Wondering where your retiring clients might be considering moving for their golden years? Here are some places you might want to know more about and where you might want to start developing referral relationships.
A recent article in the Financial Post reports that Ecuador has been ranked -- for the fifth consecutive year -- as the top foreign retirement destination for U.S. retirees. Low cost of living, friendly culture, lovely climate and closeness to the U.S. are among the reasons cited for Ecuador beating out other countries including Mexico, Costa Rica and Panama. A close second, Panama was cited for having many retiree discounts, and making it easier for expats to acquire a visa.
Many factors contributed to the compiling of this list, including property prices, retirement infrastructure, ease of integration into the country, cost of living, as well as benefits to retirees. Spanish speaking countries like Mexico, Costa Rica, Uruguay and Spain ranked high on the list, with only two Asian countries being named; Malaysia, breaking into the top 5 for its cheap rent and tropical climate and Thailand making the top 10 due to its affordable outdoor lifestyle. A few EU nations could also be found among the 22 countries listed, including Ireland, France, Portugal and Italy. The Philippines, New Zealand and France rounded out the list, and were said to have the highest cost of living, but an attractive ease of integration.
It seems likely that many U.S. consumers may focus on finding their retirement properties in one or more of these countries. So whether your clients are looking to retire in a tropical climate, or want the most bang for their retirement buck, focusing on cultivating real estate relationships in these areas seems smart. Read more…