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Top 20 Places in the World for Real Estate Investment
Written by
Gabrielle Olya
Edited by
Somnia Keesey

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If you’re looking to expand your real estate portfolio to include properties abroad — either because you want to live or retire there, or because you are looking for an investment property — you should look for places that offer an ideal lifestyle, high investment returns or both.
Ronan McMahon’s Real Estate Trend Alert identified the top 20 best places in the world based on their transformational real estate investment and lifestyle benefits.
“Our list of the top 20 destinations with the strongest potential for profit and lifestyle benefits through real estate in the next 12 to 18 months is the culmination of a year-long research and travel project,” McMahon said in a press release. “Real estate fortunes, large and small, are made during moments of big transformations. That means when you look everywhere, you’ll always find opportunity somewhere.”
Here’s a look at the top 20 places identified in the trend report.
Algarve, Portugal
- Why it made the list: Rental income, capital gains, lifestyle
- Of note: Ranked No. 1 for short-term rental income and No. 3 for capital gains
Silver Coast, Portugal
- Why it made the list: Lifestyle
Costa del Sol, Spain
- Why it made the list: Lifestyle, capital gains, rental income
Los Cabos, Mexico
- Why it made the list: Capital gains, rental income, lifestyle
- Of note: Ranked No. 2 for short-term rental income and No. 1 for capital gains
Baja California, Mexico
- Why it made the list: Lifestyle
Riviera Maya, Mexico
- Why it made the list: Rental income, capital gains, lifestyle
- Of note: Ranked No. 5 for short-term rental income and No. 2 for capital gains
San Miguel de Allende, Mexico
- Why it made the list: Llifestyle
Puerto Vallarta, Mexico
- Why it made the list: Rental income, capital gains, lifestyle
Merida, Mexico
- Why it made the list: Lifestyle, capital gains
Placencia, Belize
- Why it made the list: Lifestyle, rental income, capital gains
- Of note: Ranked No. 6 for short-term rental income
Panama City, Panama
- Why it made the list: Long-term rental income, capital gains, lifestyle
- Of note: Ranked No. 1 for long-term rental income
Pacific Riviera, Panama
- Why it made the list: Long-term rental income, capital gains, lifestyle
- Of note: Ranked No. 3 for long-term rental income
Medellin, Colombia
- Why it made the list: Rental income, lifestyle
Southern Zone, Costa Rica
- Why it made the list: Rental income, capital gains, lifestyle
- Of note: Ranked No. 3 for short-term rental income
Arenal, Costa Rica
- Why it made the list: Lifestyle
Northwestern Costa Rica
- Why it made the list: Rental income, lifestyle, capital gains
Rome, Florence and Venice, Italy
- Why it made the list: Rental income, lifestyle
- Of note: Ranked No. 4 for short-term rental income
Uruguay’s Farmland
- Why it made the list: Long-term rental income, capital gains
- Of note: Ranked No. 2 for long-term rental income and No. 4 for capital gains
Atlantic Coast, Uruguay
- Why it made the list: Lifestyle
Montenegro
- Why it made the list: Lifestyle
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Data is sourced from Ronan McMahon and is accurate as of April 20, 2023.
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