You likely already know the U.S. real estate market experienced an unexpected boom in 2020. However, the housing shortage often makes it difficult for you to purchase investment properties at prices that lead to solid profit. Because of this, you might now want to turn their attention overseas.
Sadly, the economic crisis of 2020 negatively impacted housing markets across the world. It caused housing prices to plummet. Even so, it provides the opportunity for foreign investors to purchase property, renovate or rebuild them and rent them back to residents or tourists.
Forbes reports that Italian housing prices continue to fall to historic lows. In fact, this trend now stands at 15 years old. Experts believe the overall price drop could reach 30%. The country lost much of its tourism opportunities, but when those markets bounce back, if you own property there you might reap big rewards.
Americans who prefer not to own property too far from home might consider Mexico. The Riviera Maya grew from a quiet area to a booming tourist spot. This sent property prices soaring miles high. Because the area relies on tourism, like Italy, its economy now suffers. Buyers willing to hedge a bet on tourism re-growing might make profits from investing here.
In Central America, Panama City grew to become one of the biggest financial centers, comparable with Singapore and London. This area also boasts high safety ratings and high stability. To make things even more favorable for you, real estate investors expect to reap big rewards in the form of massive tax credits, soon. Experts at Forbes believe you might make as much as six figures in profit with these investments in just five years.
Several other markets exist that you might consider. Some might hold such hidden opportunities that only locals know the potential.