Second Homes
A second home is a decision about time, not square metres.
Before the market matters, one question does: how many weeks a year will you actually be there, and what should happen to the house the rest of the year?
Three Honest Questions
How often will you go?
Under four weeks a year, a well-run rental or a hotel residence usually beats ownership. Between four and twelve weeks, ownership starts to make emotional and practical sense. Above twelve, the property becomes a second base and the criteria change again.
Who looks after it?
Distance is the real cost of a second home. Buildings with strong management, or towns with established property managers, quietly protect the experience — and the asset.
What happens if plans change?
Life moves. We weight resale liquidity heavily, which is why we prefer well-located, conventional homes over unusual ones, however charming.
Comparing Our Four Markets
None of these markets is objectively best. They suit different intentions, and the honest comparison is about fit.
- Miami
- Frequent, easy access from the Americas and Europe, a deep and transparent resale market, and a lifestyle that works year-round. Highest holding costs of the five, driven by taxes, insurance and association dues.
- Costa Rica
- The strongest case for a nature-led retreat with genuine seasonal rental demand. Requires more attention to title, water and access, and more budget for maintenance and management.
- Portugal
- Best suited to buyers who want a European base with walkable cities, coastline and a slower rhythm. Purchase costs are meaningful; restored quality is scarce and holds its value.
- Madrid
- The strongest case for a full European capital: schools, hospitals, culture and year-round use, with long-let demand rather than seasonal rental. Prime restored apartments are scarce and purchase costs are meaningful.
- Medellín
- The lowest entry price and the most consistent spring climate, with more currency and regulatory variability. Rewards buyers who choose a well-run building in a proven neighbourhood.
What We Model Before You Commit
- Total acquisition cost, including transfer taxes, legal and notarial fees and any developer contributions.
- Annual holding cost: property taxes, association or condominium dues, insurance, utilities and management.
- Realistic rental income, net of management and seasonality — not gross headline rates.
- Ownership structure and its cross-border tax consequences, confirmed with qualified local advisers.
- Exit: who the next buyer is, and how long comparable homes take to sell.
Read The Market Pages
Tell us how you want to use it. We will tell you where it belongs.
Advisory and introduction services only. Costs, rules and tax treatment vary by jurisdiction and change over time; obtain independent local legal, tax and financial advice before any purchase.