Best Countries In The World To Buy A Vacation Home

Italy

This country is on top of the traveller's list, thanks to a perfect cocktail of historical places, art galleries, and beautiful countryside landscapes. No matter what you enjoy most during vacation, this country has plenty to offer. This is the biggest reason that many people want to buy vacation homes here. One more thing, properties in Italy are very affordable in comparison to other European tourist destinations. As a property buyer here you will enjoy low transaction costs, tax incentives and good governance. 

According to government data, “60% of travellers in Italy preferred to stay in rented accommodation or their holiday homes, rather than hotels & motels.” So there is a favourable market condition if you wish to buy a holiday home in Italy.  

Another data on vacation homes in Italy has revealed that 75% of holiday home buyers here are Italian nationals and 25% are from other countries. And if we only talk about these 25% then approx 77% of buyers are Europeans, 5.5% of buyers are from the USA and the rest are from Australia, New Zealand, China and other countries.

Greece

We have many best reasons for you to consider Greece as your holiday home like easily accessible via sea & airways, pleasant weather (18-degree average temperature), low crime rate, low transaction cost, residence permit and good quality of life etc.

In 2021 this country ranked among the top 10 real estate investment destinations in Europe. When it comes to FDI, the country ranks 23rd position with most of the investors from the USA, China, Russia and UAE etc. 

A big influencing factor for real estate investors from other countries is the Golden Visa Program which was introduced in 2014. Since then more than 30K people have received residence visas. Now it is your choice & turns. 

Costa Rica

Vacation Home in Costa Rica is one of the most searched keywords on the web, especially in the Central America region. Tropical weather, a long list of outdoor activities and flourishing communities work as a magnet for vacation home buyers in Costa Rica. 

There are countless reasons behind the craze for properties in Costa Rica like peace & tranquillity, vivid green jungle, easy & 100% foreign ownership, simple & transparent property buying process, very affordable property tax, stable & growing economy etc. 

In the last few years, approx 50% of property buyers in Costa Rica purchased properties for vacation homes and rental income. Most of the property buyers use their properties as vacation homes for a few days or weeks and the rest of the time for rental income. 

Now the biggest question is - what can I expect as a foreigner vacation home buyer? 

If we study recent real estate trends in Costa Rica then you can expect a 5 - 8% annual return on investment in vacation homes. According to the local real estate advisors, a well-maintained holiday home in Costa Rica is reserved approx 230 days of the year for rent. And if you choose the best location with eye-catching views then these numbers can climb. 

Turkey

This country is always on the wishlist of travellers thanks to the pleasant climate, abundance of natural views, a perfect mixture of Western Asia and Southern Europe culture and Historical monuments. So there are a lot of opportunities for vacation home seekers in Turkey.

Affordable property prices are one of the biggest attractions. In comparison to France, Spain and Portugal, real estate investment here provide excellent value for money. 

Before the Covid era, the average yearly transactions in residential property were 40,000 to 50,000 by foreigners. At that time this country was ranked among the top 10 holiday destinations in the world. Currently, Turkey Real Estate has experienced a big jump in property prices and if you are planning to buy a vacation home in Turkey then this is the right time. 

Croatia

Cultural heritage with a perfect dose of warmth and hospitality of Croatian citizens not only attracts a large number of travellers but vacation home seekers from around the world. Now many real estate investors including businessmen, popular celebrities as well as common men are eager to buy a vacation home in Croatia. 

But, but, but…

Before you think or plan to buy a holiday home in Croatia, it is better to check if you are allowed to do so or not. If you are Croatian then definitely you can buy any property here. If you are a citizen of EU member states then you may have to fulfil some obligations and then you can buy property here.  

But if you do not belong to EU member states then things may not work for you. Because this country only allows investors from nations with a reciprocity agreement to buy property in Croatia. So, check the list of eligible countries and if you are not there then you have to look for other options. 

Portugal

Just like other travelling destinations, Portugal is also famous for its pleasant climate, beautiful beaches & seashores, and friendly people. And the best thing is that there is no additional paper requirement for foreigners who want to buy property. That’s why it is the best option for foreigners who are looking for vacation homes. 

These foreign vacation home buyers are not only looking for a destination to enjoy their stay during holidays but also for a residential property to invest in. According to real estate agents in Portugal, investors from many central European countries like Germany, Belgium, Dutch & France etc. preferred to buy holiday homes here in secluded areas. German holiday home buyers already hold approx 15% share in the total number of transactions. Most of the buyers preferred luxury properties like detached townhouses with traditional interiors & exterior design and eye-catching views of the sea or green.

Residential property price in the 2nd quarter of 2022 has seen a jump of 0.5% compared to the 1st quarter of the same year, and a surge in the rental of 1.5%. So, this is the best time to buy a vacation home in Portugal.

Brazil

With the name Brazil, many things come into the mind of foreign travellers & real estate investors like carnivals, beaches, low cost of living, delicious foods & drinks etc. But still many people are in doubt that this country will be one of the top holiday destinations in the future. 

According to the experts, now this country in South America is rising as not only a top tourist destination but a most preferred destination of vacation home seekers. Even though there are many misconceptions about safety risks & scams, still Brazil is growing with rising real estate investment from foreigners. You can expect a good rental income & peaceful holiday from a vacation home in Brazil which is positioned at a peaceful yet well-connected location with great recreation options nearby. As well, this is a good real estate investment too. 

Malta

This island country is part of the EU and is well known for pleasant summer holidays with plenty of beaches, eye-catching views, partying, seafood and every ingredient of a memorable vacation. Malta is reachable from Europe and English is one of the official languages in this country. People from Europe and other English-speaking countries feel comfortable here. That’s why many visitors come here only for holidays but go with investing & buying a vacation home. 

From the investment point of view, the Dubai property market in Malta has recorded a YoY growth of 1.9% in Jun 2022. This is an optimistic growth for real estate investors. 

Belize

This is one of the few most preferred hotspots for Americans & Europeans to buy vacation homes. Clean & safe beaches, friendly residents, an affordable lifestyle and English as a common language are the biggest attractions for tourists & real estate investors. 

According to real estate investment advisors, “buying a vacation home in Belize is easier than in your own country. As you know that Belize has a history of British colonialism so the property buying procedures are almost like the UK and USA.” This is a rising real estate & tourism market and with a vacation home in Belize, you can hit two targets with the same arrow. 

France

This country is a paradise for holiday lovers, so vacation homes in France are very much in demand. Snow-capped mountains, beaches, historical & art museums, castles, busy streets and wide-open fields, what's not there? 

If you frequently visit France for holidays or other purposes then you can consider buying a vacation home here. Because you can not only use this property personally and cut your holiday expenses but earn good rental income, as here the occupancy rate is very high in comparison to other tourist destinations of the world. If we analyze the real estate trend of last year then we can expect a price rise between 8 - 10%. This trend applies to all property types including vacation homes. 

Mexico

This country has numerous things to explore for travellers like World Heritage sites, 600 miles of coastline, beaches and ancient towns. With a vacation home in Mexico, you can enjoy your dream life and earn a good rental. If you are planning to buy a good vacation home in Mexico then this is the right time, only we are not suggesting this but you can analyze the recent real estate trend in Mexico. 

After Covid, the residential property market of Mexico remains stable & growing, thanks to the improving economic conditions. In 2021 nationwide residential property prices rose by 8% and in 2022 quarterly basis appreciation rate was approx 3%. So the future of residential property & vacation property investment is bright. 

Morocco

There are lots of things that make Morocco a most preferred choice for travellers & vacation home buyers. This North African country has cultural influences of Arabian, European and Berber traditions. Souks of Marrakech, Mountains, Desert and Seashore give it an almost magical charm, which attracts travellers from different parts of the world. 

In 2018 -19 there was a huge demand for vacation homes in Morocco then Covid-19 has had more adverse impacts on property demand. If we talk about real estate trends then, residential properties in this country have seen a drop of 5% in price in March 2022 and a 6% drop in March 2021. According to the experts, there is an improvement of 1% YoY in property value appreciation and this is the best time to plan & buy a vacation home. 

Panama

Panama is a haven for investors, and travellers it has natural beauty, beaches, hills, jungles and colonial settings. That’s why many holiday home buyers love Panama. 

But why?

Property price is the biggest reason. A buyer from the USA can purchase any property here at less than 1/3 the price of their home country. The property buying process is easy & transparent just like for Panamanians. As well as, there are many rules & regulations in Panama for the protection of the rights of foreigners. 

Albania

A perfect country for holiday lovers who are foodies, adventure seekers, and peace lovers. Albania and particularly its capital Riviera is one of the most desirable hotspots for travellers & vacation home buyers. This is one of the friendliest regions in the world, if you are in trouble and seeking some help then there will be someone ready to help you unconditionally. 

Albania is the new love for vacation home seekers. Hundreds of miles long coastline with hotels, resorts and restaurants etc. are gaining the interest of international buyers. Property price & demand is increasing with no possibility of a downturn making real estate investment lucrative. 

England

Everybody knows about England, and everybody wants to visit England once in their lifetime. This country is well-known for castles, churches, museums, mountains, rivers and whatnot. Every year millions of people visit England. So there is a huge demand for vacation homes in England. 

This is one of the few countries with a free and stable economy. Vacation home in England will not only provide your place but also generate a huge gain if you want to sell it.

Conclusion

Vacation home in other countries has multiple advantages. But before reaching any conclusion it is very important to know about the residents, major attractions, and economy & real estate development of the specific country. In this blog, we have revealed the top 15 countries to consider and now it's your turn to choose the best one, according to your budget, convenience and eligibility. 

If these upper mentioned 15 destinations for vacation homes in the world are not suitable for you then you can consider Dubai real estate. Here you can buy a studio, apartment, floor, villas & townhouses as holiday homes from reputed real estate developers.

Why?

Last year this city was ranked as top five cities in the world. During the Covid-19 restrictions, this city welcomed more than 7 billion visitors. A big credit goes to Dubai Expo 2020 and the Initiatives taken by UAE Government. If we talk about the first half of 2022 then it is outstanding. According to different data & statistics, the Dubai Residential Property Price Index touched the 10-year high mark. Dubai Land Department has registered approx 9000 transactions worth AED 22.75 Million. So, it is clear that your investment in vacation homes in Dubai is Sureshot for lucrative returns.

Dubai Housing as your real estate investment guide can provide you with some of the best options for vacation homes from builders like Emaar, DAMAC and Sobha etc.