More Americans are investing in overseas real estate than ever before. According to TheStreet, 92% of high-net-worth individuals considered purchasing property abroad in the past year, and 67% already own foreign real estate. Whether motivated by lifestyle, retirement, or portfolio diversification, international homeownership is becoming a prominent trend.
Popular Countries for American Buyers
Countries frequently attracting U.S. buyers include:
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Spain, Portugal, and Greece – Known for scenic coastlines, favorable climates, and real estate residency programs, these countries appeal to retirees and digital nomads alike.
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Mexico and Costa Rica – Their close proximity to the U.S., lower cost of living, and welcoming foreign ownership laws make them ideal for long-term or vacation home purchases.
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Italy – Rich in history, architecture, and culinary culture, Italy continues to attract buyers seeking charm, heritage, and investment value.
Spotlight on Bologna, Italy
While Rome, Florence, and Milan often receive the spotlight, Bologna is emerging as a preferred destination for informed buyers. This northern Italian city, famous for its university, medieval architecture, and food culture, offers a more authentic and less tourist-driven experience.
Bologna presents several advantages: Compared to Italy’s major metropolitan areas, Bologna offers more accessible property prices. With a steady flow of students and cultural tourism, rental demand remains consistent. The city also provides a blend of tradition, innovation, and community not easily found elsewhere.
Key Factors Driving the Trend
The surge in international property purchases by Americans is driven by several factors. Many foreign markets offer homes at a fraction of U.S. prices. Buyers are drawn to opportunities for cultural immersion, improved work-life balance, and slower-paced living. In some countries, real estate purchases come with residency or visa incentives, though Italy’s options are more restrictive. Moreover, owning property abroad is increasingly seen as a way to diversify assets and protect against U.S. market fluctuations.
What to Know Before Buying in Italy
Before committing to a purchase in Bologna or elsewhere in Italy, prospective buyers should do thorough research and planning. Visiting the area in person is highly recommended to get a feel for the neighborhood, local amenities, and daily life. Working with local professionals—such as lawyers, notaries, and real estate agents—is crucial, as Italian property laws differ significantly from U.S. standards. Buyers should also understand that Italy has revised or eliminated many investor visa programs, so long-term stays may require alternate residency pathways. Additionally, it's important to budget for closing costs, taxes, and legal fees, which can add up to 10% or more of the purchase price.
Buying real estate abroad offers unique opportunities for lifestyle and investment. Cities like Bologna provide a compelling mix of value, culture, and community. With careful planning and the right professional guidance, American buyers can confidently explore homeownership beyond U.S. borders.
