Easier movement across countries and greater acceptance of dual citizenship have opened gateways for people of this time. Unprecedented catastrophes, such as the 2008 financial crisis and the recent pandemic, have emphasized the need for hedging against future losses. And who can understand this concept better than investors? Investing in the safest countries that offer citizenship through real estate investment has emerged as one of the most feasible alternatives. This is particularly true for wealthy individuals who can afford various types of citizenship programs. It has come to notice that about 90% of the world’s millionaires have achieved their current standing by investing in real estate.
Double Gains
Not only is investing a great financial opportunity, but it also brings various benefits associated with citizenship in another country. These investment chances can be availed through either a direct citizenship-by-investment option, which does not require a lot of time, or through a residency program that eventually leads to citizenship in a few years. Investment programs and their terms and conditions vary across countries. Many countries have realized the potential for foreign direct investment that can be attracted through this scheme and, therefore, offer multiple types of investment citizenship or residency. The Caribbean Islands, in particular, have been noted as favorites in this category so far.
Global Real Estate Market: An Overview
Real estate investment has always been viewed as one of the less risky avenues. Its significance, however, has increased with rising inflation and the availability of a worldwide pool of opportunities. No longer restricted to the boundaries of just one country, real estate investment becomes even more alluring with the citizenship component. Not only can one secure against the time value of money, but the added benefits of another passport or citizenship can greatly enhance overall possibilities. According to research, about 25% to 30% of global property is bought by real estate investors.
The global real estate market size in 2022 was recorded at $3,704.02 billion, and with a Compound Annual Growth Rate (CAGR) of 5.32% between 2023 and 2032, it is expected to reach $6,219.88 billion by 2032, per Precedence Research. The Asia-Pacific region accounted for 40% of the revenue in 2022. American Tower Corporation (NYSE: AMT), Prologis, Inc. (NYSE: PLD), and Equinix, Inc. (NASDAQ: EQIX) are some of the largest public real estate companies in the world.
American Tower Corporation (NYSE: AMT) is a Fortune 500, S&P 500, and Forbes Global 2000 company, a real estate investment trust that provides the infrastructure for modern digital communications. Prologis, Inc. (NYSE: PLD), is one of the largest industrial real estate companies in the world, poised for further growth, especially due to increased demand for logistics. Prologis, Inc. (NYSE: PLD) is also aiming to leverage technological developments in AI to transition from being anonymous mass retailers to mass personalization.
Equinix, Inc. (NASDAQ: EQIX) is one of the world’s largest global data center Real Estate Investment Trust (REIT). The company has a strong position in the market. This is what RiverPark Advisors had to say about Equinix, Inc. (NASDAQ:EQIX) in its Q3 2023 investor letter:
“Equinix, Inc. (NASDAQ:EQIX): EQIX, a position we have held before, is a REIT that provides a global web of network-neutral, multi-tenant data centers that allow enterprises to bring together and interconnect the infrastructure required to compete in the digital economy. The company operates 248 data centers in 32 countries and 72 markets. These datacenters sit on top of the cable infrastructure and house the internet service provider equipment that connects and powers the internet.
The company charges tenants rent for colocation space, plus metered power and interconnects utilized. EQIX’s revenue growth is driven by price increases, greater cross-connect utilization, and new data center development. We believe the company can compound revenue at more than 10% a year over the next five years, and more than double Funds From Operations (FFO). We re-initiated a small position in August.”
15 Safest Countries That Give Citizenship by Buying Real Estate
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Methodology
For our list of the 15 Safest Countries That Grant Citizenship by Real Estate Investment, we meticulously examine various sources to identify nations with direct citizenship programs through real estate purchases, particularly those in the safe country zone according to the Travel Safe-Abroad Safety Index. This process led us to select eight countries. Additionally, we explored residency by real estate programs that eventually lead to citizenship and picked the remaining seven based on their ranking in the Travel Safe-Abroad Safety Index.
Note: Antigua and Barbados was not listed on the Travel Safe-Abroad Safety Index, however, we used various other sources to confirm that it is indeed a safe country and also include it in the list.
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15. Uruguay
A permanent residency program for investors in the real estate sector is available for those seeking citizenship in one of the world’s safest countries. Check out our 30 Safest Countries in the World in 2024, for a detailed outlook on safest countries. The physical presence requirement extends to only 60 days a year in the country, and while the application approval takes about 12-18 months, permanent residency is obtained as soon as the application is approved. The investment amount required is $525,000.
14. Mauritius
As one of the safest countries offering citizenship through real estate investment, Mauritius provides an indirect route through its Permanent Residency Program. Under this plan, an investor can purchase a designated real estate project worth $375,000 and obtain immediate permanent residency. With continuous residence of seven years (or five for Commonwealth citizens), applicants can attain citizenship. Alternatively, a faster scheme involves a higher investment of $500,000, leading to citizenship in two years, though the physical residence requirements are more restrictive in this case. The types of real estate investment include integrated resort schemes, real estate schemes, property development schemes, smart city schemes, invest hotel schemes, and ground plus two apartment schemes. While dual citizenship is recognized, applicants must demonstrate proficiency in either English, French, or a local language.
13. Curacao
A real estate investment program is available for individuals desiring residency and, ultimately, citizenship in this safe country. Investors can participate in this program in three ways. Firstly, by making a minimum investment of $280,000 and maintaining ownership, one can obtain a three-year residency permit, which is also renewable. Another option is to invest $425,000 and gain a five-year residency permit. In the third scenario, an $850,000 investment would lead to an indefinite residency permit without any renewal requirements. Five years of residency make one eligible for citizenship.
12. South Korea
South Korea’s Immigrant Investor Scheme for Real Estate (IISRE) is an initiative by the Korean government to attract foreign investors to the country and encourage them to pursue citizenship. Although considered an expensive option, the scheme allows for permanent residency within five years and eligibility for citizenship application. The entire citizenship process takes 5-6 years, and applicants must demonstrate proficiency in the Korean language. The program requires an investment in hospitality real estate, including condominiums, hotels, golf resorts, villas, and similar categories in selected investment areas. The investment entails a minimum purchase of qualifying real estate for KRW 1 billion (approximately $750,000). Investors of any age can acquire this real estate and obtain temporary residency, known as F-2.
11. Spain
As one of the safest countries worldwide, Spain offers a Golden Visa Plan for permanent residency through real estate investment. This option requires a €500,000 investment in real estate on the open market. The period for obtaining permanent residency is five years, and for citizenship, it is 10 years. However, for certain nationalities and ethnic groups, the 10-year requirement is reduced to just two years.
10. Monaco
For individuals aspiring to obtain residency or citizenship in Monaco, there is an investment opportunity in real estate, albeit not a direct citizenship route. However, this path is not only expensive, but the country also does not allow dual citizenship. The option involves a property purchase of €500,000 and an additional €500,000 bank deposit to establish financial independence. This aids in obtaining a permanent residency card (Carte de Sejour). To become eligible for the country’s citizenship, one must reside continuously in Monaco for 10 years and maintain a clean criminal record.
9. Bermuda
Another safe country offering a residency program that leads to citizenship is Bermuda. Through their Economic Investment Certificate Program, which requires a substantial investment of $2.5 million in various forms, including residential or commercial real estate, investors can attain permanent residency in five years. Furthermore, individuals who are not absent for more than 450 days in the five-year period and are present in the country for the last year preceding the application become eligible for British Overseas Territories citizenship. The investor’s spouse and children under 18 are automatically included, and those in the 18-25 age bracket may also be included, provided they are studying in a higher education institution.
8. Turkey
Turkey’s citizenship by investment program stands as one of the most popular citizenship routes globally, with over 13,000 applicants and their families seizing this opportunity. Among the various options available, the real estate route requires a minimum purchase of $400,000, with no specification regarding the property type. Following the purchase, a residence permit application is submitted, and after the completion of all relevant paperwork, a review is carried out, which may include an interview. Typically, it takes about 3-4 months for citizenship to be granted. The inclusion of a spouse and children under 18 is automatic, and the property must be held for at least three years after obtaining citizenship.
7. Jordan
To encourage foreign investment, the government of yet another safe country offers a direct citizenship-by-investment route, which includes real estate as an option. Initiated in 2018, the program allows investors to participate by investing a minimum of $750,000. Additional requirements include passing a background check and providing financial proof. After qualifying for the program, applicants and their families (spouse and children) can also apply for citizenship, typically granted in about six months.
6. Saint Lucia
While Saint Kitts and Nevis boast the oldest citizenship-by-investment programs in the Caribbean Islands, Saint Lucia is the youngest. Investors can obtain citizenship in this beautiful country in just about 3-6 months by simply investing about $200,000 in a government-approved real estate project. Additionally, there are non-refundable applicant fees.
TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.
The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.
The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.
“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.
“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”
The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.
New listings last month totalled 15,328, up 4.3 per cent from a year earlier.
In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.
The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.
“I thought they’d be up for sure, but not necessarily that much,” said Forbes.
“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”
He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.
“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.
“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”
All property types saw more sales in October compared with a year ago throughout the GTA.
Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.
“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.
“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”
This report by The Canadian Press was first published Nov. 6, 2024.
HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.
Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.
Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.
The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.
Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.
They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.
The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.
This report by The Canadian Press was first published Oct. 24, 2024.
Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.
Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.
Average residential home price in B.C.: $938,500
Average price in greater Vancouver (2024 year to date): $1,304,438
Average price in greater Victoria (2024 year to date): $979,103
Average price in the Okanagan (2024 year to date): $748,015
Average two-bedroom purpose-built rental in Vancouver: $2,181
Average two-bedroom purpose-built rental in Victoria: $1,839
Average two-bedroom purpose-built rental in Canada: $1,359
Rental vacancy rate in Vancouver: 0.9 per cent
How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent
This report by The Canadian Press was first published Oct. 17, 2024.
