Buying real estate overseas can be a great investment choice, especially if you buy in a country which has a lot of tourism. Whether you are simply purchasing a holiday home or would like to buy an apartment that you can rent out on the likes of AirBnB or HomeAway, knowing where to buy is the first step you need to take.
Property markets vary from country-to-country and some places have better prospects than others. In addition to this, some countries aren’t as open to outside investment as others and place restrictions on foreign investment into the real estate market.
With that said, here are three countries which, if you are considering purchasing a foreign property, are worth looking into today. Looking for overseas property to buy can be confusing, however, by doing your research, the whole process becomes that little bit easier.
#1: Thailand
Although this may not have been at the top of your list, investing in the Thailand property market right now is one of the smartest things you can do. Not only is the country itself placed in a prominent position in the globe, it is surrounded by a ton of up and coming nations such as Myanmar and Vietnam.
Not only this, but Thailand is a hot destination for Western tourists and if you can nab a property in the Koh Samui or Phuket area, you are always going to find people who want to rent it for the short-term. Thailand is quite a restrictive country when it comes to investments, but it’s not impossible to do.
#2: Brazil
Brazil is a huge country that is full of different investment prospects when it comes to property, with some more interesting and lucrative than the others. If you are going to go for Brazil, it’s always best to stick to the coastal regions as these are top destinations for tourists.
By targeting the holiday market, you can see as much as an 8% net yield on your rental earnings potential.
#3: Dominican Republic
In the Dominican Republic, it’s the capital of Santo Domingo where the best properties are so far as holiday lets go. The Dominican Republic is a popular holiday destination, particularly for people heading on their honeymoons, and the country has enjoyed consistently strong growth for many years now.
There’s also increasing foreign investment and the country is open to this, with many business travelers investing into the country to take advantage of the economic boom it has been benefitting from. With over 6.5 million tourists in 2017, the Dominican Republic is very much an upcoming country which has a lot to give those who invest in its real estate market. If you have the capital, consider investing in a pre-construction apartment invested for the business travel market.
Investing in property abroad can be a great way to earn some side-income passively. Although you can always buy an apartment in Spain, there are several economies where far more benefits are to be had as their countries grow stronger.