Best Offshore Residential/Vacation Locations

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I recently had a conversation with a colleague about some possible locations ideal for acquiring and holding (or building) offshore vacation and residential properties. These locations were sort of central to that discussion. Anyone here with direct knowledge or experience living in any of these areas or know of someone that does? Or aware of any stories (from a real estate investment standpoint), good or bad, of any of these areas?

Europe:
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* Bucharest, Romania
* Lisbon, Portugal
* Nicosia, Cyprus
* Abruzzo, Italy

Asia:
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* Ho Chi Minh, Vietnam
* Hong Kong
* Bangkok, Thailand
* Shanghai, China

South America:
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* Basseterre , Nevis
* Belize City, Belize
* GeorgeTown, Cayman Islands
* Santa Cruz, Bolivia
* Managua, Nicaragua
* Panama City, Panama