Natalie When looking at the easiest countries to buy property as a foreigner, the choice is much more important than the country. Investing abroad is exciting, but all buyers should approach the purchase with due diligence. Additionally, some countries are more welcoming to foreign investors than others, offering better prices alongside that easy buying procedure. So, in this article, we explore easy countries and look at their regulations, financial considerations, and benefits.
Easiest Countries to Buy Property as a Foreigner
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Portugal
Portugal previously gained a reputation as a foreign-friendly country for property purchases, mainly through the citizenship-by-investment program. However, in 2024, the legal requirements changed, and real estate property is no longer eligible. Portugal has also changed its Non-Habitual Residency Regime for expats. Despite this, Portugal offers excellent lifestyles and friendly natures towards foreigners, especially in the esteemed Algarve.
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Mexico for the Real Estate Market
Sitting near the United States and with affordable real estate prices, Mexico offers potential in certain places. Compared to the US, the low property prices per square meter make it an ideal direct investment for many US citizens, but in recent years, more Europeans have shown interest. The tedious bit is setting up a bank trust called a fideicomiso, which is required if the home is 50 kilometres from a coast or 100 kilometres near a border. Otherwise, you can receive your title deeds in 2 to 4 months.
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Spain for Easy Foreign Ownership
Spain’s allure lies in rental income potential, stunning architecture, and a warm climate. While passive income is a great lure (the country has the best-performing tourism sector), check license requirements before buying since these all changed in 2024. Additionally, if you buy an investment property worth $500,000, then real estate buyers can apply for the golden visa program, which eventually ends in citizenship. For locations most foreigners end up in the south of this beautiful country simply because of the hotter weather.
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Thailand
Thailand is a cheap country for foreign property buyers investing in real estate, particularly those interested in tropical living. Foreigners aren’t allowed to buy land, but you can buy a home on land on a leasehold basis for up to 30 years, with options for renewal. One great lure of Thailand is the cost of living, but the extremely friendly culture and rich history make it an ideal destination for expats. Bangkok, Phuket, Koh Tao, Chiang Mai, Koh Samui and Pai are the most attractive destinations.
5: Costa Rica
Foreign property ownership for foreigners is the same as that for residents in Costa Rica, and you need three main things. An agent registered with SUGEF, a lawyer and an escrow service. The lawyer will act as the notary. A home survey is necessary, and it can take several weeks. Most foreigners opt to buy in the name of a corporation to avoid the probate aspect, but other than that, the process is quite simple. Costa Rica is an attractive lifestyle option. Think lush rainforests, swimming pools, and property price growth.
6: Dominican Republic
This popular Caribbean Island offers delightful destinations like Punta Cana, Santo Domingo, and Puerto Plata. Compared to other Caribbean countries, average prices are excellent, and the Dominican Republic is excellent at the due diligence stage to ensure a good investment. Financial institutions offer loans to foreigners, although these tend to be more complicated than local ones.
7: Panama
This Central American country has attracted Americans’ attention for decades, and one look at Panama City will explain why. Its attraction of digital nomads and economic growth is prompting the city to be as famous as the canal with the same name. Panama runs the Friendly Nations Visa program, where citizens of certain countries who have professional or economic ties with Panama can obtain permanent residency and then receive a Panamanian ID (Cédula) and indefinite work permit indefinitely.
8: Greece
This European country is spectacular, with many destinations for an ideal real estate purchase. Most people think of Santorini as a foreign country with white-washed houses, yet Nikiti, Syros, Nafplio Kalamata, and Thessaloniki all win favour with foreigners. The Greek Island of Crete attracts those looking for permanent residency. In fact, after seven years of continuous residency, foreigners can apply for Greek citizenship, and the country does allow dual citizenship.
9: UAE
Real estate investment doesn’t get any better than in the UAE, where expats in places like Dubai enjoy not having to pay income tax. Foreign nationals outnumber locals in Dubai, although Abu Dhabi is another place attracting global attention from American buyers and corporate customers. Taking roughly 30 to 60 days, depending on the finance used and ready paperwork, the UAE also offers a long-term visa of 5 years for retired foreigners.
10: Turkey
This safe country is an all-rounder because foreign buyers can easily apply for residence, and the entry-level of the foreign investment citizenship scheme is just $400,000 for government-approved real estate projects, if you have a clean criminal record. You can also have dual citizenship. Additionally, if finances and paperwork are ready, get your title deeds in as little as a week! Major cities where foreigners head are Istanbul city centre, Ankara, and Izmir, although many ex-pats buy residential properties in the Aegean and Mediterranean coastal resorts. Please stay away from commercial property because this is a headache. As a safe country for foreigners, roughly 40,000 apartments and villas are sold yearly to them.
In which country can I buy a house and get citizenship?
Property buyers looking for the best citizenship real estate investment programs should know they much choice worldwide. Many countries offer a golden visa real estate citizenship program, where an investor purchases a house in return for the same living rights as a country’s citizen. The citizenship benefits include business community access, a second passport, visa-free travel, and freedom to work and reside. (Find out more here.)
Where is the cheapest place to buy a house abroad?
There are many cheap places, but it is worth mentioning that buyers should drill down locally. For example, Turkey is often considered an affordable destination. Still, if you look at house prices in Istanbul compared to rural towns like Altinkum, you will see a much difference in prices per square meter. Generally, big cities are costlier to buy in. Countries to consider, though, are plentiful, thanks to their emerging markets, which are not yet established.
Portugal, particularly the regions of Alentejo and interior areas, offers affordable housing options. Mexico offers low-cost homes in areas such as Guanajuato and certain coastal regions. While major cities like Barcelona and Madrid are pricier, regions such as Andalusia and the eastern coast (including towns like Valencia and Alicante) present opportunities for purchasing inexpensive homes, especially in rural or less touristy areas. Head to the north of Spain and you will find even cheaper prices.
Bulgaria has inexpensive homes, particularly in towns like Varna and Plovdiv. Turkey has affordable homes in cities like Altinkum and Alanya. Rural areas in Italy, particularly in regions like Sicily and Calabria, present opportunities to buy homes at low prices. Local governments sometimes even offer houses for €1 as part of revitalisation efforts. While islands like Santorini are expensive and complicated to buy in, mainland regions in Greece, especially parts of the Peloponnese, offer lower-cost home options. Ukraine, particularly outside Kyiv, has had some of Europe’s lowest prices.
Tips for a Safe Investment
Research and Legalities: Conduct local research, including average price trends, neighbourhoods, and economic outlooks. Always ensure the title deed’s legitimacy and do normal checks on the home and for foreign land ownership disputes.
Local Agents: Knowledgeable agents provide valuable guidance and, in addition to helping foreign nationals find properties, assist them in understanding the market nuances. There are English-speaking real estate agents in many countries that are popular with overseas buyers. On viewing trips, also assess the surrounding areas. Check out schools, hospitals, transportation, and amenities, because good infrastructure enhances home values.
Currency & Additional Costs: Fluctuations in exchange rates will impact your investment. Unfortunately, this is hard to predict and is just one risk of buying abroad. Be prepared for extra costs like taxes, registration, and legal fees.
Evaluate Management Options: If you’re buying for rental income, research local management companies if you won’t be in the country. They will handle bookings, cleans, deposits, and maintenance for set fees.
Returns and Trends: Analyse rental yields, capital appreciation, and ongoing costs. Monitor local market trends and economic indicators post-purchase. This will help you make timely decisions regarding residential property, whether selling, renting, or making improvements. Also, aim for mid- to long-term investment since flipping houses in foreign countries doesn’t work out for foreigners.
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We are Spot Blue, and we help foreigners buy homes overseas, from finding a dream home to getting connections to utility companies. If you are interested in part or sole ownership of overseas homes, see our portfolio of apartments and villas here. Alternately, contact an agent today and chat more about the easiest countries to buy property as a foreigner.
