In a previous article we talked about the benefits of investing in real estate in the United States, but what about investing in real estate abroad? While there are many great opportunities to purchase land and homes in foreign countries, some locations are better than others for foreign investors. We have compiled a list of the top 3 places to begin your real estate investing abroad.
Not only does Spain offer a great climate and laid-back lifestyle, but the country also allows foreigners to purchase property freely. While you can not purchase property near any military land or international borders, you are able to qualify for in-country mortgages. And with reasonable prices when it comes to the sale of property, Spain just might be the place for you. You will want to keep in mind that it is best to thoroughly research the land or property you choose to make sure you stay up on applicable country & planning regulations.
There are so many beautiful places in Italy, who wouldn’t want to own property there! When it comes to foreigners purchasing property in Italy, they are allowed to as long as they are members of the European Union or are from a country like the U.S. that has reciprocal owner agreements. When buying property in Italy you will also follow a very strict, yet straightforward procedure. The only thing that may hinder your decision to purchase property in Italy is that it can take a while to find the right land or home for you. Most land and property in Italy is passed down from generation to generation, so I guess you could say it’s not really a buyer’s market. You have to be very patient and take a good opportunity when it comes your way. But once you do own property in Italy it will all have been worthwhile.
Not only is Costa Rica another country that boasts an amazing tropical climate pretty much all year round, but the scenery is also beautiful! Foreigners also have the same rights and protections as any other Costa Rican citizen when it comes to buying property & holding the title to the land. One important thing to remember is that no one is allowed, citizens included, to build or own land on any beaches that are in the MaritimeZone, which is from the high-tide zone up to 200 meters inland. Prices for real estate are slightly on the rise but they are still deemed more affordable than both Europe and the United States. You should also beware that there are no requirements on licensing when it comes to buying or selling property, so it is best to find an experienced and credible broker to work with.
While there are so many great countries that do allow foreigners to buy property, these three countries are some of our favorite. Not only do they all have great climates and beautiful scenery, but they also allow foreigners to purchase land & property and the buying process is relatively simple and to the point.