The world’s economy is globalizing. Between the internet, more affordable flights, and a growing understanding of different cultures, people are becoming more interested in the world outside of the United States. Furthermore, the investment opportunities in property are changing.
A lot of places in America are very expensive and others don’t have much promise for a large return on the investment at a reasonable rate. Depending on the destination, there is also an opportunity to cash in on the growing vacation rental business. These are the five best destinations for buying property as an investment and starting a vacation rental business.
Mexico
When it comes to buying property in Mexico, in many ways you have the best of both worlds. You have the affordability of Mexican currency and its economy while also being able to buy property in beautiful places. There are a lot of places in Mexico that are great for vacations. Whether you are buying a beautiful home in Mexico City or invest in a property on the beach in Cancun, Mexico provides options.
When you buy real estate in Mexico, you can fix it up and sell it for a profit or choose to open the home as a vacation rental. When you are working with a currency and economy that’s in your favor, you can make a decent amount of money while enjoying the process.
The Bahamas
When you hear the Bahamas, what do you think of? You probably think about sunshine, beaches, and tropical fruit. It’s a top-tier vacation destination, but there is also some affordable property in the country too. Whether you want to buy a beautiful beachfront home you live in while you fix it up or buy something ready to be rented out, the Bahamas real estate companies can help you find the right place.
This country is an incredible chain of islands where you can enjoy both the process of real estate and the beauty of the area surrounding you. The Bahamas is a great place to invest in vacation properties, whether you want to sell the home quickly or open it up to travelers.
Portugal
With not as much acclaim or prestige as Italy, Spain, or France, Portugal is every bit as romantic. It has great food, amazing wine, heartfelt people, and incredible scenery. Portugal is a vacation destination that few places rival, but it doesn’t come with the cost that other European countries have.
It’s curious. Portugal has as rich of a history as the more visited countries, but it doesn’t get the praise. This makes property prices more affordable and, for people who know, it is a perfect vacation destination. You can buy a fancy condo in Lisbon or a waterfront property in Oporto. The ability to make money in Portugal with wholesale real estate, vacation rentals, or fixing up a place continues to grow.
Argentina
Between Buenos Aires, the wine region of Mendoza, and Patagonia, Argentina is an incredible country. There are many places where you can invest in property or rent one out. Whether you are investing in a modern home in Buenos Aires or buying some land in wine country, there are plenty of wealthy Argentines and expats who want great properties in Argentina.
It is a country with a larger economy than any other South American state besides Brazil. It will continue to grow. Whether you want to buy a home in Mendoza for wealthy wine tourists or rent out a Patagonian estate to rugged travelers, there are plenty of ways to make money by investing in real estate in Argentina.
These five destinations are some of the best in the world, but depending on your financial and personal situation there are other places that can satisfy your business and travel endeavors. When you invest in property abroad, you can fix it up, rent it out, and sell it for more when the market is right.
Beyond the United States, there are plenty of destinations that have economies that are growing fast and tourism sectors that are enticing. Whatever your goal, going abroad to buy property can help you make money and enjoy something new in life. When you’re thinking about ways to utilize your wealth, why not look into buying real estate abroad?
