco. There are many galleries for modern art. And artisan workshops for indigenous arts and crafts like tapestries and jewelry continue to be an important aspect of life in this area. A furnished room in San Blas, with huge windows on two sides (great light for your painting or to admire the artwork you’ve 42

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picked up), and with its own bathroom but with a common living area and kitchen shared with housemates, is available for $250 a month. See: Sacredvalleyrentals.com. The bordering neighborhood of Lucrepata has many housing options, with quick access to the charms of San Blas. A furnished, modern two-bedroom apartment will run you $800 a month. Go to: Sublet.com.

Barcelona: The AvantGarde Artistic Wonderland If you’re going to call Barcelona home, you couldn’t do much better than the Gràcia district. Although the eccentric and modernist work of architect Antoni Gaudí can be found all over the city, much of it is concentrated in this area, including the famed Parque Güell. His whimsical buildings, not to mention his famed Sagrada Familia cathedral still under construction, are works of art, often covered in multi-colored mosaic tile.

Also found throughout this neighborhood: independent art galleries showcasing modern works. And you can be sure there are plenty of hip bars and sidewalk cafes for deep discussions with your fellow art lovers. A newly renovated one-bedroom furnished apartment in the Gràcia district is available for $919 per month. Details here: Key2bcn.com. For $688 a month, you can get a loft apartment with a large roof-top terrace. It’s fully furnished. Go here for more information: Shbarcelona.com.

Penang, Malaysia: A Hotbed of Street Art Malaysia may not be the first country that comes to mind when it comes to cutting-edge art. But George Town, a colonial city on the island of Penang, is a place where expat artists thrive. Galleries, limited-run venues to show art,

Cusco, Peru: South America’s Under-the-Radar Art Destination

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San Miguel de Allende: A Colonial Charmer Where Art Is Embraced After World War II, the U.S. government extended a free education to veterans as part of the G.I. Bill. Some decided to head south of the border, to the colonial town of San Miguel de Allende, to learn art at illustrious institutions like the Escuela de Bellas Artes. And thus began the town’s reign as a center for art and expat living. The ambience, the vivid colors and stately style of Spanish colonial buildings, the moderate climate, the many shops and galleries full of arts, crafts, indigenous and indigenous-inspired pieces, the leisurely strolls and outdoor restaurants of the historic district, all put you in the mood to create or just enjoy the vibe. A furnished one-bedroom apartment, in the heart of all the action of the colonial district, is renting now for $650 a month. A two-bedroom unit in the same building is $900 a month. Details here: Atenearealty. com.

Berlin, Germany: The Home of the New Bohemians

and other spaces offer opportunity to exhibit your work—or view that of others. And the community supports the arts wholeheartedly. The month-long George Town Festival (which also covers film, music, and other disciplines) brings artists from across Asia, the U.K., and the U.S. Murals and street art on public thoroughfares is also a favorite here, with Chinese tourists particularly taken with this form of expression. A furnished one-bedroom in town will cost you $500 a month. If you’re interested in something bigger, you could try a furnished five-bedroom, 5,000-square-foot condo in George Town for $1,931 a month. There are plenty of spots to work. Go to Airbnb. com and Propwall.my for more listings.

Berlin has been no stranger to art throughout its history. But a major movement blossomed after the fall of the Berlin Wall. Today the city is estimated to have 450 galleries, 150 nonprofit artist spaces, and 20,000 artists of all nationalities. It’s no wonder. Rent is cheap compared to other European capitals. And government grants for artists are available. The Kreuzberg neighborhood has always attracted artsy types, and its walls are covered in street art. It’s also home to a big Turkish community, which means great food for late morning meals (after you’ve been out until late enjoying the neighborhood’s famed nightlife as a good artist should). A one-bedroom apartment in Kreuzberg, fully furnished, will run you $982 a month. Check: Homeforrent.de. A furnished studio apartment in the same area is listed at $751 per month. This and more listings at: Berlin99.com. n

Living Near a World War II Battle Site In the aftermath of World War II, the world and its people would never be the same again. Battles were fought in every corner of the globe…many in scenic spots that today are beautiful places to live. After the landings at the Normandy beaches, the Allies captured heavily-fortified Cherbourg after fierce fighting. Today it has a bustling waterfront with a marina full of sailboats and a city center with stores, restaurants, and welltended parks. A three-bedroom townhome in the city center is $116,000. Go to Gimazaneimmobilier.com. After the Allied landings in Sicily, the race was on to capture the port of Messina, vital for the upcoming invasion of mainland Italy. Patton came out on top, much to Monty’s consternation. A one-bedroom apartment in Messina, a few minutes’ walk from the seaside, rents for $811 a month. On the sale side is a two-bedroom apartment for $190,000. Go to Sublet.com and Sindonaimmobiliare.it. The Allies and the Japanese clashed at Okinawa in what would be one of the bloodiest battles of the Pacific war. The island today is a popular vacation spot due to its subtropical climate and beautiful beaches. A three-bedroom apartment is listed for rent at $633 a month, unfurnished. A one-bedroom on the beach is $801. See: Okistyle.com. The Ardennes is a vast, dense forest with steep ridges and rolling hills that covers parts of Germany, Belgium, France, and Luxembourg. As the Allies pushed toward Berlin, the Germans once again tried to use the Ardennes for a surprise counterattack. But they were beaten back during what became known as the Battle of the Bulge. The Ardennes today is a good spot for hiking, horseback riding, and mountain biking. A good home base for your expeditions could be Bastogne. The town is a major crossroads for routes in the region: the reason the Germans wanted it. A three-bedroom apartment in the town center, unfurnished, rents for $832. See: Immobastogne.be.

For information on property for sale from around the world, visit www.intliving.com/propertynotes MARCH 2015

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tHe LA St W OR D By Amanda Walkins

Relaxing into the Pace of Island Time

tanding knee-deep in clear Caribbean blue water looking back at the white-sand beach and the swaying palms, I thought it over. I was on vacation, but what was stopping me from living here? Rent here was a fraction of what I paid for my apartment in Washington, DC, the cost of living was low, and I hadn’t felt this relaxed in years. So…five days after arriving on the Caribbean island of Roatán, 30 miles off the coast of Honduras, my vacation became a new life. I forgot about that return flight and instead settled further into the sand. I felt at ease and welcome in this community, and I realized it was because people were taking the time to actually chat and get to know me. Nobody was rushing; nobody was too distracted by emails or phone calls. Everyone just seemed so calm. And then I realized what was so appealing: everyone was living on island time. While I loved the concept, it took some time for me to adjust to living on island time. I didn’t take much with me from my old life. Just a suitcase. But I guess it still took me a while to ditch some old habits. Back in New England where I grew up, harsh winters had taught me to walk quickly from Point A to Point B without stopping for anyone or anything. I would get stressed if things weren’t done straight away and I couldn’t tick them off my never-ending to-do list. In the U.S. I was frequently annoyed with delays. Even the most trivial of things like waiting in a long line for coffee irritated my need for efficiency. I found myself racing down escalator stairs to catch the metro train to work in Washington, DC, despite the fact that another train would follow within three minutes. I constantly felt hurried, desperate to get to the next place, to speed through and complete all of my tasks. I had to-do lists to check off and goals to be achieved. What 44

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I didn’t realize was that I was wasting the time it took to complete those tasks rather than enjoying that time. Like I say, it took me a while to shake the stress-inducing habits of home. On Roatán, expats and locals alike operate on island time. Island time is a state of mind, something caused by the timeless nature of the ocean all around, and it’s taught me to ask “what’s the rush?” I’ve learned the value of living in the present. Why worry about something that hasn’t yet happened when there are so many wonderful things happening right now? When I first moved to Roatán, I fretted over going to the bank, concerned that the queues might eat into my time. After a while, however, I realized that spending a while in the air-conditioned bank was a nice respite from the midday sun. I now plan my trips to the bank for just after noon, when the sun is hottest and when I’m ready for a nice long chat with whomever else is in line with me. The girls who work at the bank talk to me for a few minutes before starting my transactions. In Roatán, I am not just a number, not just another person in line tapping my foot and sighing in exasperation. I am a neighbor and a friend and we exchange small talk and jokes before getting down to business. Going to the bank is no longer a task for me to begrudgingly undertake. It is a pleasant interaction and a chance to catch up. Living on island time reminds me to look up, to make eye contact, and to smile at everyone. Island time allows things to happen in a natural timeframe; even if something doesn’t get done today there’s always mañana (tomorrow, later…). With the warm weather and cool Caribbean breeze, I never have to run for cover from a blast of cold wind or snow.

And free from the hustle and bustle of the big city—no streets or subways packed with people racing to work, no roads backed up with angry commuters—life in Roatán is pervaded by a sense of calm that touches everyone who lives here, one of many things that makes it such a great place to live. No longer feeling the constant need to rush, I look around, enjoy the scenery, and smell the roses as they say. I didn’t change who I am; I simply rediscovered who I really was after being caught up in the stresses of working life in the States. Living on island time reminds me to appreciate the beauty around me. Walking too quickly means missing the hummingbirds dancing around the bright red hibiscus flowers. Walking too quickly might make me miss the baby chicks scurrying under the bushes next to my feet. There are so many shades of blue filling the endless sea and sky that you need the extra time to appreciate it. With its profusion of beautiful plant and animal life and sumptuous, sun-drenched beaches, expats here often find their stresses simply melting away. Living on a small, tropical island has taught me to question the need to rush through life that’s so ingrained in us. My life is a journey, not a series of to-do lists. My daily life in Roatán is filled with joy and wonder. It didn’t used to be, simply because I was moving too fast. You don’t need to live on a tropical island to slow down and savor your life. If you’re caught up in the cycle of working to earn more, to spend more, to have more, but never finding the time to enjoy any of it…just set your inner clock to island time. It’s helped me see who I was, and who I want to be today. And I love being a person who stops to see the hummingbirds and smell the hibiscus. n

“You don’t need to live on a tropical island to savor life.”

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