2A — September 23 - October, 20, 2022 — M id A tlantic Real Estate Journal
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M id A tlantic R eal E state J ournal Publisher, Conference Producer ..............Linda Christman AVP, Conference Producer ...........................Lea Christman Publisher ........................................................Joe Christman Conference Producer ...............................Jordaan Van Oort Editor/Graphic Artist ......................................Karen Vachon Contributing Columnist ........Kathleen Peddicord, Live and Invest Overseas Mid Atlantic R eal E state J ournal ~ Published Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal 117 HMS Halsted Dr., Hingham, MA 02043 USPS #22-358 | Vol. 34, Issue 9 Subscription rates: 1 year $99.00, 2 years $148.50, 3 years $247.50 & $4.00 single issue - plus postage REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Phone: 781-740-2900 www.marej.com
Kathleen Peddicord
As U.S. Markets Remain Overvalued, Look Beyond U.S. Borders For Discounts Of Up To 87% he United States is one of the most overvalued property markets in the world. Pent-up demand, limited housing supply, and record rates of inflation have worked together to buoy prop- erty values from coast to coast. Prices are up nearly 19% on average over the last year. For those looking to relocate within the United States for a better quality of life in retire- ment, the options are limited. Prices in the traditional go-to spots of California, Florida, Arizona, and the Carolinas are increasingly out of reach. Meantime, particularly ap- pealing global markets offer straight-up bargain opportu- nities. Specifically, in some of the world’s best places to be a retiree, you can save 50% to 80% (and more) off what you’d pay in top comparable U.S. retirement spots. Texas Vs. Colombia For three years running, U.S. News and World Report T
ranked Austin, Texas, the top choice for city living in the United States. Austin is fa- mous for its live music scene, and, in recent years, it has emerged as a smart, innova- tive city. Other attractions for retirees include its wide outdoor spaces and arts scene. If this is the kind of lifestyle you’re after, we’d suggest you also take a look at Medel- lín, Colombia—a city that’s transformed itself over the past two decades and con- tinues to push forward. In 2013, Medellín was named “Most Innovative City” in the world. Popular among expats for its springlike weather
continued on page 16A year-round, it offers a healthy lifestyle with plenty of green space and the opportunity to spend more time outdoors. With dozens of museums and art galleries, botanical gardens, and a literary scene, Medellín is one of the most culturally appealing cities you’ll find south of the border. Cost to own in Austin, Texas: Over the past year, homes in Austin have risen by an average 35%. Average per-square-meter price in downtown Austin is $8,300. A luxury two-bedroom, two-bath condo of 140 square meters in a nice location, close to bars,
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