The Best European Countries to Invest in Property
We might be leaving the European Union one way or another, but there are still great ways to make money on the continent through well chosen property investments.
Buying property overseas has a lot of advantages. It does not just give you good returns on your money but also provides citizenship options and a potential passport into the EU even after the UK departs.
It won’t come as any surprise that Spain remains a firm favourite with British investors. Whether it is for those looking for a home in the sun or a rental opportunity, properties for sale in Spain have a lot to offer an investor. After a slight slump, the market in Spain seems to be reinvigorated with many looking to complete deals before Brexit is completed.
There are a number of lower cost property options through the Costa Blanca that offer an appealing combination of a pleasant climate and an easy lifestyle. However, there are also more luxurious options available in Marbella and Estepona.
For those looking for the best Spanish property deals, it is best to look past mainland Spain and move towards some of the glorious islands that Spain boasts, such as Lanzarote in the Canary Islands thanks to its year round good weather. The Balearic Islands also have an appeal, with Ibiza proving to be the top choice.
Another favourite with the British investor is France as it not only offers good weather but also a great mixture of scenery, culture and fashion. If you want to find a French property hotspot you need to head to the south-west, where the Dordogne, Charente and Brittany are all proving to be extremely popular.
Portugal is one country that is climbing the ranks of investment popularity. It is affordable, even in the capital Lisbon, and provides and friendly and laid-back culture. Porto and Madeira have also proved to be increasingly appealing to property investors who would ordinarily have looked further afield.
As you would expect, the Algarve is the main attraction to British buyers. Areas such as Lagos, Albufeira and Vilamoura are top of most shopping list, with large numbers of Brits now owning property there.
Another lifestyle that seems to be influencing investment is the Italian one, with many celebrities leading the way. As ancient history meets culture and style, it is a firm favourite with those looking for a more in vogue destination. As the country is still trying to recover from its own economic crisis, the Italian property market is sluggish and low-cost airlines have now meant that trips to cities such as Milan and Venice are a lot more affordable.
Cyprus might only be small but it is big in European popularity. The typical tourist appeals have meant that it is always popular despite its economic difficulties. The home-from-home feel has led to 65,000 British people to relocate there, and the Cypriot Golden Visa scheme gives investors who meet the right criteria a residency permit that could prove valuable after Brexit.
Picturesque islands, ancient history and a country in debt means the Greek property market has proved popular with British investors. Tourism has remained high throughout the economic crisis that Greece has suffered, and those tourists have been welcomed with open arms. Prices have dipped by around 30% in many areas, drawing cash-buyers and those looking to take advantage of another Golden Visa scheme.
Boasting the European City of Culture for 2018 might be one reason why Malta is so popular at the moment. Despite being tiny in size, it seems to be mightier than ever in its attraction to property investors. It has three UNESCO world heritage sites, an appealing Mediterranean lifestyle and an appealing political situation thanks to a stable government, buoyant economy, benign tax regime and established property market.
As English is the second language in the country it has proved popular with those looking to spend time on the island, and the Malta Retirement Programme means that income is taxed at a flat rate of 15% making it a great choice for the more mature investor.
The popularity of Turkey has dropped recently due to concerns over security and questions over the way the government runs the country. However, this does not deter many from putting their money into the extremely affordable property there. Istanbul is the top destination for many, but Antalya on the south-west coast is also a popular choice.
For those wanting to invest in property, Europe has a great number of options available that present terrific rental opportunities, good buying prices and enjoyable lifestyles.
For more information on UK property investment or investment overseas, please contact Hopwood House.