Dateline: Tbilisi, Georgia
Often times, individuals will automatically disqualify themselves from investing in foreign real estate because they believe that the only option available to them is to purchase an expensive property.
Today, I’d like to illustrate the opposite.
Not only is it possible to find solid investments for exceptional prices, it’s actually quite common. To demonstrate this, let’s take a look at three properties located in Armenia, Georgia and Turkey, all in the $50,000 range.
The only downside to doing this is that the photos in this part of the world aren’t always top notch; once you get past the poorly taken images, however, it is easy to see that there is a lot of potential.
This two bedroom apartment is located DEAD center, right next to the main square of Yerevan, Armenia. The second floor apartment has a balcony that opens up to the great view, and the central location means that you (or your tenants) will have quick access to nearby stores.
The apartment is in need of repair, which is why it is on sale for $52,500. For renovation-minded investors, this is a great deal. You’ll find that Armenia is cheaper than a place like Georgia, but investors consider it to be less stable.
This 2 bedroom apartment is currently on sale. Occupying the second floor of a 9 story building, it is located on the Nar-Dos street. You can enjoy a nice meal, or your morning coffee with a great view, in the open balcony. All necessary stores can be found nearby the apartment.
This three room, one bedroom apartment in Tbilisi is currently going for a little over $55K, but my friend is the agent and I believe it could be had for $50,000.
In an older neighborhood in the city center, the property is in a stable building and needs some light renovation on the bottom floor and full renovation on the top floor.
The layout of the apartment makes it possible to divide it into two different units. Where else can you get city center rental properties for $25K each?
This one bedroom apartment — originally priced at $69,000 — is currently selling for the discounted price of £47,600 (just under $54K). It is part of communal facilities with pools, gardens, covered parking, playgrounds, schools, sports clubs, 173 stores and shops, restaurants and an on-site cinema.
The apartment is located in Bahcesehir, one of the best districts on the European side of Istanbul. The city center is expensive and often has problems. Bahcesehir, on the other hand, is an attractive neighborhood located in a relatively earthquake-free zone with great access to and from the city center.
Bahcesiehir is popular among the upper middle class who work in the city, as well as among real estate buyers. If you are considering moving to or investing in Turkey, Bahcesehir is one of the best options for either an investment or lifestyle purchase.
There are plenty of options out there. These are just three apartment from three countries in one little region of the world. You have an entire globe with hundreds of different real estate markets available to you.