In recent years, a stereotypical view has formed that rich Russians, indiscriminately buying up elite real estate on the Côte d'Azur or on the Costa del Sol coast in Spain, are driving sharp price increases. Indeed, Russians with their demand for elite housing are somewhat reviving price growth, but it reaches at most 10% per year. At the same time, on average, the cost of real estate in Western Europe has been increasing steadily, that is, slowly but surely, by 5-7% annually for the past 40 years. This is for those who favor long-term investments, a modest but stable return, and who are in no hurry to sell newly acquired housing.
To get rich quickly, you should turn your gaze to the West Coast of the United States, or more precisely, to Florida, where Russian stars Natasha Koroleva, Kristina Orbakaite and others have already settled. Judging by price growth on the elite housing market, an apartment in Miami with an area of 100 sq. m could be bought back in June last year for $800,000. Now its price has increased by 37.5%. A rare instrument can provide such a high return. And apartments in houses on the southwestern coast of the United States continue to sell like hot cakes among wealthy Russians. This is indeed stimulating price growth for square meters here.
Those who love the spicy East and are ready for quick and more substantial profits will have to head across the Atlantic. Head southeast, to the UAE. You can try to "make" 100% per annum on real estate in Dubai. But for this you will have to bustle about. One thing holds you back: we are talking about luxury housing at the initial stage of construction. A square meter in a prestigious building (the building itself is still in the design stage) on the shore of the bay costs on average $2,000-3,500. Moreover, an apartment in an unfinished building can be bought in installments and resold before the first payment is due. It is believed that this way you can earn up to 100%. And if you don't rush and buy property with the intention of living there for a while, then in this case the cost of the apartment will increase by 30-50%.
Another option is real estate in Thailand. Here our compatriots mostly vacation, but few decide to purchase property. And that's a shame - villas and houses on the island of Phuket are three times cheaper than real estate of a similar class on the Côte d'Azur. The cost of 1 sq. m here reaches an average of $2,000. The opportunity to become a homeowner will cost $250,000. And in Pattaya it's even cheaper - $150,000.
You should not neglect real estate in another resort popular with our compatriots - Egypt. Here everything is cheap and cheerful. And the profitability is quite high. You can buy an apartment and rent it out long-term to foreigners who work in large numbers in the land of the pharaohs. And receive an annual income of 16%.
If long flights and changing many time zones are not in your plans, don't overlook the countries of Eastern Europe that have just joined the European Union or will do so soon. Market experts believe that with EU membership, prices in these countries will jump sharply, by about 30%. Montenegro and Croatia are a very promising option. Sea, mountains, inexpensive square meters, and Western Europe nearby. For example: a square meter of apartments with a sea view in Croatia costs from $1,200 to $1,500. A specific option: an apartment with a total area of 38 sq. m with a sea view from the window costs €50,000. And after joining the EU, it will become 30% more expensive.
Briefly, it is also worth paying attention to inexpensive real estate in Costa Rica, where Americans are investing huge amounts of money and promising a good return. Bulgaria will soon join the EU, and in the meantime prices there are simply ridiculous. Again, real estate in Georgia is considered by Russian realtors to be a very good investment tool (in the near future, of course). So it's time to expand your geographical horizons for investment.
However, it is also necessary to take into account the specifics of buying real estate abroad. There is a list of countries where buying property for a foreigner is almost impossible. For example, to buy an apartment in Austria, you need to live in that country for three years.
The situation is completely opposite in Andorra, where buying real estate is quite easy. Moreover, owning an apartment gives the right to obtain a residence permit. However, owning property in Italy or England is not at all a basis for obtaining a residence permit. You will also need to establish a real business.
Real estate in Belgium, purchased on credit, is immediately registered in the name of the buyer, who immediately becomes its official owner. You can live in it, rent it out, or sell it. And to buy property in Luxembourg and Switzerland, you need to register it in the name of a legal entity. A business in these countries can be purely nominal.
In most cases, potential buyers of real estate in the UAE will have to deal directly with sales department staff of the developer company. When paying the full amount, the investor is not insured against possible insolvency of that company. Construction may even be left unfinished.
If you decide to buy real estate in the United States but lack most of the amount, don't despair. Americans can give you a loan after, of course, checking your credit history or documents that confirm your financial solvency.