9.26.14 Update: Read this recently and had a chuckle:
And wouldn’t you know it, Portugal (southern coast) was one of them! Now back to the original post
After reading for the past few years of European national debt problems, and seeing the fire sales in real estate, I got the idea that owning ocean view property in Portugal might make sense. This is a totally speculative post, just a thought I’ve had for some time. And since I can not do this at the point, maybe you could and would benefit from the idea.
Portugal is a small country, with a population roughly equal to Southern New England. And since they didn’t have the front page debt problems of Greece, and since they weren’t one of the European countries with an important opinion (read: Germany and France), it is easy to forget them. Of course football fans (soccer) know Portugal as the home of Cristiano Ronaldo – but Portugal is so much more than that. They have a good infrastructure for food and food-related basic industries like fishing, wine, and farmland.
There is also the old world charm. Portugal wasn’t bombed out in World War 2 so they retain many old buildings (that of course need some renovation) and their charm. Some might accuse the country and its population of being a bit isolated, but they are on the tip of the Iberian Peninsula, on the beautiful Mediterranean, so being close to home isn’t so bad.
I know very little else about Portugal – my fault -and since I go to the west coast US often, Portugal is almost the same distance and wouldn’t be out of range. But I have not been. However, my instincts tell me that for Americans near retirement, and maybe especially for Americans of Portuguese descent who know the language, there may be some nice opportunities to get a retirement home. Portugal isn’t too far from North Africa either, and could serve as a nice 2nd home area for Americans with roots in North Africa who may prefer to live in Europe but be close to relatives in North Africa.
if any of you have some input on this, please share in the comments. I’d enjoy your perspective and any clarifications of my thoughts above.