Surprising Markets Where Foreigners Are Buying Up Property

Written by Emma Collins Posted On Tuesday, 14 July 2020 20:33

For the longest time, the United States has been dominating the residential real estate realm, even being named the hottest market for global residential property. We expect foreign investors to focus on them and on the other highly developed countries if they desire huge profit. Little did we know that there are unexpected countries having great potential in real estate investments, and foreign real estate investors are already flocking around them!

Ranked by MyBayut are the best places in the world for overseas property investments; some of which we wouldn’t think of placing our bets for a good investment. Who would have seen them coming?

Columbia

Columbia is surprisingly sparking foreign investors’ interests even as its market slows. Particularly, its city Cartagena has attracted more foreign buyers. Bogota, Columbia’s capital has also been an interest for international demand, ranging from Canada, U.S., Spain, to Latin American foreign residential real estate buyers.

Philippines

The Philippines is another country you wouldn’t expect to attract such a density of foreign buyers amidst its weakest performance in the residential market since 2009. It maintains a strong local and foreign demand due to its relatively high rental yield rate and lower tax on properties, for instance, house and lots. On top of that, foreigners find the cost of living here really cheap and combined with the astonishing beaches, who wouldn’t want to stay?

Panama

Foreign buyers from the U.S., Europe, Canada, and Latin America, however, has been on the watch for Panama after its global crisis in 2008. Foreigners can now own real properties here, too, such as beach apartments. Panama also has the highest foreign direct investment (FDI) share of GDP in Latin America, has proved foreign interests in this gorgeous country.

United Arab Emirates

The United Arab Emirates has also been gathering foreign attention to its residential properties, namely in Dubai, after easing up its rules for foreign ownership, following the passage of foreign property ownership law. This, in turn, has UAE nationals, followed by Indians, Saudis, British, and Pakistanis to start getting involved with the real estate status in the country.

Cyprus

Cyprus might have seen it coming, though, as the quality of life and economy head towards substantial growth in the past years. Confidence is returning to its housing market as well, with foreign interest in its properties continuously being a driving force for the residential market in 2019.

France

Lastly, being the number 1 tourist destination in Europe, it is not a surprise that the French real estate market is one of the most known areas for long-term ROI in the continent for residential real estate. It receives 100,000 foreign nationals each year who represent approximately 10% of all property sales in France. The property sales to foreign investments are even predicted to increase by 8% come 2020. This and the low-interest rate on French mortgages earned France a spot in being a desirable spot for foreigners to relocate or invest in real estate.

The interest in real estate investment has skyrocketed through the years, with many people considering it a safe investment. If you think about investing in housing properties overseas, you might want to consider the countries listed above. It might just help you land a great investment.

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