Norawashburn

Borrowing locally affects the decision in both directions. Overseas purchasers frequently meet larger deposit requirements and shorter terms than residents.

Insurance, running costs and the cost of selling complete the picture. Capital gains tax often applies when a non-resident sells, and the resident rate is not always the one that applies.

Money requires its own planning. Setting up a local account tends to be a requirement for the transfer, and local banks typically ask for proof of the source of funds.

The most expensive mistake is relying on the seller's lawyer. The agent gets a commission when the deal closes, which is not the same as protecting the buyer.

Beyond the investment itself, these schemes carry further conditions. Frequent requirements include a police clearance certificate, health cover, evidence of sufficient means and a minimum stay on local soil annually.

The starting point is what foreign buyers are actually allowed to own. Certain jurisdictions allow freehold ownership of apartments but restrict land plots; elsewhere, governments demand a corporate vehicle or a long lease in place of direct title.

Forgetting about resale is a quieter mistake. Every purchase has to be sold or passed on at some point, and the resale market determines the price. A property attractive only to a narrow group sells slowly when sentiment turns.

Beyond the purchase price, programmes carry further conditions. Frequent requirements include a police clearance certificate, private health insurance, documented income and a required physical presence in the country each year.