Real estate deals in foreign countries can be problematic when you have different property laws to follow and with the recent economic downturn it may be harder to seek financing. Whether you have your eye on that beachfront home in the Bahamas or investment land in Brazil there are some countries that are good for investing when it comes to owning land. Try three of these markets for which you can find some pretty sweet deals for real estate.
Some general tips would be to first find a lawyer or expert in buying property in foreign countries. It will drive your costs up a bit but you want to make sure your investment in sound. Thoroughly research viable companies who can help you with the sale because there are rip off artists and scams who will try to take advantage of your situation. Another tip is to look into the socio-political climate of the country in which you will be investing. If there have been several upheavals in government or instability then you may want to try something different.
Start with a resource such as the International Real Estate Digest for independent realtors overseas. Many countries are helped by having advantageous exchange rates and property laws that may make a deal for finding a property to be much better than in the United States.
Dominican Republic
The Dominican Republic in the Caribbean is one of the more stable places to live. Coastal areas enjoy warm and balmy weather year round and there are many tropical crops grown on the island that Christopher Columbus first visited.
It’s so easy to invest in real estate in the Dominican Republic that there are RE/MAX brokers all over the island. Whether you want a beach house to which you can retire or land to develop into a farm you can find all kinds of options for your money.
Costa Rica
Costa Rica is always on the list as one of the best places for people to retire. Relatively close to the United States, Costa Rica is a tropical paradise that touches two oceans with one of the world’s most pristine tropical rain forests.
Again, there are real estate agents all around the Spanish-speaking republic that can help you find what you want. Costa Rica is great for retirees who love golf, want to be near the water, or simply want to be warm year-round.
Philippines
The Philippines are a large chain of islands in the Pacific that have had relative peace and calm for many years. Many small islands and coves exist all over the Philippines that make ideal spots for retirement homes, investment properties, or vacation spots.
Much like Costa Rica and the Dominican Republic, you can invest in property that will become a vacation area, crop land, or just a home for you to have. Look at some of these properties in the Philippines.
No matter what use you have for your property, land values can be cheaper in a foreign country as compared to the United States. Investing in overseas land can be a wise use of your money if you have extra cash in which you can earn some interest.