So, you are looking for a place in the sun, to enjoy sandy beaches, alfresco dining, mild winters, and fun summer holidays. Owning a place overseas does bring a lot of benefits. Not only does your second home provide an excellent base for holidays but also the chance to immerse yourself into a new culture, enjoy worldly cuisines, and maybe even become bi-lingual. But asides from that fantastic suntan and sipping cocktails by the pool, how do you decide which country is best for your real estate investment?
There are many countries to choose from, but five lead the way in sales to foreigners. The reasons vary from secure buying procedures, renting potential, affordable prices to flying times from the UK. Many people who buy a holiday home abroad, also look to retire in later years, and they investigate what an ex-pat lifestyle in that country entails. Let us look at the top countries for overseas buyers, and reasons for their success.
For decades, British home buyers have enjoyed living in Spain. Lured in by more than tasty paella and poolside Sangria, working professionals often choose the enormous cities like Madrid. The Balearic Islands, Mijas, and Murcia are also famous. For a holiday home or place to retire, the Costas always comes first on the list.
Including the Costa Blanca, Brava, Del Sol, and Costa Calida, these throw up a multitude of towns, and villages to consider. A few buyers opt for the inland, traditional Spanish destinations, but many choose resorts on the coastline.
Alicante on the Costa Brava is a time-honoured favourite, for families. Marbella on the Costa Del Sol promotes an upmarket lifestyle drawing in millionaires from around the world. Up and coming places with mass investment by local councils and business include Le Manga Del Mar and Canyamel Pins.
Aside from these destinations, how does Spain make for an excellent real estate investment? Well, everyone knows about the 2007 crash, when house prices took a massive nosedive, and they are yet to reach that peak again. Its vast tourism market also makes it an ideal playground for anyone who wants to let their property out, either to recoup running costs or for a Buy-to-let investment.
Add to this the impressive transport network, a vast diversity of regions, and the Spanish sun, and it is easy to see why many foreign buyers choose Spain. The following articles will be of use to anyone who has put Spain on their list.
Ah, Vive la France. Sitting just across the English Channel, France has always been a weekend getaway destination. Yet over the last ten years has increased in popularity. The first reason is that many people look to move and live there in their retirement years.
The second is that France’s tops the list for prime ski resorts. The latter is seeing much interest from property investors who are tapping into the move by ski resorts to turn themselves into a summer holiday destination. Mass investment in ski infrastructure and transport Is also underway as ski resorts compete to capture the first position in both the tourism and the property investment market.
Paris is the leading destination for city living. Its reputation for culture, cuisine art, fashion, and shopping never cannot amaze and always captures the interest of intellectuals who want to be in the heart of inspiration. The city, a mass metropolis with a varied history, carries with it, a nostalgic vibe. As one of the world’s leading metropolis, buyers don’t think twice about the pay off between high property prices for a slice of Parisian life.
Portugal wins favour for two chief reasons. The first is following in celebrity footsteps, which brings with it a status of prestigious. Many famous stars including Madonna and Cliff Richards have purchased luxury properties in Portugal, and once you look at their luxury portfolio of apartments and villas, you can understand why. From the traditional Portuguese to the clean-cut modern villas featuring award-winning architecture, the portfolio is impressive.
The second reason it attracts every hardcore real estate investor, is it Golden Visa program which gives buyers enhanced living and working rights and access to Europe. Anyone who knows their geography will testify that Lisbon is where it all happens. Popular areas to buy in include Baixa, Belem and beautiful Comporta with sandy beaches, scenic landscapes, and a relaxed pace of life. Reasons, why people buy, include the golfing industry, a stable economy, and high-quality lifestyle, besides tax incentives and for real estate investors, a thriving rental property market.
Need we say more about the great United States of America. Offering anything and everything unique, it excels in shopping, nightlife and that famous American food. Millions of people visit America every year, making it a top tourist destination and ideal opportunity for buy-to-lets.
Made up of 50 states, covering over 9 million kilometres, buying an investment property in the USA can be a minefield unless you know your budget, what you want and the typical lifestyle that each state offers. Call our office today if you want to know more or have questions about buying a home in the USA.
Popular places include West coast Pacific Ocean districts, East coast Atlantic areas, and Orlando that is home to the famous Disney World. The United States isn’t just popular with holidaymakers. Many foreigners look to live and work there, or either retire to live out their dream years, in a country, which offers similarities like the language, yet has a unique culture. One thing to consider when buying a property in the USA is the climate. Given its vast size, it has several climate zones, and these are worth researching if you want to use your holiday home all year round.
It might surprise anyone who is not knowledgeable in this part of the world to see Turkey on the list of international real estate, yet in 2019, they sold 45,000 apartments and villas to foreigners from all over the world.
Popular destinations for buying property are Istanbul, Antalya, Fethiye and Bodrum. Istanbul attracts investors buying new homes, who want to capitalise in its expansion on the European side. The second, Antalya is a Mediterranean region made up of smaller resorts but attracts property buyers because it also has Turkey’s top beaches.
The Fethiye region made up of Calis beach, Oludeniz, Hisaronu, Ovacik and the countryside Uzumlu attracts British expats with its stunning landscapes. While Bodrum over on the Aegean coast is more upmarket and makes a roaring trade with the sailing world.
Two reasons people choose Turkey’s property market is bargain prices starting at £50,000, and hospitality. It is engrained into Turkish culture, and for holidaymakers or retirees, settling down and fitting in is done. The buying process for a property is also quick, and if you need not borrow money, so your finances are in place, you can put the keys in the door, in as little as three weeks.
Such is the potential in Turkey’s housing market, anyone looking at a mid to long term investment would do well to consider it. The following articles will be of use. Whether you want a family home, or to buy for capital growth, Turkey has much potential.
Also of Interest
Best European Countries to Retire To: Many people have a dream to up sticks and live abroad, but deciding which country is best for you, can be a costly process if you believe in the first-hand experience. For these reasons, HSBC published their report based on the quality of life, and other significant factors, so when you buy your place in the sun, you can make an informed and wise decision.
About Us: We are a London based real estate agent specialising in overseas property. If you want to buy a property abroad, contact us today for impartial advice and to answer questions you may have. Our properties for sale, including off-plan, new build and resale, apartments, villas, and chalets. Whether you want to buy a house for a rental income or for a dream home in the sun, we can help you on your property search to find the perfect home matching your budget and lifestyle.