Forbes magazine recommends Americans to purchase real estate in Northern Cyprus

Forbes magazine published an article titled „Top 5 Affordable Places to Buy Property Abroad in 2024,“ where Northern Cyprus took the leading position.

High prices, increased mortgage interest rates, and reduced offerings have created an almost impossible situation for potential property buyers in the United States, leading to the lowest sales level in the past 13 years.

Instead of waiting for the US market to thaw, those interested in buying property for living or investment are advised to consider options beyond the United States, where more advantageous deals can be found.

The publisher of Live And Invest Overseas has been recommending its readers to invest in foreign real estate for many years, and today, these recommendations are more relevant than ever.

There are dynamic markets around the world that welcome and even incentivize foreign investments, sometimes offering residency and other benefits in exchange for investments exceeding a certain financial threshold.

These are places where property can be purchased at remarkably affordable prices, especially compared to the USA, where the average cost per square meter is $2,379.

The article recommends five countries where affordable real estate can be purchased abroad in 2024. To highlight the advantage, it suggests comparing the cost per square meter in each of these places with the price in the USA.

1. Northern Cyprus — saving 47% compared to the American market.

Average cost per square meter: $1,270.

2. Brazil — saving 38% compared to the American market.

Average cost per square meter in Fortaleza: $1,485.

3. Colombia — saving 34% compared to the American market.

Average cost per square meter in Medellin: $1,561.

4. Montenegro — saving 32% compared to the American market.

Average cost per square meter: $1,625.

5. Greece — saving 23% compared to the American market.

Average cost per square meter in Chania: $1,841.

Source: Forbes article dated 30.11.2023