We all know it, and it’s in every real estate news in the U.S. Home prices are rising, and they will continue to rise into the unforeseeable future. This doesn’t look good for many home buyers or investors looking to invest in some properties this year. This is why overseas real estate investments are becoming a trend.
There are now many countries that are selling affordable properties. As a result, these countries are ripe for real estate investments. Here are some of the top countries selling some of the most affordable properties in the world:
Bolivia
If you aren’t aware, Bolivia is located in central South America. This country is unknown to most Americans since it isn’t a prime tourist destination when visiting the continent, but it’s one of the richest countries within the area and one of the vital investment hubs worldwide.
For starters, Bolivia is home to one of the world’s fast-depleting resources, Lithium. Almost every country is fighting for a piece of the lithium-rich lands of the Andes known to the locals as the Salar de Uyuni. Bolivia is also fighting to keep these lands for the Bolivians. However, it brings good business to the country. The economy is fueled by this finite resource alongside many booming industries.
Because of this, Bolivia is one of the wealthiest countries on the continent, with Santa Cruz City taking a good chunk percentage of its GDP. So if you want to invest in a prime house and land package that’s ready for tenants, then this investing in a property in Santa Cruz is one of the best decisions you’ll ever make.
The properties within that area cost between $35,000 to $50,000, making them one of the cheapest and most affordable properties for Americans to purchase. Moreover, because of the country’s booming economy, more and more employees are looking for places to stay. So you’ll undoubtedly make your money back in no time by investing in a property within Bolivia.
Peru
Peru is another country in South America that’s becoming an excellent investment for many realtors. The country has been receiving a boom in its economy in the past year, with thousands of investors worldwide investing good money into its infrastructure.
The country has been widely known to have an affluent and impoverished population, which can look bad for many investors. However, it has been recovering since then because of the government’s initiatives to make it a better place. One of these initiatives is to let more Peruvians start their businesses so foreigners can invest more into the country.
The country has been receiving a boom in properties during the past few years, and real estate prices might not be as low as Bolivia, but they are still considered affordable compared to today’s modern standards if you know where to look. Peruvian properties can cost upwards of $500,000, but certain cities have cheaper properties than others.
One of the most attractive cities to purchase properties in is Arequipa. Arequipa is a beautiful city that’s filled with history. Moreover, properties here can cost between $80,000 to $100,000. Not as cheap as Bolivia, but it’s cheaper than properties in the US. It’s also considered one of the top destinations to visit for foreigners in the country, making it an excellent destination for Airbnb and other rentals.
Peru is a safe and affordable choice to cater to tourists. But if you want to purchase a property for yourself or your family, then you’ll be surprised to see the next country on this list.
Italy
Italy’s property costs have decreased since the pandemic hit the country. It’s surprising to think that such news exists, considering that Italy is one of the most beautiful countries in the world. Because of this, many people expect that the country will have some of the most expensive properties in the world. To a certain degree, this idea is proven true in some cities. For example, Milan has some of the most expensive properties in the world, alongside cities like Bolzano and Arezzo.
However, for some cities that don’t have a big population and are filled with dilapidated homes and properties (also known as sleeping cities), properties can cost as low as $9,000. You’ve read that right. You can purchase a home in Italy for as low as $9,000, making it one of the cheapest properties in the world. But don’t expect these homes to come as luxurious as possible.
These homes and properties do require an extensive amount of renovations, but that’s why these cities are selling these properties for such a low price in the first place. These cities want these properties to be renovated and inhabited by foreigners, so they can drive the real estate industry. It’s a simple strategy, but one that works well. So if you’ve wanted to own a home in Italy, you can do so now during the pandemic.
These are three of the best countries to visit if you’re looking for affordable properties to invest in. You can rent these properties you’ve purchased or flip the property and sell them at a higher price in the future.
