Ukrainian families and entrepreneurs are building homes and investment properties across the globe. Each destination offers different advantages: Spain provides EU stability and an established Ukrainian community, Portugal offers lower costs and an attractive lifestyle, Bali delivers exceptional rental yields and tropical living, Thailand provides affordability and a welcoming expat infrastructure, and Georgia offers proximity to Ukraine and favourable business conditions. This guide compares the key factors for each destination.
Spain: EU stability and established diaspora
Spain remains the most popular European destination for Ukrainian builders and investors. Key advantages: full property ownership rights for foreigners, clear and well-tested legal framework, 300+ days of sunshine per year in coastal areas, established Ukrainian communities in Valencia, Alicante, Marbella, and Barcelona, excellent healthcare and education infrastructure, and EU travel and residency benefits. Construction costs: €1,200–€2,500 per m² for quality residential. Permit timeline: 3–12 months. Total project budget for a 200 m² villa including land: €400,000–€700,000 on the coast.
Bali: tropical living and rental yields
Bali attracts Ukrainian investors with combination of low construction costs and high rental returns. Key advantages: construction costs $800–$2,000 per m², gross rental yields of 12–20% for luxury villas, vibrant international and Ukrainian expat community in Canggu and Seminyak, lower cost of living compared to Europe, growing digital nomad and remote worker market creating year-round demand. Key challenges: no freehold land ownership for foreigners (leasehold or corporate structures required), less predictable legal system than EU countries, tropical climate demands specific construction expertise, infrastructure limitations in some areas. Best for: investors seeking strong rental returns with a secondary lifestyle benefit.
Georgia: proximity and business-friendly environment
Georgia has become increasingly popular among Ukrainians for both relocation and property investment. Key advantages: direct flights from major European cities, no visa required for Ukrainians, extremely business-friendly regulations (ranked top globally for ease of doing business), foreigners can own land and property, very low construction costs ($400–$800 per m²), flat personal income tax of 20%, growing tourism sector especially in Tbilisi and Batumi. Key challenges: not an EU member (no EU travel benefits), smaller economy with currency fluctuation risk, limited luxury market compared to Spain or Bali, construction quality standards less developed in some areas. Best for: budget-conscious investors or families wanting a nearby investment with language and cultural familiarity.