There is no better time than right now to purchase property in Europe, especially if you’re 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, here are the top 15 cities to buy property in Europe.
15. 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 backyards. 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.
14. Athens, Greece
Greece took a big hit during the economic crisis which has created a great opportunity to purchase real estate now. Athens, the capital of Greece offers year-round entertainment and inexpensive flights from the UK. However, it’s important to be wary about where you buy, just as you would in any major city. It may be best to consider an apartment in the city center or invest in the Kolonaki and Plaka neighborhoods as these areas are far more affordable.
13. Zagreb, Croatia
Zagreb, Croatia’s capital is a gorgeous city that is rich in history dating back to Roman times. It’s predicted that Zagreb will see serious growth in the next couple of years which means this is a city you’ll want to have on your radar. In 2018, the country only saw an 8.5% increase in asking prices for condos, however, condos located in Zagreb saw a 20% increase. Further, in 2019 there was a 30% increase in Airbnb homes located in Zagreb which is a great indicator that the city is seeing a surge in vacation rentals. It’s evident that the city’s real estate market is booming and if you want to get in before the prices reach an all-time high, now is the time to buy!
12. 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 is 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.
11. Feldkirch And Bludenz, Austria
Austria is experiencing a real estate boom which is making the secondary cities more appealing. This is because property prices in secondary cities like Feldkirch and Bludenz are far lower than major cities like the country’s capital, Vienna. Feldkirch and Bludenz are both charming alpine cities that are surrounded by stunning forest mountains. Both towns saw a 20% increase in real estate prices in the last couple of years which is higher than the country’s capital which came in at about an 18% increase. These low prices won’t last for long, so now is the best time to buy.
10. Beara Peninsula, Ireland
There has been a strong surge in demand for family homes in desirable areas of Ireland’s 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 quite inexpensive. 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.
9. 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.
8. Abruzzo, Italy
Abruzzo, Italy is a region that one may not think to consider when exploring properties in Italy but because it’s undiscovered it’s full of inexpensive properties. Abruzzo is full of charming ancient towns and has a landscape unlike anywhere else Italy from boasting hills to mountains. That said, you’ll still be able to indulge in all the things you love about Italy from delicious wine and food to stunning architecture and of course their hot summers. Purchasing a home in Abruzzo will cost you about $50, 000 US dollars, give or take depending on what town you choose to buy property in. Many of the homes are built of stone which helps to keep the homes cool in the summer and they’re also often equipped with open fireplaces to keep the home warm and cozy in the winter.
7. Rotterdam, The Netherlands
About an hour away from The Netherlands capital, Amsterdam is a quaint city called Rotterdam. Rotterdam is a port city and is full of hip art, plenty of shopping, and has a bustling nightlife. Most importantly, Rotterdam inspires so much innovation that it’s considered the architecture city of Holland. Rotterdam saw a 17% increase in home prices in the past year which far surpasses the country’s average of 10%. In 2019 properties sold in about 33 days which is 11% faster than in 2018. As you can see, the property demand in Rotterdam is growing at a fast rate, making Rotterdam a city you’ll want to invest in sooner rather than later.
6. Rennes, France
Rennes, France is rich in history, full of luscious green space, and has the appeal of a big city but on a much smaller scale. While there are 90 historic monuments in the old center, you will notice Rennes feels youthful. This is because over 200, 000 residents are students. Between the attractive property prices and the new High-speed rail that can get you from Rennes to Paris in about an hour and a half, there’s no wonder why Renne’s should be on your radar. But keep in mind the high-speed rail will continue to make this an attractive city so now the’s time to buy if you’re thinking of investing in property in France.
5. Plovdiv, Bulgaria
Plovdiv is one of the oldest cities in Europe and is the second-largest city in Bulgaria, right behind the country’s capital, Sofia. The town was built around seven hills which is a large part of the city’s history. In 2019, The European Union named Plovdiv the European Capital of Culture which made the city a big focus for the whole year. This title also sparked a number of urban revitalization projects that have caused the city to see steady growth in real estate sales that is consistent with the country’s capital. With the city holding the European Capital of Culture title for a full year now, it’s predicted that the real estate will sky-rocket even further making it a great city to buy into now.
4. 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.
3. Seville, Spain
Spain is a popular destination, between the pleasant climate, and stunning landscapes there’s a lot to see and do. But for those looking to buy a piece of real estate in Spain now is the time to do so. Spain’s economy suffered immensely during the economic crisis, however, after 2013 the decline started to slow. Now, the demand in real estate is beginning to grow again making it a great country to invest in. If you’re looking to buy property in Spain, the city of Seville is where you may want to start. This stunning city is famous for flamenco dancing and is home to major landmarks from the ornate Alcázar Castle complex to the site of Christopher Columbus’s tomb and more. The markets have shown that Seville has great revenue growth and for those looking to invest in a rental property, the rental demand is high as this city experiences low seasonality.
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, beehived 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 is an abundance of churches and palaces, medieval streets beckon you and craftsmen line the streets. This 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.
1. Lisbon, Portugal
Time and time again we hear 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 inexpensive 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.
