IMI Global Property Scoreboard (GPS): build a real estate portfolio based on data, not on gut feeling

Most real estate investors don’t buy where the opportunity is strongest. They buy where their attention is “activated.”

Where they live. Where their families live. Where they speak a familiar language. Where a particular broker is actively promoting a specific property right now.

That’s understandable—but it significantly limits results.

What if you could buy property in any city in the world? How would you decide where to start?

Maybe the best long-term outlook won’t be in Lisbon, Dubai, Miami, Madrid, or London.

It could be a city you barely considered.

One market can deliver high rental yield while still having weak management. Another can be clean, safe, and liquid—but expensive and already “mature.” A third might look cheap on paper, yet be difficult for foreigners in terms of ownership access, bank financing, property management, and—down the line—an exit from the investment.

You can’t compare such markets reliably using only the question “cheap or expensive.” You need a methodology that accounts for fundamental factors.

That’s exactly why we created the Global Property Scoreboard (GPS).

GPS evaluates the long-term investment attractiveness of cities for residential real estate from the perspective of global investors.

The tool is designed for internationally mobile investors, residency and citizenship consultants, family offices, and buyers who think globally: it helps compare cities across a broad set of underlying parameters.

Access to the tool is available to participants of IMI Pro and IMI Sovereigns.

What exactly does GPS measure?

GPS is not a signal for short-term trading. It doesn’t try to predict price movements over the next quarter, and it doesn’t claim that the top-ranked city automatically suits every investor.

Instead, GPS answers a more practical question:

How attractive is this city as a long-term real estate investment market for a foreign investor—taking into account yield potential, access barriers, transaction “friction,” stability, and structural demand?

That’s why GPS goes beyond a simple assessment of price or rent growth. A city can appear “cheap” and still score poorly if foreign buyers face restricted access, the currency is unstable, property rights are weakly protected, or liquidity is low. Conversely, a mature and developed market may not promise dramatic upside, yet still earn a high rating thanks to strong rule of law, resilient rental demand, clear ownership rights, and minimal operational complexity.

This matters because international investors don’t optimize for the same goal. Some are willing to enter complex, “borderline” markets for potentially higher returns. Others prefer transparent rights, stable institutions, straightforward banking services, and an easier exit—even if yield is lower and capital growth is less dramatic.

So, GPS is a decision-support tool, not a one-size-fits-all recommendation to “buy here.”

Methodology

GPS calculates scores for each city using 42 factors grouped into seven sections:

• Property: valuation, yield, the deal “pipeline,” liquidity, vacancy risk, the share of mortgage financing, and core parameters of the rental market.
• Demand: urbanization, population growth, migration, depth of tourism demand, inflow of mobile capital, age structure, human capital.
• Access: ownership structure, practicality of banking services, currency stability, air connectivity.
• Costs: tax on rental income, property tax, capital gains tax, plus total transaction costs.
• Governance: rule of law, control of corruption, judicial system efficiency, protection of property rights, freedom to do business.
• Resilience: peace and stability, risk of regional conflicts, climate and natural risks, food security, energy security.
• Macro: income levels, growth outlook, government debt, and infrastructure competitiveness.

The weights are intentionally simple: Property — 30%, Demand — 20%, and each of the remaining five sections — 10% each. Metrics inside each section are treated with equal weight.

This structure reflects the core logic of GPS: the baseline parameters of property and demand matter most, because the tool’s purpose is to evaluate the long-term performance of the residential segment. Access, taxes, governance, resilience, and macro conditions remain important—but they act as supporting measurements.

GPS also accounts for restrictions on foreign ownership. Closed markets are not included in the ranking. Restricted markets remain in the table, but receive a penalty for limitations imposed on foreigners—depending on the type and strictness of the requirements.

Minor restrictions—such as allowing foreign ownership within broadly “permitted zones”—are assessed differently than regimes that require residency, government approval, or significantly narrower access compared with local investors.

The ranking is indicative

No index can capture an individual investor’s personal constraints, risk tolerance, tax profile, financing availability, or whether they have a local network of contacts.

For one investor, high “friction” can be an advantage—barriers reduce competition. For another, it can make the market unsuitable.

A developer investor, a yield-focused investor, a “lifestyle” buyer, a participant in citizenship-by-investment programs, and a family office preserving capital may look at the same city and reach different conclusions.

That’s why GPS includes not only a table, but also filters. Users can prioritize the factors that matter most to them—foreign ownership rules, rental yield, approach to short-term rentals, tax on rental income, governance quality, resilience, and other parameters.

In other words, GPS doesn’t say: “Buy here.” It says: “Here’s the foundation. Now filter it through your strategy.”

Which markets stand out?

In the current dataset, several cities are particularly noticeable—but for different reasons.

Lima is an example of an opportunity in a developing segment. The city benefits from relative affordability, long-term housing demand driven by urbanization, and the potential for “catch-up” growth. At the same time, the market isn’t entirely problem-free: investors should understand management risks and operational nuances. But for those willing to navigate complexity in developing markets, Lima’s fundamentals may be more compelling than many expect.

Helsinki illustrates another type of “investable” market. This isn’t about high-turnover frontier-style scenarios or maximum growth potential like in rapidly developing cities. Its strength is institutional quality: rule of law, stability, infrastructure, and fewer operational uncertainties. For investors who value predictability and low friction, Helsinki may look stronger for reasons that differ from the Lima case.

Abu Dhabi stands out for yet another logic. Here, developed infrastructure, capital inflows, safety, high connectivity, and a clear position in the economy of the wealthy Persian Gulf region come together. Still, the market isn’t fully open: foreign ownership is limited to designated zones, and regional geopolitical risks should be taken into account. However, for the right investor, these limitations may be acceptable relative to the city’s broader strengths.

These examples show why GPS is more useful than a single line item in a ranking. Lima, Helsinki, and Abu Dhabi can all be attractive—but for completely different reasons.

Who GPS is especially useful for

GPS is particularly relevant for internationally mobile investors comparing real estate markets across countries and seeking a structured way to separate facts from personal opinions.

It can also be valuable for investment immigration consultants. Real estate remains central to many residency and citizenship strategies, but the quality of the underlying property market varies greatly. A property that fits the requirements of a visa program isn’t always a good investment—and that’s exactly what the index helps clarify.

Family offices, wealth managers, and cross-border tax advisors can use GPS to assess where mobile capital is more likely to be directed. Markets that attract globally mobile entrepreneurs, affluent individuals, retirees, and family capital benefit from a demand base that can’t be fully explained by internal figures on income or demographics alone.

Finally, GPS is useful for investors who already know a specific market well but want to test their own assumptions. If a city is unexpectedly high or low, the value isn’t just in the final number. The value is in which factors drove the outcome.

A starting point for more precise questions

GPS doesn’t replace local due diligence. Investors still need legal advice, tax expertise, transaction support, neighborhood-level analysis at the street level, and practical understanding of liquidity and rental demand.

But before that stage, investors need a single logic for comparing cities. That’s what GPS provides.

It offers a structured framework of questions: is the market “cheap” for a real reason—or is it an illusion? Is the yield actually real? Can foreigners truly buy? Is demand broad or narrow? How reliable is the legal system? Will the city’s resilience be enough for a long hold? Does the city attract affluent mobile investors—or do they move on?

The answers won’t be the same for everyone—and that’s the key idea.

GPS gives participants the data, scoring framework, and filters to determine which markets fit their own strategy.

If you’re building a strategy where real estate is part of investment residence/citizenship, it’s crucial to choose cities not “by intuition”, but by data. At Digital Nomad we help globally mobile investors evaluate market drivers and shape a portfolio aligned with long-term goals — from liquidity to property manageability. Learn how to connect real estate investment with residency options: https://digital-nomad.gr/en/goldenvisa

Our Telegram channel about various types of Greek residence permits, digital nomad programs, and the Greek Golden Visa: @digitalnomadgr