By Ronan McMahon
For International Living

Next year is going to be the most exciting one real estate investors have seen in a decade. I’ve got my eye on four spots, in particular—diverse opportunities around the globe, each of which represents an excellent value play.

1.) In Brazil, I’ll show you a way to capitalize on that nation’s continuing boom, particularly along the North-East coast.

That region boasts some of the world’s most glorious beaches. With big infrastructure projects on the horizon, it’s an area where the already-increasing property prices are going to spike in the months to come.

2.) In Europe, projects and banks are in deep distress. That has created pockets of opportunity where you can buy quality cash-flow property for 50 cents on the dollar in prime European cities.

3.) In Costa Rica’s southern zone, a new coastal highway is set to open in 2010 and an airport is on its way.

With improved accessibility, property prices here will increase, just as they have elsewhere in the country when better roads have gone in.

4.) And in safe, stable, cultured Uruguay, there is an undiscovered stretch of coast big international developers have just begun to snatch up.

Rich Argentines have been coming here for generations—but keeping the secret to themselves. The best beaches and seaside towns in Uruguay are here. And now’s the right time to stake a claim.

These are the four markets I’ll be keeping the closest eye on in 2010.