In many countries, there are different levels of difficulty for foreigners trying to purchase real estate there. In some places, this is basically impossible for some foreigners, somewhere you need to fulfill a number of conditions for purchase, in some countries there are certain areas where you cannot buy residential properties, and so on. We have compiled a list of countries where it may be difficult to buy apartments and houses, and outlined important details in each case.
Austria
To buy a property in Austria, foreigners must meet one of the following requirements:
- Have citizenship of one of the EU countries, Switzerland, Iceland, Norway or Liechtenstein. Citizens of these countries will not need additional permits when purchasing.
- Have an Austrian residence permit. To purchase with a residence permit, you will need to obtain a permit from the local Land Commission.
- Make a purchase for a legal entity registered in the EU.
Exceptions are possible, but they depend on the characteristics of a particular property. For example, in some Austrian federal states there are restrictions on the purchase of agricultural land by foreigners.
Hungary
Foreigners are required to obtain permission from local authorities to purchase real estate in Hungary. It is issued by the Land Committee, and in order to obtain it, it is necessary to involve a lawyer who will accompany the transaction.
Permission is not required if the purchase is made through a company (legal entity) registered in Hungary or in the EU. However, in this case, additional documents may also be required, depending on the type of company and its activities.
Foreigners are prohibited from buying in Hungary: military and strategic facilities, national monuments, as well as objects located in nature reserves. The purchase of Balaton and Heviz resorts will be questionable — the authorities may not give permission.
Vietnam
Categories of foreigners who are allowed to purchase apartments in Vietnam:
- foreigners who have invested in the Vietnamese economy or hold senior positions in a company operating in that country;
- foreigners whose contribution has been recognized by the President or Prime Minister of Vietnam;
- foreigners with higher education who work in the socio-economic sphere, or those who have special knowledge important for this particular country;
- foreigners married to Vietnamese citizens;
- companies with foreign capital operating in Vietnam that are not real estate companies and need housing for their employees.
Limitations. Foreign individuals can own apartments for a maximum of 50 years; foreign companies — for the period specified in their investment certificate.
It should also be borne in mind that resident foreigners cannot sublet residential real estate purchased in Vietnam.
Greece
Foreigners who are not citizens of the EU and the EEA (European Economic Area) are prohibited from buying in Greece: real estate near military bases and national borders, in particular, in some regions of Northern Greece, Crete and Rhodes, the Eastern Aegean Islands and the Dodecanese Archipelago.
Denmark
A foreigner can buy real estate in Denmark only for the main place of residence or business.
To do this, the buyer must meet one of the requirements:
- previously lived in Denmark for at least five years;
- He is an EU citizen and works in Denmark;
- He is a citizen of a non-EU country with a valid residence or business permit.
For citizens of EU countries, the process of buying real estate has been greatly simplified.
Canada
Since January 1, 2023, Canada has introduced a ban on the purchase of housing by foreigners. It was extended until January 1, 2027, which means that it will be valid for another four years, not just two, as originally planned.
But there are still exceptions.Foreigners who can buy housing in this country can:
- have a work permit in Canada. At the same time, you can buy no more than one residential property;
- they buy vacant land for the purpose of residential and mixed development;
- they buy housing for the purpose of development. This also applies to public companies established in Canada, but controlled by foreign entities.
International students and some other categories of foreigners are also eligible to purchase real estate if certain conditions are met, such as a long stay in the country.
“Moved to another continent at the age of 21.” Personal experience of studying and living in Canada: prices, housing, difficulties
Cyprus
Non-EU and EEA citizens will need an official permit from the country’s Council of Ministers to purchase real estate in Cyprus. As a rule, it is readily given out for the purchase of a house or a plot of land with an area of no more than 4014 m2. In some cases, a permit may be issued for larger plots, depending on the specific circumstances.
In addition, foreigners who are not citizens of EU and EEA countries can own only one object. And commercial real estate can only be bought by legal entities registered in Cyprus.
UAE
Citizens of this country, as well as foreigners from Middle Eastern countries such as Saudi Arabia, Oman, Bahrain, Kuwait and Qatar, have the right to purchase real estate anywhere in the UAE in full ownership. Companies registered in these countries also have this opportunity.
A foreigner of non-Arab origin can buy housing and commercial properties only in certain freehold regions of the UAE. Objects located in free trade zones are registered as full private property, and they can be sold, rented, donated or inherited.
In the period from 2006 to 2008, resolutions were adopted that approved the list of free zones in Dubai, Umm Al-Quwain, Ras Al-Khaimah and Ajman. In 2019, freehold ownership became available to foreigners in Abu Dhabi as well. In Dubai, for example, there are currently more than 60 freehold areas.
In the United Arab Emirates, there are also leasing regions where real estate is sold as a long-term lease (the maximum term is 99 years). After this period, the tenant must return the object to the owner, but it is possible to extend the contract for a similar period for himself or for relatives. In addition, the object can be sold before the expiration of the lease term, transferring the remaining lease time to the buyer. This type of property is available only to citizens of Arab countries.
Malta
To purchase real estate in Malta, a foreigner must:
- To get official permission from the authorities — Acquisition of Immutable Property Act (AIP Permit). An AIP permit is required to purchase real estate in any area, with the exception of designated areas — Special Designated Areas (SDA). Permission will not be required for EU citizens who have lived on the island for the last five years, as well as their spouses who do not have European citizenship; these exemptions also apply to EU citizens who purchase real estate for the purpose of doing business or providing services.
- To purchase an object with a value that exceeds a certain minimum set by the authorities (about €150,000 for an apartment and €250,000 for houses and villas). This amount is periodically reviewed.
- Foreigners can buy no more than one property per family in Malta (with the exception of SDA, where this restriction does not apply).
Mexico
As a foreigner, you are not allowed to buy property within 62 miles (100 km) of the international border or 31 miles (about 50 km) from the coast of Mexico. However, these restrictions can be legally circumvented: either by purchasing an object through the Mexican Land Trust (fideicomiso), or through a Mexican Corporation.
One more point: ejido (land granted by the Government to the indigenous peoples of Mexico) cannot belong to foreigners.
Poland
To purchase a house with a plot, foreigners who are not EU and EEA citizens must obtain permission from the Ministry of the Interior. Such permission is granted to those who can prove a connection with Poland: this may be a temporary or permanent residence permit, Polish origin, marriage with a citizen of the country. You do not need a permit to purchase an apartment.
A permit will also be required for the purchase of real estate located in the border area.
Is there any other affordable real estate in Poland? Review of current prices and mortgage rates in an interview with an expert
Saudi Arabia
A foreigner can own one piece of real estate in Saudi Arabia without the right to resell.
The country has also introduced the “Premium Residency” program, which provides extended rights to foreign investors.
There are two ways to participate in it:
a) As a real estate investor:
- It requires the purchase of ready-made housing worth from 4 million Saudi riyals (about $ 1 million).
- The purchase must be made without the use of mortgage loans.
- It is necessary to confirm the value of the object by accredited appraisers.
b) As a privileged resident:
- Proof of financial viability is required.
- Fee payment: • Up to 5 years: 100,000 Saudi riyals (about $26,500). • Unlimited term: 800,000 Saudi riyals (about $212,000).
Limitations. Foreigners are prohibited from purchasing housing in the cities of Mecca and Medina — they can only inherit it.
Restrictions also apply to foreigners with regard to the right to dispose of property. For example, the sale of an acquired object is possible only after five years.
It is worth noting that the Kingdom is developing a new law on foreign investment support, which is due to enter into force in 2025.
How and what kind of real estate can be bought in Saudi Arabia: investor support and return on investment
Slovenia
Citizens of Slovenia, the countries of the European Union and the OECD (Organization for Economic Cooperation and Development) have the right to freely buy real estate in the country. For citizens of other countries, a different procedure has been established: they need to register a legal entity on the territory of the state.
The procedure for opening a company includes obtaining a work permit. This requires one of the following conditions to be met:
- Investing at least 50,000 euros immediately after the registration of the company.
- Confirmation of the company’s monthly income of at least 10,000 euros for the first six months of operation.
Foreign citizens can purchase various types of real estate, including apartments, houses and land plots, in most regions of Slovenia. Special requirements can only be applied when purchasing agricultural land.
How to buy a property in Slovenia: detailed guide
Singapore
Foreigners can freely buy apartments in apartment buildings and condominiums in Singapore without special permission.
To buy a separate house with a plot of land, a foreigner needs a special permit from the government of that country. It is quite difficult to get it.
Also, foreigners are completely prohibited from purchasing apartments of the Housing and Development Board (HDB) — these are affordable apartments subsidized by the state. And they make up a large part of the country’s housing stock.
Since 2011, foreigners have to pay an additional stamp duty (Additional Buyer’s Stamp Duty, ABSD) when buying residential real estate. The rate of this fee changes periodically.
At the same time, citizens of some countries (for example, Norway, Switzerland, Liechtenstein) have the same rights to purchase real estate as citizens of Singapore.
Thailand
Foreign citizens can purchase apartments in Thailand in full ownership only in condominiums, where each apartment has its own owner, but the common area is jointly owned. If an apartment building is not registered as a condominium, then foreign citizens can purchase apartments only on a long-term lease (Leasehold).
When buying a villa with a plot of land, a foreign citizen can only purchase a house in full ownership. A land plot can be issued by a foreign individual only for a long-term lease, usually for a period of 90 years. You can also create a Thai company: a foreigner can own 49% of the company that buys the land.
Turkey
Non-residents can purchase real estate in Turkey, the total area of which does not exceed 25,000 m2. The total area of land that a foreigner can own is limited to 30 hectares per person.
Limitations:
- Starting from July 1, 2022, a foreign citizen purchasing real estate in one of the 1,169 closed regions cannot register and reside in his property. Therefore, he will not be able to obtain an initial residence permit and officially stay in the country. The same rule applies to rentals. However, this innovation will not affect foreign citizens who already had a residence permit in these closed regions.
- The Turkish government prohibits foreign citizens from buying real estate in the territories of border zones and in places located in military areas. In addition, each foreign citizen is allowed to own no more than 10% of real estate in a certain area or city.
- Buying real estate in Turkey is prohibited for foreign foundations and associations, and citizens of Armenia, Yemen, Cuba, Nigeria, Syria and the DPRK cannot register real estate in this country for an individual.
Areas of Turkey where foreigners can get an icamet by buying real estate
Lithuania
EU/EEA citizens have the same rights to purchase real estate as Lithuanian citizens, without additional restrictions.
Citizens of non-EU/EEA countries are free to buy real estate, but there are restrictions on the purchase of agricultural land.
At the end of March 2023, the Lithuanian parliament approved in the first reading a bill on the introduction of a ban on the purchase of real estate by citizens of Russia and Belarus. A little later, it was softened a little. As a result, the situation regarding real estate now looks like this:
- The ban on buying real estate in Lithuania applies only to those Russians who do not have a residence permit or permanent residence in Lithuania. Also, non-residents will not be able to accept real estate as an inheritance.
- Restrictions on real estate have been lifted for citizens of Belarus — Belarusians can buy real estate. But additional checks and paperwork are apparently inevitable.
New Zealand
You cannot buy or build a house in New Zealand if you are a foreigner with a temporary or transit visa (for example, student, work or guest); or a foreigner without a visa.
New Zealand citizens and permanent residents who meet the requirements of “ordinary residents” can buy real estate without restrictions.
If you have a resident class visa, but you are not yet an “ordinary resident”, you can buy or build one house to live in if you get the consent of the Office of Foreign Investment before buying.
To have New Zealand resident status for the purchase of residential real estate, you must meet all four criteria:
- have a resident visa;
- have lived in New Zealand for at least the last 12 months;
- physically stay in the country for at least 183 days in the last 12 months;
- be a New Zealand tax resident.
If you are a citizen or permanent resident of Australia or Singapore, you will receive a Resident class visa upon arrival in New Zealand.
Finland
Buyers of real estate in Finland from outside the European Union and the European Economic Area (EEA) must obtain a purchase permit from the Ministry of Defense of that country. It will not be needed if the apartment is owned by housing companies.
Limitations. Foreigners are not allowed to buy real estate in the Aland Islands. This is possible only if there is an Aland right of residence, which can only be claimed by children of the original inhabitants of the archipelago and Finnish citizens.
Switzerland
You can only buy real estate in Switzerland:
- Swiss citizens;
- EU citizens with a residence permit of category B and C;
- people from other countries with a residence permit of category C (or B, but it depends on whether the bank approves it).
Foreigners need a permit to buy holiday accommodation.
Limitations:
- Non-residents have the opportunity to buy only one real estate object for personal use per family, and at the same time, the living area of the object cannot exceed 200 square meters.
- Foreigners can not buy resort accommodation in all cantons and only if there are quotas. But they can’t live there for more than a certain amount of time.
- Foreign companies are prohibited from purchasing real estate in Switzerland, but it can be purchased through a company that is listed on the Swiss stock exchange. At the same time, a non-resident is allowed to own no more than 33% of the share capital of this company.
“There is a “square” and for €15,000.” Expert details about the Swiss real estate market
Montenegro
Foreigners cannot purchase real estate in Montenegro at a distance of less than one kilometer from the state border, as well as objects on islands and objects of strategic importance/
Estonia
Foreigners are prohibited from buying real estate in the Estonian border territories. This can only be done by citizens of Estonia, the EU and the EEA, as well as legal entities, and only with the permission of the government/
Author
Yulia Yanukovych Editor-in-Chief
I am responsible for the work of the editorial office. I write expert interviews and guides.
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