Yahoo Finance Buy Real Estate in These 5 Countries To Be Rich in 10 Years
The fantasies of buying a home or other property overseas have very real appeal: You can imagine luxuriating in an Italian villa or exploring the great pyramids of Egypt after a short ride from your elite condo. Or maybe you’re a more cosmopolitan sort, looking forward to the glamor of Tokyo.
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What if, with a little flexibility and creativity, you could turn that daydream of living abroad into a reality that actually helped you earn money? Some global real estate markets are conducive to making a pretty penny.
GOBankingRates talked to some experts to determine a few of the countries that could be your next destination for wealth.
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Portugal
Alek Petreski may be the founder of New Jersey Real Estate Appraisal but he has expertise in global markets, and he’s excited about Portugal as a “real estate hotspot.” He said that part of what makes the country shine brightly is its Golden Visa program, which gives residency to foreign investors.
With a stable economy and high quality of life, along with gorgeous coastal regions and chic cities make it a prime location for property investment.
“Cities like Lisbon and Porto have seen substantial growth in property values, driven by increasing demand from both locals and international buyers,” he said. “The potential for high rental yields, especially in tourist-heavy areas, further enhances the investment appeal.”
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Vietnam
Vietnam is another leading destination for real estate investors in part because of major infrastructure development and increasing volumes of foreign direct investment in cities like Ho Chi Minh City and Hanoi.
Petreski said that the country’s bustling population of young people and expanding middle class have contributed to a demand for residential and commercial properties. “With relatively low property prices compared to other Asian markets, Vietnam offers excellent potential for capital appreciation,” he added.
Mexico
Savvy investors are looking South of the Border to Mexico’s flourishing real estate market, which Petreski said offers ample opportunities for vacation homes as well as long-term investment properties.
“Popular destinations such as Cancun, Playa del Carmen, and Tulum attract a steady influx of tourists, driving demand for rental properties,” he explained. “Additionally, Mexico’s proximity to the United States, favorable climate, and affordable cost of living make it an appealing choice for retirees and expatriates.”
Australia
If you want to come up on top in the real estate investment game, you’d do well to look down under – specifically Australia. According to Adam Chahl, founder of Vancouver Home Search, Australia’s stable economy, along with its high standard of living and strong immigration policies drive demand in the real estate market.
Chahl said that Sydney and Melbourne consistently rank high for property investment. “In my opinion, the resilience of these markets even during global economic downturns makes Australia a safe bet,” he added.
Canada
When it comes to strong real estate markets, The Great White North might be a place to make some real green. Chahl said that Vancouver and Toronto are particularly known for their high quality of life, including cultural diversity and strong job markets.
“For me, Vancouver’s consistent demand for housing, driven by its desirability as a place to live and work, makes it a solid investment choice,” he said.
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This article originally appeared on GOBankingRates.com: Buy Real Estate in These 5 Countries To Be Rich in 10 Years
