Property investment will always have it’s value and thanks to globalisation, basically anyone, with the funds available, can invest in property in any country around the world. It has opened up opportunities for Scandinavian pensioners to invest in vacation homes in Spain and Portugal, creating a heated debate locally of where the new pensioners spend their money. But the pensioners are happy, enjoying the cold Scandinavian winter playing golf in Spain. A similar trend to the Scandinavian is seen in many countries. People travel more and spending longer periods abroad has created a need to feel “at home” also when travelling. This is probably one of the main reasons why investments in private real estate has increased in recent years. More than spending a week at a hotel in a foreign country, a lot of people choose to own real estate in some of the most exotic places around the world. That way, they can be more comfortable during longer stays and with private rental services competing with hotels, it’s no problem to rent out the property for short term rentals to cover the maintenance costs.
It’s easy to see why buying property all over the world is a good idea, but good places come at a hefty price. Therefore, you might need to boost up your savings a little in order to afford the following beautiful cities in the world. Getting to invest in real estate in these cities is a good thing because the prices keep going up. When you decide to resell it, you will be able to sell at a good price.
Spain & Portugal
Foreigners can easily buy property in both Spain and Portugal and both countries encourage foreign investors. The comfortable climate, affordable prices and short distance from most European countries, have made both countries popular for anyone looking for a vacation home. The low cost of living in Portugal has made the country attractive to European retirees since the European Union made it possible to keep your pension while living in another European country, especially through Golden Visa Portugal. Retirees can enjoy a good pension from their native country and increase their quality of living in Portugal. The average price per square meter in Portugal is US$1500 for a flat, compared to US$3000 in France.
London has run out of so much space that the residents cannot afford to be building a flashy house. The best that you can get will be a townhouse. There are so many companies in this city, and this possibly explains why you will have to part with up to US$30 000 per square meter.
Also, there are a number of tourist attractions in the city as well, therefore, it is a hype of activity. Despite the huge price, there is a high demand for land in the city. And, what is shocking is that no one stays in the houses, the real estate is more like a placeholder.
People moving to New York, or foreigners investing in property here usually do it for business reasons. They have a job requiring them to stay longer periods in the city or invest in commercial property. New York is The business city of America, the city of lights and dreams but also with security and crime issues. It’s not by coincidence, New York is home to more Locksmiths than any other state in the US but still, this city is definitely every ambitious businessman’s dream. From fashion to the biggest stock markets in the world, this is the city most of the rich and famous go for business and shopping, therefore, we would understand why the land is pricey.
And, getting a piece of land in the big city is quite expensive as well. A square meter of land in this city is above US$17 000. And even though it is expensive, it is still greatly on demand. However, most of the property is bought up by large companies as accommodations for their employees or by investors.
This is a very beautiful place, and it comes with a lot of tourists as well. This explains why the land also comes at a costly price. You will have to be prepared to part with up to US$60 000 per square meter. Monaco has the most expensive land in the world. But, the place also comes with the most beautiful landscapes in the world. Therefore, you will definitely be getting your money’s worth.
Hong Kong is a hype of activities, and like Tokyo, it has some of the most beautiful nights. With so much activity taking place in this beautiful city, the land has to be expensive. You will have to be prepared to pay over US$25 000 to purchase a square meter of land in Hong Kong. And the living expenses are quite high as well, for example, you may have to pay up to US$7000 in rent for a 120 square meter piece of land.
Tokyo has the most beautiful city lights in the world. People would travel from all over the world just to get the Tokyo nightlife experience. However, their real estate pricing is not based on tourist facto. It is mainly due to the fact that the city is overpopulated. Therefore, there is a high demand for land. The crime rate in this city is very high and to others, the pricing of real estate in Tokyo is determined by the cartels and corrupt officials in the city. For Tokyo, investing in real estate would mean that you will have to be able to part with over US$16 000.
Russian land in Moscow is losing its value, but it is still among one of the most expensive lands in the world. The decliner is due to the fact that the real estate pricing was significantly causing inflation in the country to rise. Generally, land in Russia is quite expensive. You want to invest in Moscow you will have to be able to part with over US$16 000 per square meter.
But, if you want to buy it at a very low price, you can go ahead and invest in the farmland. Moscow is expensive because it has a vast amount of oil. The city holds the record for having the most billionaires in one city.If you are planning on moving to any of these cities make sure to get in contact with a local real estate broker. No one knows the area better than they do!