10 awesome villas for under $1 million

Written by Andrew Henderson

Dateline: Mexico City, Mexico

We’ve talked about reasons that US real estate is not a safe investment, but many countries across the world do have great opportunities.

International real estate is one of our favorite types of offshore investments as, unlike an offshore bank account, it’s an asset that doesn’t have to be reported to the US government and it also has several other tax benefits.

Owning property in another country is also often a step towards getting a second residency.

Additionally, depending on the country you choose, it’s possible to get much higher rental yields from your property than you would back at home.

Finally, by taking advantage of lower costs of living and weaker currencies in many countries, you can get a lot more for your money.

If you’re looking for a villa as a second home, an investment, or a place to retire to, I’d suggest looking in one of the ten following countries:

1. Indonesia

Indonesia has some of the most beautiful low cost luxury real estate in the world. There are two (1 and 2) homes in Bali and one on the island of Lombok that I find particularly attractive. All are in the $600,000 range.

It’ll help to have a local Indonesian to do business with, and the bang for your buck and ROI potential here in Bali are second to none.

2. Mexico

As with golf courses, Mexico has an overabundance of luxury property. San Miguel de Allende is one of the most beautiful cities in the Western hemisphere and contains several beautiful villas for under $1 million. The city is peaceful, quiet, calm and only a few hours away from Mexico City. This one for just under $900,000, is typical of what you’ll get for less than $1 million in San Miguel de Allende.

3. Cambodia

Cambodia is one of our favorite locations in the world for international real estate. When it comes to real estate, the country is incredibly libertarian and while it’s a booming market, prices are still quite low.

You can buy property in Cambodia for a lot less than $1 million, so it was a bit difficult to find a villa in that price range in the country. This villa that opens to the ocean and is located on a private island outside the beach city of Sihanoukville is one example of what you can get for this budget in Cambodia.

Song Saa Island, where the villa is located is an example of the opportunities that enterprising entrepreneurs are finding in Cambodia. Rory Hunter, the founder of the island, vacationed in Cambodia after his wedding, discovered Song Saa and decided to turn it into a resort with rooms that go for $500 a night. With his success on the island, he’s been able to bring medical care to residents of the Koh Rong archipelago.

4. Ireland

Ireland is one of the healthiest investments to make in Europe. It’s an easy country to adapt to for English speakers and is a great place for business. It’s also possible to obtain an Irish passport after 5 years of residency and an investment of at least €950,000 (about $1,025,000) in the country, of which €450,000 should be invested in real estate.

An example of a place that you can live in for less than $1 million in Ireland is this expansive country house just 15 miles from Dublin.

5. Spain

While Spain is suffering economic devastation, real estate here is now a bit cheaper. It’s not a place to seriously consider if owning a second passport is your main consideration, but many Nomad Capitalists are drawn to the country for its culture and beauty.

This majestic villa is an example of what you can get in Barcelona for under $1 million.

6. Japan

While Japan is not a country many people think of as being low cost, there are deals to be had here due to the surplus of property caused by the country’s aging populace and a weak Yen.

There’s one traditional Japanese home for under $1 million.

7. Morocco

Across the Strait of Gibraltar from Spain, Morocco has the benefits of being proximate to Western Europe, its tourists and retirees and of being an emerging market in North Africa.

This villa is an example of a typical riad that you’ll be able to get in Marrakesh for under $1 million.

8. Slovenia

Slovenia is a small, beautiful country situated between Croatia, Italy, Austria and Hungary. It’s very easy to get a second passport here and is also very pro-business.

This villa, nestled into the mountains and just 10 minutes away from the Mediterranean coast, is an example of what you can get in Slovenia for less than $1 million.

9. Philippines

The Philippines is a great place to retire for several reasons, one of which is the availability of low cost luxury property.

This ocean front villa for just above $700,000 is another example of the quality of real estate that is available in Southeast Asia.

10. Turkey

We’ve previously written about how Turkey is becoming a great real estate option as many Middle Easterners are buying property there to escape political strife in their own countries and to join the country’s growing economy.

This 9 bedroom villa on Heybeliada, an island just across the water from Istanbul, is an example of what you can get for less than $1 million in Turkey.

 

Andrew Henderson
Last updated: Jun 26, 2020 at 8:46AM

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