Top Countries For High-Net-Worth Individuals Looking To Buy An Overseas Second Home

For many high-net-worth individuals, buying a property abroad is the ultimate status symbol. While flash cars, decadent meals, designer clothing and expensive jewellery can be a great way to highlight your wealth, there’s nothing that allows you to flaunt your success better than a second home in a unique destination.

Buying a second home can also be a worthwhile investment financially as well as socially. You could get a significant return on your investment, particularly if you rent the property out part-time or if you develop it and sell it for a profit in the future.

When you’re thinking about buying a property overseas, the first and most important decision you need to make is what country you’re going to buy in.

Where you purchase your home can affect its value, the type of property you can purchase and the taxes you’ll have to pay.

It’ll also affect the quality of the time you spend in your new home. If you’re a fan of beaches and hot weather, then a property in a colder climate might not be a great choice for you.

So, you need to do your research and find the right country to buy a second home in before you begin your search.

If you’re a high-net-worth individual who’s looking to buy property, particularly if you want a second home, then here are some of the top countries you should consider.

France

France is a stunning country filled with beautiful architecture and incredible natural landscapes. For those looking to spend time in their second property and enjoy the finer things in life, France is an ideal choice. With so many wealthy individuals and entrepreneurs choosing to own property and live in France, there are now specialist firms dedicated to advising them on all aspects of their financial matters. If you’re looking for support on managing your finances when living in France, then one such company is Kentingtons. Their team are experts on managing your taxes and financial position while living in France.

Italy

Another beautiful country, and one that boasts incredible history and delicious food, is Italy. If you want to embrace the Mediterranean culture and the relaxed, laid-back way of life that the Italians enjoy, then buying a property in Italy could be the perfect choice for you. Italy is home to many amazing luxurious properties, many of which are historical and boast outstanding craftsmanship. So, if you’re looking for a stunning property that you can show off, then an Italian villa could be the perfect option for you. Mainland Italy is a peninsula which is surrounded by coastline, meaning that there are many coastal towns and cities to choose from when selecting an Italian bolthole.

Belize

A small Central American country, Belize is a relatively safe country whose national language is English, meaning that you can easily ingratiate yourself with the local culture and become a part of the local community. This small coastal country is home to stunning coral reefs and beautiful oceans, making it a great place to live for those who love outdoor pursuits and spending time in nature. It also has a warm climate, so it’s the ideal location for anyone who wants to escape the cold in the winter. The country is popular with North Americans, so there will be lots of new people to meet, and as it is in Central America, it’s in close proximity to many beautiful rainforests and other countries. If you want to broaden your horizons and explore opportunities outside of Europe then Belize could be an ideal choice for your second home.

Thailand

If you’re thinking of choosing Asia as a location for your second home, then Thailand could be an ideal choice for you. Thanks to its low cost of living, incredible culture and glorious surroundings, Thailand has become a haven for ex-pats over the years. It is now home to many communities of individuals from around the world and has many private resorts and estates where wealthy overseas individuals can own amazing luxury homes. If you love Asian culture and want to spend your free time in a warm climate, then Thailand could be the perfect destination for your second home. Property and living costs are lower in Thailand than elsewhere in the world, so you can get more for your money and enjoy a higher standard of luxury living.

Portugal

Many people have a second home in Spain, and while the country is gorgeous, it can be nice to own  a property in a less heavily-populated area. One nearby country that is equally great for ex-pats looking for a second home is Portugal. With tax incentives for foreigners and many pathways to citizenship, Portugal is a great country for ex-pats. The country has a warm climate and many beautiful properties, so it could be a great place to consider buying a second property in. Portugal is also very accessible and has close ties to the rest of Europe, making it a great choice for those who want to see more of the world and are looking for a central location for their second home. Portgual is also incredibly diverse and includes a lot of amazing films, art, music and food.

Finland

When you think of buying a luxury second home, you might not think of moving to Scandinavia. However, according to the World Ex-Pat Index, Finland is the best country in the world for ex-pats, thanks to its high rate of happiness, exceptional healthcare system and high quality of life. So, if you’re looking for a second home that you can spend most of your time in, and perhaps eventually move into full-time, then Finland could be an amazing choice. Like most of Scandinavia, Finland is expensive to live in, but it is also beautiful and could be worth the investment if you want to enjoy relaxation and true happiness.

 

*This is a collaborative post.