The 7 Best Cities to Buy Property in Europe

The 7 Best Cities to Buy Property in Europe

There is no better time than right now to purchase property in Europe, especially for foreign investors or retirees who are looking to snag a hot deal. Whether you are looking to settle down in an Irish cottage where waves crash against the dramatic cliffs or you’re looking to earn rental income in the heart of Turkey, now is the time to get into the European property market. From the North to the South, Europe is a hot spot for investors, retirees or anyone looking to grab that second home. Here are our top 7 choices for the best cities to buy property in Europe right now:

7. Istria, Croatia

Head to Southern Europe to the super affordable corner that is Croatia’s Istrian Peninsula, where apartments and houses are cheap. Croatia borders the Adriatic Sea and offers two appealing retirement lifestyle options, whether you want to be on the coast or inland- where meadows, vineyards and olive groves are your backyard. The Romans invested in some of their best buildings here back in the day, as did the Venetians when they ruled. What that means for retirees here is a landscape full of fortresses, bell towers, and an architectural legacy.

Rovinj at sunset, Istra region, Croatia.

6. Algarve, Portugal

Home to more than 100,000 resident expats, it is clear that for decades this place has been the hot place to buy. Luckily for those looking to experience the 3,300 hours of sunshine per year this place gets, the market is still affordable. The Algarve’s 100 miles of Atlantic coastline are full of jagged rock formations, lagoons and sandy beaches. The waters are azure in color and the cliff-top vistas are spectacular, Add in 42 golf courses in the region, plenty of time for sailing and boating and you have yourself one heck of a place to live. Plus the average price per square meter for real estate is just $1,345 US, a pretty good bargain for a pretty special place.

Algarve, Portugal

5. Beara Peninsula, Ireland

There has been a strong surge in demand for family homes in desirable areas of Ireland main cities, but that shouldn’t discourage buyers who are looking to purchase in Ireland, it just means you need to go elsewhere. The buying place right now is on Ireland’s Southwest coast, that is if you are looking for a charming cottage or seaside house. This is not where you want to buy as an investor but instead, as a homeowner. The Beara Peninsula is the largest and most remote on this coast and houses here are going for cheap. Locals here are opting to buy new houses rather than renovate old traditional farmhouses and prices are rock bottom. Think $80,000 US for a typical Irish farm cottage that is steps away from the ocean and needs a little fixing up. Giant waves crashing onto cliffs, miles of sandy beaches, mountain range and warm air- there seems no good reason why we all shouldn’t be buying a second home in this beautiful country.

Beara Peninsula, Ireland

4. Istanbul, Turkey

Turkey’s property market wasn’t hit as hard as others in the world in the years 2008 and 2009, with recovery times only take about a year and a half. Despite that, Istanbul remains a bargain when it comes to real estate with starting market prices at about $1,000 a square meter. Turkey is a country of the future, with half of its population younger than 30 years of age, which means the time to invest, is now. With the economy growing and being diversified between Europe and Asia it is easier than ever for foreigners to invest here. A construction boom is also taking place in Istanbul as half the current housing stock in the country needs to be replaced or renovated, thus making it easy to get in on buying pre-construction apartments. Getting in early on a new build means discounted pricing and the expectation of price increase over the construction period. The time to invest in Turkey is now.

Istanbul, Turkey

3. Budapest, Hungary

There is great value to be found all over Budapest and the time to get into the market is now, when others haven’t. From 2007 to 2014 the market in Budapest was in a major slump, causing housing prices to hit rock bottom, and it is only now that they are starting to recover. Budapest is truly a beautiful place, both to live and work and that is great for any investor when it comes to real estate as the demand for rental properties continues to increase. Budapest also happens to be a year round tourist destination offering amazing bathhouses, dining options and architecture; drawing visitors who often seek out private rentals to stay in. With good yields, low to moderate transaction costs and pro-landlord laws, it is easy to understand why buying property here is the right choice.

2. Apulia, Italy

This is the region that forms the heel of the Italian boot, a region not always thought of when you speak of Italy. But it is here where you can find low-priced properties in a stunning setting. Trulli houses, bee hived shaped rural houses are the norm around here and there are plenty on the market for less than $100,000 US. Apulia features numerous sandy beaches on two coastlines, country land overflowing with vineyards and olive groves, and a slew of historic towns worth exploring. Living costs are low, there are an abundance of churches and palaces, medieval streets beckon you and craftsmen line the streets. This unspolit, laidback, eccentric area is perfect whether you are buying a second home or starting over in life. A true bargain for a slice of Italian history, loaded with incredible scenery and people.

Apulia, Italy

1. Lisbon, Portugal

Time and time again we here that this is the most affordable capital in Western Europe and it’s a wonder how long this will last as foreigners start to grab up cheap houses. For now though it is quite inexpensive to buy here, a 2-bedroom apartment in a charming neighborhood will set you back about $100,000 US. Lisbon is a city where you can enjoy a European lifestyle, complete with history, romance, astonishing hospitality, and a seaside location for Latin American prices. The climate here is mild, the amenities are plenty and the people are among the most polite and friendly. With a low cost of living, charming hilly narrow streets and the sea at your fingertips. This is the perfect place to scoop up a second home.

Lisbon, Portugal
ADVERTISEMENT

More on EscapeHere

Comments