There are no certainties in the world of investment, but the closest you can get to a sure thing is putting your money into property. Whatever else goes on with political regimes changing and pandemics raging, people always need places to live, and they persistently aspire to having bigger and better places. It’s no wonder that there are so many budding landlords around.
For those who want to invest in property, buying locally is a perfectly solid option. It’s convenient and straightforward, after all, and the UK remains a strong market. But if you want to take things to the next level, you need to think seriously about buying property overseas. There are so many opportunities out there to achieve levels of profit and appreciation that you just can’t get within the boundaries of the UK.
Deciding to invest abroad is just the first step, though, because you then need to figure out where you’re going to look for property. How can you narrow things down? Well, let’s take a look at four countries in which you should first consider buying property. Let’s get started.
Canada
When the pandemic hit, many people predicted that the property market in Canada would be hit hard. It was partially a matter of timing: the market is highly seasonal due to bitterly cold winter weather, and COVID-19 hit just as the conditions were starting to warm up. But that downturn didn’t happen. In fact, the market got hotter, and Canadians are still buying property in huge numbers (while interest from abroad is similarly high).
So where should you start? Given how spread-out the population is, you should stick to core destinations like the capital Ottawa. Demand is so high that there’s immense financial support for new buyers (Ottawa brokers Breezeful explain the types of mortgage rates Ottawa has to offer), so you can take advantage of that — and the demand also means that having property to rent will allow you to present a strong alternative.
The United States
America is one of the richest nations in the world, and it remains a fantastic option for landlords hunting for new properties. What makes it so good? Well, part of it is the sheer variety on offer. Whether your objective may be, you can achieve it in the US, whether you’re renting out beachfront property (House Beautiful lists some of the best US cities for that) or picking up a bungalow in an icy forest. The climate breadth far exceeds what you can get in the UK.
It’s practically akin to an assortment of countries such as the EU, in fact, and if you establish a business presence there then you can look across all the states. If you can afford to buy property in a key area like Los Angeles or New York, the sky’s the limit. And since relations between the US and the UK are generally strong, this is a good route to take.
Australia
As the most distant country from the UK that has English as its national language, Australia offers a great combination of exotic locales and familiar structures, making it ideal for Brits who want to expand their property portfolios overseas. Despite the size of the country, people are largely clustered in some densely-populated areas, ensuring that property is always in demand.
Given the massive investment being put into Western Australia (WA), somewhere like Perth may be an ideal location to buy property. In addition to giving you a stable foundation for making money, it’ll allow you to enjoy the scenery while you’re visiting the area (which you should still do on occasion even if you’re based in the UK, despite the length of the trip).
Germany
If you want to invest in European property and want to stay within the EU, Germany offers tremendous stability. It’s functioned as an economic and political powerhouse for decades, and there are plenty of renters given its popularity as a business nexus: given the rise of remote working, it’s easy to see more and more people choosing to live there.
And while you will have reasonably strict obligations as a landlord in Germany, the lack of restrictions on purchases means that you shouldn’t face any major obstacles to reach that point. It will help if you can speak some German, of course, but it’s hardly a necessity given the broad use of English — and you can always learn some while getting things set up there.
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