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Worldwide property boom prices locals out of market

By Art C Ryter at 02/17/07 14:52

The rising real estate values in developed countries and the desire by many to opt out is fueling a real estate boom in places like Costa Rica, Bulgaria, Mexico, and others. Many buyers are buying, building, and selling second homes all for profit. This turn over has raised the real estate values in some choice cities by 300% in just a few years. People have become savvy international real estate investors, yet discontent is on the rise in some locations as locals begin to resent the lack of affordable first homes.

Original source: International News. [404 Check: was link to http:/ / www. newkerala. com/ news4. php?action=fullnews&id=105078, anchor: Worldwide property boom prices locals out of market]

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