It turns out two of the three places the Digital Nomad is recommending are places I have visited. Here they are:
Medellín, Colombia
Colombia has been squarely on my RETA beat for nearly a decade. And livable, internationalized cities like Medellín are drawing in mobile, creative, and productive remote workers untethered by the Zoom Boom.
Today, the old cartel and bad reputation that dogged this beautiful city in the days of Pablo Escobar have faded into history. But the street where he was gunned down is a bit of a tourist attraction.
They have been replaced with a hip, “must visit” city that has much to appeal to the Zoom Boom crowd.
Modern Medellin is one of the most modern and sophisticated cities on my beat. Young digital nomads huddle in trendy watering holes plotting the next Facebook or hang out at the open-air workout areas that can be found here.
The locals are warm, welcoming, friendly, and honest. They feel genuinely happy that foreigners are beginning to visit them. The Metro is quite efficient, clean and safe.
Mr. Mike, Barry the V, and I visited Colombia a few years back on a trip to Ecuador. Indeed, Medellin (pronounced Meda-gene) is a great place to visit. Public transport is great, and food (go to Pargue Llerus) is rapidly improving. And it is very affordable.
The Algarve, Portugal
If you’re a regular reader, you’ll know that the Algarve is where you’ll find the most profitable real estate deals in all of Portugal.
The Algarve is indeed something special. It offers perfect weather, amazing beaches, and world-class golf. It’s easy to get there, the cost of living is low, the food is great, and it’s safe…peaceful. All factors that attract Zoom Boom remote workers.
The Algarve is the kind of place that does well in good times and bad. It attracts a huge mix of markets. It’s an internationalized destination that draws Northern Europeans, North Americans, and even folks from as far away as Asia…
In particular, I’m laser-focused on the historic town of Lagos. It’s a place where the best-in-class property is in incredibly hot demand. By getting in early on the right condos, in the right locations, we can do very well. Demand is surging, supply is scarce, and there are constraints that put serious limitations on availability.
Last year, despite the lockdown, I hear some property owners in Lagos were still pulling in gross rental yields of 7%.
Portugal is a very underrated place to visit. Though we went for golf, the culture and people are refreshing and interesting. Along the way, we went on an area wide search for vintage ports. The golf was enjoyable, and somewhat challenging. But the food and the people were absolutely the big draw. We spent many afternoons chasing down vintage ports.
I wonder why more people I know do not go to South America. The Amazon rainforest is still one of the best places I have visited. The language is not a barrier, the roads are good, and the food and wine are quite affordable and delicious. For those who say it is too much like Mexico, I guarantee you it is not! Parts of South America feel like Europe and the U.S. since they are clean, attractive, and FUN!
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