Can you buy real-estate in any country?

Question

I was reading up how Canadians can buy real-estate in the US and I was wondering if you can do the same thing in another country.  Such as making investments in the UK, China, Japan, Australia, etc?

If that's possible, would it matter where I live when having investments in foreign countries?  Such as, if I lived in Canada and had properties in the UK, but then I decided to live in China for a few years, would moving to another country affect my foreign properties?

Roy N. · Answer

Account Closed

There is no simple, or single answer, to your questions.  Many countries allow foreigners, or specifically in your case and mine, Canadians to purchase property - some of those have restrictions on the type and amount of property a foreigner can purchase  - while others do not permit the sale of property to foreigners (or to those who are not resident).

You would have to research each country on its own to understand all the possibility and nuances of purchasing property there.

Account Closed · Answer

Did some more digging, I guess the fact is, if you want to invest in another country, get in contact with a international real-estate attorney/local real-estate attorney in that country, who has experience with foreign buyers.  You'll have to shop around for a good attorney, but once you do, you'll get a good understanding of the laws and regulations in that country.

In conclusion, pick a country to invest in(learn as you go, you don't have to learn them all at once), do your homework on finding a good international real-estate attorney, and go from there.  If you can't invest for whatever reason, then move on.

Just a little summary of what I've learned :)

David Faulkner · Answer

I have some nice turnkey properties in N. Korea you should take a look at buying ... cash flow is excellent there ;)

Possible, yes; advisable, no. Start RE investing in your own backyard. If you don't like the REI opportunities in your back yard, wait until the market changes, switch up your strategy, or change the location of your backyard. You need trusted boots on the ground to invest anywhere, and the safest, most trusted boots are your own. My humble opinion, having invested both locally and from a far for the last 12 years.

Roy N. · Answer

Samuel,

It's literally all over the map.  You will find things from generation leases as Ali described above (where you own the improvements, but not the underlaying land) to "investor citizens" (see St. Kitts) to a prohibition on foreign ownership in parts or all of a country (i.e. In Saudi Arabia, foreigners are not allowed to own property in Mecca or Medina).

The Global Property Guide provides summary overviews of foreigner access to real estate for most countries.  It is a place one could start their research.

Eric Tait · Answer

An easy rule of thumb to get you started is that countries whose basis of law is based on British Common law usually do not have restrictions on foreigners owning land.

i.e.

UK, Australia, New Zealand, Hong Kong, British and US virgin Isles, The Caymen Islands, Belize, Canada (excluding Quebec which is Napoleonic law).

This list is of course not exhaustive, but it gives you a starting point.

Account Closed · Answer

@Roy N.

Wow you really surprised me with your quick response Roy, thanks for the answer!

I was hoping there would be some patterns or similarities between countries, but I guess it wouldn't be that easy.  So it comes down to good old fashioned homework eh?  Do you have any good resources for this?  I found a good general list here, but I'm open to any suggestions!

Samuel Sedore · Answer

I have been told that in many countries foreigner owners can buy property buy you don't legally own the land. Any truth to the that?

Ali Boone · Answer

The biggest and first thing you should always check in any country is whether or not foreign nationals can own properties in that country outright. If you can't, and all you can get is one of those 99 year lease things, that's when you want to be careful. But if you can own a property outright, where you live shouldn't matter after that.

Eric Tait · Answer

That's why I always say, and easy rule of thumb to get a person started, they can then narrow it down and get the individual nuances if they find a market that they like.

It's a very big world out there, just trying to narrow it down a bit.

Roy N. · Answer

Eric:

We've had this dance before. The above is not quite true.

Canada - Yes, Québec has the Napoleonic Code (as does Louisiana) but property can be purchased by foreigners pretty much the same as in the rest of the country ... except for PEI.  Prince Edward Island (PEI), being an island, restricts ownership of certain property classes to anyone who is not a resident of the Province and restricts the amount of property a foreigner or Canadian from "the big island" can own.

Actually, restrictions on property ownership is quite common amongst island states/countries.

While it is fair to say purchasing real estate in countries which also operate under British Common Law will be more familiar to U.S.A., and Canadian, citizens, you really do need to do your homework on a per-country (and per state/province/territory within that country) basis.

Can you buy real-estate in any country?

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