Nomad Capitalist: These Two Parts of the World are On Sale

The U.S. dollar’s recent strength is creating rare price gaps in foreign currencies, real‑estate markets, and residency‑by‑investment programs. For investors who can hold dollars, the current exchange‑rate environment makes it possible to acquire assets and legal residency in several European and Asian jurisdictions at a discount of anywhere from a few percent to well over 50 %.

Europe – Euro weakness and “golden‑visa” bargains

• Euro exchange rate – The euro has slipped to roughly 0.70 USD per € (about €1 = $0.70), a level comparable to the worst of the pandemic period.
• Golden‑visa investments – Many EU countries (Portugal, Spain, Italy, Latvia) require a €500 k investment in real estate or capital. Because the euro is cheaper, that same €500 k now costs roughly $350 k instead of the $700 k‑plus it did a year ago.
• Malta citizenship by donation – The fast‑track option (citizenship in < 18 months) starts at €750 k. The dollar cost has fallen by six figures compared with a year earlier.
• Serbia – The dinar is trading near 110 RSD = $1 (its long‑term average). Property is bought in euros, but local business costs and salaries are now cheaper in dinar terms, making Serbia attractive for both real‑estate and company‑formation.
• Croatia – The kuna has also weakened, further reducing the euro‑denominated price of property and residency‑by‑investment thresholds.
• Turkey – The lira is at ≈ 16 TRY = $1 (up from ~7.5 TRY two years ago). A citizenship‑by‑investment program priced at $400 k now requires about 6.4 million TRY, a larger nominal amount but a lower dollar outlay because the lira has depreciated.

Take‑away: With the euro at historic lows, a €500 k golden‑visa or a €750 k Maltese citizenship donation can be secured for roughly half the dollar price paid a year ago. Serbia and Croatia add affordable real‑estate options where operating costs are also reduced.

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Asia – Currency devaluation drives cheaper residency and property

Key observations

• Malaysia’s MM2H program, once priced at a higher USD amount, now requires a smaller dollar outlay because the ringgit has weakened. The program also offers the rare right to own land outright in Southeast Asia.
• Thailand’s elite visa remains a “glorified tourist” permit that can be renewed indefinitely. The higher baht‑to‑dollar rate makes the required 10 M THB investment (≈ $300 k) less costly.
• South Korea offers a residence permit for ₩500 M (≈ $400 k). The recent depreciation of the won reduces the dollar price by roughly 5 %.
• Japan provides no direct residency‑by‑investment route, but the yen’s plunge to ¥130 = $1 makes buying undervalued rural property feasible for investors seeking a low‑cost lifestyle asset.