In most cases, the best country to invest in real estate is the country where you already live, because your habits and living standard build up according to what it has to offer. But, some people have to move for different reasons, mostly economic ones, or maybe they want to own some property in a highly demanded city abroad, so they can rent it to tourists, students, or people who go to work there.
There isn’t any trend you have to blindly follow in cases like this, but surely you have to check the market there before you decide to invest your money. The first thing you have to check is if it’s rentable for you, and can you earn more from it than you will spend on taxes and maintenance. If so, you can proceed with your idea.
Right now, there are a few hotspots around the world when it comes to buying a new house or apartment, and in this article, we will check most of them:
Before the COVID-19 pandemic, Germany was a dream place for almost all European people, because they see a chance to live there, pay low rents compared to the salaries they would earn. Many families from Balkan or Eastern Europe are moving to Germany because it’s the best place for them to work hard, but also earn money, especially when they come from a poor country. Some of them will, at some point, be able to buy their own home there. And for those who can afford to buy a property, Germany is an ideal place because of the rich real estate choice for a competitive price, and great cost of living to income rate.
According to trendyhome.ca, Cyprus is a very promising destination for those who want to make more of their life. It’s not just that the market is competitive, and the quality of life is great, but this country is gaining more and more popularity as a tourist destination. So, if you think it’s the right call to buy a property you will rent on Booking or similar services, you can really go for buying one in Cyprus, while the real estate market is still available and affordable.
Visiting Panama is not just a vacation, is a whole life experience, since it’s highly developed, and surrounded by the Caribbean Sea and the Pacific Ocean. Knowing that the Panama Canal is located there, probably you are already aware of how important a strategic point this country is. And now, imagine having some property there, at the border between North and South America – the bridge of the world. Even though they are trying to focus on local investors, they will let the foreign ones buy a property, if they have a good offer.
This is another European destination, especially if you don’t focus on Paris. The landmarks and nature around make this country perfect for those who still want to live around the urban area, but don’t want big cities. Also, foreign investors have affordable conditions when buying a property there. Their tax system is easy to understand and complete, and according to many people, it’s lower than in other European countries. Probably, if you have money and you want to invest them somewhere out, France is a great choice for you.
5. The USA
We will be realistic at this point. The USA’s market is not the best and not the most affordable, but knowing how many foreigners move there to live and work, having property there can be the real deal for those who can afford it.
This is one of the biggest world economies, which is also very attractive for the people who want to invest in some real estate. Knowing the fact that Canada welcomes a lot of immigrants, visitors, seasonal workers, and foreign students, it can be a great place to choose to invest your money.
This country had a huge development leap in recent years, and now is one of the most popular places in Asia. It became a huge economy and real estate market in only a few years, and even though the apartments there are pretty expensive, those who can afford to buy them can be sure they did the right thing.
When it comes to foreign workers, Australia also has an open policy, and the people who arrive there will always be able to buy their own homes after a few years of working. Until then, they usually need to rent a house to live in. For the investors, Australia is a paradise, because every day, the potential returns of the investment are becoming bigger and bigger.
This is another interesting real estate market in Europe, and no matter where the property is based, it will anyway be a good investment. Their economy is constantly growing, and you can see the profit and returns almost immediately.
It has a vibrant culture because it connects two continents, but at the same time, they are pretty authentic too. There are many attractive houses and apartments, and you don’t have to be in Istanbul – there are plenty of other attractive places around that can even increase the returns, especially if you use the property for tourist purposes. Also, the healthcare there is great and generally affordable, and medical tourism there is on a high rise.
It’s not just the real estate market you will have to check once you decide to invest in a property abroad. If you have intentions to move there together with your family, you have to explore the job options, the education system, the general safety there, do they have good healthcare, and many other things that can affect the quality of your life.
You have to take all these things in mind, because if the country isn’t safe, and doesn’t provide proper protection to the citizens and people who visit it for different purposes, then it’s not a good place for real estate investment too.