New Yorkers are fleeing the city at record rates — with many vowing never to return - and real estate in the Hamptons, Catskills and New Jersey is skyrocketing to previously unseen high prices. But many people, balking at a $50,000-a-month rental in the Hamptons, and with the newfound ability to work from home anywhere in the world, are now looking internationally for a longterm escape.
With COVID-19 decimating economies, several countries that rely on tourism are now offering lengthy, work-from-home, tax-free tourism visas in an attempt to lure talented Americans. And these countries offer a lot more bang for your buck than any of the bedroom communities surrounding New York City.
The sun-soaked Caribbean nation of Barbados has introduced the “Barbados Welcome Stamp,” which allows visitors to stay in the country without a visa for up to one year and will remove local income taxes that normally kick in after six months.
“Covid-19 has placed a severe strain on people’s mental wellness,” Barbadian Prime Minister Mia Mottley told told The Washington Post. “The sunshine is powerful. The seawater is powerful. They’re both therapeutic in ways that are hard to explain.”
Meanwhile, Estonia is launching a “Digital Nomad Visa” which “allows remote workers to live in Estonia and legally work for their employer or their own company registered abroad,” while Chile has started Start Up Chile: a program for tech start-ups that offers a one-year work visa and equity. Georgia, Germany and Costa Rica also have visa programs geared toward freelancers, making it easy to live and work in large, beautiful spaces surrounded by nature - for a fraction of Northeast prices.
- Buy: One-bedroom condo for $210,000 in Saint James
- Rent: Gingerbread Cottage for $150 a night /$4,500 a month in Holetown
- Buy: One-bedroom modern apartment for $250,000 in Tallinn
- Rent: Three-bedroom apartment for $2,000 a month in Tallinn
- Buy: Luxury three-bedroom apartment for $320,000 in Tbilisi
- Rent: Two-bedroom triplex for $1,620 a month in Tbilisi
- Buy: One-bedroom apartment for $350,000 in Berlin
- Rent: One bedroom apartment for $2,100 a month in Berlin
5. Costa Rica
- Own: One-bedroom jungle home for $170,000 in Puntarenas
- Rent: Three-bedroom beach house for $1,200 a month in Playas Del Coco
- Buy: Private park with cabin and geodesic domes for $184,000 in Los Lagos
- Rent: Four-bedroom apartment for $1,910 per month in Santiago
Author: Paula Froelich