📺 Stream EntrepreneurTV for Free 📺

Seeking Cheaper Housing, Americans Are Moving to Europe The expat lifestyle is becoming more than a TikTok trend.

By Gabrielle Bienasz

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Americans are relocating to Europe in greater numbers than in years past, Bloomberg reported Thursday.

With the dollar strong against the Euro, an intense housing market, and a tumultuous political environment, U.S. residents are moving to France, Spain, and Portugal, the story added.

One woman, Stephanie Synclair, told the outlet she struggled to afford to buy a home in Atlanta, even with $300,000 in cash in her pocket — so, instead, she bought two homes in Italy and a storefront, for 60,000 Euros in April.

"I would never have looked to buy in Italy if the market in the US hadn't been so crazy," Synclair said.

There's data to back it up. Sotheby's International Realty told Bloomberg that American inquiries about moving to Greece are up by 40% compared to April-June 2021 — and that Americans contributed 12% of their Italy-based revenue in Q1 2022. Last year, that number was 5%.

Moving abroad can be tricky, but in some ways, it's gotten easier in the remote work era. Countries like Iceland, Portugal, and Antigua, for example, will let workers live there for one or even two years, pending approval from various programs according to Insider.

You can also buy a property or invest a certain amount of money in a country to get a "golden visa." Interest in these programs tends to increase when things are unsettled in the U.S., Murat Coskun, managing partner of Get Golden Visa, told Fortune.

On TikTok, inspired issues like gun violence and healthcare access are discussed widely on tags like "expat," and have billions of views.

There's also a wealth of advice out there for entrepreneurs who seek to move abroad.

Jamie Dixon, remote worker and mom of one, told Bloomberg that part of the reason she moved to Portugal with her family last year was because of anxiety over crime and politics.

"Violence has gone up so much in the US," she told the outlet. "I wanted to give my kid a normal childhood.

Gabrielle Bienasz is a staff writer at Entrepreneur. She previously worked at Insider and Inc. Magazine. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

'Everyone Is in Complete Shock': A 500-Person Tesla Team Found Out 'in the Middle of the Night' Their Charger Division Was Laid Off

Other car companies that use the technology, such as General Motors and Ford, also weren't expecting the news, according to reports.

Business News

There Are Only 6 Major Cities Left in the U.S. With 'Affordable' Homes Matching Median Incomes — Here's the List

Homeownership is not affordable for the typical household in 44 of the 50 largest cities in the U.S.

Side Hustle

He Started a Salty Backyard Side Hustle That Out-Earned His Full-Time Job and Now Makes Over $1 Million a Year: 'Take the Leap'

In 2011, Kyle Needham turned his passion for oysters into a business that saw consistent monthly revenue "right away."

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

James Clear's Atoms App Promises to Help Break Bad Habits and Create Better Ones — Here's How It Works

The app turns Clear's best-selling book, "Atomic Habits," into something actionable.