The document describes real estate opportunities in Brazil, Costa Rica, Uruguay, Ecuador, and Panama for less than $50,000. It highlights a private gated community called Summerville in Cumbuco, Brazil, where lots can be purchased for $45,736. The community is near the beach and a new luxury hotel, with construction costs of $65 per square foot, making the total cost of a lot and 1600 square foot home around $149,044. It presents the community as an affordable option for beach living near Fortaleza, Brazil.

1. Twelve Killer Real Estate Deals for $50,000—or Less!
Want to make this your front yard without draining your bank account? We’ll show you how....
A Pathfinder Report
www.pathfinderinternational.net
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2. Table of Contents
INTRODUCTION..................................................................................................................................... 3
BELIZE ................................................................................................................................................... 4
BRAZIL: CUMBUCO................................................................................................................................ 9
COSTA RICA: PACIFIC LOTS .................................................................................................................. 13
COSTA RICA’S LAKE COUNTRY............................................................................................................. 17
COSTA RICA: COUNTRY, CITY, OR BEACH…OR ALL THREE? ................................................................. 21
URUGUAY: The Next Coastal Hot Spot ................................................................................................ 26
RE-SALES ............................................................................................................................................. 31
Ecuador ........................................................................................................................................... 31
Re-sales: Uruguay ........................................................................................................................... 32
Re-sales: Panama ............................................................................................................................ 33
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3. INTRODUCTION
Dear Reader,
At Pathfinder, our mission is to scout the globe to find the most unique and value-
oriented real estate opportunities the world has to offer. We’re your eyes and ears on
the ground, working to get you in early for the best possible deal… often at prices you
thought were consigned to the history books.
I have scouted real estate opportunities in fifteen countries in the past year alone. Every
time I visit a new location, I look to see what opportunities are available for $50,000.
I’m only interested in quality, so I rarely get to write about these $50,000 opportunities.
Thing is, I’m having more success lately.
Global economic problems mean that today there are opportunities...opportunities that
didn’t exist one, two, or three years ago. If you think you can no longer afford the
retirement you planned or the second home you dreamed of, you’re wrong. As financial
markets have fallen, the deals have got better.
The deals in this report are the best I’ve found. These deals offer the biggest bang for
your buck...or 50,000 of them. The report includes lot deals for less than $50,000, and
selected home re-sales in Costa Rica, Ecuadorand Uruguay.
Study this report carefully. Deals like this won’t last long. Once the world economy turns
around, they’ll be consigned to the history books.
Ronan McMahon
Executive Director,
Pathfinder
3

4. BELIZE
Belize, a Country That Will Grow on You!
Belize is an affordable Caribbean paradise
Dear Reader,
Once you stroll Belize’s unspoiled beaches and explore the flora and fauna of its
rainforests, you may become afflicted with what’s known as the “Belize Factor.” Simply
put: you find that once you return home, you have an uncontrollable compulsion to
return. Time and again ...Perhaps even to stay.
After all, where else in a country the size of Massachusetts will you come upon mile after
mile of fragrant pine, counter-pointed with swaying palms; forests where no man has set
foot for over 1,000 years; atolls, islands, and barrier reefs with a rainbow kaleidoscope
of tropical fish; stark savannah; majestic mountains; and Caribbean waters so crystal
clear you can see the shifting sands of the sea floor 150 feet below?
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5. Rainforest, and ruins: Belize is rich in history and natural beauty
Belize is a land with more than 4,000 species of flowering plants (including 250 varieties
of orchids) … 700 different types of trees … 100 species of birds (including the awe-
inspiring jabiru, with a wingspan of up to 12 feet) … 200 types of butterflies (some as
large as a foot wide) … and, of course, the largest cat in the Western Hemisphere.
That’s why Destinations Magazine called Belize “A showcase of natural
phenomena that takes your breath away”, and why AAA’s Go Magazine termed it
“one tropical paradise that lives up to its postcard depictions.”
But Why Live or Invest Here?
Belize is unique in many ways. One is that the official language is English. So you can
throw away your phrase book and dictionary…and start making friends the moment you
arrive.
Belize encourages offshore business…and financial privacy. Belizean laws allow asset-
protection trusts, for example. There are no local income taxes, and no currency
exchange controls.
Residency is easy through the Qualified Retired Persons (QRP) program, run by the
Belize Tourist Board. You can qualify with income of $24,000 a year…and then enjoy a
range of benefits. Income earned from sources outside Belize is tax-free, and you can
import your household goods, a car or a boat, without paying import duty.
And property doesn’t cost the earth, even in this little Caribbean haven. You can own a
lot here from just $44,000…
The Newest Hotspot
Corozal is snuggled along the shores of Chetumal Bay some 90 miles north of Belize
City’s international airport. It’s a picturesque seaside fishing village famed for its
breakers, breeze, and fragrant canopies of poinciana trees adorning its central park.
5

6. One of Belize’s best-kept secrets, Corozal hit the headlines last year, when the AARP
ranked it as a top retirement hot spot. They cited Corozal’s laid-back, affordable
lifestyle: "with year-round outdoor play (boating, hiking, swimming, diving)… only 20
minutes from the malls and cineplexes of Chetumal…"
The turquoise waters of the bay invite you to swim, or spend a few hours boating or
fishing (the bay is good for tarpon, bonefish and permit). The town itself is peaceful, set
around a central park with a historic Clock Tower and plenty of shade trees.
With a population of less than 11,000, Corozal feels like a quaint seaside town, with
small local restaurants and stores. But it’s only a half-hour from the Mexican city of
Chetumal, where you’ll find big-city conveniences.
Large chain retailers offer familiar North American brands. A duty-free zone with more
than 300 stores stocks bargain-priced goods (electronics, clothing, perfume, alcohol). A
modern movie theater complex shows first-run movies in English with Spanish sub-
titles. More than a dozen clinics and hospitals (public and private) provide inexpensive
medical care. Chetumal’s restaurants, bars, casinos and clubs create an active nightlife
scene.
Corozal is still a sleepy town. There’s not much in the way of real estate development,
although 300-400 expats now live here. The premier community in the area is Orchid
Bay.
Orchid Bay … Corozal’s Premier Waterfront Community
Orchid Bay is…
· A luxurious stretch of beachfront with 115 acres of untouched rainforests and
one-and-a half miles of coastline on a tranquil turquoise bay perfect for
swimming, diving, snorkeling, fishing, sailing, or simply strolling along the
shoreline admiring the powder-blue sky.
· Conveniently located just two hours from Belize City by car. And thanks to a
planned private airstrip, it will be less than 15 minutes in one of the low-
cost charter planes that hop about Belize.
· Only 10 miles across the Bay of Chetumal from the bustling metropolis of
Chetumal, with its modern American-style mall, state-of-the-art cinema plazas,
crowded city sidewalks, beachfront eateries, first-class restaurants, and vibrant
nightlife.
· A short boat-ride away from Ambergris Caye, the alluring tourist hot-spot
made famous by FOX Network’s mini-series, Temptation Island.
· Within driving distance of the 2,000-year-old Mayan ruins at Altun Ha. It’s
here the Temple of the Sun God reaches 60 feet above the jungle floor. And only
a few yards away lays the Temple of the Green Tomb, where
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7. archeologistsuncovered the solid jade head of KinichAhau, the largest jade
carving ever found in any Maya country.
At Orchid Bay, you’ll enjoy the comforts and convenience of a modern, close-knit,
luxury community – combined with the easy ambiance of a beach front, tropical
setting. The streets will interconnect, and hardwood boardwalks will encourage walking
and biking.
Belize is a water-worshiper’s paradise
Six years back, owners at Orchid Bay were buying a master plan and a vision. The
developer promised a beach club and restaurant…private beaches and a boat dock…and
little beachfront casitas. But six years back, all buyers could see was heavy machinery
cutting in roads and utilities…
Today, however, it’s a different story. The beach club, restaurant and bar opened last
year. You can enjoy tasty meals and snacks…or shoot the breeze with friends and
neighbors over a local Belikin beer. The first beach and the dock are complete, and a
second beach is underway. Eight homes are under construction. The 24 little beachfront
casitas are finished (the first owners have already moved in). The community Wi-Fi is up
and running…and the first of two swimming pools is under construction.
Homes in Orchid Bay use locally-sourced and hand crafted hardwood
Yet home sites in Orchid Bay still start from only $44,000.
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8. The Affordable Caribbean
If you’ve read this far, I have a feeling you will agree that for anyone who wants to
enjoy a Caribbean lifestyle … with all of the comforts and convenience of modern living …
and the close-knit camaraderie of friends and family, the community of Orchid Bay is
well worth considering.
It’s affordable. It’s amenable. And it’s a world removed from the hustle and bustle, the
hurry and worry, we’d all like to occasionally escape.
When you consider that home sites in Orchid Bay start at only $44,000, I think you’ll
agree this is a once-in-a-lifetime opportunity that warrants your careful attention. If you
want to build a little home on your site, good quality build costs are $100 per square
foot...or up to $125 for high quality finishes. There is no minimum home size. The folks
at Orchid Bay will build you a 998 square foot home for $114,000.
That’s $158,000 for your home and lot if you decide to build…incredibly affordable for a
Caribbean home…
If you want to discover more, email sales@orchidbaybelize.com.
Margaret Summerfield
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9. BRAZIL: CUMBUCO
The beaches here are stunning
I didn’t think I’d ever see Brazil in a report with properties for $50,000 or less. But if you
know where to look, you can find a bargain…
Cumbucoon Brazil’s northeast coast is truly is a special little beach town. The pace of life
is slow…but funky, active and energetic. The streets are lined with little fishermen’s
homes. Blooming flowers drape over freshly painted exteriors. For a playground, the kids
have miles of beach and a soccer ball. The beach is also mum and dad’s
workshop…where they repair fishing nets and touch up the paint on their fishing boats.
For neighbors, the fishermen’s homes have Italian restaurants, a German grill, a trendy
kite surfing shop and beach bars where bronzed adventurers come to enjoy caipirinhas
at sunset to the soft melodies of chill out tracks.
Miles of white sand beaches stretch out, uninterrupted, east and west of here. This is the
type of beach town I’d expect to find way off the beaten track. Like the ones I saw in
Thailand over a decade ago. A place beautiful enough to draw an eclectic mix of
residents and visitors from far afield. But usually places like this are too secret…or too
far off the beaten track... to grab the attention of the mainstream.
But in this little beach town we are only thirty minutes from downtown Fortaleza with her
shiny boardwalk. Fortaleza plays host to more domestic tourists than anywhere in
Brazil….more than three million last year…and tourist numbers are growing strongly.
Standing on the white sand beach at Cumbuco…where I have seen baby turtles take
their first staggering steps towards the water…if you look to your right, you can see
Fortaleza’s glimmering skyline. The international airport is 35 minutes away.
This would be a great place to have a beach home.
And the little community of Summerville in Cumbucowould be a great place to have that
beach home. It’s private, with a gated entrance, paved roads and utilities, landscaped
9

10. grounds, and the social area (complete with swimming pool and tennis courts) already
finished. A few minutes' walk got you to the beach. The beach is stunning...a soft carpet
of white sand, unfurling into the distance...dotted with lofty coconut palms...and the
warm ocean calling out for a quick dip.
Its location is hard to beat. It's only thirty minutes from Fortaleza, a city with more than
3 million residents, the international airport, and all of those big-city conveniences
(hospitals, shopping malls, large supermarkets, hardware stores) and fun (nightclubs,
restaurants, theaters, cinema, bars and cultural events).
The private gated entrance to Summerville
Summerville is also close to the center of Cumbuco. Scandinavians have come here for
many years, mainly to kite surf, but it's off the radar of North American tourists.
Two years ago when I first visited Summerville, the community's location felt a little
awkward. Sure, it was only a five-minute beach buggy ride to Cumbuco and a half-hour
from Fortaleza. But it felt isolated, oddly positioned on the edge of Cumbuco. But that
changed with the arrival of a new five-star hotel, the Vila Gale Cumbuco.
This new resort places Summerville in between the center of Cumbuco and Vila Gale.
Vila Gale plans to add a golf course and residences in the next phase of their
development. Brazilian and Spanish groups snapped up land parcels adjacent to Vila
Gale, who also plan on developing residential projects.
For now, Vila Gale's hotel is an oasis of luxury. Designed to blend in with the gorgeous
scenery around it, the hotel's roofs are sand-colored, fading into the dunes around it.
The large swimming pool is natural, too, without the bright turquoise tiling you usually
see in hotel pools. The social areas and lobby feel elegant and comfortable. Guests pay
an average of $350-$450 a night for a standard double room at the hotel (which is all-
inclusive). You can also buy day passes to the hotel for 220 reals ($118).
10

11. Vila Gale brought in a new access road to the hotel, too, much of which is complete. It's
wide, smooth, well-lit, and comfortable to drive. Cumbuco's little streets were also
getting an upgrade when I visited last month. And new little residential developments
and pousadas in the town feel distinctly upscale.But it still feels like a low-key, laid-back beach
town.
Summerville has landscaped grounds, a social area...and sits next to the beach
In Summerville, two years ago, we checked out a model home. I didn't like it. It was
decent, but lacking in inspiration. The layout and finishings were okay...but only okay. It
didn't have much in the way of outside terraces or patios. It just didn't feel like a dream
beach house.
But newer homes here have upped the ante. They could easily grace the pages of a
glossy magazine. They are large, stylishly designed, with plenty of outdoor living space.
So, you have a great location in Summerville:
· Five minutes from Cumbuco, a friendly, charming little beach town
· Close to Vila Gale, a 5-star resort...and large planned residential communities,
that should push land prices up here
· Thirty minutes from Fortaleza, when you need the international airport, or city
amenities
· A tranquil community that sits right next to a beautiful beach
But what about property prices?
Well, that is the interesting part.
You can buy lots in the project for 85,000 reals ($45,736 at the time of
writing).(This is for cash buyers only. Other lots are available, with a higher purchase
11

12. price, but they come with low down payments and monthly payments spread over two
years.) Condo fees on lots come in at 160 reals ($86) per month. This includes the
maintenance of common and social areas.
That's a good price when you consider that today, beach front land in Cumbuco is
selling for 600 reals ($322) per square meter. Summerville lots are priced at 220 reals
($118) per square meter.
Home construction starts at 120reals ($65) per square foot. The cost of a lot plus a
1600-square-foot house runs around 277,000 reals ($149,044).
There is a rental market at peak times. Easter and Christmas/New Year are traditionally
busy. So is October, which is prime for kite surfers.
But Summerville is not really a rental opportunity. Instead, it's all about having a perfect
beach house... for chilling out, swimming, kite surfing, and exploring the rugged
coastline in a beach buggy.
To find out more, contact sales@investinfortaleza.com, and quote Summerville.
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13. COSTA RICA: PACIFIC LOTS
This place is home to some of the most stunning landscape you'll see in Costa Rica.
Sharp, spiny mountain ridges, cloaked in thick, rich rainforest, wind into the distance.
They slope down to a curving coast, with mile after mile of pristine beaches, backed by
immense national parks. Hot-orange tropical flowers stud the roadside
verges...waterfalls cascade from rocky overhangs...and the rhythmic sound of the surf
greets you at every turn.
Costa Rica's north Pacific coast boomed in the 1990s. But this area stayed under the
radar...with its mist-shrouded mountain peaks, pristine beaches and vast forests...a
secret known only to adventure tourists, a small group of expats, and the locals.
It should have attracted swarms of property shoppers...and resort and residential
developers, looking to cash in on the real estate boom. But it didn't...because it was
tough getting here.
I'm talking about Costa Rica's Southern Zone.
Sharp mountains, vast rainforests, miles of sandy beach...this is a dramaticlandscape
The Costanera (coastal) Highway was, quite frankly, one of the worst roads I've come
across on scouting trips. Unpaved...filled with lunar-sized craters...with rickety bridges
and whole sections that washed out in rainy season. In dry season, clouds of dust
obscured other drivers heading straight for you, on the wrong side of the road...trying to
avoid the potholes. The drive wasn't for the faint-hearted.
There is an airport, but it's a small, domestic affair, lacking basic amenities. You won't
find duty-free, VIP lounges, or airport food here. You'll wait for the tiny planes alongside
13

14. the bumpy strip in an open-sided hangar with wooden benches, with your fellow
passengers--all eleven of them...
The beaches stretch for miles--and you'll often have them all to yourself
These are exactly the kinds of conditions to look for when scouting out a promising real
estate opportunity - a stunning setting, with low property prices, that's tough to get
to...with infrastructure upgrades on the way.
The upgraded, resurfaced coastal highway, with new bridges, storm drainage systems -
all the bells and whistles - opened in January 2010. It cuts the drive time from Costa
Rica's capital, San Jose, to just over three hours. And it's a smooth, comfortable, easy
drive. One section that took 90 minutes on the old road took 22 minutes when I tested
the road shortly after it opened.
The government plans an international airport for this region, though. This would make
the Southern Zone even more accessible to mainstream tourists…bring in more resort
and residential developers…and push property prices up.
The Hospital de Osa opened in the Southern Zone in April 2008. It has an emergency
room, a pediatrics wing, and a neurology center. It's out of proportion to the area as it is
now...but an international airport needs a hospital of a certain size and caliber...so they
built this one.
The new highway kick-started the opening of this region to mainstream tourists. These
tourists will bring residential and resort developers, who'll want to buy the best beach
and ocean view properties. They know that once tourists see this place, they'll want to
spend more time here...and want to own a piece of it. That all means one thing:
property prices should rise...
14

15. Close to the little town of Ojochal in the heart of the country's Southern Zone, you'll find
Pacific Lots. This secluded spot is where emerald-green hillsides slope down to deserted
beaches...where cloud-ringed mountains tower behind ...and the afternoon sun
glimmering through the lush vegetation creates a magical show of light and shadow...
Don't think for a moment, though, that your early-in opportunity in this still-emerging
area of Costa Rica means you'll be roughing it.
Pacific Lots is a mature development, with over 150 homes already constructed, and it's
fully serviced with roads, water, electricity, satellite TV, Internet, and a modern
communications system.The development is close to the new coastal road, and Hospital
de Osa.
The nearby village of Ojochal has plenty of tiny restaurants. But instead of serving rice
and beans, they serve Indonesian food...French, Italian and even organic food. You can
buy crispy French baguettes fresh from the oven...grab an espresso from the coffee
shop...or savor a wood-fired pizza. A small deli stocks imported cheeses, wine and
champagne, Cuban cigars, Swiss chocolate and other treats.
It feels quite cosmopolitan for such an out of the way place...
If you're an outdoor enthusiast or a nature lover, you'll love the unspoiled, lush
landscape, and pristine beaches. It's the perfect spot for swimming, surfing, sea
kayaking, hiking, bird watching, whale watching...or chilling out in a hammock, rocked
by the ocean breeze.
Choose your view...choose your lot...and design your own dream home
What will really take your breath away is how extremely affordable the majestic views at
Pacific Lots are.
15

16. For as little as $40,000, you can purchase a home site, with superb mountain views.
There are no requirements to build immediately--so you can lock down your piece of
paradise at today's low prices.
If you wait to buy here, the early-in deals will be gone. It's inevitable that values will rise
dramatically once the infrastructure upgrades open this coastline up.
Contact pathfinder@pacificlots.com to find out more.
16

17. COSTA RICA’S LAKE COUNTRY
Costa Rica's Lake Country: Home to stunning scenery, and low property prices
Dear Reader,
The forest-cloaked mountains rise gracefully from the lake shore. The wide, sapphire-
blue depths of the lake sparkle and shimmer in the bright morning sunshine. A small
white sailboat skims across the lake's mirror-smooth surface, alone in this majestic
landscape.
Sitting on your terrace, with a show-stopping view of this breathtakingly beautiful Lake
Country, you greet the day with a leisurely breakfast. You almost want to pinch yourself.
You still can't quite believe this is real...that you're here...and that you could afford to
buy a home in this sensational setting...
However, this is all real. It's a secret paradise...hidden away from the hordes that throng
the beach towns of this popular tourist destination...concealed by the lucky few who
chanced upon it, and settled here for good...and where you can still buy a property for a
fraction of the price you'd pay elsewhere.
The location will surprise you. This place is in Costa Rica...not exactly a shrinking violet
when it comes to self-promotion of its natural assets. But while most vacationers and
home buyers tread the well-worn paths of the country's north and central Pacific coast,
and her Central Valley, this location plays it cool...
It's Costa Rica's Lake Country...a glorious jewel that's under-appreciated--and under-
valued.
17

18. Life's a Beach...or Is It?
Set in the north of the country (see it on this map, marked with a green star), Costa
Rica's Lake Country is a three and a half hour drive from San Jose, the capital city, or
two hours from the international airport in Liberia. It's easy to get here. But it stays off
the map of most of Costa Rica's visitors...
You see, most of the travelers and property buyers in Costa Rica look for one of two
things: beach living on the Pacific coastline, or cool highland living in the Central Valley,
close to San Jose. They don't consider other possibilities...so they skip Costa Rica's Lake
Country. They have no idea what they are missing out on...
You can enjoy sailing, fishing, kayaking and swimming on the lake
Those beach lovers could indulge all their water sport fantasies in Costa Rica's Lake
Country - without the sand and salt. The huge lake (the largest in Costa Rica) provides a
perfect arena for kayaking, swimming, wind-surfing and fishing. Onshore, you can try
horseback riding, hiking, bird watching, or canopy tours.
Central Valley aficionados will find the climate in the Lake Country a surprise, too.
Temperatures here hover in the 70s year-round, with refreshing lake breezes. It's not
cloudy and misty either (unlike the Central Valley, which is frequently overcast in rainy
season).
And So Much More
Costa Rica's Lake Country has a unique twist. The scenery looks a lot like Switzerland or
Italy, with mountains, forests, pastures...tumbling streams and cascading
waterfalls...with an exotic touch. The heady perfume of tropical flowers drifts on the
18

19. breeze. Howler monkeys swing through the tree tops, their growling barks echoing
across the hills. A rainbow-billed toucan or an ultramarine butterfly may join you when
you dine alfresco. And then there's the volcano...
The wildlife here is spectacular...and right on your doorstep
Costa Rica boasts many volcanoes. Some smoke, smolder and steam...ooze scarlet
streams of lava...and mesmerize onlookers with their fiery displays. And the Lake
Country' s volcano is a scene stealer. Its tall, sharp cone rises majestically over the lake.
It doesn't simply look pretty. It also provides another bonus: thermal spas. Sink into one
at the end of a busy day...and soak away your aching muscles and niggling stresses.
You'll emerge, feeling like a brand-new person...and ready for dinner with friends.
Good Food...but What about the Company?
And that's when you'll discover the Lake Country's gourmet delights. In the local towns,
you'll find pastry shops and bakeries stacked with mouth-watering treats...little cafes
serving seafood dinners and local delicacies...and a small restaurant that offers the best
food you'll eat in Costa Rica. Period.
You can enjoy good food and good company here
And you'll enjoy your meal with convivial company. Costa Rica's Lake Country is home to
a friendly group of expats, who love this place, and welcome newcomers.
19

20. But now on to the hidden treasure...property bargains that you'll find hard to beat...and
even harder to resist.
There really is a property for every budget here.One of the best is a private community
offering half-acre lake-view lots from only $19,000.
See it For Yourself
If you want to get a feel for Costa Rica's Lake Country, surprise yourself with its hidden
charms, and check out the best property deals in the area (including those $19,000
lots), contact local broker Terry Moran atarenaldeals@moranlakearenal.com. Let him
know you’re interested in the Preserve lots, and a personalized tour. Terry can help you
discover this hidden corner of Costa Rica...before the mainstream catches on.
20

21. COSTA RICA: COUNTRY, CITY, OR BEACH…OR ALL THREE?
Colinas de Miramar offers quiet country living, close to the city and beach
Dear Reader,
It's a seashore resort popular with Costa Ricans. Islands speckle the deep blue waters of
its bay. It's the gateway to the gorgeous Nicoya peninsula. It's close to cloud forests,
lush highlands, and pretty beaches. It was a port for shipping coffee overseas in the
1940s. Today, 18 different cruise ships call here.
It's easy to get to, and it's highly affordable.
It's Puntarenas, on Costa Rica's Pacific coast.This area offers quiet country living, close
to the city, and close to the beach. Yet you probably haven't heard of it. It's overlooked
and undervalued.
But if you're thinking of retiring or buying a second home in Costa Rica, this area should
be on your shortlist. Here's why...
It's Easy to Get To
For starters, it's accessible. A new highway opened last year, connecting the port city of
Caldera (south of Puntarenas) with San Jose, Costa Rica's capital. The new road cuts the
drive time from San Jose in half. It now takes around an hour.
It takes an hour and a half to get to San Jose's international airport. But you can also fly
into Liberia, Costa Rica's second international airport. The drive time from Liberia is
roughly two hours.
21

22. It's a quick, easy and comfortable drive to Puntarenas from San Jose. So you can take
advantage of San Jose's city amenities. These include top-class hospitals like
ClinicaBiblica and CIMA...cinemas, restaurants, cafes, bars and clubs...supermarkets and
shopping malls. But you're not in a remote outpost here. You have a world of amenities
on your doorstep...
Fun & Adventure Awaits You
The setting is beautiful. Mountains and hills tumble down to the wide, sparkling-blue Gulf
of Nicoya. Sandy beaches, dotted with palm trees, run for miles along the coast.
Head into the Tilaran Mountains behind the coast and the scene switches from beach
living to country living. Farms and small villages are scattered across this pastoral
landscape, including the village of Miramar.
It's a little hidden gem. A small white church with twin red-roofed towers sits on the
central plaza. It's a scrubbed-clean, tidy village. Exotic flowers in shades of pink, scarlet
and cream spill over walls and fences. Miramar was a gold town. Some of the older,
grander houses are historically important. Others are simple homes in brightly painted
wood. There's also a sprinkling of newer, larger homes in landscaped grounds.
The little town of Miramar is a lovely place to spend time
Miramar boasts a doctor, dentist, supermarket, bank, butcher, and hardware store. Little
bakeries, cafes and restaurants offer light snacks and hearty meals at low prices. You
can shop at the little family-owned stores. Thursday through Sunday, the local farmers
market offers fresh fruits and vegetables, cheeses and herbs. It's a lovely peaceful place
to spend time...
22

23. If you carry on driving through Miramar, up into the mountains, you reach a mirador
(lookout point). You can look down the valley, across the farms and forest-covered hills,
out to the Gulf of Nicoya. It's an awesome view. A restaurant at the mirador serves
chilled beers and freshly-prepared food.
You have beautiful beaches 10-15 minutes away, including Playa Blanca with its white
sand beach. You have surfing, horse riding, sport fishing, white water rafting, zip lining,
canopy tours, and nature hikes...all on your doorstep.
Take a short ferry ride across the gulf, and you're in Nicoya. Nicoya's beaches are
popular with surfers and celebrities alike. You could spot Mel Gibson, Bruce Willis,
Harrison Ford, or Gisele Bundchen strolling on the sand...
A Boom Town
The port city of Puntarenas feels a little gritty round the edges. It won't win awards right
now for charm or cuteness. But this city is moving ahead. Many of the older, smaller
homes in Puntarenas are changing hands, or getting a facelift. New condo blocks are
going up.
Development is spreading outside the town, too. A Hilton Doubletree hotel opened on
the outskirts a couple of years back. An upscale private residential community close to
the hotel has plans for a golf course. Land prices have shot up in this area in the last 2-3
years.
An Opportunity You Should Check Out
Colinas de Miramar is set in 647 acres of gentle hills, with streams and centuries-old
trees. Situated at the base of the Tilaran Mountains, many of the lots in the community
have panoramic ocean views, over the Gulf of Nicoya. The developer is a Miramar local.
His well-connected family has lived here for generations.
Colinas is a master-planned community. Plans call for a community center, commercial
center, swimming pool, tennis and squash courts, and a gym. Road construction is
already underway in the first phase. And they're building the first model home.
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24. Stunning sunset views in Colinas de Miramar
Colinas de Miramar is around 5 minutes from Miramar, and 20 minutes from Puntarenas.
Home lots in this community are large, averaging 1.25 acres. Mountain-view lots start
from $50,000. You pay 1/3 of the price down, and then have two years interest-free
financing on the remainder.
Owners can either hire their own builder, or choose a home/lot package. But there is no
requirement or timeframe to build; you can sit on your lot for as long as you like.
Why Not Visit and See For Yourself?
There's an easy way to see this area and Colinas de Miramar for yourself.
Just contact the developer. Then, choose a lot, and reserve it with a fully refundable $2000 deposit.
Now, you have 60 days to come and check out Colinas de Miramar -for free.
Just get yourself to the airport at San Jose, and the Colinas team will meet you there. You'll stay in a
boutique hotel in Escazu, the nicest neighborhood in San Jose.
Over three days, you'll explore Puntarenas, Miramar, the views, the beaches...and get a
first-hand look at Colinas de Miramar. The Colinas team will pick up the tab for your
accommodation, airport transfers and transport.
This isn't a high-pressure sales trip. If you don't like what you see, you can ask for your
deposit back. That's it. No strings, no obligation. You'll have enjoyed three days in Costa
Rica, partly at someone else's expense. Not bad at all...
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25. Remember, this is an early-in opportunity. Prices won't stay this low here for too long. If
you want to get the best lot...at the best price...now is the time to act. Contact John
here today: details@colinasdemiramar.com.
Margaret Summerfield
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26. URUGUAY: The Next Coastal Hot Spot
A typical beach in Rocha: beautiful, untamed, and empty...
Dear Reader,
As we crested the dunes, the beach came into view. It was gorgeous: a wide silky ribbon
of white sand, bordered by the sapphire ocean sparkling in the sun. The rhythmic
swoosh of the waves rolling up on the sand and the call of seabirds broke the peaceful
silence. The beach was empty. We had it all to ourselves, for swimming, sunbathing, and
walking barefoot in the sand...
This is the province of Rocha, on Uruguay's eastern seaboard. While it holds a certain
cachet for a select few, it's not particularly well-known. Punta del Este, Uruguay's (and
South America's) most glamorous resort town overshadows Rocha.
Rocha is very different to Punta. It doesn't have the swanky high-rises or the fairy-dust
magic of celebrities. It's more tranquil...more discreet. And it's a lot more affordable
than Punta. You can buy a spacious home site from only $31,900. More on that in a
moment.But first, why you should seriously consider the Rocha area.
Rocha: A Beautiful Coast at a Beautiful Price
For starters, the beaches here are the best in Uruguay. Wide and untamed...with soft
white sand...and white-capped breakers running across the navy-blue ocean. Sand
dunes crouch protectively behind the beach. On the other side of the dunes lies a
different watery oasis: a huge lake, Laguna de Rocha. It's protected, and covers more
than 22,000 acres. Both the lake and the beach are open to anyone to enjoy.
The landscape around the lake is a rural one of rolling grassland, pine forests and fields
dotted with cows and sheep.
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27. Close by, you have a choice of two popular beach towns. La Paloma, favored by
Uruguayans, is the larger of the two. It has more amenities: a bank, post office,
supermarkets, clinic, taxi ranks, bus depot, and many restaurants and cafes. A new
boutique hotel on the edge of town offers chic modern style.
The beach at La Paloma with the town's famous lighthouse
The town's lighthouse (one of a series dotted along the Uruguayan coast) is a much-
photographed landmark. La Paloma's pretty beaches fill with vacationers, surfers and
backpackers in peak season.
La Pedrera is much quieter, and attracts Argentineans and Europeans. It lacks many of
Paloma's amenities. Two boutique hotels, a handful of little restaurants and a small
grocery store stocking the basics...and that's about it.
La Pedrera: chic, upscale, and tranquil
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28. The homes in the town are a mix of ultra-modern architecture and upscale rustic. Set on
a low cliff, the town overlooks sweeping curves and coves of white sand. Rocky reefs and
outcrops shoot ocean spray skywards.
Unspoiled Chic or High-end Glamour?
These little beach towns are a sharp contrast to Punta del Este. Punta is the traditional
summer and vacation resort of Argentineans, and increasingly for Brazilians. For six
weeks a year, royalty, the seriously wealthy, and stars from the worlds of fashion, music
and cinema gather in Punta to party. Punta's trendy restaurants and designer stores
cater to this exclusive market. From the sleek yachts moored in the marina, to the multi-
million dollar condos on the boardwalk, Punta oozes money and glamour.
That popularity impacts real estate prices. New condos in Punta now average $3000 per
square meter. A lot in a gated community can cost up to $500,000. It hasn't stopped
buyers coming. Real estate sales in Punta hit $2.2 billion in the 12 months to April 2011.
But those escalating prices are pushing real estate development along the coast, away
from Punta, and towards the border with Brazil. That's where you'll find Rocha.
When I first visited Rocha four years back, there wasn't much in the way of
development. I only found a couple of small private communities, and some re-sales.
Since then, things have started moving in Rocha. You still won't see high-rises, condo
towers, or mega-resort hotels. But a prominent Argentinean developer plans a $350
million project here...the founder of clothing chains Mango and EtiquetaNegra plans to
do another one...and smaller developments are starting up.
And we've uncovered one community, close to the ocean and the lake, with spacious lots
from only $31,900.
La Serena Golf
La Serena Golf is developer Daniel Ok's second development in this area. His first, Las
Tajamares, features heavily in a glossy coffee table book showcasing homes from
Argentina's foremost architects. Owners in Tajamares selected some of the best
architects to design their homes. It's the only project in the book in the Rocha area.
With 225 acres, La Serena's 179 lots vary from a half-acre to three-quarters of an acre
in size. More than 50% of the land will stay as green space. Seven lakes will dot the
project, adding to the relaxed country feel of the property. Amenities will include a nine-
hole golf course, a putting green and tennis courts. This will be the first golf course in
Rocha.
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29. The landscape around La Serena: pine forests, pastureland...lake and ocean
Many of the lots have ocean views. And La Serena is only 400 meters from the ocean
and beach. It's a kilometer to Laguna de Rocha and four kilometers to the beach town of
La Paloma.
This beach is 400 meters from La Serena
Despite the amenities, lots in La Serena start from $31,900. That gets you 2120
square meters (a half-acre). If you want sea views, you'll pay a little more. You don't
have a build requirement, so you can sit on your lot as long as you like, and only start to
construct a home when you're ready.
You'll enjoy spending time on Rocha's beautiful coastline. And La Serena Golf is in the
right place...at the right time...ahead of the development path that's sweeping along this
coast from Punta.
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30. In the next five to ten years, I expect this section of coast will change significantly. The
pace of development is gathering speed. This is good news for property investors. I just
hope that Rocha’s little beach towns preserve their quaint charm…
If you want to snap up one of those spacious lots in La Serena,
contact enquires@laserenagolf.com.uy.
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31. RE-SALES
Ecuador
It might seem almost impossible to get a home for $50,000 or less these days. We
asked our in-country broker contacts to scour their listings—and surprisingly, they came
up with some gems.
Ecuador’s Pacific coast has miles of sandy beaches
Ecuador has 1400 miles of Pacific coastline. If you're dreaming of a bolthole overseas,
but didn't think you could afford it, Ecuador can give you that beach lifestyle you dream
of...at a price you can afford. Think California in the 1950s, before prices got out of
hand.
Ecuador is the place to go to make your retirement dollars stretch even further...and this
applies to your daily living costs and to real estate values as well. This is where you'll
find some of the world’s cheapest beachfront. That’s because until now, this country's
coast...with miles of unspoiled, pristine beaches, and undervalued property...was
overlooked. But that's changing.
Ecuador's coast reminds us of parts of the Pacific coast in Nicaragua and Costa Rica,
before the real estate boom in those countries, triggered by an influx of foreign buyers.
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32. And Ecuador's coast is now on the radar of an increasing number of overseas property
shoppers. Faced with economic uncertainty in the US, they're exploring more
alternatives. They want a lower cost of living, and a lower-priced home. They want to cut
costs without cutting their standard of living. Ecuador's coast fits the bill.
Foreign property buyers are also waking up to the potential of this area. Once word gets
out, the trickle of buyers here could become a flood—and prices should rise.
Ecuador’s south Pacific coast boasts coastal cities as well as tiny beach towns. You’ll
enjoy warm beach weather year-round here, with low humidity levels. Salinas is one of
the most developed cities. It offers big-city amenities: Supermarkets, shopping malls,
hospitals and clinics, restaurants and nightclubs. It also offers two marinas, and a choice
of watersports, including world-class sport fishing.
The city feels a little like Miami…with gleaming high-rises lining parts of the beach,
trendy clubs coming alive in the evenings, and the jet set’s luxurious yachts swaying
gently on the ocean. You won’t pay Miami prices for eating out or enjoying the local
nightlife here. Dinner for two in a fashionable restaurant shouldn’t set you back more
than $20. With lunches costing around $5, you can cut your living costs here…or save
some dollars to splurge on household help, deep-sea fishing trips, or spa treatments.
And you won’t pay Miami prices for a property in this area, either. A condo with 70
square meters (750 square feet) of living space comes with ocean views. The one-bed,
one and a half bath condo feels bright, airy and spacious. It’s got a parking space, and
it’s furnished. Only two blocks from the beach, it’s a short walk to restaurants, shopping,
and the boardwalk. The condo is on the market for $47,500.
If you dream of building your own beach house, then an on-beach lot, 800 square
meters (8608 square feet) in size, makes sense. It’s further up the coast, close to
Montanita, a hip beach town popular with surfers. In a private community with only
twenty lots, the price is $45,000.Contact info@pathfinderinternational.net to find out
more.
Re-sales: Uruguay
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33. Montevideo’s Plaza Independencia
Uruguay is the final country for our re-sale picks. Montevideo, the capital, has a very
European flair. From its tree-lined streets to the grand buildings that surround the
peaceful plazas, the feel is civilized and cosmopolitan.
Ciudad Vieja, the historic part of Montevideo, was neglected and forgotten for decades.
However, today, infrastructure investment and the restoration of properties are
reversing that trend, and Ciudad Vieja is an up-and-coming area for overseas property
buyers.
A 75 square meter (800 square feet) centrally-located apartment in Ciudad Vieja is listed
at $45,000. It’s in good condition (recently renovated), with three bedrooms and a
bathroom, and close to shopping, restaurants, and banks.
Another 65 square meter (700 square feet) apartment in need of complete restoration is
listed for $40,000. It’s on the pedestrianized walkway, and dates back to 1935. In fact,
when looking for bargain apartments, I found 21 in Ciudad Vieja for less than $50,000.
Re-sales: Panama
Known as the “Crossroads of the Americas” and with a dramatic coastline stretching for
more than 3000 kilometers, Panama has attracted large numbers of expats and real
estate buyers in the last decade. From the bewitching highlands beauty of Boquete…the
quaint colonial villages in the interior… to the tropical, white sand beaches of the Pearl
Islands…it’s easy to understand why so many people are tempted by Panama’s charms.
In the early years of Panama’s property boom (2004/2005) it was easy to pick up a
prime waterfront condo in Panama City at a bargain price, from as little as $1000 a
square meter. But that was then…
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34. Today, Panama has a shortage of buyers...and a glut of city condos. Many buyers
bought a pre-construction condo three or four years ago, who need to find 70% of the
purchase price to close, but who no longer have access to those funds. Other owners
need to sell to shore up finances elsewhere. It all leads to one thing: fire sales. We are
starting to see more and more of those…
What does this mean for the potential real estate buyer in Panama? Don't buy in Panama
right now for short-term appreciation. Don't buy expecting high rental yields--the days
of hotel shortages, 84.7% hotel occupancy rates, and double-digit net rental yields are
over. Don't buy pre-construction whatever you do...there's always a risk with pre-
construction, even in a rising market. In a stagnant market like Panama today, pre-
construction is not a risk worth taking.
But Panama still makes sense as a place to live. If you plan on relocating or spending a
chunk of the year here long-term, and you want a home base, then look for a fire sale.
The key is not to over-pay. That lack of buyers combined with distressed sellers equals
some great opportunities. You’ll find some bargains.
A local broker contact has a lot 15 minutes outsideBoquetepriced at $50,000...and that
price is negotiable. With excellent views of VolcanBaru (a dormant volcano), this 1.24
acre site comes equipped with water, electricity and has road frontage. Boquete has a
large group of expats, gourmet restaurants, and an active social scene. If you are
considering a home in a relaxing, cool, highlands setting, this lot is worth a look.
If beach living is more your thing, then perhaps you should consider El Uverito.
Overlooking the endless Pacific Ocean, El Uverito is a small seaside village in the Azuero
peninsula. Azuero is Panama’s traditional heart…the home of folklore, tradition and
festivals (there’s said to be a festival for every day of the year in Azuero). It’s also one
of the most affordable…and most tranquil…locations in Panama. A home site with a
stunning ocean-view is on the market here for just $45,000. The property comes
with water and power close by and a paved road within 70 meters of the lot.
If you want details on any of these re-sale properties,
contact info@pathfinderinternational.net, and let us know which one you are interested
in.
And remember…you’ll get more great deals like these ones in your free e-letter,
The Pathfinder Alert…so watch your inbox!
© 2011 Pathfinder Ltd. All Rights Reserved. Protected by copyright laws of Ireland and
international treaties. Do not reproduce, copy, or redistribute this work either online or
in print without the express written permission from Pathfinder.
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35. Neither Pathfinder nor its employees and agents are licensed to give personalized advice
about securities investments. Nothing in this email or in communications from our
employees to you should be construed as personalized to your investment situation.
Pathfinder is in the business of recommending a wide range of real estate and relocation
services from developers and lawyers to real estate agents and tax specialists, to name
but a few. Pathfinder requires developments to meet basic criteria before bringing them
to you. However, any vetting we do on projects or professionals should not be construed
as a guarantee by Pathfinder. Pathfinder is not responsible for the management and
delivery of real estate agent or developer-sponsored real estate tours and chill
weekends. We bring these to you for informational purposes on behalf of our developer
and real estate agent partners. As with any other overseas trip, we advise that you
purchase travel insurance.
We always recommend strongly that buyers perform their own complete due diligence,
use a qualified legal professional to help with real estate transactions and purchase title
insurance. Should a reader decide to purchase a property from one of the
developers/real estate agents we cover, we will receive a fee from the developer or real
estate agent.
© Copyright 2011, Pangaea Ltd., trading as Pathfinder, Elysium House, Ballytruckle, Waterford,
Ireland. All rights reserved. No part of this report may be reproduced by any means without the
express written consent of the publisher. The information contained herein is obtained from sources
believed to be reliable, but its accuracy cannot be guaranteed. Registered in Ireland No. 441952.
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