Making it easy to invest in emerging market real estate

In countries like Colombia and Pakistan, foreigners have an easier time buying real estate in comparison with others like Myanmar and the Philippines. There are different, specific reasons for this ease, which vary from nation to nation. Lamudi Nigeria has compiled the following list to make it easy to invest in the emerging markets.

Although the Philippines and Myanmar are both great locations to invest in real estate, they have several restrictions for foreigners. These are justified as they are intended to give greater opportunities for locals to own property.

The Philippines requires foreign investors to be part of a Filipino corporation in order to buy real estate, or in the case of condominiums, foreign investment is capped at 40 percent.

Myanmar only allows foreigners to buy condominiums above the sixth floor. Similarly to the Philippines, there is a 40 percent cap on foreign investment in property developments.

In addition to Colombia and Pakistan, other countries that do not place a large number of restrictions on foreign ownership of real estate are Mexico, Mauritius and the United Arab Emirates (UAE). In these countries, foreign investment has driven the real estate market, which is beneficial to locals.

Nigeria

Nigeria, one of the most beautiful places to visit, is an attractive place in terms of foreign real estate investment. both foreigners and locals are protected under the same law, the Land Use Act of 1978, where all land is converted to State Land. The Governor of the State is responsible for the management of land on behalf of the people. Consent from the Governor is needed for use and occupancy of residential properties.
Mexico

Foreigners buying real estate in Mexico are protected under the same property laws as citizens. Additionally, investors do not need to be residents of the country in order to purchase property. The only real restriction for foreigners buying real estate in Mexico is location. Foreigners are usually not allowed to buy property in the “Restricted Zone,” i.e., the areas along national borders, though there are some exceptions.

Mauritius

In addition to the beautiful climate of Mauritius, it is an incredibly alluring place to invest. The government has recently eliminated restrictions on foreigners buying real estate. It is a popular location for beach properties, vacation rentals and second homes. Like Colombia and Mexico, it is a safe and stable country where reputable foreign investors in real estate are protected by the same laws as citizens.

Pakistan

The real estate market of Pakistan is one of the hottest in the emerging markets. The real estate of its larger cities, like Lahore and Karachi, are very attractive to foreign buyers, not only for its value, but also for the quality of life and modern amenities it affords. Aside from a bit of paperwork, there are little to no restrictions on foreigners buying or renting property in Pakistan. Recently, the government has been interested in boosting the market by courting international investment.

United Arab Emirates

Known for its stunning, world-class architecture, namely its skyscrapers, the United Arab Emirates offers foreigners freehold ownership of real estate in designated “Investment Areas.” These areas are chosen by the individual Emirates, not by the federal government. Within them, buying property is very easy for foreigners. Investment Areas can be established at any time by the respective governments of the seven constituent Emirates of the UAE.