5 Exquisite Places for Cheap Real Estate Nowadays

Imagine walking down cobbled streets dotted with centuries-old architecture, with views of the sea in the distance. And none of this is while you're on vacation or dreaming - it's your home. (And it hasn't beaten you by a great amount.) If you've ever dreamed of buying an affordable home in another country and moving there to live the expat life, 2023 is a great time to buy an affordable property around the world, according to Ronan McMahon, an international real estate expert.

"There is an increasing shortage of quality real estate in high-demand locations, but at the same time demand is increasing," McMahon told in an interview. "We can still buy at a big discount compared to other popular destinations and real estate in the U.S., but that window will close soon. "

With over twenty years of experience and more than two billion dollars in real estate transactions in his pocket, McMahon knows the pulse of the global real estate market like no one else. He is the editor of Real Estate Trend Alert (a publication tracking the best places in the world to invest in real estate), a trusted contributor to International Living and the author of three books on international real estate.

At the recent International Living conference, McMahon unveiled his new special report, "The World's Best Places to BuyReal Estate 2023," in which he shares his most promising global real estate picks for 2023.

When it comes to buying real estate overseas, there is no magic formula, McMahon said. "There is no magic trick to finding lucrative opportunities in real estate.

So what are the benefits of buying real estate abroad and living abroad? "For me, it's the perfect path to freedom, both financial and personal," says McMahon. "Freedom to do what you want, when you want. Freedom from worry and stress to not have to worry about what's going on in the stock market or the 24-hour news cycle.

Here, McMahon shares his picks for the five best places to buy affordable real estate around the world right now.