Buying an Apartment Abroad: Reasons and Advantages
Apartments abroad are a profitable acquisition that opens up new opportunities for their owners. Why do people buy apartments in other countries?
The simplest reason is to spend vacations and holidays at a favorite resort without wasting time and money searching for suitable rental housing. Additionally, owning an apartment somewhere on the coast of Spain or Thailand can be an excellent option for new retirees: spending quality time in a warm climate, enjoying sea views from the window, and savoring delicious fruits brings unmatched comfort.
There is also a pragmatic reason for buying apartments abroad — the potential for earning through property investments or short-term rentals. In the aforementioned countries, the real estate market demonstrates stable growth, making such purchases a highly liquid investment.
Purchasing apartments for short-term rental purposes is an excellent way to create a passive income source without much hassle. Many resorts have entire residential complexes managed by well-known hotel chains, allowing you to buy an apartment and transfer its management to a company while receiving stable income.
Apartments abroad are also purchased for permanent residence. In this case, the criteria for selecting housing differ slightly — it is important to assess the availability of necessary infrastructure, transportation links, neighborhood safety, and other comfort factors.
Choosing Apartments Abroad: Which Country to Prefer?
Before buying an apartment abroad, you need to choose the right country. We focus on resort destinations with a comfortable climate. In terms of distance, Turkey is the closest, followed by Georgia, Cyprus, and Spain. Asian countries require a flight of at least 8–10 hours. However, in today’s world, distance is not a problem, just an additional transportation expense.
The main factor when buying property abroad is personal comfort in the country. Some people, after visiting Spain, can’t imagine their vacation elsewhere. For others, Thailand or Bali is heaven on Earth — a place to spend their life. Some adore Georgia or sunny Cyprus. Each of these countries has its strengths and weaknesses, but personal comfort is the determining factor.
If apartments are purchased as an investment, the selection criteria change. First and foremost, you should analyze real estate market indicators and its trends for the coming years. Also, consider the available budget and price levels in each country. The peculiarities of legislation and taxation systems are also crucial, as property tax rates vary significantly from country to country and will directly impact profitability.
When purchasing an apartment for permanent residence, you should consider migration laws. Some countries offer residency permits or citizenship when purchasing real estate, but they often impose a minimum price threshold or specific investment conditions.
What You Need to Know to Buy an Apartment Abroad
Buying an apartment abroad is not an easy task. National real estate legislation varies from country to country, and these nuances must be understood and considered. The UAE and Spain offer the most favorable conditions where foreigners can easily buy apartments and other properties, including land plots. However, in Spain, both spouses must sign the purchase agreement if the buyer is married; otherwise, the transaction can be easily annulled.
Therefore, if you want an apartment abroad, it’s better to buy it with the help of Deniz Estate. The agency specializes in working with foreign buyers, has representative offices in many countries, and can offer suitable apartment options in each of them.
Experienced professionals understand the nuances of local legislation, know the real estate market situation, and can recommend suitable apartments depending on the purpose of the purchase. The agency works directly with leading developers and offers exclusive purchase conditions.
Prices for Apartments Abroad
Apartment prices abroad depend on many factors, but in most countries, they are quite affordable. For example:
- In Turkey, you can buy an apartment in a new residential complex near the sea for 50–60 thousand dollars.
- In Georgia, apartments can be purchased for even lower prices.
- In Spain, Cyprus, and the UAE, apartment prices vary significantly depending on the resort area, building age, proximity to the sea, infrastructure, and neighborhood safety.
However, in each of these countries, it’s possible to find both budget-friendly options and luxury properties. An experienced real estate agent will select suitable apartments and organize viewings either online or in person.
If you dream of owning a cozy apartment on the Mediterranean coast or in an exotic Asian resort, the professionals at Deniz Estate will help turn your dream into reality. They will guide you through the entire process, ensuring a safe and profitable investment in foreign real estate.