People all over the world invest in real estate markets for different reasons. Some want to secure their future, while others simply consider property rentals a decent source of passive income.
Despite the differences in these reasons, there’s one thing that remains constant for almost everyone looking to invest in real estate: the desire and allure of the foreign real estate market.
Why? Well, the grass is always greener on the other side.
In truth, the foreign real estate market can be both lucrative and tricky. If you’re thinking of making such an investment, you are in the right place. Keep on reading to find about the best and the most affordable real estate options abroad.
Why should you invest in property abroad?
Investing in foreign real estate is often fruitful. Smart landlords typically invest in real estate abroad to diversify their portfolio. Receiving rent payments in a foreign currency is a sure way to expand your monthly income considerably—depending on that currency, so it’s important to pick your market wisely.
Some landlords buy rental properties specifically for renting them out. Other landlords purchase a property initially for leisure purposes—like an apartment for a child to study in while they are abroad—and then turn it into a rental unit after the child returns home.
But, how can you make sure that your property is maximizing your return?
You need to ensure that the foreign markets have cheaper costs and higher returns.
With this philosophy in mind, here are three countries with real estate markets that you should consider if you’re looking for a good bargain on a property abroad.
Investing in real estate in Brazil is great for yourself if you’re thinking of moving there, but it would also be a good option for a rental.
Two of the most favorable places in Brazil for real estate bargains are Itamaraca and Vila Velha. Both Itamaraca and Vila Velha have lush green surroundings, sit far away from populous smog-choked cities, and they are great for anyone who wants to invest in some beachfront property.
The costs at both locations start at $50,000 for a middle-sized 2-bedroom beach home. Make sure you follow the Brazilian property law and sign rental agreements that use Brazilian currency only.
Mexico is another great location to own property, and it can really be a bargain if you do research.
Previously, Mexico’s real estate market was quite expensive, and many couldn’t invest there. However, things have changed and people are now buying properties in this picturesque region.
Alamos is an ancient mountain town in Mexico with several investment options. Most of the properties start at $35,000 and offer solid investment returns. Luckily, Mexican laws are quite encouraging of foreign real estate investors and don’t usually impose extra taxes or regulations on foreign buyers.
While it seems unreal, Italy is one of the world’s cheapest real estate markets. You can quickly negotiate affordable property if you’re ready to live in lesser-known towns.
The cheapest Italian real estate investment option is located on Sardinia Island, where you can buy homes starting at $1. Yes, a single dollar!
Of course, you’d need to renovate the entire home yourself and can’t expect to rent it out easily. You can’t sell it until five years after your purchase either. Given the cheap cost of the property, you can utilize your money on renovations and reap returns once you’re done.
Image by Rafaela Biazi