With economic uncertainty dominating the news headlines, more and more UK citizens are looking to invest their money in real estate in different countries, but deciding where to spend their precious pounds is a tough call.
Transferring money to foreign shores is no longer the nightmare it used to be, thanks to technology-driven solutions providers such as Privalgo, making it as easy as a few clicks of a mouse. All that’s left is to decide is how to invest it, with competitively priced overseas real estate a steadfast option, with numerous countries to choose from.
For property owners who aren’t afraid of a little hard work, Portugal is a hive of potential, with numerous renovation properties to purchase.
The Algarve has long been a favourite holiday destination, with increasing numbers of people visiting Portugal for a dose of culture, sun and good value. Buying a renovation property and restoring it cost-effectively can offer an impressive rental yield – what’s more, non-residents are able to apply for mortgages.
On the radar of savvy property investors, Montenegro, with its impending EU membership, is proving increasingly popular with holidaymakers the world over.
A picturesque part of the world with historic stone buildings to admire, a purchase here will certainly pay dividends in the not-too-distant future. It’s worth noting that due to the small size of the county, there are not vast numbers of properties being marketed and real estate is starting to move quickly.
Another English-speaking popular option for overseas property purchasers, Canada benefits from being monetarily stable in its own right. The tourist trade is steady, too, meaning that holiday homes will be a sound investment.
Buyer beware: there are few low-cost properties to be snapped up in Canadian cities, with rural areas potentially proving more cost-effective.
With a government in place that actively welcomes foreign investment, buying property in Costa Rica has become far more straightforward and prices are surprisingly reasonable.
Owning property in Costa Rica affords people the same constitutional rights as national citizens, and thanks to the tropical climate, retiring here would be just as viable an option as buying a holiday home for renting out.
Panama is something of an isolated haven, offering visitors the best of tropical beaches and exciting city nightlife. Because of the variety of experiences on offer, Panama is a hugely popular holiday destination, making property rentals a steady potential income generator.
Americans have been retiring here in their droves, citing the low cost of living and excellent climate as their main motivations.
Not for the faint-hearted or shallow-of-wallet, Singapore is an expensive country to buy property in, but with an ever-increasing profile, it looks set to offer great investment opportunities.
A financial safe haven in Asia, there will be little to no risk of any Singaporean investment losing value. This is even more pertinent given the fact that Singapore is the world’s fourth-leading financial centre.
Taking advantage of a weak currency is a shrewd investment move and Brazil has one ripe for the picking. However, choosing the right region to buy property in is key, and while urban locations might seem to make perfect sense, it’s the beachfront zones that offer the most return.
Fortaleza comes particularly recommended, thanks to overseas and domestic holidaymakers flocking to the beach.
Evergreen in terms of holidaymaker popularity, Thailand offers enormous potential in terms of property ownership, although the restrictions can take a little getting used to.
Condos can be owned freehold, but land can only be offered on a leasehold basis, so most overseas investors focus on the apartment side of things. Most people aren’t discouraged by this, as Thailand enjoys a stable economy and an incredible tourist trade. In fact, Bangkok was the most-visited city of 2018.
Forget what you think you know about Mexico and look at it objectively, as a potential property owner.
This is a staggeringly popular holiday destination, increasingly so with more affluent travellers, and even in the most popular regions, good-value properties can be found. Puerto Vallarta in particular will almost certainly generate excellent rental income and be a ready-and-waiting holiday home for owners.
Recent political upheavals have seen a dramatic drop-off in terms of overseas buyers investing in property, but this presents a fantastic opportunity for smart shoppers.
Istanbul was in the top 10 most visited cities in the world in 2018 and the surge in tourism means there is huge rental potential. Add in the fact that buyers with almost any budget will be able to find a suitable property in Turkey – suddenly, it makes sense to consider this increasingly popular hotspot.
A combination of weak currencies, steady tourism and openness to foreign investment make for the most promising overseas real estate purchases in different countries, but remember that there is no magic formula to rely on.