Hello, I just happened upon this forum. Because International travel and real estate investing is a great interest to me, I thought I would introduce myself and hope to start a conversation on options for the favorite places to purchase real estate for like-minded people. My current properties in Medellin and France have been a mixed bag, but I am happy I made them. I currently have both on short term rental platforms and have been doing reasonably well the past 5 years.
I only purchase on areas I would like to spend time and possibly live in the future. I also decided only to purchase places where historical currency valuations for the USD are to my advantage. So Thailand, where I have been the past year for Covid, is not an option because of the strong Baht. I also am concerned with SouthEast Asia's tendencies to disallow foreign freehold ownership of land and strong laws against short term rentals, even if not mostly enforced.
I am currently in contact with and purchasing real estate in Cape Town, South Africa, Marrackech Morroco, and Rio de Janeiro, Brazil. I have spent time in the past in all of these places and would like to return, I'm rambling here, but my question would be, are there any areas that people would recommend for a USD currency advantage and a nice lifestyle?
The lockdowns were good moments to profit from weaker currency in Czech. Turkish Lira must also have weakened quite a bit, although they often prefer payments in Euros when I was there last year. Otherwise, I hear it's quite nice there...
Hi Matthew. I had looked at Prague for a second home and rental income back in 2015. I see prices have increased significantly since then. I should have pulled the trigger back then. I liked Prague 5 in particular. Thanks for the heads up on the currency play. Ill take a look.
I have spent a few months in Istanbul and like the city. Another good option especially considering the Liras weakness
I'm not sure what your definition of a nice lifestyle is. Only you know. So, you could select all the places that fit your good lifestyle definition and check where the currency is at. An easy place to check that is trading economics.com.
Two caveats. In some countries, all or some of the properties are traded in USD or sometimes in euros. Nobody knows where currencies are headed (against) the USD. Some falls in currencies against the USD are deserved while others are not. The ones that are deserved might not reverse.
Also, if you want some nice rental income, the place must be desirable. And there are also the legal and ownership aspects, as you mentioned.
Some usual suspects are Colombia, Brazil and Turkey. In Brazil, I'd go for Fortaleza and the North-East coast within Ceara rather than Rio de Janeiro.
Thanks for your insight, Tom. A couple of issues right now is I will most likely be purchasing the properties from here in Thailand so I feel limited to cities that I have visited. Hence Rio and not Fortaleza being I have never spent time there and do not know if its a livable place for myself. I haven't wanted to venture far from Thailand because of the Covid situation around the world. Would you purchase properties over the internet, not in person? It seems doable with today's technology but this will be my first time trying.
Personally I’d never buy property in Thailand for two main reasons:
Firstly, even short term is super cheap so I rather rent for my own usage and I can’t make serious money as an owner.
Secondly, Thailand treats foreigners as second class property owners and you can’t hold freehold. And buying a condo on superior floors isn’t really buying freehold since you can’t own your part of the ground.
I am in the process of trying to create that type of lifestyle or looking more internationally in general. I have mostly been looking at Colombia and Mexico. I have also been trying to do a little bit more research as far as the currency, but it seems to me that the asset and location itself are what matters more. @Waylon L.
Yes, I agree. Thailand is a complicated place to own property. What I meant was I will be purchasing a property in the countries I mentioned without visiting the properties as I plan to stay in Thailand until a better idea of international travel emerges. I do not want to leave a Covid free country for a country with high rates of Covid like Brazil so I more than likely will be purchasing through photos, video, and google maps. Have you made purchases in this fashion before?
Hey Brandon. I have experience in Colombia as I bought my apartment in Medellin in 2012 and lived there on and off until 2017. I still have my property there, but I could not justify living there even though it really is a great city with friendly people and excellent amenities because of the security concerns and pollution.
In 1997 I lived in Mazatlan, Mexico, for a year, and while I have not been back, I have fond memories of the friendships I made and the great cuisine. I haven't visited the Cancun area yet, but I am considering it my next move if and when I decide to leave Thailand.