Investing Abroad
International Real Estate & Emerging Markets
All Markets — Individual Breakdowns
Dubai — Freehold Zones (UAE)
40+ designated freehold zones where any foreign national can own property outright. Since Feb 2026, mortgaged properties qualify for the Golden Visa AED 2M threshold.
Ownership: Full freehold — permanent, heritable title
Eligible nationalities: 180+
Key freehold zones: Dubai Marina, Downtown Dubai, Palm Jumeirah, JVC, Business Bay, JBR, MBR City
Transfer fee: 4% DLD fee (Dubai Land Department) + admin fees ~$540
Golden Visa: AED 2M+ property → 10-year renewable residency
Average yields: 5–8% gross annually
Capital gains tax: 0%
Verify ownership: Dubai Land Department REST app
Source: dubailand.gov.ae
Ownership: Full freehold — permanent, heritable title
Eligible nationalities: 180+
Key freehold zones: Dubai Marina, Downtown Dubai, Palm Jumeirah, JVC, Business Bay, JBR, MBR City
Transfer fee: 4% DLD fee (Dubai Land Department) + admin fees ~$540
Golden Visa: AED 2M+ property → 10-year renewable residency
Average yields: 5–8% gross annually
Capital gains tax: 0%
Verify ownership: Dubai Land Department REST app
Source: dubailand.gov.ae
40+ freehold zones0% capital gains5–8% yield
Abu Dhabi — Investment Zones
Abu Dhabi opened designated investment zones to foreign freehold ownership, following Dubai's lead.
Key areas: Yas Island, Saadiyat Island, Al Reem Island, Al Maryah Island
Ownership: Full freehold in designated zones
Transfer fee: 2% (lower than Dubai's 4%)
Golden Visa: Same AED 2M threshold applies across UAE
Average yields: 5–7% gross
Capital gains: 0%
Key differentiator: More conservative luxury market; fewer speculative plays vs. Dubai
Source: abudhabi.gov.ae
Key areas: Yas Island, Saadiyat Island, Al Reem Island, Al Maryah Island
Ownership: Full freehold in designated zones
Transfer fee: 2% (lower than Dubai's 4%)
Golden Visa: Same AED 2M threshold applies across UAE
Average yields: 5–7% gross
Capital gains: 0%
Key differentiator: More conservative luxury market; fewer speculative plays vs. Dubai
Source: abudhabi.gov.ae
2% transfer fee0% capital gains5–7% yield
Bali / Indonesia — Leasehold Only
Indonesia prohibits foreign freehold ownership of land. The 2023 property law explicitly banned nominee arrangements.
Freehold for foreigners: ❌ Illegal
Nominee arrangements: ❌ Illegal since 2023 — criminal penalties
Legal path — Leasehold: Max 70 years (30 + 20 + 20 renewals)
Legal path — PT PMA company: Foreign-owned company can hold property; IDR 25–50M setup (~$1,500–$3,000)
Second Home Visa route: IDR 2B (~$125K) deposited in Indonesian bank grants 5–10 yr visa
Rental yields: 7–11% (Canggu, Seminyak, Ubud)
Average entry price (villa): $150,000–$400,000
Source: idigov.com
Freehold for foreigners: ❌ Illegal
Nominee arrangements: ❌ Illegal since 2023 — criminal penalties
Legal path — Leasehold: Max 70 years (30 + 20 + 20 renewals)
Legal path — PT PMA company: Foreign-owned company can hold property; IDR 25–50M setup (~$1,500–$3,000)
Second Home Visa route: IDR 2B (~$125K) deposited in Indonesian bank grants 5–10 yr visa
Rental yields: 7–11% (Canggu, Seminyak, Ubud)
Average entry price (villa): $150,000–$400,000
Source: idigov.com
Leasehold only70-yr max lease7–11% yield
Medellín, Colombia
Full freehold ownership for foreigners with no restrictions — one of LatAm's most investor-friendly markets.
Ownership: Full freehold, permanent
Entry price: $95,000–$150,000 for 1BR in El Poblado
Neighborhoods: El Poblado (expat hub), Laureles (local feel), Envigado (quiet, cheaper)
Rental yields: 6–10% gross
Capital growth: ~8–12%/yr avg (2020–2025)
Purchase process: Notary-based; USD transactions common
Capital gains tax (foreigners): 10% on gains from properties held >2 years
Transaction costs: ~3–4% total (notary, registration, taxes)
Source: nomads.com
Ownership: Full freehold, permanent
Entry price: $95,000–$150,000 for 1BR in El Poblado
Neighborhoods: El Poblado (expat hub), Laureles (local feel), Envigado (quiet, cheaper)
Rental yields: 6–10% gross
Capital growth: ~8–12%/yr avg (2020–2025)
Purchase process: Notary-based; USD transactions common
Capital gains tax (foreigners): 10% on gains from properties held >2 years
Transaction costs: ~3–4% total (notary, registration, taxes)
Source: nomads.com
Full freehold$95K–$150K entry6–10% yield
Panama City, Panama
Panama's USD economy eliminates foreign exchange risk. Full freehold ownership for all nationalities.
Ownership: Full freehold
Currency: USD (Balboa pegged 1:1 to USD) — zero FX risk
Entry price: $120,000–$200,000 for 1BR in Marbella/Punta Pacifica
Rental yields: 5–7% gross
Transaction costs: ~4–5% (legal, transfer tax, registration)
Capital gains tax: 10% on gain or 3% of sales price, whichever is greater
Panama Pensionado: 10%+ discounts on services for retirees
Tax on rental income: 6.6% flat (territorial — foreign income not taxed)
Source: ntltrust.com
Ownership: Full freehold
Currency: USD (Balboa pegged 1:1 to USD) — zero FX risk
Entry price: $120,000–$200,000 for 1BR in Marbella/Punta Pacifica
Rental yields: 5–7% gross
Transaction costs: ~4–5% (legal, transfer tax, registration)
Capital gains tax: 10% on gain or 3% of sales price, whichever is greater
Panama Pensionado: 10%+ discounts on services for retirees
Tax on rental income: 6.6% flat (territorial — foreign income not taxed)
Source: ntltrust.com
USD economy$120K–$200K entry5–7% yield
Tbilisi, Georgia
Full freehold, no FX friction, 0% stamp duty, and one of the lowest entry prices of any capital city with a territorial tax regime.
Ownership: Full freehold (agricultural land restricted for foreigners)
Entry price: $40,000–$80,000 for 1BR in central Tbilisi
Prime neighborhoods: Vake, Saburtalo, Old Town, Vera
Rental yields: 8–12% gross
Property transfer tax: 0% (no stamp duty in Georgia)
Registration: 1 day via napr.gov.ge online portal
Capital gains tax: 5% for individuals; 0% if held >2 years
Tax on rental income: 20% personal income tax on GE-sourced rent
Source: napr.gov.ge
Ownership: Full freehold (agricultural land restricted for foreigners)
Entry price: $40,000–$80,000 for 1BR in central Tbilisi
Prime neighborhoods: Vake, Saburtalo, Old Town, Vera
Rental yields: 8–12% gross
Property transfer tax: 0% (no stamp duty in Georgia)
Registration: 1 day via napr.gov.ge online portal
Capital gains tax: 5% for individuals; 0% if held >2 years
Tax on rental income: 20% personal income tax on GE-sourced rent
Source: napr.gov.ge
Full freehold$40K–$80K entry8–12% yield
Asunción, Paraguay
Paraguay pairs among the world's lowest real estate entry prices with a territorial tax system and one of LatAm's lowest transaction costs.
Ownership: Full freehold
Entry price: $30,000–$70,000 for 1BR in central Asunción
Rental yields: 7–10% gross
Foreign income tax: 0% (territorial)
Property transaction costs: ~2–3% (very low)
Capital gains tax: 10% on gains
Residency bonus: Investor Pass ($150K–$200K investment) → permanent residency, 1 visit/3 yrs
Source: goparaguay.co
Ownership: Full freehold
Entry price: $30,000–$70,000 for 1BR in central Asunción
Rental yields: 7–10% gross
Foreign income tax: 0% (territorial)
Property transaction costs: ~2–3% (very low)
Capital gains tax: 10% on gains
Residency bonus: Investor Pass ($150K–$200K investment) → permanent residency, 1 visit/3 yrs
Source: goparaguay.co
Full freehold$30K–$70K entry0% foreign income
Montevideo, Uruguay
Uruguay is LatAm's most stable, rule-of-law country. Full freehold ownership with a 10-year tax holiday for new residents.
Ownership: Full freehold
Entry price: $100,000–$180,000 for 1BR in Pocitos/Punta Carretas
Rental yields: 4–6% gross
Tax holiday: 10-year exemption on foreign income for new tax residents
Transaction costs: ~4–5%
Capital gains tax: 12% IRPF
Rule of law: Rated #1 in LatAm for governance and press freedom
Source: fragomen.com
Ownership: Full freehold
Entry price: $100,000–$180,000 for 1BR in Pocitos/Punta Carretas
Rental yields: 4–6% gross
Tax holiday: 10-year exemption on foreign income for new tax residents
Transaction costs: ~4–5%
Capital gains tax: 12% IRPF
Rule of law: Rated #1 in LatAm for governance and press freedom
Source: fragomen.com
Full freehold10-yr tax holiday$100K–$180K entry
Mexico City — Roma / Condesa
Mexico City's Roma and Condesa neighborhoods are the nomad capital of LatAm, with strong rental demand and USD-friendly pricing.
Ownership: Full freehold (fideicomiso bank trust required in restricted zones near coastlines — CDMX is NOT restricted)
Entry price: $150,000–$300,000 for 1BR in Roma Norte/Condesa
Rental yields: 5–8% gross (Airbnb yields higher but increasingly regulated)
Transaction costs: ~4–6%
Capital gains tax: Foreigners may owe Mexican CGT + US CGT (Foreign Tax Credit applies)
Note: CDMX passed short-term rental restrictions in 2024 — check local rules
Source: nomads.com
Ownership: Full freehold (fideicomiso bank trust required in restricted zones near coastlines — CDMX is NOT restricted)
Entry price: $150,000–$300,000 for 1BR in Roma Norte/Condesa
Rental yields: 5–8% gross (Airbnb yields higher but increasingly regulated)
Transaction costs: ~4–6%
Capital gains tax: Foreigners may owe Mexican CGT + US CGT (Foreign Tax Credit applies)
Note: CDMX passed short-term rental restrictions in 2024 — check local rules
Source: nomads.com
Full freehold CDMX$150K–$300K entry5–8% yield
Lisbon & Porto, Portugal
Portugal offers EU residency through its D7/D8 visa, with access to NHR tax benefits and strong real estate appreciation.
Ownership: Full freehold (EU property law)
Entry price Lisbon: €280,000–€500,000 for 1BR (central)
Entry price Porto: €180,000–€320,000 for 1BR
Rental yields: 3–5% gross (lower due to high capital appreciation)
Capital appreciation: 8–12%/yr avg (Lisbon 2020–2025)
Transaction costs: ~6–8% (IMT property transfer tax + stamp duty + notary)
Rental income tax: 28% flat (or aggregate with income tax)
Source: fragomen.com
Ownership: Full freehold (EU property law)
Entry price Lisbon: €280,000–€500,000 for 1BR (central)
Entry price Porto: €180,000–€320,000 for 1BR
Rental yields: 3–5% gross (lower due to high capital appreciation)
Capital appreciation: 8–12%/yr avg (Lisbon 2020–2025)
Transaction costs: ~6–8% (IMT property transfer tax + stamp duty + notary)
Rental income tax: 28% flat (or aggregate with income tax)
Source: fragomen.com
EU freehold3–5% yieldStrong appreciation
Thailand — Condo Freehold
Foreigners can own condominium units freehold, subject to the 49% aggregate foreign-ownership quota per building; land ownership is not permitted.
Ownership: Condos freehold (49% per-building foreign quota); no direct land ownership
Bangkok gross yield: ~6.05%
Transfer fee: 2% for foreigners
LTR "Wealthy Global Citizen": $500K invested in Thailand + $1M in assets
Source: Condominium Act guide · Global Property Guide
Ownership: Condos freehold (49% per-building foreign quota); no direct land ownership
Bangkok gross yield: ~6.05%
Transfer fee: 2% for foreigners
LTR "Wealthy Global Citizen": $500K invested in Thailand + $1M in assets
Source: Condominium Act guide · Global Property Guide
Condo freehold OKNo land ownership~6% Bangkok yield
Indonesia — Hak Pakai Right-of-Use
Foreigners can own apartments/strata via Hak Pakai (right-of-use, 30 yrs extendable) under GR 18/2021.
Ownership: Hak Pakai use-right (30 yrs extendable); no freehold land
Jakarta gross yield: ~11.17% avg (prime CBD ~4.3%)
Capital gains tax: 5%; property tax ~0.5%
Second Home Visa: IDR 2 billion (~$130K) deposit or $1M property
Source: Global Property Guide · Emerhub Second Home Visa
Ownership: Hak Pakai use-right (30 yrs extendable); no freehold land
Jakarta gross yield: ~11.17% avg (prime CBD ~4.3%)
Capital gains tax: 5%; property tax ~0.5%
Second Home Visa: IDR 2 billion (~$130K) deposit or $1M property
Source: Global Property Guide · Emerhub Second Home Visa
Hak Pakai use-rightHigh Jakarta yield2B IDR 2nd home
Spain — Freehold (Golden Visa Gone)
Foreigners can own freehold property, but the Golden Visa was abolished 3 April 2025 — property no longer grants residency.
Ownership: Full freehold; foreign buyers ~13.82% of purchases
Yields: Madrid 5.04%, Barcelona 7.17%, national avg 5.43%
Transfer tax (ITP): 6–10% by region (Madrid 6%, Valencia 10%→9% Jun 2026)
Golden Visa: ABOLISHED April 2025 — DNV is now the primary route
Source: Global Property Guide · Golden Visa abolished
Ownership: Full freehold; foreign buyers ~13.82% of purchases
Yields: Madrid 5.04%, Barcelona 7.17%, national avg 5.43%
Transfer tax (ITP): 6–10% by region (Madrid 6%, Valencia 10%→9% Jun 2026)
Golden Visa: ABOLISHED April 2025 — DNV is now the primary route
Source: Global Property Guide · Golden Visa abolished
Freehold OKGolden Visa goneITP 6–10%
Greece — Golden Visa (Tiered)
Freehold ownership open to foreigners; the Golden Visa uses tiered thresholds by location.
Athens yield: ~5.52%
Golden Visa: €800K prime (Athens, Thessaloniki, Mykonos, Santorini, big islands); €400K other regions; €250K conversion/historic (all 120m² min)
Transfer tax: 3.09%
Source: Global Property Guide · BuyGreece Golden Visa 2026
Athens yield: ~5.52%
Golden Visa: €800K prime (Athens, Thessaloniki, Mykonos, Santorini, big islands); €400K other regions; €250K conversion/historic (all 120m² min)
Transfer tax: 3.09%
Source: Global Property Guide · BuyGreece Golden Visa 2026
€800k prime GV€250k conversion3.09% transfer
Croatia — Reciprocity Rule
Non-EU nationals can own property only where a reciprocity agreement exists with their home country.
Ownership: Non-EU only with reciprocity agreement (US qualifies)
Zagreb yield: ~4.72%
Transfer tax: 3%
Source: Global Property Guide · gov.hr RETT
Ownership: Non-EU only with reciprocity agreement (US qualifies)
Zagreb yield: ~4.72%
Transfer tax: 3%
Source: Global Property Guide · gov.hr RETT
Reciprocity rule~4.7% Zagreb3% transfer tax
Costa Rica — Freehold + Investor Visa
Foreigners can own freehold, except the 200m maritime zone (concession-only). Note the investor threshold change.
Ownership: Full freehold (except 200m maritime zone)
San José yield: ~8.35%
Transfer tax: 1.5% (Ley 6999)
Investor residency: $150K (Ley 9996) — incentive sunsets 14 Jul 2026 → reverts to $200K
Source: Global Property Guide · CR Immigration
Ownership: Full freehold (except 200m maritime zone)
San José yield: ~8.35%
Transfer tax: 1.5% (Ley 6999)
Investor residency: $150K (Ley 9996) — incentive sunsets 14 Jul 2026 → reverts to $200K
Source: Global Property Guide · CR Immigration
Freehold OK1.5% transfer$150k→$200k invest
Malaysia — Minimum Price Thresholds
Foreigners can buy above state minimum price thresholds; a flat 8% foreigner stamp duty applies from 1 Jan 2026.
Min purchase: KL/most states MYR 1M (~$247K); Selangor MYR 2M; Perlis MYR 500K
KL yield: ~4.93%
Foreigner stamp duty: Flat 8% from 1 Jan 2026
MM2H Silver: $150K fixed deposit + RM600K property
Source: Global Property Guide · 8% foreigner stamp duty
Min purchase: KL/most states MYR 1M (~$247K); Selangor MYR 2M; Perlis MYR 500K
KL yield: ~4.93%
Foreigner stamp duty: Flat 8% from 1 Jan 2026
MM2H Silver: $150K fixed deposit + RM600K property
Source: Global Property Guide · 8% foreigner stamp duty
MYR 1M min buy8% foreign duty~4.9% KL yield
Vietnam — 50-Year Leasehold
Foreigners get 50-year leasehold (one renewal), only in approved projects with per-building caps; cannot own land.
Ownership: 50-yr leasehold (one renewal), approved projects only; no land
Yields: Ho Chi Minh City 4.16%, Hanoi 3.54%, national avg 3.85%
Legal basis: Housing Law 2023
Source: Emerhub Vietnam · Global Property Guide
Ownership: 50-yr leasehold (one renewal), approved projects only; no land
Yields: Ho Chi Minh City 4.16%, Hanoi 3.54%, national avg 3.85%
Legal basis: Housing Law 2023
Source: Emerhub Vietnam · Global Property Guide
50-yr leaseholdNo land~4.2% HCMC
Turkey — Full Ownership + Citizenship
Foreigners may acquire full property ownership titles, and property investment can lead to citizenship.
Ownership: Full ownership titles registered at the land registry
Istanbul yield: ~8.17%
Citizenship by investment: $400K real estate, 3-year hold
Source: Invest in Türkiye · Global Property Guide
Ownership: Full ownership titles registered at the land registry
Istanbul yield: ~8.17%
Citizenship by investment: $400K real estate, 3-year hold
Source: Invest in Türkiye · Global Property Guide
Full ownership OK$400k citizenship~8% Istanbul
Market Comparison at a Glance
| City / Market | Ownership Type | 1BR Entry | Gross Yield | CGT |
|---|---|---|---|---|
| Dubai | Freehold | AED 550K–1.2M | 5–8% | 0% |
| Tbilisi | Freehold | $40K–$80K | 8–12% | 5% (0% after 2yr) |
| Asunción | Freehold | $30K–$70K | 7–10% | 10% |
| Medellín | Freehold | $95K–$150K | 6–10% | 10% (>2yr) |
| Panama City | Freehold | $120K–$200K | 5–7% | 10% or 3% sales |
| Montevideo | Freehold | $100K–$180K | 4–6% | 12% |
| Mexico City | Freehold | $150K–$300K | 5–8% | CGT varies |
| Lisbon | Freehold | €280K–€500K | 3–5% | 28% |
| Bali | Leasehold only | $150K–$400K | 7–11% | Variable |
Always verify local property law before purchasing. Foreigner ownership rules change. Bali/Indonesia is the clearest example — rules tightened significantly in 2023. Engage a local property attorney in every market before signing anything.