Buying real estate is considered a long-term investment that will, ideally, form part of a portfolio that will generate passive income for years to come. Real estate is considered a hard asset that will contribute to a person’s overall net worth. Once a person has decided to make the leap to acquiring real estate, deciding where to purchase a house, apartment, or condo is the next logical step. Fortunately, buying real estate overseas is both easy and safe, and there are many beautiful countries that are candidates for investment. Some of the best places to buy real estate overseas include:
- Panama: long beloved by North American and European investors, Panama has recently become popular amongst the Chinese. As seen in other locales such as Vancouver, an influx of Chinese tourists helps the economy to grow mightily. Acquiring an apartment allows you to rent to visitors and reap the benefits of a strong Panama City economy.
- Thailand: foreigners are not allowed to own land outright in Thailand, which might give some investors pause. However, foreigners can own the freehold title on the land, and they can own condos freehold with some restrictions. Considering Thailand’s breathtaking beaches and popularity with tourists, a condo might be a wise choice.
- France: France, especially Paris, has long been a fabulous and robust real estate market to invest in. The current strength of the US dollar makes affording a small piece of Parisian joie de vivre possible, and France also offers in-country financing for foreigners. As Paris is eternally popular with tourists, an owner does not have to worry about his rental sitting empty for long.
- Mexico: Americans and Canadians love Mexico, both for vacations and for retirement. Rental properties in popular tourist areas such as Playa del Carmen will be used consistently and will make money. Mexico also offers to finance for foreigners, generally through approved US lending institutions.
- Turkey: Exotic and fascinating, Istanbul is becoming a player in global real estate. Rental units are affordable, which allows many investors to enter the market. Turkey has a strong middle class and an expanding tourism sector, both of which bode well for real estate investments.
Buying real estate overseas is a sound investment for the future. As a bonus, you have a ready-made vacation destination!