Top 10+ Countries Where Buying Property Is Almost Impossible

Switzerland: Dreams Meet Red Tape

Switzerland’s picture-perfect scenery and world-class lifestyle make it a fantasy location for many, but if you want to own a piece of this Alpine paradise, prepare for a mountain of obstacles. Foreigners face some of the tightest property laws in Europe, with non-residents allowed to buy only in certain “tourist areas”—and even then, they must jump through bureaucratic hoops to secure a rare permit.

The Swiss government keeps a close eye on foreign ownership, with annual quotas capping how much property can be bought by outsiders. Prices are sky-high, with the average property costing around CHF 1,000,000 ($1,100,000).

There’s also a hefty property transfer tax that can add tens of thousands to your bill. Even for the wealthy, Switzerland’s restrictions make homeownership feel like a distant dream rather than a reachable goal.

The Swiss protect their real estate market fiercely, which keeps it exclusive and, for most, out of reach.

Monaco: The Billionaire’s Playground

Monaco exudes luxury, but its real estate is nearly impossible for ordinary buyers. This glitzy city-state has some of the highest property prices on the planet, regularly exceeding €50,000 per square meter.

The space is tiny, and demand is sky-high, so most listings are snatched up by the ultra-wealthy before anyone else has a chance. While foreigners can technically purchase property, buyers must show proof of significant financial resources and often compete against billionaires for a limited supply of homes.

There are also high transaction taxes and strict regulations, making the process anything but straightforward. Even if you have the money, navigating Monaco’s legal requirements can feel like trying to win the lottery.

For most, Monaco’s property market remains a distant fantasy, reserved only for the world’s richest individuals.

New Zealand: A Fortress for Locals

In 2018, New Zealand took the bold step of banning most non-residents from buying existing homes, aiming to cool skyrocketing prices and give locals a fighting chance. The move was shocking to many international investors, as New Zealand had become a hotspot for those seeking refuge from global uncertainty.

Only citizens and permanent residents can buy property freely, with rare exceptions made for Australians and Singaporeans due to special agreements. Even for eligible buyers, the average house price in New Zealand hovers around NZD 1 million ($650,000), making affordability a major obstacle.

The government strictly monitors purchases, and violating the rules can lead to hefty fines or forced resale. The combination of tough laws and soaring prices has turned New Zealand into one of the hardest places in the world for foreigners to make a home.

Singapore: The Stamp Duty Squeeze

Singapore is famous for its gleaming skyline and efficient city planning, but the real estate market is fiercely guarded. Anyone who isn’t a Singaporean citizen faces tough restrictions and sky-high taxes.

Foreigners must pay an Additional Buyer’s Stamp Duty of up to 30% on residential property purchases—a staggering amount that can add hundreds of thousands to the final bill. The government also limits the types of property foreigners can buy, mainly allowing only private apartments, not landed homes.

With the average private residence costing SGD 1,200,000 ($885,000), the cost is prohibitive for most. Local banks often require larger down payments from foreigners, making financing tricky.

These hurdles ensure that only the most determined and wealthy outsiders can break into Singapore’s property market.

Japan: Lost in Translation and Tradition

Japan’s real estate market can appear open, but hidden barriers abound for foreign buyers. There are no outright bans, but the process can be bewilderingly complex, with documentation and contracts often available only in Japanese.

Securing a mortgage is another challenge, as most banks require permanent residency or long-term visas, shutting out many would-be buyers. In Tokyo, average home prices hover around ¥60,000,000 ($550,000), a steep entry point even before factoring in legal and translation fees.

Japan also has unique property traditions, such as the concept of “leasehold land” and strict zoning laws, which can be confusing for outsiders. Cultural expectations and communication gaps can make negotiations tense and drawn-out.

For these reasons, many foreigners find Japan’s property market nearly impenetrable.

Iceland: The Chilly Welcome

Iceland’s wild beauty draws admirers from around the world, but buying property here is no easy feat. While there are technically no restrictions for foreigners, the process is notoriously slow and complicated.

The average home in Reykjavik now sells for around ISK 50,000,000 ($400,000), with prices climbing due to limited supply and high demand. Foreigners often struggle to secure mortgages from Icelandic banks, as preference is given to residents with established local credit.

Properties come onto the market infrequently, leading to fierce competition and bidding wars. Navigating the legal system can be daunting, as it’s heavily influenced by Icelandic language and customs.

The unpredictable nature of Iceland’s market leaves many potential buyers feeling left out in the cold.

Brazil: Bureaucracy and Barriers

Brazil’s vibrant culture and booming cities attract many, but its property market is a maze for outsiders. While foreigners are legally allowed to buy most types of property, the bureaucracy can be overwhelming.

Purchases require multiple layers of approval, notarized documents, and a deep understanding of local laws. In cities like São Paulo and Rio de Janeiro, the average property costs between BRL 500,000 and BRL 1,500,000 ($100,000 to $300,000), a wide range that reflects big differences in location and quality.

Foreign buyers often face difficulties securing financing, as banks prefer clients with a solid Brazilian credit history. Corruption and fraud are also concerns; scams targeting foreign investors are not uncommon.

These challenges combine to make buying property in Brazil a daunting and risky proposition.

Turkey: A Tangle of Opportunity and Risk

Turkey’s mix of East and West has lured many to its buzzing cities, but the property market can be a minefield for foreigners. Recent government initiatives have encouraged foreign ownership, yet the process remains fraught with legal complexity.

Buyers must navigate unfamiliar regulations, often without clear guidance. In Istanbul, average prices sit around TRY 1,500,000 ($200,000), but values fluctuate wildly depending on location and market trends.

Financing is difficult for non-residents, as banks demand extensive documentation and often require large down payments. Property scams and fraudulent listings make vigilance essential; unwary buyers risk losing their investment altogether.

For many, Turkey’s property market feels like a gamble with high stakes.

South Korea: High Prices, High Hurdles

Buying property in South Korea, especially in Seoul, is a daunting task marked by soaring prices and fierce competition. The average home in the capital now costs about KRW 600,000,000 ($500,000).

While foreigners are not banned from purchasing real estate, the process is complicated by language barriers, cultural differences, and an incredibly fast-moving market. Securing a mortgage is tough, as banks often require permanent residency or a long-term visa.

There’s also a strong local preference for cash transactions, making financing even harder for outsiders. Foreign buyers must also register their purchase with the government, adding an extra layer of bureaucracy.

These factors combine to make homeownership in South Korea a distant dream for many.

China: The Great Wall of Regulation

China’s vast real estate market is notoriously difficult for foreigners to penetrate. While it’s not outright illegal for non-Chinese citizens to buy property, the government imposes a strict set of rules.

Foreigners must have lived in China for at least one year before they can purchase, and they’re generally limited to one property meant for personal use, not investment. In major cities like Beijing and Shanghai, prices can exceed CNY 60,000 ($9,000) per square meter—astronomical sums even by global standards.

The process is complicated by frequent policy changes and a legal system that can be difficult for outsiders to navigate. Financing is rarely available to non-residents, and buyers must often pay in full with cash.

All these hurdles ensure that only a tiny fraction of overseas hopefuls ever own a home in China.

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