Why do you need to pay lots of money for a home of your dreams if you can get good mansions with a magnificent view practically for nothing? Why are so many guys fighting for square meters in the vicinity of Paris, from which it takes half a day to get to the Eiffel Tower?
Is there life outside New York City? Is it fair that a five-bedroom apartment in Colorado is cheaper than a resale in Limassol? Why is no one willing to buy cheap duplex apartments and three-story houses in tropical countries like Nicaragua, Mozambique and Madagascar?
The questions, of course, are rhetorical, but from time to time they arise for everyone. Even for realtors who should know what factors affect prices.
It's because people, as the species name suggests, are intelligent beings. The fish is looking for where it is deeper, and the person, where it is better, cheaper and a good view from the window.
Real estate in Cyprus is prestigious and comfortable (in most cases).
This is an opportunity to easily get a residence permit if you are not a EU citizen. Cyprus is a suburb of Europe, there are advantages of European villages, but there are no urban problems.
This is an opportunity to be on the sea within some minutes and admire one of the most beautiful sunsets in the world from your balcony. This is an excellent investment that will only increase their price.
Property in Cyprus is perfect in everything but one, the prices.
Let's look for other options. The review below does not take into account the current pandemic. The epidemiological situation is changing faster than spring weather, and all epidemics end sooner or later.
Paradise on earth for downshifters, freelancers of all types and adventure seekers and mystical revelations who love to loiter around the world. But that's not all, as Thailand is a great place to invest in real estate. You can buy an apartment here for $30,000 and a house with a pool for $60,000. The bonus will be a wonderful climate, delicious food, polite locals, measured life.
There are legislative disadvantages (and where are they not?) Kingdom of Thailand has restrictions on the ownership of detached real estate. Only Thai citizens or Thai companies can own such plots. Foreigners can take real estate for a long-term lease (up to 30 years).
A separate local feature is condominia.
Foreigners are offered to purchase an apartment. Limit is no more than 49% of the total area of the condominium. The majority of foreign investors are concentrated in the condominium market. The cost of such a condominium in Pattaya is about ฿1.3 million or €30 thousand.
An apartment on the coast will cost inexpensively - about $50 thousand dollars. Let's take a look at two options - the mainland and the tropical island.
Brazil is a country with a thriving economy, unrestrained temperament and vitality of local residents, as well as… crime. Fortunately, not all areas are equally dangerous. Some places are very dangerous, but there are also many wonderful places where you can walk on the street at any time of the day.
One of them is "Little Rio", it's the town of Vila Velha to the north of Rio de Janeiro, surrounded by tropical forests and mountains with green peaks. They will separate you from the favelas, where there is a continuous war between the police and the drug mafia.
Another option is truly the paradise island of Itamaracá (Ilha de Itamaracá). It is separated from the mainland by the Santa Cruz Canal and the salt water canal, both of which are in the Atlantic Ocean. Itamaracá is connected to the mainland by a long road bridge.
The total area of Itamaracá is 66.68 km2, and the population in 2018, according to IBGE, was 25,836.
The island's population is growing rapidly. The main reason is that many people choose it for permanent residence. Itamaracá is located about an hour's drive from Recife International Airport. About two thirds of the island is covered by a protected natural rainforest (Mata Atlântica). At the same time, most of human activity is concentrated on a narrow sandy strip along the ocean coast.
White sandy beaches with a length of about 12 km stretch along the east coast of the island. They are protected by a reef that surrounds the island on the ocean side, making the island's waters shallow, safe and warm. Year-round temperatures typically range within a narrow range of 26-31°C (79-88°F), with the rainy season from May to July. Building codes of 1995 have limited the number of floors in buildings to two, resulting in a complete lack of multi-storey housing estates. Industrial activity is not permitted on the island. Coastal apartments are available from $50,000, while real estate in the heart of Itamaracá is even cheaper.
3. Dominican Republic
Dominican Republic is located on the island of Haiti. It is a developing country selling delicious coffee, tobacco and tropical fruits. But, most importantly, here is the legendary Caribbean Sea, once teeming with pirates, and now giving peace, getting rid of negativity and depression. The water in local bays is so transparent and clean that you can see all the marine life everywhere. The mild climate, organic products, all this makes the coast of the Dominican Republic very popular.
Thousands of investors annually invest their money in houses, apartments, bungalows. Real estate in the Dominican Republic is considered by experts to be very liquid. And many people simply move to this warm country forever.
Before the outbreak of the coronavirus pandemic, the country experienced a period of growth, being an extremely popular tourist destination. As soon as it becomes possible, foreign tourists will run to local beaches, which means that buying a home and then renting it out to tourists can be a very profitable investment. Property prices in the Dominican Republic are relatively low.
For $40-50 thousand in popular resorts (Sosua, Cabarete or Bavaro), you can find a small apartment located 5-10 minutes from the beach. The law allows foreign buyers to purchase any real estate in the country, including land.
All the villas, bungalows and condominiums mentioned above are located on the coast of the distant seas. However, if you search, you can find options closer.
Sometimes you can find something even in developed countries. In any urban areas there are expensive and cheap neighborhoods, the same rule applies to countries in general. For example, in Italy, depending on the region, housing prices can vary significantly. For example, the cost per square meter can reach €4-6 thousand per 1 m2 in the prestigious San Remo. Here, even a small studio will cost six figures number.
But there is another Italy. It is not for tourists, it is for internal use. Here the same sun, sea and sand, but cheaper. Much cheaper.
Take a look at the town of Scalea in the south of the country. About 10 thousand people live here. You can buy an apartment for €23-25 thousand in a house built 20-30 years ago. The home will be compact - a bedroom with a kitchenette, a hall, a combined bathroom and a small balcony. You will get old furniture as a gift, it will be about a kilometer to the sea. What else is needed?
The second option is the mountain town of Abruzzo, where an apartment can be bought even for €1,000. Yes, the locals have already moved out, but there are mountains and entertainment nearby.
The most cheap option in a European country by the sea. Yep, not all real estate is sold at bargain prices. The prices for new villas, although several times less than in Cyprus, are still high and do not belong to the cheap category we are looking for.
However, if you search, you can find offers not on the coastline, but at a distance of four or five songs in the player from the sea. Among the huge variety of residential complexes, you can find really cheap accommodation options. For example, on the outskirts of Sunny Beach (the distance to the sea is about a kilometer), you can buy a studio for only €13-15 thousand (€450 per 1m2) in a house without architectural and infrastructural refinements, Moreover, the residential complex will be modern - five to seven years old.
The footage of an apartment of this value is likely to be "childish" for you. Of these 27 "squares" declared in the announcement of the sale, feel free to subtract some meters for the balcony, the same amount for the hallway and bathroom, and also for the kitchen corner. As a result, you will have about 14 m2 of living space. In a word, not quite an apartment, but rather a personal room in a simple hotel.
However, if you really need even cheaper, then your ideal option is a tent.
You can find out more information about new buildings in Cyprus on the DOM real estate website. The website also has a large number of real estate objects in the country both residential and commercial. Choose and contact professionals who will help you make the right choice!
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