We are now truly living in the age of the teleworker.
A quick Google News search for “digital nomad” (the term used to describe remote workers who can perform their jobs from anywhere with an Internet connection) yields results such as “The rise of” digital nomads “in Greece ‘ International tax review, “Cities should be able to quickly capitalize on a growing number of digital nomads” Buenos Aires hours, and “How much do digital nomads spend in Croatia?” ” Dubrovnik weather.
But it takes more than a Google search to really understand what’s going on in the world right now as more workers walk out of their desks, accelerated by (but not triggered by) the pandemic that has struck. Last year.
While Google can tell you about remote workers in Greece, Argentina, or Croatia, I look at the trend of remote workers from a real estate perspective and combine the phenomenon with my expertise in international real estate to identify the best places in the world to capitalize on. the Zoom Boom through property.
Here are some of the places I recommend as Zoom Boom Cities that are worth your interest as a real estate investor.
Tulum, in Mexico’s Riviera Maya, is by far one of the most popular work-from-home destinations in the world right now. It enjoys easy access by air, good weather, beautiful scenery, fun things to do, amenities and amenities and of course high speed internet connection.
It’s important to note that it’s also in the same time zone as the United States, making the transition much easier for people.
Even last year, at the height of the pandemic, Planet alone called Tulum a hotspot for digital nomads, and a New York Times reporter wrote about his experience working in the seaside town.
There are listings in Tulum for new malls and shopping areas. Luxury furniture stores are popping up on the highway on the way to town. These types of stores are rare in seasonal vacation destinations. In the past, people here would have furnished their apartments by running to the town of Playa del Carmen an hour’s drive away. Now Tulum becomes autonomous and a city in its own right.
Renters in Tulum today don’t just stay a few nights, but a few weeks, sometimes months. This means higher occupancy even during shoulder seasons. They stay long term but are happy to pay short term rates if that gives them flexibility.
Colombia has been squarely on my RETA beat for almost a decade. And internationalized and livable cities like MedellÃn attract mobile, creative and productive remote workers, not bound by the Zoom Boom.
Today, the old cartel and the bad reputation that held this beautiful city during the time of Pablo Escobar have disappeared into history.
They have been replaced by a trendy ‘must-see’ city that has a lot to please the Zoom Boom crowd.
Modern Medellin is one of the most modern and sophisticated cities on my pace. Young digital nomads huddle in trendy watering holes to trace the next Facebook or hang out in the outdoor training areas here.
The locals are warm, welcoming, friendly and honest. They feel really happy that strangers are starting to visit them.
If you are a regular reader, you will know that the Algarve is where you will find the most profitable property deals in all of Portugal.
The Algarve is indeed something special. It offers perfect weather, wonderful beaches and world-class golf. It’s easy to get there, the cost of living is low, the food is great and it’s safeâ¦ peaceful. These are all factors that attract Zoom Boom teleworkers.
The Algarve is the kind of place that thrives in good times and bad. It attracts a huge mix of markets. It is an internationalized destination that attracts Northern Europeans, North Americans and even people from as far away as Asia …
In particular, my laser focus is on the historic city of Lagos. This is a place where best-in-class property is in high demand. By entering the right condos early in the right places, we can do very well. Demand is increasing, supply is scarce, and there are constraints that seriously limit availability.
Last year, despite the foreclosure, I heard that some property owners in Lagos are still making gross rental yields of 7%.
Considering what was going on in the world, this is impressive. And as the Zoom Boom strengthens the rental market here, I predict it will only get better.
I make a point of staying ahead of the trends that could generate real estate profits, and this Zoom Boom is one of the most promising I’ve seen in a while.
I guess you’ll hear more of the places on this list as the trend develops.
This story originally appeared on International Living.