When you’ve got a chunk of money saved up, you won’t see much growth if you leave it sitting in the bank. Investing is the way forward and buying property is one of the best ways to see a good return. Lots of investors are increasingly moving toward investing in property overseas for a number of reasons. The main one is price; the cost of housing is constantly going up and people often can’t afford to buy a house at home, but if you look overseas you can usually find something a lot more affordable. The other benefit is that you’ve got yourself a nice holiday home to use whenever you like which makes your holidays a lot cheaper.
However, there are some downsides to buying a property abroad. If you’re renting it out to people, that means you’ll either have to be back and forth all the time to deal with renovating it and showing people around, or you’ll have to pay a company to do it all for you. Either way, you’ll have that extra cost to consider. Having a holiday home isn’t all positive either; people tend to feel obliged to use it so you might end up going to the same place every year instead of trying new places. There’s also all of the different laws to deal with which makes the buying process a lot harder. Having said that, you can usually get a cheaper property and if you buy in an up and coming country, you’ll still make a good return on it.
If you’re considering buying a property abroad, these are some of the best countries for it right now.
If you’re looking for a property to rent out for tourists and use as a holiday home yourself, Portugal is a great choice. It’s a beautiful country with great weather and culture and prices aren’t too high. They are increasing as the country is a popular destination but rents are increasing alongside house prices so you’ll still see a very good return. The Algarve is a great area to go for because there are strict laws on building on the coast. That means that you aren’t in danger of being undercut by new properties that pop up in the area and your property is likely to maintain its price.
Lisbon is another good choice because it has a huge tourist industry. You won’t struggle to let the property all year round. The price of properties varies quite a lot so there are cheap options there if you haven’t got a huge amount of money to invest. Lots of property has seen a value increase of around 20 percent in the last couple of years so if you look at neighborhoods that aren’t that popular and buy a cheap place, it’s likely to increase in value a lot over the next few years.
Indonesia doesn’t usually spring to mind if you’re thinking about places to buy property but it’s an amazing country that’s on the rise at the minute. Prices are still fairly low but they’re likely to start increasing soon so if you get in early, you’ll see a big return. The country has the largest economy in Southeast Asia and there is a healthy tourism industry out there. You can find some great properties on rumahdijual.com/depok/ to get a good idea of the price. Be aware though, there are quite a lot of laws around foreigners buying property that can make it difficult. For example, if you’re buying a property in Jakarta, it has to be over a certain price. There are also some tricky laws about the land that the property is built on so if you’re considering Indonesia, speak to a lawyer first and get some advice.
Mexico is another country that’s becoming more and more popular with tourists so it’s a good option for buy to let. The property prices over there aren’t too bad but they’re not as cheap as a lot of other places around the world, however, the rental rates are good so you’ll still see a good return. The other main benefit is that rents are taken in US dollars but all of your expenses like repairs and utility bills etc. will be paid for in Pesos. You’ll get a lot of Pesos per dollar so it makes maintaining the property incredibly cheap. There is also a strong resale market so if you decide that you want to cash in on your investment, you won’t have any trouble selling up. Visit https://www.cnbc.com/id/48928221 for more information on buying property and land in Mexico.
Brazil already has a thriving tourist industry which means that property prices aren’t that cheap in a lot of the bigger cities. However, the Ceara region is an up and coming area where you can still get relatively cheap properties while still benefiting from the tourism. There has been a recent push to invest in infrastructure in the area so it’s only going to become more popular in the next decade. Now is the best time to buy a property there before the prices start to catch up with the rest of the country. Like Mexico, you’ll also benefit from the exchange rate in the country.
It’s surprising that Cape Verde has taken so long to become an established tourist spot because it has some of the most incredible beaches in the world. There has been a huge amount of investment there recently and some of the biggest hotel chains in the world are moving over there to meet increasing demand for tourists. Properties out there are reasonably priced and you won’t have too much trouble finding people to rent them as more tourists are flocking there every year. But the biggest benefit is that there are tax incentives available for private investors that are looking to buy properties in the country.
These are some of the best countries in the world where you can find great properties at affordable prices with plenty of tourists to rent them out to.
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