Short list of some hot international locations:
- Costa Rica
- Baja, Mexico
- Costa Rica
- Puglia, Italy
- Panama City, Panama
Inspired by Donald Trump’s TV show, The Apprentice, Chinese real estate mogul Top Real Estate Moguls Vincent H.S. Lo will be coming out with his own show called The Winner. Usually a low-key sector, the Chinese real estate market is apparently soaring alongside its economic boom, and now it’s becoming public knowledge. In fact, according to an article in Real Estate Journal, real estate in Shanghai might be even more costly than in New York City.
India’s economic boom is also creating many opportunities in the real estate arena, but many of those are getting gobbled up by real estate giants DFL. As the middle class steadily comprises a larger portion of India’s population, more houses, hotels, movie theaters, etc. will need to be constructed. But even so, there is plentiful and affordable land along the coastline of India, particularly in the Goa region, that attracts many retirees and vacationers. Opportunities abound in India, and while some fear that government restrictions might make it difficult to make a profit, others assure us that the situation isn’t really that bad and the tension will ease in the future. To learn more.
Brazil is another hotspot. According to Real Estate Brazil there are several types of properties available to get your feet wet Starting Out Small in the Brazilian market, ranging from boathouse apartments to bungalows to villas. The potential to tap into the market due to tourism alone is probably tempting enough since lots of people will need places to stay while on vacation or even homes to live in during cold winters.
But with all the international hotspots out there, you’ll need to be familiar with the appropriate country’s laws and regulations and their basic modes of operation, just as you would in your home country. Many times, you’ll need to deal with that country’s currency, and you may need to travel across international borders to find a certain bank that handles several currencies and is versed in many languages. The hiring of a lawyer Bring in Partners is also important to ensure that your purchase has been conducted legally and that you will be the legitimate owner. In other words, you’ll need the official deed with your name on it.
Also crucial is hiring a real estate broker. In Brazil, there is a problem with imposters posing as real estate agents, but the real deals must always carry a real estate broker ID card and show it to interested parties. A CRECI number which identifies a person as a professional is also required by law to be displayed in all advertisements. To learn more about hiring a real estate broker in Brazil, click here.
Another critical aspect is a country’s building standards. In Egypt, building standards are lower than we might be used to, which is reason enough to evoke concern. But here’s the real kicker: the country rests on several fault lines and has in the past endured earthquakes, tremors, and aftershocks. Yet developers in Egypt have gotten away with shoddy construction practices, ignoring earthquake proof building methods relating to foundations, cross basing, base isolation, etc. Now, as an investor you need to know if a property is safe and sturdy, especially if you wish to sell it to the next guy down the road. For this reason, you’ll need to hire a structural engineer. Read more here.
Before you invest in a property, though, you need to consider many factors that will determine what, where, how, and when you invest. As an article in www.internationalliving.com says, there are many questions you need ask yourself before you begin searching for foreign properties:
- Why are you investing? For example, is the property a second home so you can avoid a particularly cold winter? If so, will you rent it out when you’re not there? You may want to consider tourist hotspots, such as Brazil.
- What are your projected returns?
- What is your diversification strategy?
- How much is your down payment?
- Is financing even available in the country?
- How much money do you, and will you have in the future? (This might make or break investing opportunities in countries with high costs and taxes such as Greece.)
- How much time do you want to spend in the other country to manage the property?
Although high returns are enticing, the best place for you to invest is wherever your current situation in life (e.g. career, finances, family, health, etc.) fits into. Consider your personal interests and desires, and how exactly a potential area will fit into your life.
For the full article, click here.
The following two websites are valuable resources that explain just about anything you need to know about real estate investing in foreign countries. They’re comprehensive and up-to-date with their information.