5. MEXICO
Mexico remains a top destination among Canadians and Americans for both tourism and retirement. Thanks to restricted travel and an expanding middle class, Mexico is enjoying good growth in the local tourism market in 2021.
All that combines to make Mexico a top choice for a property rental investment.
Top markets include Puerto Vallarta on the Pacific coast and Playa del Carmen on the Riviera Maya. In both of these popular tourist towns, a rental property can generate excellent yields.
Mexico offers financing options for non-residents, generally from U.S. lending institutions set up in Mexico specifically for that purpose.
6. TURKEY
Turkey is having a record-breaking year for property sales, up 107% compared to May of 2020 thanks, in large part, to foreign buyers. Foreign investment has increased in part due to Turkey’s successful CIP, but this accounts for only 20% of overall sales. Turkey is also seen as an attractive destination for lifestyle and investment opportunities. Half of this year’s property sales took place in the country’s most vibrant and historical city, Istanbul.
Istanbul was the world’s ninth most visited city in the world in 2018. That was behind brand-name cities like Paris, London, New York, and Tokyo… but ahead of other major cities, including Berlin, Barcelona, Rome, and Los Angeles.
In addition to tourism growth, Istanbul and Turkey in general are enjoying strong economic growth as the population increases and the middle class expands. Turkish buyers are re-entering the market due to reduced interest rates. Both tourism rentals and student rentals are appealing rental investment options.
One of the biggest selling points for an investment in Istanbul is the low cost of entry. A rental unit in this market is within most any investor’s budget.
