Real estate is one of the select few industries that despite several crashes in different geographical markets, remains one of the strongest. It definitely has an ebb and flow to it that depends on a number of outside factors, particularly when it comes to which areas are best to buy in at the moment. Below are some of the prime areas worldwide for purchasing real estate right now.
The Best Places in the World to Buy Real Estate Right Now
- Austin, Texas (and surrounding areas)
“Silicon Hills” is the new nickname for a cluster of tech companies in the Austin area, an obvious homage to Silicon Valley in California. The name and the presence of the companies are both in reference to a trend in which valuable tech businesses are moving their home bases, mostly to Texas and Georgia. Given Texas’s high rental rates, it’s hard for an investor to lose on a foreclosure or other cheap property, and if the trend of tech businesses moving to Austin keeps up, we could be looking at the same kind of massive increases in property value that California has been experiencing for decades.
- Pittsburgh, Pennsylvania
The new headquarters of Google, and a hub for film production second only to Hollywood, Pittsburgh’s median home cost of $150k seems unreasonably low. Given the availability of work and great cost for the home buyer, Pittsburgh carves out a very solid niche with the non-investing crowd, and the side effect of making money on your home is definitely nothing to scoff at. Of course, that’s not to rule out investors as potentially interested, as with the increased tech presence, rentals are likely to rise!
- Denver, Colorado
Denver and its surrounding suburbs are exploding (with some nod to the legalization factor that began the ingress), with Douglas County (about half an hour south of Denver) being in the top ten growing counties nationwide for a few years running and property values growing by about five percent per year. Those may seem like reasons not to invest right now, but the flow of people moving into Colorado doesn’t seem to be slowing. Plus, business opportunities continue to grow (especially with the new, booming cannabis industry), and housing isn’t expanding fast enough, ensuring high rental prices for the investor.
With mankind continuously expanding their foot print, agricultural land is becoming a rarity in terms of availability. So much land is being purchased to accommodate residential and commercial growth that agricultural land is falling by the wayside. However, it is about to reach a tipping point, as all of those people still have to eat.
Paraguay is known for acres of rolling farmland, and it is being touted as a prime investment opportunity. Many companies will let you buy the land for hardly any cost, while they maintain it for agricultural growth and allow you to profit from it. Land prices here and in similar countries have increased, understandably, but the strength of US currency allows for a fairly strong farmland investment case.
While foreigners are unable to purchase just land in Thailand, they can purchase property aplenty. Condos and apartments are popular real estate options, and gaining interest by the day as both vacation homes and money making investments. According to Thailand, no more than 40% of a condominium building’s unit can house foreigners, but a foreigner is allowed to buy the entire condominium building, as long as the land on which it sits is excluded. Whether purchasing something for vacation (or even a second home), or as an investment, both the fees associated with lawyers and realtors have been reported at exceptionally low levels. Overall purchase costs are also at reported lows.
When looking to invest in property, especially globally but truly any property, you should look to an experienced travel firm to help find the best property that will match both your desires and requisites. Even if you are an experienced traveler, having a second and third set of eyes combing over offers will make the purchase process more enjoyable. The type of firm you choose to have help you will often publish a blog of their success stories. Looking through this, such as the blog from HHPP, will give you an idea of whether this firm can help you locate your dream property, in whatever area of the world it may be.