Real estate investors have been flocking to far-off locations for years in pursuit of a better climate, a lower cost of living, tax breaks, and other advantages. The migration accelerated during the real estate boom in the U.S.,and Europe as prices in traditional second-home communities soared.
But in this cautionary tale I reported on for Conde Nast Portfolio.com, house hunters who packed their passports and sought bargain properties in up-and-coming overseas locales from Belize to Bulgaria watched their investment shrivel during a real estate downturn that affected nearly every corner of the property market.
A home for sale in Trsteno on the Croatian cost.
Troy McMullen | Journalist 