U.S. investors looking for a way to diversify their portfolios—and maybe find a new place to live in the process—are increasingly looking to Central and South America, according to ECI Development, a real estate and hospitality company that develops properties in these countries.
According to an ECI survey, these nations are showing up on people’s wish lists—as both good places to invest in and move to. And despite the different factors at play in people’s decisions about where they live, the high cost of living in the United States is definitely part of the thinking.
“Life in the United States was already expensive, and the current inflation has only exacerbated this for many people. Those who want to move to Latin America are looking for a more affordable cost of living, as well as more adventure in their lives. Luckily, Latin America ticks both boxes,” said Michael Cobb, the company’s CEO, in a statement. “Investors will always prioritize cost, so it is not surprising that the cost of labor is an important factor for Americans looking to buy and invest in property in Latin America.
“Our survey demonstrates that lesser-known countries like Belize, Panama and El Salvador are not yet getting the attention they demand,” Cobb said. “Real estate in these countries, and similar countries like Nicaragua and Honduras, offer value and growth multiples that better-known locations like Brazil or Mexico cannot match. In fact, Belize is currently showing the same pattern of growth Costa Rica experienced in the early 2000s, namely surges in tourism, international investments in hotels and resorts, and increasingly simple residency programs for expats.”
The same 10 countries—in almost the same order—came up when people were asked where they would invest their money and where they would like to move to in Latin America. Ranked from lowest to highest, the following are the most favored countries for investing among 500 United States residents, ECI said. Brazil, Costa Rica and Mexico were also the top three picks for those considering moving to Latin America.
10. Belize
7.- Peru (A three-way tie for seventh place)
7. Panama (A three-way tie for seventh place)
7. Chile (A three-way tie for seventh place)
6. El Salvador
5. Colombia
4. Argentina
3. Mexico
2. Costa Rica
1. Brazil
Source: The Financial Advisor (https://www.fa-mag.com/news/top-10-south-and-central-american-countries-to-invest-in-71206.html?section=3&page=10)
