5. Best Places To Buy Real Estate Overseas: Mexico
Mexico remains a top destination among Canadians and Americans for both tourism and retirement. Thanks to restricted travel and an expanding middle class, Mexico is enjoying good growth in the local tourism market in 2024.
All that combines to make Mexico a top choice for a property rental investment.
Top markets include Puerto Vallarta on the Pacific coast and Playa del Carmen on the Riviera Maya. In both of these popular tourist towns, a rental property can generate excellent yields.
Branded cities hold a big advantage for property investors since their public image alone goes a long way toward making the case for visiting, buying, or investing.
When it comes time for renting or resale, your life is easier if you’re in a branded city.
What’s more, the operating cost for a property in Puerto Vallarta is inexpensive, thanks to the current strength of the U.S. dollar.
It’s no longer at its peak, but it’s still strong by historic standards. Your taxes, restoration costs, furniture, and upkeep will all benefit from a strong dollar.
Mexico offers financing options for non-residents, generally from U.S. lending institutions set up in Mexico specifically for that purpose. So, that is also a big reason why they’re part of the best places to buy real estate overseas.
Also, expats go to Mazatlan to live (or stay seasonally) and usually end up in the historic district in Centro. Sometimes it’s when they first move here, and sometimes they migrate to Centro a few seasons later.
6. Best Places To Buy Real Estate Overseas: Belize
Belize is both a retirement haven as well as a great place to pick up a second home that can produce income for you before or during retirement. Located on the east coast of Central America’s Caribbean Basin, Belize is lined by hundreds of island cayes—the largest one of them is Ambergris Caye.
Ambergris Caye’s shoreline is bordered by the world’s second largest barrier reef, making the country popular as a diving and fishing destination. On the mainland you will find lush tropical rain forests and mountain ranges. You can have breakfast on the island, lunch in the jungle and be back at the beach in time for sunset.
Tourism and resident expat markets on Belize’s Ambergris Caye are set to continue to expand through 2021 and beyond. This Caribbean island is a top choice for a rental investment, making Belize one of the best places to buy real estate overseas.
On the Belize mainland, Cayo is a top option. Here quality rental accommodation at a reasonable price is hard to come by. If you were to build a high-quality rental, you could make a good yield by pricing your property competitively relative to the local hotels (that aren’t up to standard).
Belize has an active short-term rental market that can generate excellent yields on your investment property. One factor helping those yields is low property taxes and income taxes. Repeat visitors is another factor helping keep occupancy rates in normal times at strong levels.
Also, Belize banks grant financing to foreign investors, which is always a plus when investing in overseas properties.
7. Turkey
Turkey has the most affordable property in Europe right now—bargain prices compared to more well-known and visited destinations in the Mediterranean.
Turkey is investor-friendly, and with its affordable living, high-quality health care, favorable climate, beautiful landscapes, and rich culture, its appeal can’t be denied or ignored.
Investors who get in now are getting in on a rising tide. During 2022, house price growth was 57%, adjusted for inflation. Turkey is experiencing strong tourism growth, and the country is enjoying strong economic growth as the population increases and the middle class expands.
Turkish buyers are re-entering the market due to reduced interest rates. Both tourism rentals and student rentals are appealing rental investment options.
Also, Turkey is seen as an attractive destination for lifestyle and investment opportunities. Half of 2022’s property sales took place in the country’s most vibrant and historical city, Istanbul.
In addition to tourism growth, Istanbul and Turkey in general are enjoying strong economic growth as the population increases and the middle class expands.
One of the biggest selling points for an investment in Istanbul is the low cost of entry. A rental unit in this market is within most any investor’s budget.
