When thinking of overseas property for investment purposes
the British have invariably and predominantly looked to
Spain and France in the past. More recently Bulgaria,The
Czech Republic, Poland, Latvia, Croatia and with their
accession into the EU on the first of January 2007 Romania
now seems a viable option and alternative. For some of
the more pioneering Americans Eastern Europe is also a
favourable choice for affordable real estate, offering
a low cost and comfortable standard of living. Furthermore
the majority of the emerging economies within the Eastern
bloc and real estate markets are pro active and working
hard to attract foreign investment.
A growing number of US citizens are choosing to move
north to Canada where real estate can be cheaper,taxation
can be lower, healthcare is far cheaper and the standard
of living as high as in America. Countries such as Mexico,
Panama and Belize are well known as lower cost locations
for US citizens seeking an affordable overseas location.
Living costs, real estate and taxation are all low. However
the main consideration is the affordability and accessibility
of healthcare and of necessary treatment and care, each
of the three countries mentioned fails in one way or another.
Furthermore, younger Americans may struggle to find decent
employment or education for their children in Mexico,
Panama or Belize.
The British have always been obsessed with property and
the expression 'an Englishman's home is his castle' has
never rung more true. With the cost of housing within
the UK out of the reach of most first time buyers and
those first time buyers continually vying for property
with buy to let investors more of the early twenties are
putting down roots in more affordable countries. As always
though anyone considering these locations are advised
to act sooner rather than later.
The Sofia Echo in early January reported that developers
have worked on entire apartment and villa complexes in
smaller and less popular regions with significant funds
allocated to such projects. Investors, it seems, showed
more interest in getting a new apartment close to a major
city, rather than an old house to refurbish. as a result
of continual development the price of property in such
regions remained almost unchanged throughout 2006. In
some regions, the price of property even went down. Varna
region registered a 15 per cent price decrease. The average
price per square metre in the region dropping from 600
to 510 euro. Supply also brought down the prices of property
in the Bourgas region.
With the advent of cheap air flights this has further
enhanced the idea of a dream home in the sun. However
can accessibility be correlated directly to sustainable
investment potential. Thailand is approximately 10000
miles from the US and approximately 6000 miles from the
UK, With flying times of approximately 21 hours and 11
hours respectively. Perhaps not suitable to the masses
and ensuring a restricted and select ex-pat presence.
Thailand has three main seasons per year. Northern climatic
conditions are preferred by Thais countrywide as the coolest
and most comfortable. Generally northern temperatures
are between 3-5 degrees lower than the rest of the country,
Chiang Mai city is a favoured location and the climate
is perfect for visitors. Cool mountain air and bright
sunny days ensure that this Shangri-la setting will remain
a favourite for many years to come. The North also differs
during the rainy season and continuous rainfall is quite
rare. It will usually rain heavily for a period between
30 minutes to one hour, once or twice a day and soon dries
up after the sun appears. The area is then left feeling
fresh and cool. The average temperature throughout the
year being approximately 26 degrees.
Chiang Mai has a significant expat community and some
figures put the number of "farangs", or westerners
at 5,000. Chiang Mai is much of what Bangkok is not. Instead
of the flatness of the Maenam Valley one is treated to
ranges of forested mountains that sweep northward to Burma.
Hill tribes in colorful costumes are common sights hawking
their handicrafts around the night market. As Bangkok
has no definite city centre, Chiang Mai's is clearly defined
by a moat.
Chiang Mai is certainly easier to negotiate than Bangkok.
Walking, bicycling and motorcycling are realistic alternatives
to driving. Or if you prefer, tuk-tuks are prolific. A
relatively well organized system of songtaews (pickup
trucks with benches and canopies) run a sort of shared
service around greater Chiang Mai. Some can be hired much
as a taxi service. Chiang Mai stands on the banks of the
Maenam Ping (river) and quite a number of good restaurants
are perched along the banks.
There is also a strong emphasis on healthcare and Chiang
Mai has several quality hospitals including Chiang Mai
Ram,Chiang Mai University and the McCormack Hospital.
Along with the presence of US and UK consulates. ATMs
are everywhere and currency exchanges are commonplace.
Interest earned on fixed deposit accounts is taxable at
15% and collected by the banks.
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