Buying real estate has always been one of the safest and best ways to secure long-term profit. And buying real estate abroad gives you another level of security and diversification of your investments, even if the darkest predictions about the Russian economy come true.
Introducing top 10 countries in the world with the most affordable real estate... As an added benefit, some of the countries on the list are fast-growing real estate markets, which means that buying a home now can be a very profitable investment in the future.
We chose more or less prosperous countries with inexpensive housing. It is clear that in least developed states houses cost mere pennies, but going there for permanent residence is life-threatening.
10. Ecuador
The country can offer you a lot of undeveloped properties on the coast, for example in the city of Salinas. This is one of the most developed places in terms of infrastructure in Ecuador. The city is also convenient because it has its own airport.
Loja is your chance to live in the real Ecuador. Located high in the Andes, Loja is rarely visited by tourists and very few expats choose to live here. Home with four bedrooms in the exclusive Loja area will cost you approximately $ 115,000
Cuenca is another place with inexpensive real estate in Ecuador. It is a city of about 700,000 people located in the southern Andes. Much of the architecture in it belongs to the Spanish-colonial style, but despite the ancient look of the houses, Cuenca keeps up with the times and boasts fast internet and safe drinking water.
9. Thailand
One of the most popular tourist destinations in the world also renowned as a downshifting paradise. The wonderful climate, delicious food, polite locals, measured life - all this contributes to the popularity of Thailand as a place where you can and should buy real estate.
The disadvantage in Thailand is that there are restrictions on the ownership of detached real estate. Simply put, foreigners cannot own land, this is only allowed for citizens of the Kingdom or a Thai company. However, the land can be leased on a long-term basis (up to 30 years).
Foreigners are also allowed to purchase freehold apartments, but no more than 49% of the total area of the condominium. For this reason, the majority of foreign investors are concentrated in the condominium market.
The cost of such a condominium in Pattaya is about 1.3 million baht or 2.6 million rubles.
8. Brazil
If you like the idea of living on a tropical island, but frightens off the price, then pay attention to the Brazilian island of Itamaraca. It offers sandy beaches and clear turquoise waters. The island is about an hour's drive from the nearest airport, and the path to it lies through the jungle and mangrove swamps.
Coastal apartments are available from $ 50,000, while real estate in the heart of Itamaraki is even cheaper.
Another city in Brazil where you can buy coastal property for $ 50,000 is Vila Velha, also known as Little Rio.It is a beach town north of Rio de Janeiro, surrounded by rainforests and mountains with green peaks.
7. Colombia
Housing prices are high in Bogota and Cartagena, but inexpensive real estate can be easily found in other areas of Colombia. For example, in Cali, the third most populous city in the country, also known as the capital of salsa.
One of the reasons for the low cost of local housing is the city's undeserved reputation as a criminal. While some areas are indeed best avoided, most of the city is safe. In fact, Kali suffers from the same problems as many major cities in the countries of the world.
And the city of Santa Marta proves that Colombia can offer profitable real estate even on the Caribbean coast. While most tourists go to Cartagena, Santa Marta is a short route along the coast offering everything Cartagena has to offer, but at a much lower cost.
6. Mexico
This country is ideal for those who love fresh air and breathtaking mountain views.
One of the cities with the cheapest real estate in Mexico is Alamos, which dates back to the late 17th century. It is located in the foothills of the Western Sierra Madre and has retained much of its ancient charm, including stately mansions and cobblestone streets. Homes here sell for only $ 35,000.
Jalapa Henriques is another city where you can buy property for less than $ 40,000. This small town in the state of Veracruz has earned the nickname "the flower garden of Mexico" for the large number of flowers grown. The main article of the local economy is tourist services. Therefore, there are many great restaurants and shops here.
5. Dominican Republic
Currently, the country is experiencing a period of growth and foreign investors are actively investing in it. And tourism figures continue to be impressive as well. In 2017, the Dominican Republic saw over 6.2 million tourists, up 3.9% from 5.9 million in 2016.
This means that buying a home and then renting it out to tourists can be a very profitable investment. Property prices in the Dominican Republic are relatively low. For 50 thousand dollars in popular resorts (Sosua, Cabarete or Bavaro), you can find a small apartment located 5-10 minutes from the beach. The law allows foreign buyers to purchase any real estate in the country, including land.
4. Italy
Italy may seem like an odd choice for this selection, but outside of the major cities, cheap real estate is plentiful.
The mayor of the town of Ollolay on the island of Sardinia offers 200 houses for prices starting at 1 euro. The reason for this tempting deal is that the young people have left the city in search of work, and without the influx of new people, Ollolai will die.
There is, of course, a catch: buyers have to rebuild their homes for at least $ 25,000. This investment must be made within three years, and the houses cannot be sold within five years.
The next region of Italy, leading in the number of cheap real estate, is Abruzzo. This area, located east of Rome on the Adriatic coast, is one of the greenest places in the country. It contains everything that you would expect from Italy: delicious food and wine, hot summers and ancient architecture. But Abruzzo has other delights, such as the snowy mountains where you can ski in winter.
If you want to live a quiet life in a remote village, you can find homes for under $ 50,000.
3. Montenegro
Now that Montenegro is on its way to EU membership and a growing status in the world arena, local real estate has skyrocketed in value. Despite this, Montenegro is still in the top ten countries with the most inexpensive real estate in the world.
A three-room apartment in the suburbs of the resort town of Budva can be bought for 60 thousand dollars. A simpler apartment will cost 20 thousand dollars.
The country has low taxes, and immigrants receive a social package, which includes such services as the right to free medical care, attendance at school and kindergarten for children.
2. Greece
Ignoring debt problems and the country's proximity to defaultGreece is still the place where many of us want to enjoy life and make the most of the country's growing tourist income by renting out properties.
One of the places to buy Greek property is Crete, mainly due to the large number of available properties compared to other smaller islands, the greater availability of flights and the developed infrastructure. Two-room apartments can be purchased for 45-50 thousand dollars.
1. Paraguay
This exotic country is not very popular with tourists. It is landlocked, but has beautiful colonial architecture, the largest dam in the world and unique nature - from arid regions to lush tropical vegetation and beautiful waterfalls. For its low population, Paraguay is called "the empty corner of South America."
The average price per square meter of an apartment located in the capital of the country - Asuncion - is 250-300 dollars. Ideal for those looking to live a quiet life perfecting their Spanish while drinking local rum or chacha made from sugarcane and honey.