Buying property abroad isn’t without risk and complexity, but seems there should be some pretty strong buying opportunities in the coming months/years as the economic chaos decimates just about every market around the globe.
For those with ample cash on hand (particularly USD), there are a lot of favorable forces forming — a strong dollar, inconceivable levels of distressed inventory, motivated sellers (many over-leveraged landlords whose rental income is disappearing), and rock bottom interest rates in lots of places.
That data might be different now and probably continue to change quickly, but at a glance there’s some intriguing markets there.
Places like Colombia and Turkey saw their currencies severely plummet in recent months, so a dollar is going way farther now. Those markets will slow down for awhile (like everywhere), but they’re major international hubs that’ll likely bounce back and regain their growth trajectory soon enough. Capital cities like Bogota and Istanbul were fairly cheap before, now considerably cheaper.
Then there are spots like Spain and Portugal, lots of people probably overextended themselves and will be forced to liquidate their 2nd homes or rental properties. Seems lots of Brits have summer places in those countries, and they’ll be feeling the squeeze both from the macro mayhem as well as Brexit.
What are folks thinking about the prospects / risks for international real estate over the coming months and years?