To Rent, or to Purchase, That is the Question

Moving abroad is a very complicated problem. It is extremely hard for a non-specialist to evaluate all the opportunities that the residential market of the scarсely picked location may suggest.

We have prepared some information that will just give you a clue on what some mostly sought after countries can suggest.

Purchasing a property abroad

Evaluate the housing prices of the chosen market

First, you need to fully understand the price range of properties in the selected country. You will also have to evaluate the opportunities of your budget and find out all the possible additional costs and expenses.
The property prices in most countries have surged over the last few years, despite the pandemic. It is a worldwide trend. 
According to the data, provided by Eurostat, house prices in the EU have increased by 10%  in 2021. 

Annual changes in house prices in popular EU countries (Q4 2020 - Q4 2021):

• Belgium + 6.1
• Bulgaria +9.4
• Czech Republic +25.8%
• Cyprus -5.3%
• Croatia +9.1%
• Estonia +20.4%
• Germany +12.2%
• Hungary + 19.5%
• Italy +4.0%
• Ireland + 13.9%
• Latvia + 16.5%
• Malta + 4.5 %
• Netherlands +18.7%
• Poland +12.1%
• Portugal +11.6%
• Romania +7.5%
• Spain +6.3%
• Slovenia +15.7%
• Finland +3.9%
• France +7%

For example, Germany is experiencing a tremendous rise in prices for building materials and a shortage of supply on the market. These two factors make it almost impossible to purchase affordable housing in the country.

By the way, the British Internet portal Investing Review has published a rating of the most affordable countries in the world for buying a home. 

 Discover the mortgage lending opportunities

It is always easier to purchase a new home abroad when you have sufficient funds to pay the value of the property in full.

And it is not only the issues of the red tape and time. The process of getting a mortgage approved may last weeks and even months.

In most countries, there are no direct laws or rules preventing foreign citizens from buying property and taking out a loan to finance part of the purchase. But mortgage lenders often regard non-resident borrowers as higher risk clients.

EU anti money laundering directives put high pressure on financial institutions. Recently, the requirements for submitted documents are extremely high. Banks pay close attention to the verification of the clients’ financial good standing.

Formally, there are no obstacles for obtaining a mortgage as a foreigner in Italy. However, in 95% of cases, banks reject loan applications from applicants without a permanent residence permit in the country. It is much more difficult to check their financial viability and the origin of funds.

On the other hand, mortgage lenders in some countries offer an array of mortgage products for foreign investors. Being a foreigner may even turn out to be beneficial. For example, foreign borrowers in Spain have an advantage – they do not need a loan guarantor.

The biggest difference between residential and non-residential loans is the maximum loan-to-value (LTV) that banks will allow. Residents can generally borrow up to 80% of the property’s assessed value. Non-residents are limited to about 50-60% LTV, depending on the mortgage type.

For example, in Spain the maximum requested loan amount for a foreigner rarely exceeds 60% of the property value. And the amount will be based on the bank assessor’s valuation of the property rather than the price you pay. 

German banks are more likely to approve the loan amount of 50% for non-residents.

The requirements for non-residents may also implement additional costs.

When lending to foreigners, French banks often require to open an account and a deposit  an amount equal for several monthly payments, ideally - for six months.

Moreover, it is also worth mentioning that lenders often higher mortgage rates for non-resident applicants.

In addition to the monthly instalments, there will be some expenses involved in taking a home loan. So, it is important to remember that there are several other important miscellaneous expenses which you should factor into your financial plan.

The most popular ones:

• The processing fee is included as a part of your home loan application and is non-refundable regardless of whether your loan is approved or not.
• Appraisal expenses. You will have to pay for the property to be valued by one of their appointed valuation companies
• Mortgage insurance. The requirement to obtain insurance that it will cover you in the event of a sudden loss of earnings is obligatory in most of the banks.

Check out current laws and regulations

Please remember to study current laws and regulations regarding the acquisition of properties by overseas buyers in the chosen destination. Some countries have restrictions on locations and property types that foreigners cannot purchase.

For example, in Finland foreign residents will need to obtain permission to buy real estate. The new legislation ensuring national security in land use and real estate ownership applies to properties located throughout Finland. Foreigners are restricted from acquiring property in the Province of Aland. 

But! There is no requirement to seek permission to buy shares in a housing company, which is how most apartments and some other residential properties are owned in the country.

In the UAE, foreigners can only own housing in certain territories – in specially designated investment zones or «freehold zones». Several non-freehold zones are open for purchase only to GCC nationals. There are also “leasehold” areas where international buyers can purchase a long lease on the land and property for up to 99 years.

It is recommended to work with an expert that will help you out with complicated local laws, taxes and will explain all additional costs and expenses.

Residential properties for sale in different countries:

500 000 €

Villa in Thessaloniki, Greece

310 sq.m 7 6 3

Residence

For sale a 3-storey villa with an area of 310 sq.m in the suburbs of Thessaloniki. The ground floor consists of 2 bedrooms, one shower room, 2 storerooms. The first floor consists of one bedroom, a living room, one kitchen, one shower room, one bathroom. The second floor consists of 3 bedrooms, one bathroom. The object has a fireplace, heating....

GREKODOM DEVELOPMENT A.E

23 000 000 €

Villa in Cap d'Ail, France

506 sq.m 7 7

For sale a mansion in Cap d'Ail with panoramic sea views, a 5-minute drive to Monaco. The mansion was completely renovated (in 2016); the decoration is made with the latest high-quality materials. The villa has preserved its historical original appearance of the early 20th century and has a rich history associated with the Russian ballerina...

SERVICEAZUR

4 900 000 €

House on Costa del Sol, Spain

722 sq.m 5 5 5

Residence

High-quality villa in La Zagaleta. It is built to the highest standards with a large number of additional services.The windows of the apartments have a South-west and west orientation with spectacular mountain views. Cozy living room with high ceilings and fireplace, large, open plan fully equipped kitchen (Siematic), TV and living room with...

ESTATE BARCELONA

1 400 000 €

Villa in Limassol, Cyprus

470 sq.m 4 4

Residence

Real estate development of a modern residence consisting of four floors. There is one basement with an indoor gym, a kitchen, two living rooms, four bedrooms, four bathrooms and a kitchen on the top floor. The new residence will be located in the fantastic area of Agios Athanasios, a few minutes from the highway leading to cities such as Paphos,...

BLUE SKY HOUSES

1 450 000 €

Apartment in Herceg-Novi, Montenegro

181 sq.m 4 3 2

This secluded 181 sqm property will be the perfect place to enjoy a balanced and peaceful life, spending most of the time outside, enjoying the Adriatic sun and fresh air. Located on the third floor in a low-rise Mediterranean building in the village, this property has a luminous dining room united with an open-space kitchen, overlooking the...

Portonovi

131 000 €

Flat in Alanya, Turkey

63 sq.m 2 1

Residence

The facility is located in the TOSMUR district, >in one of the central districts of ALANYA. Tosmur microdistrict is built on the site number 215/ allotment of land 1, consists of 2 blocks. There are 47 apartments in total, in block A 27 and in block B 20. The plot area is 1785 m2 . Distance to the sea is 550 m. Supermarkets such as...

Renaissance Estate

118 800 €

Flat in Alanya, Turkey

55 sq.m 2 1

Residence

It is located on the 3rd floor. Conveniences: -Outdoor swimming pool -Indoor swimming pool -Children's pool -Fitness - Hamam -Sauna -Children's outdoor and indoor areas -Jacuzzi - Wi-Fi -Cafeteria -Indoor and outdoor parking

Renaissance Estate

625 200 €

Penthouse in Kestel, Turkey

300 sq.m 8 6

Residence

Spacious duplex in a beautiful area.Everything you need is within walking distance.A bright, beautiful apartment with spacious bedrooms, a living room, 4 bathrooms and a private sitting area.Thanks to its special location and excellent features that complement a comfortable life, it gives you and your loved ones the key to a beautiful life.

Renaissance Estate

700 000 €

House in Thessaloniki, Greece

170 sq.m

Residence

For sale 0-storey house of 170rs in Thessaloniki. There is a fireplace. The owners will be leaving the furniture with the sale. Extras included with the property: garden.

Mercury Group

2 000 000 €

House in Limassol, Cyprus

472 sq.m 5 4 4

Residence

For sale 2-storey villa of 472rs in Paphos. The ground floor consists of living room with kitchen, one kitchen, one WC, one storeroom. The first floor consists of 4 bedrooms, 4 bathrooms. There are solar panels for water heating, air conditioning, heating and a barbecue area. The owners will be leaving the furniture with the sale. Building has a...

Mercury Group

1 490 000 €

House in Riga, Latvia

291 sq.m 5 4 3

A historic private house for sale at 6 Emilia Melngaila Street, in the quiet center of Riga. The building was built in 1934 by the order of the outstanding Latvian surgeon Pavils Mucenieks, and its author is Nikolas Nords, an Art Nouveau architect. - land plot of 300 sq.m - a three-storey private house with an area of ​​291.4 sq.m. -...

Metropolis Riga

350 000 €

House in Jurmala, Latvia

207 sq.m 4 3 2

Residence

The house is located in Jūrmala, Vaivaru district, in the territory of private house construction. A few minutes' walk from the beach (500m). The territory is fenced. Automatic gate for entry. Small (940 m2) landscaped area with ornamental plantings, fruit trees and lawn, paved footpaths and parking in front of the house. There is a separate...

Habita International Estates Ltd

577 800 €

Flat in Opatija, Croatia

151 sq.m 3 3

A new modern exclusive project near Opatija! A residential building with only three apartments, located a few kilometers from the center of Opatija and 2 km from the sea. Exclusive apartment S2, located on three floors. On the ground floor there is an entrance hall, a corridor, 3 bedrooms and 2 bathrooms. A staircase leads to the second...

ALMA DOM

440 000 €

Flat in Limassol, Cyprus

90 sq.m 2 1 1

Residence

For sale under construction apartment of 90rs in Limassol. The apartment is situated on the 2nd floor. consists of one bedroom, living room with kitchen, one bathroom. Flat has interior layout. The property is subject to VAT. Extras included with the property: parking space, garden. Luxury 1 bedroom apartment located in a very demanded area near...

Mercury Group

700 000 €

Townhouse in Larnaca, Cyprus

260 sq.m 3 1

Residence

BLUE SKY HOUSES

165 000 €

Flat in Alanya, Turkey

120 sq.m 3 2

Residence

Number of floors 11. It is located on the 2nd floor. South-western north facade. The building is 8 years old. 2 large balconies. Features: Outdoor Swimming pool, Elevator, Camellia, Barbecue, Generator, Doorman, Central Satellite, 24/7 CCTV camera.

Renaissance Estate

79 495 €

Flat in Batumi, Georgia

60 sq.m 3 2 1

Remote Transaction Cryptocurrency payment

Apartment with 2 bedrooms of 60m2. Near all the necessary urban infrastructure, shops, pharmacies, medical institutions, cafes, restaurants, shopping centers. Documents are ready for registration, assistance at all stages. Call and write to the apartments at any time, we will pick up what you need!

RB - Real Estate

32 175 €

Apartment at Sunny Beach, Bulgaria

60 sq.m 2 1

#32787042 A large studio is available for sale in complex "Sunny Day 5" in Sunny Beach. Price: 32 500 euro Location: Sunny Beach Rooms: 2 Total area: 59.50 sq. M. Floor: 4/4 Maintenance payment: 580 euro Sunny Day 5-Act 15 We offer to your attention a studio with a total area of 59.50 sq. M., in the complex "sunny day 5". The...

OAZIS REALTY

166 000 €

Flat in Thessaloniki, Greece

106 sq.m 4 3 1

An apartment of 106 sq.m is for sale in Thessaloniki. The apartment is located on the sixth floor and consists of 3 bedrooms, a living room, one kitchen, one shower room, one bathroom, one pantry. There is an elevator in the building.

GREKODOM DEVELOPMENT A.E

458 265 €

Apartment in Dubai, UAE

64 sq.m 2 1 2

Residence Online Viewing Remote Transaction Cryptocurrency payment

City Walk Northline - a collection of stylish apartments near The Green Planet and Central Park Enjoy stylish interiors and stunning views of the Dubai skyline at the new City Walk Northline by Meraas. The three-building complex, located in the prestigious City Walk community, features a collection of 304 apartments ranging from 1 to 3 bedrooms....

Spiridon Real Estate

See more 89854 similar properties

Renting a property abroad

Estimate the cost of living

Renting your new housing in a new country involves a lot of considerations and calculations.
It is important to compare your income, the rental rate you are going to pay, as well as utilities and any other additional costs that may occur.

According to an analysis carried out by Immowelt, the rental payments for a new apartment in Munich or Berlin exceed  40% of the family's net income.

The Cost of Living Index provided by Numbeo proves that Israel is a very expensive country and ranks it in the top 10 in the world with an index of 88.05.

Another expat friendly destination, Cyprus, has an index of 59.03, while Turkey’s rating is only 28.31.

It is advisable to check what is included in the rental agreement and how much deposit you will have to pay upfront.

In Turkey the first month’s rent is usually given on the spot The tenant is also expected to pay a deposit to be allocated for possible damages. If renting seasonally, some landlords may ask for 5 or 6 months’ rent in order not to collect the money every month.

Compare the rental rates and administrative fees

Make sure to explore varying administrative fees rental rates in different countries.
The Housing Anywhere International Rent Index report for Q1 2022 shows that prices on the European residential rental market keep surging. Q1 2022 shows an average 14.5% YoY increase for all property types in most Europeаn cities, resulting in prices surpassing the pre-pandemic level.

Among major European cities, there are only few places left where the rates do not exceed a thousand euros - analysts noted only Spanish Valencia and Italian Turin.

It’s important to mention that some countries have rent control legislation designed to keep prices affordable.

Berlin recently voted for the nationalization of housing because the tenants are frustrated with extremely expensive rental rates. Over the past five years, the growth of rental rates in some cities has exceeded 30%.

Spainish government has passed The Ley por el Derecho a Vivienda (“Right to Housing Law”) that will allow regional governments to impose rent caps for apartments owned by landlords (with 10 properties or more) in areas deemed to be “stressed markets.” It also includes tax penalties for owners who leave multiple units unrented for long periods.

The total amount of taxes when buying properties in some destinations may also be very high, making renting the more attractive option than buying.

For example, if you purchase a villa in Cyprus for €300,000 on the secondary market, you may pay around €20,000 in taxes.

It is therefore essential to conduct your own research and estimate your financial possibilities, budget strategy and long-term life opportunities.

Residential properties for rent in different countries:

2 600 € per week

Apartment in Cannes, France

130 sq.m 4

Five-room luxury apartment in the center of Cannes on 2 levels (duplex): living room, open kitchen and 2 bedrooms, each with its own shower, on the lower level, 2 bedrooms, both with shower, and one with Jacuzzi, on the upper level. After renovation work, they are in excellent condition. Internet, air conditioning, fully equipped kitchen. With a...

SERVICEAZUR

5 850 € per week

Apartment in Antibes, France

130 sq.m 3 4

4-room apartment of 130 sq.m. in Art Nouveau style in a gated residence of 4 apartments. 1st floor of a 2-storey 2-apartment new house on Cap d'Antibes (built in 2008) 50 m. from the beach. In excellent condition. There is a private garden of 550 sq.m, a terrace and a swimming pool for residents of the residence. Internet, safe, alarm system.

SERVICEAZUR

5 200 € per week

Villa in Theoule-sur-Mer, France

280 sq.m 4 4

Modern style villa in Teul with remote sea view. With an area of 280 sq.m. the villa includes: a large living room with a kitchen and a dining room, a master bedroom with a terrace and a bathroom, a small room for a child, and 2 more bedrooms with bathrooms. There is also a separate apartment for the staff. In front of the house on a terrace of...

SERVICEAZUR

7 410 € per week

Villa in Cannes, France

200 sq.m 6 5

Elegant and comfortable villa (200 sq.m.), located in the hills of Super Cannes / Super Cannes in the prestigious quarter of Californie. From the terraces surrounding the house, there is a wonderful view of the historic quarter of Cannes Le Suquet and the Esterel mountain range. A well-maintained garden, a 17 m long swimming pool are the...

SERVICEAZUR

Price on request

Villa on Cap-Ferrat, France

500 sq.m 5 4

Rent a villa on Cap Ferrat with beautiful sea views, a 15-minute walk to the beach. Spacious villa on 3 levels with an area of 500 sq.m. On the main level: living room with fireplace and access to the terrace, dining room and kitchen, master bedroom with bathroom. On the lower level: 3 bedrooms, 2 bathrooms and a study. On the ground level there...

SERVICEAZUR

4 550 € per week

Apartment in Cannes, France

178 sq.m 4 4

Apartments for sale and rent in a gated small residence (about 30 apartments) in Cannes in the prestigious La Californie quarter, 10 minutes from the famous Croisette and 5 minutes from the beaches. The total area is 178 sq.m. with a large terrace of 80 sq.m. The residence is surrounded by a park, on the territory of which there is a tennis...

SERVICEAZUR

2 000 € per month

Flat in Jurmala, Latvia

94 sq.m 3 2

Apartment in the new project "AdmirāļU osta". The apartment is for rent with full finishing, built-in kitchen and equipped bathrooms. The apartment consists of a living room combined with a kitchen, two bedrooms, two bathrooms, a hall and two balconies. The house has an underground Parking, as well as a utility room. The project has its own...

VIP Real

195 € per day

Apartment in Fethiye, Turkey

70 sq.m 2 2 2

Duplex apartment (seashell36) is located on the second and attic floor 2 bedrooms (1 of them with its own bathroom) Comfortable accommodation for 5 people (1 double bed, 2 single beds and 1 sofa bed) 2 bathrooms Kitchen, living room Balconies, attic balcony Swimming pools and children's pools (in the complex) The house opposite the...

Lebrentals

900 € per month

Flat in Avsallar, Turkey

60 sq.m 2 1

One-bedroom apartment in one of the best complexes in the Avsallar area - Orion 7! These apartments are perfect for relaxing with home comfort in a complex with hotel infrastructure. The modern 1+1 apartment consists of a living room with an open kitchen area, a bedroom, a bathroom and a large balcony. The apartment is fully equipped with...

Ataberk estate

1 200 € per month

Flat in Alanya, Turkey

65 sq.m 2 1 1

Online Viewing Remote Transaction Cryptocurrency payment

In the heart of Alanya, in a luxury complex, beautiful apartments are offered for rent. The residential complex is located a few steps from the world-famous Cleopatra beach and everything that Alanya has to offer: historical sights, restaurants, cafes, bars, shops and much more. The apartment consists of a living room combined with an American...

Alanya Brand Group

600 € per month

Flat in Alanya, Turkey

50 sq.m 2 1 1

Online Viewing Remote Transaction

Rent Alanya Fortress (Kale) with a fabulous view of the sea! The green garden is ecologically clean air. The apartment is for rent for a year and also for a short period. A residence Permit Is Issued Included electrician, water, Internet, For more information, please contact us! +90 544 852 46 07.

Demirkaya inşaat&Telatiye Property

1 100 € per month

Flat in Alanya, Turkey

140 sq.m 2

RestProperty

800 € per month

Flat in Alanya, Turkey

45 sq.m 2 1 1

If you are interested in renting a two-room apartment in a new luxury residential complex with hotel infrastructure, then this offer will definitely interest you! The residence is located in the Avsallar area at a distance of 900 meters from the sea. This area is famous for its quiet, peaceful atmosphere, remoteness from the city noise and...

Ataberk estate

1 500 € per month

Apartment in Konakli, Turkey

110 sq.m

Why it is worth renting: Location: The location of the apartment is located in the Konakli area near the sea, just 400 meters from the sea coast. Konakli is a cozy corner on the Mediterranean coast in Turkey, which attracts the attention of tourists with its unique atmosphere. Located within Alanya, this Turkish resort gives you the opportunity...

Mayalanya Group

99 999 € per month

House in Polski Izvor, Bulgaria

135 sq.m 5 3 2

New house 12 km from Burgas, Bulgaria! We are selling a new house with an area of 135 sq.m. in the village of Polski Izvor. The property has two floors and the whole roof is a large panarom terrace. The whole house and the ceilings are insulated, and the outside is tiled. The ground floor has a living room dining kitchen in one and a large...

BulgarianESTates Ltd.

650 € per month

Townhouse in Alanya, Turkey

110 sq.m 3 2 2

Online Viewing Remote Transaction

If you are tired of the hustle and bustle of city life and are looking for a quiet corner for living or a comfortable stay, but at the same time you want to be able to quickly get to the city center, this offer is especially for you! 3-room furnished duplex with sea view is part of a double villa in the elite area of Tepe for long-term rent....

Alanya Property Sales

1 870 € per month

Flat in Antalya, Turkey

150 sq.m 3 2

Apartment 3+1 for rent , Liman district, Antalya. There is everything you need for a comfortable stay , air conditioning , a cozy kitchen , a spacious living room , a balcony , 2 bathrooms. The complex has a large swimming pool , security.

ANTREAL

750 € per month

Flat in Alanya, Turkey

90 sq.m 3 2 1

Fully furnished apartment for rent in Mahmutlar, Alanya, Turkey. 3rd floor, with an open sea view. The apartment is rented for a year There is an elevator and a swimming pool.

IRLANYA HOMES

Price on request

Apartment in Bijela, Montenegro

93 sq.m 2

For long-term rent we offer an apartment with 2 bedrooms in the village of Bijela, Herceg Novi. The total area is 93 sq.m., of which 79 sq.m. residential and 14 sq.m. terrace with a gorgeous sea view. The apartment has all the necessary furniture and household appliances, common parking in the yard. The nearest supermarket, post office, bus...

Antarex

138 € per week

Apartment in Nesebar, Bulgaria

40 sq.m 1 1

Aurora Plus offers you a cozy, acquired studio in the village of Odisey, Nessebar. The complex is located in a quiet area, 300 meters from the sea. In the immediate vicinity there are shops, establishments, ventilation on public transport. Studio and complete equipment with everything you need for your full cost. Terms of treatment: Uni - 550...

Avrora Plyus

See more 1420 similar properties

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