Overseas property markets
Where are the top 20 best places to buy property in Europe?
Channel 4’s A Place in the Sun recently aired a programme investigating what are top 20 EU (and soon to be EU member states) countries to invest in property. They claimed this was based on a variety of socio-economic metrics, and expert knowledge. Although the “science” and methodology was perhaps a bit woolly and made a lot of assumptions, the results are nevertheless interesting. It clearly demonstrates that old property investment favourites such as France and Spain have been overtaken (in investment potential) by new kids on the old eastern bloc and also by the Baltic states.
Here are the top 20 places to buy overseas property in Europe.
In brackets is the estimated increase in property value after 10 years and notes about the market.
- Romania (514%.) Early stages of property investment, market is basic and risky but potential returns huge.
- Poland (493%.) Keep an eye on Krakow as it is billed as the new Prague.
- Portugal (460%.) Forget the Algarve try the less popular northern coast.
- The Baltic States (456%). In particular Tallinn the capital of Estonia, watch out for freezing winters though.
- Sweden (452%.) Real surprise but strong growth predicted because high wages and very low average house price but cost of living is very expensive.
- Belgium (440%.) May have a boring image but Brussels is the home of the EU which means a big rental market and good returns for buy to let.
- Slovakia (426%.) Centrally located, good tourist potential
- Slovenia (378%.) Beautiful small country bordering Austria, Italy and Croatia. Good skiing and outdoor sports and classic architecture equals a great opportunity.
- Finland (373%). Like Sweden plenty of scope particularly as the home of Nokia and other multinationals in Helsinki
- Hungary (369%.) Prague and Czech republic a few years ago.
- Luxembourg (363%.) Small and very expensive property market, described as one for the high rollers.
- Germany (361%) Talk of a property boom as home ownership is very low in Germany and the government may be about to do a” Thatcher” of the mid 80’s and encourage private home ownership.
- Czech republic (360%) Look for weekend pads in central Prague, you can still find good value.
- Ireland (322%) Highest level of ownership in Europe and prices still going up.
- Austria (311%) good potential particularly in mountains and lesser-known ski resorts as spill over from France and Italy continues.
- Holland (308%) Small country but good growth expected.
- France (301%) Leave the Riviera and Dordogne alone and try The South West and the lesser-known Ardeche region for greater property investment opportunities.
- Italy (299%) Look at Sicily and the south eastern corner on the heel of Italy’s boot!
- Spain (289%)Forget the Costas although Costa de la Luz is more wild and beautiful than built up del sol and Brava. Try Valencia for good potential.
- Cyprus (288%) British favourite, still on the up, very popular. A good safe investment. Keep an eye on the North of Cyprus as it is being opened up to tourists after years of Turkish rule.
What about the UK?
Oh, we came joint 14th with Ireland, so just goes to prove that perhaps the grass is not always greener…
