SECOND & THIRD TIER CITIES: TOO RISKY?

When an economy is booming and credit abundant, the value of land and property in smaller cities generally outperform. I witnessed this in 2nd and 3rd tier cities such as Hua Hin, Khon Kaen, Udon Thani and Chiang Mai when I was living in Thailand. I’ve observed the same pattern in TO READ ON SUBSCRIBE AND BECOME A PATREON.

  • Traveler

    Nicely written. I’m curious, condering your rule on capital cities, why would you pick Medellin over the capital Bogota?

    • Harald Baldr

      Medellin is a more beautiful city. As the country’s second biggest it qualifies as a first tier city as well. It’s also much more livable than Bogota and will continue to be so in the future. It also appears to have better governance and is doing its utmost to attract international businesses.

  • Kiri11

    Hi, Harald!
    I’m Russian, has been living in Norway.
    I started reading your blog after I moved to Kiev three weeks ago. It helped me a lot navigating local nightlife and finding interesting places. Also I’m planning to take your advice on investing, because Norwegian kroner exchange rate currently sucks, I lost a lot due to inflation.

    Would be nice to meetup, if you visit Kiev again!
    You can even stay at my place if you want, I have a free room and travel a lot.

    Thanks again for great articles!

    • Harald Baldr

      That’s great that you find the articles useful. Happy investing!

      I’ll be back in Kiev for sure and would be curious to hear a Russian’s take on life in Norway.

    • Chris Popov

      You had no issues as Russian in Kiev? I am afraid to go to Ukraine, as I am pro-Russian (I am not Russian) and might get into trouble if I got there πŸ™‚ For example I will speak in Russian to people.

      • I know your question was addressed to Kiri, but before he gives you his answer I’d like to say this. I went out with 8-9 Ukrainian friends a few weeks ago and we discussed this in depth. They are all from Kiev but speak Russian with each-other. They also told me that everyone in Kiev speaks Russian and not Ukrainian.

        I honestly don’t hear the difference between the two languages so don’t know if this is true. But in general they and everyone else I talk to are angry at Putin, and not Russian people or speakers of Russian. My foreign friends here also only speak Russian and haven’t had any issues.

        Hope this helps.

        • Kiri11

          Thanks, Harald! True, there is no issue with speaking Russian even after so many attempts to get rid of it. https://en.wikipedia.org/wiki/Ukrainization

          Occasionally I meet someone who speaks Ukrainian, and I can usually understand everything they say, even though I never learned Ukrainian. They do not recognise me as foreigner if I don’t state it specifically. And indeed, I don’t feel abroad. We have several regions of Russia, which are a lot less Russian then Ukraine.

          Some might argue that there was no such country as Ukraine until very recently and no such language as Ukrainian until about 200 years ago. https://en.wikipedia.org/wiki/Ukrainian_language
          Others might say there are no languages at all http://www.theatlantic.com/international/archive/2016/01/difference-between-language-dialect/424704/

          Either way, the question is a lot deeper than it seems.

          Some of my colleagues are very nationalistic, they hate everything Russian. They do not hate me, for some reason. Maybe because a personal relationship is stronger than the stereotypes. We have some points where we don’t agree, of course, but it’s far from getting in trouble. They respect my freedom of speech and I respect theirs.

          To Harald: I’m renting out my place (large 1-bedroom apartment in city center) for first three weeks in March for 10 000 grivnas. So cheap because I will be leaving anyway. Contact me in Instagram if interested.

          • I would take you up on that offer Kiri but I’ll be visiting a friend in another country that whole month. Sounds like a great deal though)

  • Brianmark

    What are the laws about foreigners buying property in Ukraine. What restrictions do they impose? When I lived in Kharkov, the two apartments I rented were owned by an Aussie man.

    • Harald Baldr

      Foreigners can own outright regardless of residency status. So it’s pretty sweet. Only exception is agricultural land.

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