In a world where real estate investments are becoming not only a way to preserve capital but also an opportunity to improve the quality of life, choosing the right country to buy real estate in 2024 is especially important. The real estate market continues to change, adapting to new economic realities, and now more than ever it is important to be aware of current trends. The choice of country can affect not only your financial results, but also your future – from the standard of living to cultural characteristics.
In this article, we will present you with the top 5 countries to buy property in 2024 based on key criteria such as economic stability, standard of living, taxes, and attractiveness to foreign investors. If you are thinking about buying property abroad, this information will be your guide to the world of international investment.
- Economic stability
- Standard of living
- Taxes and legislation
- Infrastructure and accessibility
- Attractiveness for foreign investors
Country selection criteria
When it comes to buying property abroad, it is important to consider a few key criteria that will help you make an informed choice. Let’s take a closer look at them. Economic stability is the first and perhaps most important factor. Investing in a country with a stable economy ensures that your investment will not lose value.
For example, countries with a high credit rating and low inflation create a safer environment for investment. Standard of living also plays an important role. You don’t just want to buy an apartment or a house, but to create comfortable living conditions. Assess how developed the infrastructure is, what services are available, and what the living conditions are in general.
For example, in Spain and Portugal the standard of living is high, and this attracts many foreigners who want to enjoy the sun and the sea. Taxes and legislation are another aspect that cannot be ignored. Different countries have different tax regimes for foreign investors.
For example, Cyprus and Turkey have attractive tax conditions that can significantly reduce your costs. It is also important to understand the legal aspects of buying real estate: what documents are required, what taxes must be paid and what is the procedure for completing the transaction.
Infrastructure and accessibility are not only about roads and transport, but also about how easy it is to get to the places you need. For example, if you plan to rent out your property, it is important that it is located in tourist-attractive places with good transport accessibility. Spain, with its developed tourist infrastructure, is becoming an excellent option for such investments.
Attractiveness to foreign investors is the last but not the least important criterion. Some countries offer “golden visa” programs that allow investors to obtain a residence permit in exchange for purchasing real estate. For example, Spain and Portugal have such programs, and this significantly increases interest in the real estate market. Now that we have covered the key selection criteria, let’s move on to specific countries that could be great investment options in 2024.
Country #1: Spain
General description of Spain
Spain is not just a country with great beaches and a rich history. It is a place where culture and tradition intertwine with modern trends.
Climate : Spain is famous for its mild climate, which varies from Mediterranean on the coast to continental inland. Sunny days and warm winters make it ideal for living and relaxing all year round.
Cultural diversity : Each region of Spain has its own unique traditions and festivals. For example, Andalusia hosts vibrant flamenco shows, while in Catalonia you can enjoy the tradition of “Castells” – the construction of human towers.
Gastronomy : Spanish cuisine is a real treat for gourmets. Paia, tapas and jamon are just some of the dishes worth trying. Each region offers its own gastronomic delights, making the country a true paradise for food lovers.
Architecture and Art : Spain is known for its architectural masterpieces, such as the Sagrada Familia in Barcelona and the Alhambra in Granada. Museums such as the Prado in Madrid and the Guggenheim in Bilbao house works by great masters such as Goya and Picasso.
Infrastructure and accessibility : Spain has a well-developed infrastructure, including modern roads, high-speed trains and convenient international airports. This makes traveling around the country easy and comfortable.
Investment attractiveness : Spain attracts not only tourists, but also investors from all over the world. The Golden Visa program allows foreigners to obtain a residence permit when purchasing real estate worth at least 500,000 euros. This makes the country one of the most popular destinations for buying real estate.
Advantages of Buying Property in Spain
When I first visited Spain, I was struck by how affordable the property prices were. Unlike many other European countries, there are great options for both living and renting. Let’s take a closer look at why buying property in Spain is not only a smart decision, but also a good one.
Affordable housing prices: Spain offers a wide range of affordable properties. For example, in Valencia, you can buy a two-bedroom apartment for just €150,000. This is significantly lower than in countries like France or Italy, where similar apartments can cost two to three times more.
High rental demand: Rental demand in Spain, especially during the summer season, is off the charts. Tourists from all over the world are eager to enjoy the sunny beaches, rich culture and gastronomy. This creates excellent opportunities for property owners who want to rent out their apartments or houses. For example, in Barcelona and Madrid, rental income can reach 8-10% per annum, making real estate investments particularly attractive.
Golden Visa Program: Spain offers a Golden Visa program that allows foreign investors to obtain a residence permit by purchasing real estate worth at least €500,000. Not only does this simplify the visa process, but it also gives you access to the European market, which can be especially important for those planning to do business or travel to Europe.
Country #2: Cyprus
General description of Cyprus
Cyprus is an island where Eastern and Western cultures meet. With its stunning beaches, historical monuments and warm climate, Cyprus is becoming increasingly attractive to foreign investors. The country offers not only beautiful nature but also a stable economy, making it an ideal place to buy real estate.
Climate and Nature Cyprus pleases its residents and tourists with a mild Mediterranean climate, with hot summers and mild winters. This makes it an ideal place for year-round living and recreation. The island is famous for its picturesque beaches, crystal clear waters and diverse natural landscapes – from mountain ranges to green valleys.
Culture and History Cyprus has a rich history dating back thousands of years. There are many historical monuments such as ancient temples, Byzantine churches and castles that attract tourists from all over the world. The local culture combines elements of Greek and Turkish traditions, creating a unique atmosphere.
Economic Stability Cyprus has a stable economy with developed sectors such as tourism, finance and real estate. After the economic crisis of 2013, the country has successfully recovered its position, which makes it attractive to foreign investors. The unemployment rate remains low and the GDP shows positive dynamics.
Infrastructure Cyprus offers a modern infrastructure, including quality roads, international airports and a well-developed public transport system. This makes it easy to move around the island and makes it accessible to tourists and locals. Large cities such as Nicosia , Limassol and Larnaca have all the necessary amenities: shops, restaurants, medical facilities and educational institutions.
Attractiveness for foreign investors Cyprus offers a number of programs that make it particularly attractive to foreign investors. For example, the Golden Visa program allows you to obtain a residence permit with the purchase of real estate worth at least €300,000. This opens the door for those who want to not only invest, but also live on this beautiful island.
Benefits of Buying Property in Cyprus
Cyprus is not only a beautiful island with stunning beaches and a rich history, but also a country with many favorable conditions for real estate investors. Let’s take a closer look at why buying property in Cyprus can be a great choice.
Low Taxes: One of the main advantages of buying property in Cyprus is the low tax rates. For example, the property transfer tax is only 3-8% depending on the value of the property, which is significantly lower than in most European countries. This allows you to reduce your initial costs and make the investment more profitable.
Affordable Property Prices: Cyprus offers a wide range of affordable property options. You can find a cozy apartment in Limassol for as little as €200,000. This is a great opportunity for those looking for quality housing without breaking the bank. While other popular tourist destinations such as Spain or Italy may have significantly higher property prices, Cyprus remains an affordable option for investors.
Citizenship by Investment Program: Cyprus offers attractive citizenship by investment programs. By purchasing real estate worth at least €2 million, you can obtain Cypriot citizenship, which opens the door to visa-free travel throughout the EU. This program is becoming increasingly popular among investors looking to improve their quality of life and provide their children with a future in Europe.
Country #3: UAE
General description of the UAE
The United Arab Emirates (UAE) is a country where luxury and modernity merge with tradition. Dubai and Abu Dhabi attract investors from all over the world thanks to their ambitious projects, high standard of living and tax-free economy. I remember the first time I came to Dubai – it was like diving into the future, where skyscrapers reach for the clouds and incredible architectural solutions are found at every step.
The climate and nature of the UAE are tropical, with hot and dry summers and mild and pleasant winters. The average temperature in summer reaches 40°C, while in winter it ranges from 15°C to 25°C. This makes the country an ideal place for those who want to enjoy sunny days and a warm sea. The beaches of Dubai and Abu Dhabi are famous for their cleanliness and beauty, and a variety of resorts offer a wide range of services for recreation.
Culture and Traditions Despite its modernity, the UAE retains a rich cultural heritage. Traditional markets (souks), historic mosques and cultural centers such as Sharjah and Abu Dhabi reflect the unique Arab culture. Locals are proud of their traditions, and tourists can enjoy local cuisine, art and music.
Economy and Business The UAE economy is based on oil resources, but in recent decades the country has been actively diversifying its sources of income. Dubai has become a global center for trade, tourism and finance, providing many opportunities for business. The tax-free economy attracts entrepreneurs and investors who are looking for favorable conditions for doing business.
Infrastructure The UAE’s infrastructure is top-notch. A well-developed road network, public transport, including metro and buses, and international airports such as Dubai and Abu Dhabi provide convenient connections both within the country and abroad. Dubai is home to the largest shopping malls, hotels and entertainment complexes, making it one of the most visited cities in the world.
Education and Healthcare The UAE offers high-quality education and healthcare services. The country has many international schools and universities, as well as modern hospitals and clinics that meet international standards. This makes the UAE attractive to families looking for comfortable living conditions and education for their children.
Country #4: Türkiye
General description of Turkey
Turkey is a country where oriental exoticism meets European comfort. With its unique culture, rich history and stunning natural landscapes, Turkey is becoming increasingly popular among foreign investors. Istanbul, Antalya and Bodrum are just some of the places that attract the attention of real estate buyers. Each of these cities offers its own unique advantages and atmosphere, making them ideal for living or vacationing.
Climate and Nature Turkey has a varied climate: on the Mediterranean coast it is Mediterranean, with hot summers and mild winters, while the inland regions boast a continental climate. Summer temperatures on the coast reach 30-35°C, and in winter in some places they can drop to 0°C. This makes Turkey attractive to those who want to enjoy the sun and sea for most of the year. The beaches of Antalya and Bodrum are famous for their cleanliness and picturesque views, and various nature parks and reserves offer many opportunities for active recreation.
Culture and Traditions Turkey is a country where ancient traditions meet modernity. Istanbul, as a cultural capital, offers many historical monuments such as the Hagia Sophia and the Blue Mosque. Locals are proud of their cultural heritage, and tourists can enjoy the local cuisine, which includes dishes such as kebabs, meze, and baklava. I remember the first time I tried real Turkish cuisine in a small cafe in Istanbul – it was unforgettable!
Economy and Business The Turkish economy is diverse and actively developing. The country is becoming increasingly attractive to foreign investors due to its competitive real estate prices and growing market. Turkey is actively developing tourism, which is one of the main sources of income. In recent years, the government has been implementing various programs aimed at supporting business and foreign investment, making the country even more attractive to entrepreneurs.
Infrastructure Turkey’s infrastructure continues to develop, and this is evident in major cities such as Istanbul and Antalya. Modern roads, airports, and public transportation provide convenient connections within and outside the country. Istanbul is home to one of the world’s largest airports, which connects Turkey to many international destinations. In addition, the cities are home to large shopping malls and entertainment complexes, making them attractive places to live and relax.
Education and Healthcare Turkey offers a variety of educational and health care opportunities. The country has many international schools and universities that offer quality education. In addition, medical institutions meet international standards, and many of them offer services in English. This makes Turkey attractive to families looking for comfortable living conditions and education for their children.
Benefits of Buying Property in Turkey
When I first visited Turkey, I was amazed by the affordable prices for real estate. For example, in Antalya you can find modern two-bedroom apartments for only 80,000 euros! This is simply incredible, considering that in other European countries such prices may seem fantastic. Let’s take a closer look at the main advantages of buying real estate in Turkey.
Affordable housing prices: Turkey offers some of the most competitive prices in the real estate market. Compared to other popular tourist destinations such as Spain or Italy, the cost of apartments and houses in Turkey is significantly lower. This makes the country attractive to investors who want to get quality housing without spending too much. For example, in cities such as Bodrum or Fethiye, you can find great options starting from 100,000 euros.
Citizenship Opportunity: Turkey offers a unique opportunity to obtain citizenship by purchasing real estate worth $400,000 or more. This opens the door for those who dream of living in this amazing country. Citizenship gives the right to visa-free entry to more than 100 countries, as well as the opportunity to enjoy all the rights and privileges of a citizen. This is especially interesting for those who want to start a family or open a business in Turkey.
High rental potential: Turkey is a popular tourist destination, and the demand for rental housing is constantly growing here. During the summer season, many foreigners are looking for apartments and villas for vacations, which creates excellent opportunities for obtaining a stable rental income. For example, in Antalya and Istanbul, rental income can reach 8-10% per annum. This makes real estate investments not only profitable, but also promising.
Developing infrastructure: Turkey is actively developing its infrastructure, which makes it even more attractive to foreign investors. New roads, airports and shopping centers are appearing all over the country, which improves the quality of life and increases the value of real estate. For example, in recent years, a new airport was built in Antalya, which has become one of the most modern in the region and has significantly increased the flow of tourists.
Simplicity of the buying process: The process of buying real estate in Turkey is quite transparent and understandable. Foreigners can buy real estate without any special restrictions, which makes the country especially attractive for investors. You will not need complex bureaucracy, and all stages of the transaction can be completed with the help of professional agents and lawyers.
Country #5: Thailand
General description
Thailand is a true gem of Southeast Asia, where tropical beaches, vibrant culture and friendly people create a unique atmosphere. Pattaya, Phuket and Chiang Mai are just some of the places that attract the attention of both tourists and investors. Every corner of the country offers its own charms: from picturesque beaches to historical temples. Thailand is becoming an increasingly popular destination for buying real estate, and for good reason.
Thailand is a true gem of Southeast Asia, where tropical beaches, vibrant culture and friendly people create a unique atmosphere. Pattaya, Phuket and Chiang Mai are just some of the places that attract the attention of both tourists and investors. Every corner of the country offers its own charms: from picturesque beaches to historical temples. Thailand is becoming an increasingly popular destination for buying real estate, and for good reason.
Climate and Nature The climate in Thailand is tropical, with three main seasons: hot, rainy and cool. The hot season lasts from March to May, when temperatures can reach 35-40°C. The rainy season, from June to October, brings refreshing rains, and the cool season, from November to February, is characterized by comfortable temperatures from 20°C to 30°C. The nature of Thailand amazes with its diversity: from snow-white beaches on the islands to picturesque mountains and green jungles.
Culture and Traditions Thailand is known for its rich culture and traditions. Locals are proud of their heritage, and this is reflected in their architecture, cuisine, and celebrations. Temples such as Wat Pho and Wat Arun in Bangkok are shining examples of Thai architecture and spirituality. The local cuisine, known for its vibrant flavors and aromas, attracts foodies from all over the world. Street food in Thailand is a culinary experience in itself that is worth trying.
Economy and Business Thailand’s economy is based on agriculture, tourism, and industry. The country is actively developing the service sector, making it attractive to foreign investors. Tourism is one of the main sources of income, and in 2019, Thailand was visited by more than 39 million tourists. This creates many business opportunities, especially in the hotel and restaurant industry.
Infrastructure Thailand’s infrastructure is constantly improving. The road network is well developed, public transport, including the Bangkok metro and bus routes, provides convenient communication within the country. International airports such as Suvarnabhumi and Don Muang connect Thailand with other countries, making it accessible for tourists and businessmen. Large cities have shopping malls, markets and entertainment complexes, making life comfortable and diverse.
Education and Healthcare Thailand offers a variety of educational opportunities, including international schools and universities with programs taught in English. The country’s healthcare system is highly developed, with many modern hospitals and clinics that meet international standards. This makes Thailand attractive to families looking for comfortable living conditions and education for their children.
Benefits of Buying Property in Thailand
Buying property in Thailand opens up a lot of opportunities for foreign investors, and here are some key reasons why it is worth considering:
Affordable Housing Prices
Property prices in Thailand remain quite affordable, especially when compared to other holiday destinations. In Pattaya, for example, you can find modern one-bedroom apartments for as little as $60,000. This makes Thailand attractive to those looking to invest in property without spending a fortune. Other popular tourist destinations, such as Phuket and Chiang Mai, also offer great deals.
High Rental Income Potential
Thailand is a popular tourist destination, and demand for rental housing during the tourist season is consistently high. Investors can expect good rental income, especially in resort areas. For example, apartments in Pattaya can bring in 6% to 10% per annum on investment, which is quite attractive.
Variety of Real Estate
Thailand offers a wide range of real estate options, from modern condominiums and luxury villas to cozy houses and plots of land. This allows every investor to find a suitable option that suits their budget and preferences. Depending on your goals, you can choose a home for personal use or for rent.
Overall, buying property in Thailand is not only a profitable investment, but also an opportunity to enjoy life in one of the most beautiful countries in the world. If you dream of your own corner by the sea and want to receive a stable income from rent, Thailand is the perfect choice!
Also Read: Pros and Cons of Renting vs. Owning a Home
