In recent months, several major oil companies expanded their offshore drilling operations in Guyana to include neighboring Suriname. The entry into Suriname was facilitated by the country’s shifting political climate and the economic vulnerability triggered by the COVID-19 pandemic. With the sudden arrival of expatriates into the capital, Paramaribo, the housing market is already experiencing considerable strain.
Since March of 2020, more than 450,000 Australian citizens and permanent residents returned home on the advice of the Australian Federal Government. International travel was becoming increasingly complex and many countries established travel restrictions or closed borders.
Over the past year, the rental market in San Juan, Puerto Rico experienced a significant supply crunch of houses. Some of this supply crunch can be directly attributed to changing consumer desires during the COVID-19 pandemic. In cities around the world, demand plummeted for small apartments in city centers while it surged for houses in the suburbs with additional...
During my Switzerland survey, I found that many people choose to live in Zug for its lower cost of living and lower tax costs compared to neighboring cities Lucerne and Zurich. Zug is just about thirty minutes by train, which makes it a practical choice.
I recently surveyed Yuzhno-Sakhalinsk, a city in the far east Russia, for the third time. Given the city’s size, it is easy to notice any changes. Sakhalin Island is developing in accordance with the government’s plan to promote tourism, which would also increase recreation options for expatriates.
Oil was discovered offshore Guyana nearly five years ago, but the country has taken a fairly measured approach to development, bringing in consultants to ensure that the oil industry (and the country’s future economy) is stable. The first extraction project, Liza Phase I, is on schedule to begin production of 120,000 barrels of oil per day starting in Q1 2020. The rate of incoming workers is picking up speed and demand has risen quickly not only for rentals properties, but also goods and services.
Since the 2015 discovery of vast oil deposits two hundred kilometers off Guyana’s coastline, the country has become one of the hottest oil and gas locations in the world. The capital city of Georgetown is now a center of activity as exploration, planning, and infrastructure development progress.
Barcelona has 1.6 million residents and an annual influx of 30 million temporary residents. This excessive number of tourists has brought instability to the city’s housing market as many long-term rentals have turned into short-term furnished units to cater to demand.
East Timor, or Timor-Leste as it is known in one of its official languages, Portuguese, is a small country in Southeast Asia just north of Australia across the Timor Sea. It is one of the world’s youngest nations and still feels relatively undeveloped. The main expatriate population comes from embassies, NGOs, aid organizations, and banks.
Luxembourg has a landlord’s market, with greater demand than supply. New construction is constant but mostly consists of smaller scale, high-end condo projects of five to fifteen units in a mix of flats and duplexes.