Today, investments in resort real estate are highly popular. The main reasons for this interest are the opportunity to receive income from renting out and using housing for their own vacation. Many people prefer to buy real estate abroad to enjoy the local color and at the same time have the opportunity to obtain citizenship. However, many people also buy housing in their country of residence.
Choosing a vacation property
Before purchasing a vacation property, it is important to determine your goals. This will determine the type of housing (apartment or private house) and its location. Let's consider a few popular countries where you can find housing by the sea.
Cyprus
Resort real estate in Cyprus is quite expensive, especially in Limassol (tens of thousands of euros per square meter). In other cities, such as Paphos, you can find real estate for 100 thousand euros. Cyprus is attractive with a long holiday season, pleasant climate and a good standard of living.
Bulgaria
A more budget option compared to Cyprus. Prices for apartments start from 15 thousand euros, and near the resorts — from 25 thousand (apartments right on the coast, which contributes to favorable rent).
Ukraine
On the coast of the Azov or Black Sea you can buy housing in Ukraine. Odessa is the most popular destination with a variety of housing options, from apartments in residential areas for 15 thousand dollars to cottages with private beaches. Other resorts — Zatoka, Iron Port, Skadovsk — offer budget options and premium class objects (cottages from 200 thousand dollars).
Turkey
In Turkey you can find good housing by the sea at prices comparable to Kiev. Houses and apartments are available in Bodrum, Marmaris, Alanya, Antalya. Renting an apartment in Ankara or Istanbul promises income all year round because of the popularity of these cities.
Spain
Prices for good real estate in Spain are similar to Cyprus. From 1000 euros per m2 you can buy real estate in Torrevieja, Las Palmas, Valencia. In Barcelona, even an ordinary apartment is not less than a hundred thousand euros. The maintenance of the house in Spain involves high fees, especially when renting in the resorts.
How to choose the best option for investment in resort real estate
When choosing resort real estate should take into account several factors:
the state of the market in the country where the purchase is planned;
the demand for tourism during the year;
potential rental income in different seasons.
Investing in resort real estate can be a lucrative and comfortable experience if approached carefully and thoroughly.