It’s not just Florida beach homes and New York penthouses any more. A growing number of high‑net‑worth Americans are channeling their money into real‑estate markets thousands of miles from home—often in places their friends have never even visited. Why? In a word: opportunity. From bargain‑priced villas made even cheaper by currency swings to “golden” residency visas and generous tax breaks, the deals on offer abroad can beat anything back in the United States.
Below are five countries that keep showing up on brokers’ deal sheets—and the very specific factors pulling in American money right now.
1. Portugal: Weak euro, warm vibes, and a Golden Visa workaround
Prices along Portugal’s Algarve coast jumped roughly 30 % in the past year, and local brokers say a big chunk of that demand is coming from U.S. buyers snapping up second homes and investment villas, according to Bloomberg.
Even after Lisbon’s government tightened its famous Golden Visa, Americans are still finding loopholes—buying in low‑density countryside zones and investing in commercial properties that do still qualify for residency. Add a laid‑back lifestyle, direct flights to the East Coast, and no winter blizzards, and the appeal is obvious.
Developers in chic beach towns such as Comporta (dubbed the “Portuguese Hamptons”) are rolling out eco‑friendly resorts that feel tailor‑made for Silicon Valley wallets.
For wealthy Americans who want an EU base—and maybe a Plan B passport down the line—Portugal stays top of the list.
2. Greece: Dollar strength + low taxes = island bargains
When Greece wrapped up its summer 2024 election, online searches from the United States for Greek property spiked. Real‑estate platform data show U.S. demand for Greek homes “increased sharply” right after the vote.
Why the rush? First, the strong dollar buys a lot of white‑washed stone when the euro flutters. Second, Greece’s Golden Visa still lets investors lock in a five‑year residence permit for €250,000 in real estate—half Portugal’s old threshold.
Wealth advisors also point to Greece’s flat 15 % dividend tax for new residents and a new “non‑dom” regime that caps foreign‑income taxes at €100,000 a year. For Americans already paying zero U.S. tax on capital gains inside retirement accounts, Greece’s package is a friction‑free bolt‑hole in the Med.
3. United Arab Emirates (Dubai): 0 % income tax and record‑high returns
Dubai racked up a 47 % year‑on‑year jump in residential transactions in 2024, according to Savills, with luxury beachfront towers selling out months before completion.
Brokers from Sotheby’s to Knight Frank say Americans—especially West‑Coast tech founders and Wall Street traders—make up one of the fastest‑growing foreign‑buyer groups. Dollar‑pegged dirhams eliminate currency risk, and the UAE’s zero personal‑income tax speaks for itself.
Even at today’s lofty prices, prime properties still yield 4–6 % gross—double what a Manhattan condo delivers—and investors can snag 10‑year Golden Visas with a purchase around $545,000. For wealthy Americans hunting both yield and a flashy lifestyle (plus direct flights to virtually everywhere), Dubai keeps ticking every box.
4. Japan: A 34‑year‑low yen turns Tokyo into the new “sale rack”
The yen has lost almost 34 % of its value against the dollar in just four years, falling past ¥156 per $1 in early 2025.
That currency crash means a luxury Tokyo apartment that cost $2 million in 2021 now rings up closer to $1.3 million for a cash‑rich American.
Foreign buyers—led by U.S. private‑equity giants like Blackstone—helped push Japanese deal volumes to $23.6 billion in the first half of 2024, nearly 30 % above 2022 levels.
Retail buyers are following the institutions: ski chalets in Niseko and condos in central Tokyo let Americans diversify into a stable, low‑inflation market that still offers 3–4 % rental yields.
With Japan’s first rate hike in 17 years barely nudging mortgage costs, analysts don’t expect the window to slam shut soon—but the weak‑yen discount won’t last forever.
5. Turkey: A passport for $400 k—and coastal homes at half‑price
Turkey doubled the minimum real‑estate spend for citizenship to $400,000, yet American demand keeps climbing because the lira has fallen faster than the threshold has risen.
In dollar terms, a seafront villa near Bodrum that listed for ₺20 million in 2021 cost around $2.2 million; today, it’s closer to $660,000.
Citizenship in hand, buyers gain visa‑free or visa‑on‑arrival access to more than 110 countries—useful for entrepreneurs who value mobility. Turkey also taxes worldwide income only after you become tax‑resident (stay 183 days), so second‑home owners who split time can pay little or nothing locally.
Add in direct flights to New York and a time zone convenient for Zoom calls with both Europe and America, and Turkey becomes an under‑the‑radar strategic hub for globally minded Americans.
So what’s the play?
For ultra‑wealthy Americans, overseas property isn’t just about bragging rights or Instagram views. It’s asset‑class diversification, currency hedging, lifestyle insurance, and sometimes a pathway to a second passport—all wrapped into one deal.
Before you wire any deposits, of course, do your homework:
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Check local taxes (transfer, annual, inheritance) and how they interact with U.S. obligations.
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Hire bilingual lawyers and surveyors—every market above has quirks that can trip up first‑timers.
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Run the numbers like a business, not a vacation dream: rental yields, exit liquidity, political risk, and currency scenarios.
Get those pieces right, and the world’s best deals might not be in Miami or Malibu after all. They could be waiting in a beach town in the Algarve, a high‑rise on Dubai Creek, or a cedar‑scented ski chalet under Mt. Yōtei—quietly building wealth while everyone else is arguing about Fed rate hikes back home.
