When it comes to making your first property purchase abroad or growing your existing portfolio of foreign properties, it’s essential to know where to focus your efforts and finances in the current year.
The international real estate market is experiencing an upsurge like never before. As an avenue for solid investment, offshore real estate is an outstanding choice due to its tangible nature, potential for diversification, and prospective currency advantages. If you’re aiming to develop a cash flow while amassing tangible long-term wealth, this could be your golden opportunity.
When it comes to making your first property purchase abroad or growing your existing portfolio of foreign properties, it’s essential to know where to focus your efforts and finances in the current year. This guide will help you navigate through some of the best locales to buy property in Portugal, find real estate for sale in Turkey, and explore other profitable real estate markets worldwide.
Panama
Panama tops the list as one of the most attractive places for real estate investment overseas. It’s particularly recommended for rental apartments and agricultural opportunities. Panama City remains a buyer’s market in 2021 despite slower resale transactions. Long-term, the outlook for Panama City’s rentals market is positive, despite slightly softened rental prices compared to a few years back.
Turkey
Real estate for sale in Turkey is experiencing a boom, with property sales escalating at an unprecedented rate. A substantial part of these sales can be attributed to foreign buyers. Istanbul, Turkey’s vibrant and historic city, is the hub of property transactions. The city has seen a significant rise in tourism, along with strong economic growth due to an expanding population and a growing middle class.
Poland
Poland may not be the first name that comes to mind when thinking about overseas property investments, but it’s an Eastern European gem that should not be overlooked. Krakow, Poland’s tourism capital, was witnessing a flourishing tourist industry before the pandemic and expects a return of tourists soon. The city is also a student hub, leading to a high demand for both student accommodation and vacation rentals.
Brazil
Brazil, a vast country with diverse property markets, offers many opportunities. The Fortaleza area is a prime focus, famous among Brazilian holidaymakers. Investment in beachfront properties along this coast yields significant returns, with lot prices being globally competitive.
Dominican Republic
The capital, Santo Domingo, is a hotspot in the Dominican Republic. The country is witnessing remarkable growth and an influx of foreign direct investment, making it a profitable destination for property investments.
Thailand
While Thailand is primarily known for agriculture, it’s also recognized for its robust economy and growing tourism industry. However, property ownership laws can be a limiting factor for foreign investors.
Portugal
In Portugal, it’s worth considering underexplored areas along the Algarve coast and the Porto region north of Lisbon. Portugal’s property market has been on an upward trajectory since 2015, offering good value and opportunity for investors willing to undertake renovation projects.
France
Paris, a city that never fails to enchant, remains a wise long-term investment choice. Real estate prices fluctuate, but owning property in Paris is considered a secure long-term asset. Currently, favorable exchange rates create lucrative opportunities for American buyers, not only in France but also in Portugal.
Mexico
Mexico continues to be a top pick for Canadians and Americans for vacation and retirement purposes. Its local tourism market is flourishing in 2021 due to travel restrictions and a burgeoning middle class, making Mexico an excellent choice for property rental investments.
Belize
Belize’s Ambergris Caye, with its tourism and expat markets, is expected to grow steadily through 2021 and beyond. The Belize mainland, particularly the Cayo district, is also promising, where superior rental properties can fetch a good return if priced competitively relative to the local hotels.
Photo by Karol Chomka on Unsplash
