Top Countries for Canadian Property Buyers Seeking Coastal Paradises

If you’re looking to invest in a beach haven abroad, several destinations offer the perfect combination of pristine beaches, favourable real estate markets, and attractive investment opportunities. From tropical paradises in the Caribbean and Central America to breathtaking coastal destinations in Europe and Asia, this blog will explore the allure of these beach havens and provide valuable insights to help you make an informed decision.

When planning to buy property overseas, it’s essential to choose a money transfer platform that’s reliable and offers bank-beating rates to make the process smoother and more cost-effective for you. Apart from that, you don’t need to worry about international payments, as MTFX can handle your transactions efficiently, offering better-than-bank foreign exchange rates.

In this blog, you’ll learn about the top destinations for beachfront investments, the benefits of owning property by the sea, and practical tips for navigating the financial aspects of buying property abroad.

What are the top destinations to buy a beachfront property?

Although various countries offer a range of enticing property purchase options for beachfront real estate, understanding the role of foreign exchange is crucial. Fluctuations in currency can significantly impact property prices, investment returns, and ongoing expenses. By understanding foreign exchange dynamics, Canadian buyers can make informed decisions when buying international beach properties, optimizing their investment while mitigating currency-related risks.

Mexico

Canadian property buyers in Mexico favour destinations like Playa del Carmen for its expat-friendly vibe, Progreso for tranquillity and affordability, Puerto Escondido for its surfing culture, and Cancun for its robust property market. Tulum offers a mix of beach life and Mayan heritage, while the Riviera Maya region is known for beautiful beaches but comes with higher costs and environmental considerations. Los Cabos and Puerto Vallarta attract Canadians with luxury and vibrant culture at more affordable prices, and Costa Maya offers a quieter, more pristine beach experience, though less developed​​​​​​​.

United States

Canadian buyers interested in vacation properties in the US often desire destinations in Florida, California, and Hawaii due to their unique offerings. Many Canadians buy property in Florida, particularly in Palm Coast, Hollywood Beach, and Hallandale, which are sought after for their warm ocean waters, nature reserves, and various activities. California, especially San Diego, offers beautiful beaches, a warm climate, and a vibrant cultural scene. With destinations like South Kohala and Wailea, Hawaii is also a great option for buying property due to its stunning natural beauty, sunny weather, and luxurious amenities, catering to those who desire a tropical paradise.

Costa Rica

Canadians interested in beachfront property in Costa Rica typically gravitate towards Tamarindo for its vibrant surf scene and lively atmosphere, Jaco for its mix of surfing, nightlife, and accessibility to national parks, and Nosara for a quieter, nature-focused setting with a strong emphasis on wellness and yoga retreats. Each area offers a unique lifestyle, from active and energetic beachfront communities to tranquil settings ideal for relaxation and connecting with nature.

Dominican Republic

In the Dominican Republic, Canadian buyers are often attracted to Punta Cana for its beautiful beaches and diverse real estate, Bavaro for investment opportunities and rental demand, and Cap Cana for luxury living with upscale amenities. La Romana offers historic charm with a range of properties, while areas like Cabarete, Sosua, and Puerto Plata on the northern coast are popular for their vibrant beach life and water sports. Santo Domingo blends colonial history with modern living, and Las Terrenas in Samana is known for its tranquil, expat-friendly environment. For Canadians looking to buy property in the Dominican Republic, exploring these exciting locations means balancing lifestyle preferences with investment potential. As you explore these exciting locations and plan your investment, it’s equally important to think about how you’ll send money overseas efficiently and securely to complete your property purchase smoothly.

Belize

Canadian buyers looking to buy property in Belize are drawn to Ambergris Caye for its vibrant beach life and diverse property options, Placencia for its tranquil beaches and affordable real estate, and the Cayo District for its natural beauty and eco-tourism opportunities with lower property prices. Each area offers a distinct lifestyle, from the lively island atmosphere of Ambergris Caye to the peaceful beachfront of Placencia and the lush, adventurous setting of the Cayo District.

Bahamas

The Bahamas offers vibrant lifestyles with beautiful beaches, perfect for family entertainment and sun-soaking. Eastern New Providence and the exclusive areas of Lyford Cay and Old Fort Bay appeal to those seeking upscale, gated community living. Albany stands out for its resort-style amenities and architectural elegance. Eleuthera & Harbour Island's tranquil beaches and charming colonial style are ideal for a serene retreat. At the same time, the Exumas cater to those seeking an exclusive and private island experience with stunning natural beauty.

Spain

Canadians can also buy property in Spain. For Canadians, Barcelona offers a vibrant city life with beach access, while Ibiza and Madrid are perfect for a laid-back lifestyle with a rich culinary scene. Mallorca and the Canary Islands offer stunning natural beauty and a relaxing atmosphere but are somewhat isolated. Valencia is a more affordable urban option, and Costa Blanca is known for its picturesque landscape and quiet setting. On the other hand, Andalusia, especially the Costa Del Sol area, is famous for its sunny beaches and cultural richness. Murcia stands out as an emerging, budget-friendly coastal region with less crowded beaches.

France

Canadians looking to buy beachfront property in France have two distinct regions to consider. First is the culturally rich and naturally beautiful Brittany Region, with towns like Brest, Lorient, Quimper, St Malo, Vannes, and Morlaix, each offering unique attributes from youthful vibes and affordability. The second one is the luxurious French Riviera, including Cannes, Grasse, and the Côte d'Azur area, known for its lively atmosphere, luxury properties, perfume industry, golden beaches, and magnificent cuisine. Both regions cater to various preferences, combining vibrant coastal life with tranquil settings and rich culture.

Croatia

Canadian property buyers are attracted to various regions for beachfront properties in Croatia. The Dalmatian Coast, including Split and Dubrovnik, is beloved for its historical charm and famous beaches. Istria offers a blend of Italian-influenced coastal towns and a celebrated food scene, while the Zadar Region is appreciated for its unique balance of ancient and modern, coupled with tranquil beaches. Lastly, Dubrovnik-Neretva County, with its dramatic coastal cliffs and rental potential, provides a mix of exclusivity and natural beauty. Each area uniquely combines cultural richness with serene coastal life, and for Canadians looking to buy property in Croatia, it’s important to plan how you’ll transfer money overseas efficiently to complete your property purchase smoothly.

Thailand

In Thailand, Canadians are drawn to several regions for beachfront properties. Phuket is a favourite for its vibrant beaches and developed amenities, offering a range of lifestyles. Koh Samui appeals for its tranquil beaches and luxury property market, blending Thai culture with modern comforts. Pattaya provides a lively city-beach experience, while Hua Hin, known for its royal heritage and relaxed atmosphere, offers upscale living with family-friendly beaches. Lastly, Krabi stands out for its natural beauty with secluded beaches, ideal for those seeking a peaceful retreat.

Australia

In Australia, the Gold Coast in Queensland offers vibrant urban life and renowned surfing spots, while the Sunshine Coast is preferred for its laid-back, family-friendly environment. Byron Bay in New South Wales attracts those seeking an alternative lifestyle with a strong community feel. If you want to buy property in Australia, Sydney is the best option. It is coveted for its dynamic city life and iconic beaches like Bondi. Perth in Western Australia combines urban amenities with scenic beachfront, and the Mornington Peninsula in Victoria is known for its upscale tranquillity and proximity to Melbourne's cultural scene.

Portugal

The Algarve Region is most popular among Canadians buying property in Portugal for its warm climate, stunning beaches like Praia da Marinha, and relaxed lifestyle, making it ideal for retirees. The Lisbon Coast, particularly Cascais and Estoril, offers a mix of urban amenities and beautiful beaches for those seeking a cosmopolitan coastal life. The Silver Coast is appreciated for its unspoiled beaches, authenticity, and quieter environment. Lastly, the Azores archipelago is gaining attention for its natural beauty and eco-friendly lifestyle, suited for adventure enthusiasts. For many Canadians, Portugal presents an appealing option when considering a vacation home in Europe, offering diverse regions that cater to different lifestyles and investment goals.

Jamaica

You can purchase property in Jamaica, as there are numerous places for Canadians to acquire a second home. Canadians favour Montego Bay for its lively culture and range of property options near famous beaches like Doctor's Cave Beach. With its laid-back vibe and the renowned Seven Mile Beach, Negril appeals to those seeking tranquillity. Ocho Rios offers a mix of outdoor activities and diverse real estate choices set against scenic beaches and waterfalls. Kingston and St. Andrew Parish attract buyers looking for urban amenities close to coastal areas like Hellshire Beach, while Portland Parish is ideal for those preferring a more authentic, peaceful Jamaican experience.

Aruba

In Aruba, Canadian buyers often gravitate toward Palm Beach and Eagle Beach for their high-end condos and proximity to top resorts. Malmok and Noord are sought after for their quiet neighbourhoods and luxury villas, perfect for long-term stays or vacation rentals. Oranjestad, the capital, offers a mix of historic charm and convenience, while areas like Savaneta appeal to those seeking a more laid-back, local vibe. With stable governance and no restrictions on foreign ownership, the coastal region remains a top choice for Canadians looking to buy property in Aruba and enjoy sun-filled island living.

Tanzania

Zanzibar is a popular choice for Canadians with its stunning beaches, vibrant resorts, and serene settings, offering a rich blend of culture and relaxation. Dar es Salaam, the country's largest city, provides urban amenities and beach access, appealing to those seeking a city-coastal lifestyle. Pemba Island, known for its lush landscapes and secluded beaches, is ideal for buyers seeking privacy and natural beauty. Mafia Island appeals to those interested in marine life and conservation, offering a laid-back environment and integration with nature. Each area offers distinct experiences, from lively cultural hubs to tranquil, natural retreats catering to various preferences.

Panama

Panama City is a hotspot for Canadians looking for urban sophistication, modern condos, and strong rental demand. Coronado is popular for beachside living with North American-style amenities, while Boquete in the highlands attracts retirees and expats with its cooler climate and scenic mountain views. Bocas del Toro and the Pearl Islands offer stunning waterfront homes and eco-friendly developments. With its residency incentives and use of the US dollar, Panama is an attractive destination for buying vacation property or retiring abroad.

Grenada

Canadian property buyers in Grenada are drawn to Grand Anse for its famous beach and mix of residential and resort-style real estate. Lance Aux Epines is favoured for upscale villas and quiet living, while True Blue and Westerhall appeal to those looking for marina access and scenic views. The capital, St. George’s, combines colonial architecture with urban conveniences, and Carriacou offers a more tranquil, off-the-beaten-path island experience. Grenada’s citizenship-by-investment program and stable market make it ideal for long-term property investment.

Curaçao

Curaçao attracts Canadian property buyers with its blend of Dutch-Caribbean culture and diverse property options. Willemstad’s historic districts, such as Pietermaai and Otrobanda, offer charming restored homes and apartments. Jan Thiel and Blue Bay are top choices for oceanfront condos and villas, especially for vacation rentals. Westpunt appeals to nature lovers with more secluded, eco-friendly properties. With no restrictions on foreign ownership and a thriving expat community, Curaçao is a top pick for those looking to buy a vacation home in a stable, sun-drenched locale.

Obstacles and key challenges in cross-border payments

The following challenges highlight the importance of thoroughly understanding available payment methods and partnering with a trusted payment service provider such as MTFX to ensure smooth and secure overseas transactions.  

■ Transfer fees: Many financial institutions and payment service providers charge fees for international transfers, which can vary based on the amount being transferred, the transfer method used, and the institutions involved. Check daily exchange rates to ensure you choose a reliable provider that offers bank-beating rates.

■ Security and fraud: Overseas payments carry risks related to security and fraud. It's important to ensure that the payment method used is secure and that personal and financial information is protected during the transaction.

■ Time and speed: International payments may take longer to process than domestic transactions due to factors such as time zone differences, intermediary banks, and varying processing times.

■ International taxation: Overseas payments involve compliance with international tax laws, which can be complex as tax rules vary between countries and can impact the overall cost of the transaction.

■ Payment method availability: Not all payment methods are readily available for international transactions, requiring individuals and businesses to explore alternative options. So, before you plan to send money to buy property overseas, be sure to do your research and choose the most secure and cost-effective method.

■ Customer support: Resolving issues or queries related to overseas payments requires efficient and responsive customer support, which can be challenging when dealing with different time zones and language barriers. 

Why is MTFX a better option when compared with traditional banks?  

Banks often burden customers with various foreign exchange transaction fees, including conversion and transfer fees. MTFX takes a different approach by striving to provide Global Payment Solutions with lower transaction fees. By opting for MTFX, you can reduce unnecessary expenses and retain more of your money when engaging in international payments.

① Competitive rates: MTFX provides better-than-bank exchange rates, surpassing those offered by traditional banks. This means that you can get more value for your money when converting currencies and making international payments. 

② Lower fees: Traditional banks typically charge higher fees for international transactions, including wire transfer and currency conversion fees. MTFX, on the other hand, is up to 5% more cost-efficient, helping you save money on each transaction. 

③ Specialized expertise: MTFX specializes in international payments and has extensive experience handling cross-border transactions. Our dedicated team understands the complexities involved in making overseas payments and can provide tailored solutions to meet your specific needs. 

④ Global network: MTFX has a vast network of global banking partners, enabling them to facilitate transactions in a wide range of countries and currencies. MTFX also provides currency updates which ensures that you can make payments to various destinations without limitations. 
  
⑤ Customer service: With a dedicated customer support system that operates 24/7, MTFX is committed to providing abundant guidance and support whenever needed. 

Overall, MTFX offers a more cost-effective, efficient, and customer-centric approach to international payments compared to traditional banks. By choosing MTFX, you can enjoy the benefits of competitive rates, lower fees, personalized service, and enhanced security, making your overseas transactions smoother and more cost-efficient.

Effortless global transactions: Simplify international payments with MTFX

When you're investing in a property abroad, it's essential to choose a money transfer service that can help you save money on global transactions and currency conversions.

With MTFX, you can enjoy the convenience of using your  24/7 secure online account to send and manage international payments efficiently. You'll have a range of innovative global payment features at your fingertips, including rate alerts and foreign exchange tools.

Open your account with MTFX in less than five minutes.

FAQs

1. What’s the best way to send money internationally for real estate? 

Use MTFX to avoid bank fees and get better exchange rates for large transactions.

2. Can I pay developers or escrow agents abroad directly? 

Yes, MTFX facilitates direct transfers to verified legal or financial institutions in over 200 countries.

3. Do I need a local bank account in each country? 

Not necessarily. MTFX can send money directly to your lawyer's or notary’s trust account.

4. How do I avoid double exchange losses? 

MTFX allows direct CAD to local currency transfers (e.g., CAD to EUR), bypassing unnecessary USD conversions.

5. Are real estate transactions in Belize, Mexico, or Portugal priced in USD or local currency? 

It varies. Belize, Costa Rica, and Mexico often use USD, while Portugal and other European countries primarily use local currency (EUR, GBP, DKK etc.)

6. How long does an international transfer take with MTFX? 

Typically, 24–48 hours, depending on the destination and required documentation.

7. Is it cheaper to use MTFX than a traditional Canadian bank?

Absolutely. MTFX provides exchange rates 3–5x better than most banks and charges lower wire fees.

8. What’s today’s exchange rate for CAD to USD, EUR, or MXN? 

Visit MTFX live rates or use the rate calculator for real-time figures.

9. Can I get alerts when rates improve? 

Yes. Set up personalized currency rate alerts to monitor FX trends.

10. Can I repatriate funds back to Canada if I sell the property later? 

Yes. MTFX supports both outbound and inbound international transfers.

Open your account with MTFX in less than five minutes.