Introduction: 

Investing in real estate is a smart way to spread out your investments and earn money without having to work for it. With property prices going up in many places around the world, this might be a good time to think about adding international real estate to your investment plan. But remember, not every market is the same. Here are some of the best countries to consider for real estate investment in 2024:the United States, the United Kingdom, Germany, France, Australia, Turkey, Greece, the UAE, Cyprus, and Portugal.

1- United States: Various Real Estate Options

The United States is still a leading destination for real estate investment, in 2023 alone they spent 53.3 billion dollars on residential real estate alone.

despite a recent slowdown in market growth. Strong demand, driven by people moving to different areas and a shortage of available homes, suggests the market will continue to improve. The U.S. offers stability, clear regulations, and a wide range of investment options, making it an attractive place for investors.

Cities like Austin, Dallas, and Miami are particularly promising. Austin is expanding rapidly due to its booming tech sector, while Miami draws many international investors. Other regions, such as California and New York, are notable for their higher property values and potential returns. On average, the real estate market grew by 2.71% in 2023. 

Currently, the average price for a square metre in a city centre is approximately $6,000.

2- United Kingdom: Growing Cities with Investment Potential

The residential real estate market in the UK is projected to grow by 2.57% each year from 2024 to 2028. The combination of ongoing housing shortages and low interest rates is boosting demand and driving up property prices, making the UK an appealing option for foreign investors.

Besides,  areas outside London are becoming more interesting for investors. Cities like Manchester and Birmingham are growing and being developed, offering good chances for returns on investment. While London is still a major player, these other cities offer more affordable options with potential for growth. The UK’s property laws are also reliable, making it a safe choice. 

On average, a square metre in a city centre costs over $5,000. In London, however, prices are nearly three times higher, highlighting its position as one of the world’s most expensive cities.

3- Germany: Market Recovery and Growth

Germany’s real estate market has been changing due to a shortage of homes and negative interest rates. In 2021, the market saw a record number of transactions, thanks to strong foreign investment. Germany stands out for its stability, as Europe’s largest economy, and offers a high quality of life.

While Germany is a key player in Europe’s real estate market, it faced challenges recently. In 2023, house prices dropped by 8.4%, marking the first decline since 2007. However, the market is expected to recover slowly, with a projected annual growth of 3.55% from 2024 to 2028.

Many Germans rent rather than own property, which presents opportunities for foreign investors. The country provides various tax benefits for rental property investments, and rental income usually exceeds interest costs. Although property prices are high, with an average of €5,700 per square metre in city centres, the market remains attractive for investors.

4- France: Classic Charm and Modern Investment

France, especially Paris and the French Riviera, is still a top choice for real estate. Paris is known for its steady property market, while the French Riviera attracts many tourists, boosting demand for vacation rentals. Property prices in France are generally stable, with potential for value increases.

From 2024 to 2028, the residential real estate market in France is expected to grow by about 2.5% each year. The country’s stable economy and low mortgage rates make it an appealing place for property investment. On average, property values in France are over €6,000 per square meter. In Paris, however, prices are much higher, reaching nearly €12,000 per square meter.

5- Australia: Cities with Stable Real Estate Growth

Demand for property in Australia has quickly recovered after a slump caused by COVID-19. Investors should focus on Sydney and Melbourne for potential growth, while Brisbane still offers good rental returns. Although property prices are high, Australia provides a stable and clear investment environment.

Australia has specific rules for foreign investors. Non-residents can only buy new properties or empty land for building, not existing homes. However, temporary residents can buy existing homes but must sell them when they leave the country. These transactions need approval from the Foreign Investment Review Board.

The real estate market is steadily growing and is expected to rise by 3.57% each year over the next five years. On average, a square meter in a city center costs about $7,300.

6- Turkey: Affordable Properties with Big Potential 

Turkey stands out as a premier real estate investment opportunity due to its remarkable growth potential and affordability. The Turkish real estate market is projected to expand from $99.05 billion in 2024 to $168.11 billion by 2029, achieving an impressive annual growth rate of 11.16%. Istanbul, where Europe and Asia converge, is a hotspot for lucrative real estate investments, offering diverse and profitable opportunities. 

Today, Turkey’s market is particularly attractive because of its combination of affordable property prices and high return potential. Despite recent economic challenges, including high inflation (17.14%) and a weakening Turkish Lira (down 19.6% against the US Dollar), the real estate sector remains robust for foreign investors. The country has recently implemented favorable regulations, such as making it easier to obtain citizenship with a $400,000 property investment. Compared to other countries on this list, real estate prices in Turkey are relatively low, with an average cost of around $2,000 per square meter in city centers. 

This affordability, combined with strong projected market growth, makes Turkey an exceptional investment opportunity with potential for substantial returns.

Success in investment is often measured by the returns achieved, and Turkey represents one of the most promising investment opportunities. Currently, real estate prices in Turkey are among the lowest, providing a great chance for investors. It is highly likely that property values will rise significantly in the near future, which means that the profits you can make from investing in Turkish real estate could be substantial compared to the current purchase price.

Imagine investing in a property now for $700,000. Given the expected increase in value over a short period, you might find yourself able to sell that same property for double or even more than the purchase price after just one year. This suggests a strong potential for profitable returns due to the growth in Turkey's real estate market and increasing demand for properties there.

7- Greece: Market on the Rise with Investment Perks

Greece is an attractive choice for real estate, particularly in Athens and on the Greek islands. The market is recovering, and property prices are starting to rise. Greece also offers a Golden Visa Program, which provides residency to investors. The high demand for vacation homes in popular tourist spots adds to Greece's appeal.

The Golden Visa Program allows non-EU citizens to obtain residency by investing at least €250,000 in real estate. However, starting August 31, 2024, the minimum investment requirement will increase to €400,000. Investors who make a 10% deposit before August 31 and complete the purchase by December 31 can still benefit from the current lower threshold.

With the Golden Visa, investors and their families receive a five-year residency permit, which can be renewed as long as the investment is maintained.

In 2023, property prices in Greece increased by at least 12%. However, with new regulations for foreign investors, this growth may slow down. On average, an apartment in a city center costs around €3,000 per square meter.

8- United Arab Emirates: Luxury Real Estate with High Returns

The UAE, especially Dubai and Abu Dhabi, is a top choice for real estate investors interested in luxury properties. The market offers high potential returns, particularly in the upscale segments. With a business-friendly environment and strong property regulations, the UAE is an attractive place for investment.

In Dubai, there are two main options for obtaining residency through real estate investment. Investing $545,000 in property can qualify an investor for a 10-year residence visa. Alternatively, a minimum investment of $204,000 provides eligibility for a two-year residence visa.

In 2023, demand for residential properties in Dubai was extremely high, leading to an 18% increase in house prices. On average, an apartment in the city center costs just under $4,800 per square meter.

9- Cyprus: Mediterranean Homes with Great Benefits

Cyprus is a great option for real estate investment, especially in cities like Limassol and Nicosia. The country offers a friendly tax system and residency benefits for investors. Cyprus’s sunny Mediterranean lifestyle and growing property market make it an appealing choice for those seeking a warm investment location.

To obtain permanent residency in Cyprus, investors need to make a minimum real estate investment of €300,000. The country is attractive because permanent residents do not have to pay taxes on their global income, including dividends and capital gains.

Cyprus is popular with expats, which creates steady demand for real estate. Property prices are expected to continue growing at about 4% per year over the next few years. Currently, the average price for an apartment in a city center is below €3,000 per square meter.

10- Portugal: Growing Market with Strong Investment Potential

Portugal is becoming a popular choice for real estate investment, especially in cities like Lisbon, Porto, and the Algarve region. The country’s Golden Visa Program provides residency to foreign investors who buy property worth at least €500,000, with a path to permanent residency or citizenship after five years. The real estate market has been growing steadily, with prices increasing by about 7.8% in 2023 due to strong demand. In Lisbon and Porto, average prices for city-center apartments range from €3,500 to €4,500 per square meter, though in Lisbon, prices can go up to €6,000 per square meter. Portugal’s stable economy, pleasant weather, and high quality of life make it an attractive option for investors looking for both value and lifestyle.

Conclusion

As we move into 2024, these countries offer a range of investment opportunities. Whether you are looking for established markets or emerging prospects, each location has its unique advantages. Turkey stands out particularly due to its significant growth potential and affordable property prices, making it a standout choice among global real estate markets.

Consider factors such as local investment laws, market growth, and demand when determining the best place for your real estate investment.