Archive for the 'Places' Category
Baby Boomers And International Real Estate in Central America
Much has been made of the ‘baby boomer’ generation when analyzing future buying trends in many markets worldwide. While this generation is usually characterized as North American, the same demographic pattern is playing out worldwide. Baby boomers began turning 50 in 1996 and the number of Americans 55 years and older will skyrocket to 97 million by 2020. It is said that over the next 20 years the baby boomer generation will likely constitute the largest potential market ever for real estate products, especially second homes and timeshare/fractional ownership offerings.
Products outside ‘developed’ countries are increasingly attractive to baby boomers in light of retirement plan issues and concerns over government ability to support aging populations. The recent financial crisis has shriveled nest eggs and reduced pensions funds so an added factor is the need for many retirees to lower their cost of living. For many this means leaving the US or Canada, bypassing the traditional ‘sun-belt’ states such as Florida, Louisiana, New Mexico and Texas, and seeking out countries overseas where the cost of living is lower and the real estate more affordable.
Given the region’s close proximity to the US, Central American countries are attracting increasing number of baby boomers interested in the kind of lifestyle on offer. The region is known for low living costs and affordable real estate. In its research of the region, overseas property site Reveal Real Estate analysed asking prices for master planned communities across the region and found Nicaragua real estate listings to be the lowest in price, Costa Rica the highest with Panama and Belize both falling in the middle of this range. The baby boomer demographic are a sophisticated group of consumers with a long list of due dilligence issues. Many are making a lifestyle choice (in addition to an investment decision) so consideraitons such as security, sense of community, ready infrastructure, quality services and amenities are important.
Stanley Park – Vancouver British Columbia
It was our 21st Anniversary last week. Last year for our 20th we went to Whistler in the Rocky Mountain’s of British Columbia, Canada. Although we had pretty nice weather it really wasn’t the best time of year to go. It is kind of ‘in between’ seasons so a number of restaurants close for renovations and to get ready for the ski season. Plus the mountain is closed for about a month for the same reason so you can’t get up for hiking or sight seeing.
This year we decided to try the city instead. We stayed downtown at the Marriott Pinnacle. It is a beautiful hotel. Plus we had great weather on Saturday. So, we rented a couple of bikes and rode all the way round Stanley Park. We can now understand why people say this is one of the most beautifuo parks in the world!
