If the idea of moving abroad has recently seemed a lot more appealing due to current eventsyoure not alone. A study by Coldwell Banker that was reported in Global Luxury 2024 found that about 40 percent of Americans who responded are interested in buying a home in another country within the following year. From homes in Italy you can purchase for just one euro to countries where you can buy your own private island, the options are certainly very appealing. While owning abroad may seem like a pie-in-the-sky dream, the reality is that it's certainly possible to attain with smart planning. Plus, it could be a boon to your household income and existing assets.Why Americans Are Investing AbroadThe uptick in overseas investment owes to several factors. First, the euro is lower than it has been in many years, and interest rates are lower in Europe than they are in the U.S. As of June 6, 2024, the European Central Bank cut its main lending rate from 4 percent to 3.75 percent, Samira Easton, a certified international property specialist at Premier Sothebys International Realty, says. (This is a small but significant change when youre borrowing a large sum.) Easton also points out that anxiety surrounding the upcoming presidential election is causing people to consider moving abroad. Then, of course, theres the fact that the U.S. is still experiencing a housing shortage and the homes that do wind up on the market here tend to be prohibitively expensive. The Benefits of Buying in a Foreign CountryNot only is it potentially cheaper to buy real estate abroad than here in the U.S., it can actually bring in additional income and help protect your existing assets. Investing in emerging markets can offer rapid economic returns and increasing property values, Easton explains. (In other words, the beach house you buy in Portugal now might be worth double what you paid for it in a couple of years.) And houses located in popular tourist destinations can bring in a steady stream of rental income.Owning properties in different countries also can diversify your portfolio, making you less vulnerable to crazy economic fluctuations in any one countryand real estate investments in different currencies can protect against currency devaluations in your home country, Easton says. From a lifestyle standpoint, owning a home overseas offers access to new cultures and climates (exotic food, sunny weather!) and gives families a special place to gather for holidays and summer breaks. Who doesnt want to spend Christmas in Paris or August in Tuscany?But its not just European destinations that are attracting expats. There are several countries around the globe that have cities bursting with cultural opportunities and recreational activities, beach towns with miles of sandy shoreline, and plenty of affordable homes for you to buy right now. Here are seven hot spots that belong on your list.For more international real estate advice: