In this week’s Your Overseas Dream Home Digest…
- The Big Trend That’s Transforming the Riviera Maya
- This Beach Town is Evolving into a True City
- High-end Homes Along Mexico’s Caribbean Coast
- Your Questions Answered on Buying a Farm in Uruguay and Managing Taxes Overseas
And that’s a wrap…
Last night, The Gathering XI, the annual event for Lifetime members of my Real Estate Trend Alert (RETA) group, concluded in the booming beach city of Playa del Carmen.
Over the last few days, members have gotten the low-down from every corner of my RETA beat, from Costa Rica, Portugal, Panama, Uruguay, Nicaragua, Spain, and beyond. And of course we had deals to talk over…including a blockbuster new RETA members-only deal.
During The Gathering XI, I gave attendees a sneak peek of the latest RETA-only opportunity. It’s a chance to own in a perfect location in the heart of Playa del Carmen…in an utterly unique best-in-class community with resort-level amenities on a scale unmatched…and see expected gains of $201,600 five years after delivery. (You have to be a RETA member to get in on this deal when it opens soon…if you’re not yet a member, you can join here.)
Over the coming days, I’ll be sharing some photos and videos from The Gathering XI, as well as details of this incredible new deal here in Playa. Stay tuned for those.
But first…
I’m in the white shirt talking with attendees. The Gathering is one of my favorite times of the year…a chance to meet and swap stories with RETA members and my contacts from around the world.
My team and I weren’t just on the Riviera Maya this week for The Gathering XI…we were also scouting…exploring…looking for new opportunities.
In fact, over the past week, the entire team fanned out across over 80 miles of Caribbean coastline, from Cancun to Tulum and virtually every major destination in between.
Here’s a roundup of what we found, starting with the headline news…
The Big Trend That’s Transforming the Riviera Maya
As I say, over the past week, my scouts have been up and down this coast.
Some have been in Cancun. Others have been on the island of Cozumel and in the chic beach town of Tulum. Some were in Puerto Aventuras…others in Puerto Morelos…still others in Akumal. And we’ve all used Playa del Carmen as our base.
Here’s our major takeaway: The Riviera Maya is in the midst of a stunning transformation.
Destinations here are evolving. Luxury, refinement and sophistication are bywords. Astonishing new residential communities are being rolled out. New resorts too. There’s massive investment in new luxury commercial projects.
The Riviera Maya is undergoing an evolution into a fully fledged luxury destination.
Earlier this week, I sent you an initial report on my team’s discoveries from Puerto Cancun and Cozumel, and what this means for us as property buyers and investors. Read their findings here.
I also send an update from Playa del Carmen, the city at the heart of this coast. You’ll find that here.
Playa del Carmen is vibrant, booming. Its stunning coastline is increasingly attracting wealthier folks…and that’s an incredible opportunity when you can find the right deal, as I explain here.
This Beach Town is Evolving into a True City
It’s not just Playa del Carmen that’s evolving…
This is what my scout Ciaran Madden put in our Scouting WhatsApp group earlier this week after putting boots on the ground in the renowned beach town of Tulum.
“Tulum is alive…bustling… The roads, including the main avenue Coba, are constantly improving, the supermarkets have gone upmarket, and the demographics feel like they’re changing. There are more families. Young kids. It’s incredible to see how much Tulum has changed since The Gathering X.”
Ciaran shared this photo in our scouting group from Tulum. The beaches here boast some of the whitest sand in the world.
When I first visited Tulum, it was one street and not much else. Today it has its own airport…its own train station. The transformation of Tulum from a town into a true city is accelerating, reflecting the wider transformation that’s occurring along this coast.
This is great news for RETA members who bought in past members-only deals here.
I’ve brought a number of incredible Tulum deals to my RETA. One of them was in the community of Samsara. While in Tulum, Ciaran recorded a video walkthrough (below) of a condo that’s now being delivered in Samsara. RETA members could own here with exclusive pricing from just $198,600.
Ciaran shared this video with my team showing a condo in the stunning community of Samsara in Tulum. Check out those amenities. RETA members could own here at exclusive pricing from just $198,600. That’s mind-blowing! Click to view…
There’s lots more happening in Tulum.
You can read Ciaran’s full findings from this famed beach town here. You’ll also find a walkthrough of another property in a community where I brought RETA members an off-market deal.
Luxury Homes in Caribbean Mexico
To see just how high-end the Riviera Maya is going, you need only look to the luxury homes that are currently on the market in major destinations like Playa del Carmen, Cancun, and Tulum.
Even in smaller communities, like Akumal, there are hints of this transformation.
Earlier this week, I shared an article highlighting homes that are selling at the very top end of the market along the Riviera Maya. You’ll find condos for $3 million…beachfront houses for $8 million.
This article is a vicarious jaunt through the incredible new properties that are drawing the ultra-rich to this coast.…
Check out these listings in the article here.
Located in Cancun’s Hotel Zone, the white house in the center of the frame is currently for sale and offers direct beach access. The price, though, is eye-watering. Check out the listing in the full article here.
Your Questions Answered
Have a comment for me or my team? A question about owning overseas? A destination you’d like us to scout. A thought on the Riviera Maya. Share it here. I’d love to hear from you. Here’s some questions I got from readers recently…
Lee C. asks: Hi team. I was glad to see your scout Ciaran was in Uruguay. I have been interested in that country for a while now. I am interested in looking at acreage near the ocean and a town/city with medical, groceries and restaurants available. Would like it to have a newer three-bed home with water like a stream or lake on the property.
I have about US$1 million (maybe $1.5 million) to work with. A ranch type property would be good. Not sure what is available in the area as I have not really started looking but if you come across something interesting let me know please.
Ronan says: Hi Lee. Uruguay is a country that has been on my international real estate radar for decades now. And I think it’s one of the most overlooked and undervalued destinations on my global beat. Which was why I sent Ciaran to put boots on the ground there in December.
Though tiny Uruguay flies under the radar, it’s the wealthiest country (per capita) in South America, according to the International Monetary Fund, and the most democratic, according to The Economist. It’s also stunningly beautiful, with a long Atlantic coastline dotted with luxury resorts and pristine golden- and cream-colored beaches.
This is a safe and prosperous place that combines the quality of life you get in Europe with the culture and vibrancy of Latin America. It’s a “Portugal for South America” and the lifestyle and investment opportunities there are incredible.
Lee, to answer your question, while in Uruguay, Ciaran met with a farmland broker who offers very large farms that produce income and often come with a home on the land. The contact details for this broker are in the full Uruguay scouting report here for RETA members. (If you’d like to become a RETA member and get access to Ciaran’s report, as well as access to members-only deals, and much more, all the details are here.)
If you decide to opt for something smaller and more lifestyle focused, Ciaran also toured a farmstead project in the Rocha region of Uruguay. This is an opportunity to own plots ranging from around 12 to 15 acres in a stunning location set amid undulating hills with a view of a protected lagoon.
The Rocha region of Uruguay offers untouched beaches as well as incredibly affordable farmland.
These plots are private and secluded, but still close to towns and amenities. You’re just east of the city of Rocha…the beach town of La Paloma is just 35 minutes south…and you’re about 30 minutes from the town of Garzon, a small, picturesque agricultural community that’s seen an influx of wealthy buyers in recent years and now hosts art galleries and a renowned wine-tasting venue.
Prices for these lots range from $58,650 to $77,050. I put all the details in our comprehensive Uruguay scouting report, which RETA members can read here.
Martin S. asks: Hello. I love reading about Ronan’s lifestyle and work as I can particularly relate to lots of the information. I’m Irish (have property there) but call the Algarve home now, so Portugal is very interesting to me. I also lived in California for 25 years and owned a timeshare in Cabo too.
My question for Ronan is, how does he manage all his tax requirements? I have dual citizenship and I’m driven crazy with paying taxes in three countries, as I still work in Portugal. Any insight on how best to manage owning multiple properties in different countries?
Ronan says: Hi Martin, thanks for your question, it’s a good one. There are many incredible benefits to owning real estate overseas…you can use your properties whenever you want, thus creating an international lifestyle. Your properties can generate rental income. And of course, buy right and you can generate serious capital appreciation.
When it comes to dividing your time between multiple properties in various countries around the world, it does come with some challenges. (But then, no matter where in the world you live, taxes are a challenge!)
It can be a juggling act. The key to managing your overseas tax affairs is having a good team in each country where you have a presence. In fact, when you find the right team, this can all be very hands-off.
To give you an example, when I’m not using my condo on Portugal’s Silver Coast, I rent it out. And I must pay tax to the Portuguese government on that rental income. So if I get an invoice for something to do with the condo, I email it to my accountant’s office where it gets taken care of. Then, each month, my rental manager generates a report with details of income/expenses relating to my condo and that goes straight to my accountant who ensures everything is in order and my tax bill gets settled.
Another important aspect of managing your taxes is tax residency. You have to be tax resident somewhere, and if your lifestyle allows it, you should try and be tax resident in a country that will give you the best tax benefits.
In the past, I took advantage of Portugal’s NHR (Non-Habitual Resident) program which offered a flat rate of 20% on all income as well as other tax benefits for a 10-year period. That program has now been phased out and so I’m currently (temporarily) tax resident in Ireland.
But I am looking into other countries that offer tax benefits to folks who are “tax resident.” Being tax resident usually means you have to spend a certain amount of time in the country each year. So when looking at tax benefits you need to make sure you are clear on how long you must spend in the country…and be happy to spend that time there!
And an added complication for anyone who is an American citizen is that U.S. folks still have to file tax returns each year even if they don’t live in the U.S. anymore (there’s literally no way of avoiding the IRS unless you renounce your American citizenship). But there are tax treaties and tax credits available that reduce—and sometimes even eliminate—your U.S. tax bill. In this case, it’s vital that you work with U.S. expat tax specialist when figuring this out as it’s complicated and the fines for non-compliance can be punishing. Hope that helps and many thanks for the question.
P.S. If you have a question about buying real estate overseas or have suggestions for destinations my team and I should put on our scouting list for 2025, drop me a line here.
Your Daily Dream Home
Mailhac-sur-Benaize, France
$130,100
This elegantly renovated three-bedroom French village house has an open plan kitchen-dining space that leads to a terrace with countryside views as well as a bedroom, on the first floor. Upstairs there’s a double bedroom and another smaller bedroom.
Outside, there’s a fully fenced garden, garage, and workshop. The house is 50 minutes from Limoges airport.
In this corner of France, you can still find authentic French country living. The landscape is a patchwork of sunflower fields, ancient woodlands, and rolling pastures dotted with Limousin cattle. The nearby village, just five minutes away, has a traditional bar-restaurant and local market, while the regional capital of Limoges – famous for its porcelain and medieval architecture – provides city amenities within easy reach.
