There is a certain misbelief tied to investing in real estate property overseas, which states that it could turn out to be more costly than rewarding. Despite the pandemic and its consequences, investing in real estate is one of the safest wealth stores; the value grows over time, and the rental option brings additional income. The key to a good investment is recognizing the trendiest, up-and-coming country and pouring your resources into a fit property. The list below shows some unexpected but countries with plenty of potential for a hefty return on investment.
Promising Countries on Real Estate
The Republic of Turkey – a true gem of the east, with a central position and a flourishing economy, shows nothing but promise. It has become a country of prime interest among investors searching for property, homes, land, and other residential choices. Turkey represents a crossroads of different religions and cultures, acting as a bridge between Asia and Europe. The diversity offered by this country makes it a major tourist destination, gaining popularity by the year. Ever since the government enacted legislation, this move made it favorable for foreign investors to fly over and pick a property. But there’s more! All foreigners planning to invest in real estate properties can attain Turkish citizenship in a simplified process, making it even more appealing to investors.
People who invest in UAE receive lavish rewards. As a foreign investor, you are not obliged to pay taxes on deferred rent, given that income tax rules are not regulated. The rate of return in this tax-friendly country is 5.19 percent; these numbers are considered one of the best, meaning that every investor that puts money in UAE property will get the most out of their money. Dubai is an absolute favorite; Palm Jumeirah, Marina, Downtown, and International city are only some of the enticing investing areas, making UAE and Dubai prime locations for overseas property investments.
The Philippines are gaining popularity among investors by the year. Expats are a sizeable population in the Philippines region, which helps boost property value and guarantees excellent future prospects. If we know that more than 20 million Filipinos are looking for rental property, we can conclude that investors might help close the housing gap. Compared to other nations, the Philippines have a high return on investment, thanks to the reduced property taxes.
A desirable market, always coming up with new ideas, is the Colombian real estate market, which might surprise many. After a steady and consistent economic growth, the Colombian real estate sector has been funded heavily, with a doubled GDP over the past decade. Foreign investors are profiting from investing in Colombian property thanks to a solid rental yield of 6.51 percent.
International buyers are drawn to this country with low living standards and a thriving economy. Foreign investors can rest assured that their money will be secure if the banking system is solid. Investors can make profits from the tax system devised not to make foreign investors subject to taxation. Morocco has a rental income tax of 10.7 percent, which results in a rental yield of 5.52 percent.
Beautiful sceneries and a robust, booming economy make Indonesia a part of our up-and-coming foreign investment list. Given that the locals are more likely to rent a property, this makes the manufacturing sector especially lucrative. This densely populated area has steadily increasing and stable rental yields. Rental yields in the city center go as high as 8.61 percent, with a square foot being $1,200 per average. It might be challenging to purchase property in Indonesia, but investors can avert that by leasing agreements, which seems convenient for negotiating in the Indonesian real estate market.