The real estate market in Europe has been strong recently, but where is the best place to buy property in Europe? With property investment a safe-haven asset that lets you build wealth over time, you’ll want a location with rising values but also still within your budget. Both commercial and residential properties can be expensive in certain areas. However, there’s little surprise that the low inflation rates and modest economic growth still attracts investors.
Whether you’re a first-time buyer seeking property in Europe or wanting to expand your current investments, here’s a list of the best place to buy property in Europe in 2022.
The charm of Paris is undeniable. There are first-class museums, Michelin-star restaurants, a great work-life balance, plenty of parks, and so much more. There’s no wonder why the property values continue to rise in this city. Many investors also find they can get high rental yields from their investments.
The France market, in general, was also extremely resilient despite the pandemic. The interest rates were also at incredible lows recently, so buying sooner rather than later can help you take advantage of this. Another perk about purchasing in France is they allow foreigners to get in-country financing.
Malta is a First World jewel of three islands in the Mediterranean that’s a quick plane ride away from most of Europe. The capital city, Valletta, is one of the most historic cities worldwide, with a timeless atmosphere and a hub for dining, shopping, business, and more. Purchasing property in Malta also gives you the benefit of a multilingual population speaking plenty of English, a welcoming culture, superb healthcare, a pro-landlord environment.
For budget-conscious investors, other affordable areas in Malta to purchase are St. Paul’s Bay, Marsalforn, and Xlendi. However, do note that Malta requires foreigners to spend at least €104,737 when purchasing apartments and at least € 174,514 when purchasing a house.
Cyprus is centrally located with easy access to London, Dubai, and the rest of Europe. For the best cosmopolitan lifestyle combined with old-world charm and rich history, you’ll want to consider investing in Limassol. The popular marina area is also filled with good dining and shopping.
The housing growth is stable, making it a great place to invest. It’s also relatively easy for foreigners to make purchases. However, UK nationals do have some restrictions. This includes a limit of one property and various permissions you need to apply for from the Council of Ministers.
Switzerland is a well-known Alpine destination and Davos is considered one of the high-altitude wellness resorts. It’s a major conference and sports center in both winter and summer. People are increasingly more aware of the importance of nature for health and wellbeing. Therefore, the property values of towns in the Alps’ are predicted to stay strong.
While Switzerland has restrictions for foreigners buying residential property, they can purchase holiday homes or a second resident if you commute to work in the country. Non-residents can also purchase commercial property with no restrictions if the property is intended solely for investment purposes.
Italy offers a rich culture and history, amazing Mediterranean climate, and delicious cuisines. Milan is one of the best cities to live in Italy, based on the international population, quality of life you can expect, and amenities, such as public transportation. Experts expect property prices here to resume growing in the upcoming years.
Generally, there are no restrictions for foreigners buying property in Italy. Your money needs to be well-documented and an international treaty must permit the purchase. However, EU citizens can make purchases without restrictions. For anyone buying an investment property, you could benefit from a government program that covers renovation costs to improve energy efficiency. Eco-friendly properties are a sure way to drive up value.
Located in the Algarve region in the southernmost area of Portugal, Lagos is an attractive location to have property. Visitors frequently travel there or stay for nature, beaches, leisure, and golf. Portugal has no restrictions for foreigners buying property, including no special requirements or paperwork. The Golden Visa program is also in place here where you can receive up to 5 years of residency before permanent residence status if you spend at least €500,000 on a property.
The only thing to look out for is potential scams, so make sure you have a real estate agent that holds a license number and registration in the Associacao de Mediadores Imobiliarios. You’ll also want an advogado, meaning they are a qualified lawyer.
Spain’s 3rd largest city, Valencia, is popular for its sports, arts, and culture. There are no restrictions here for foreigners to buy commercial or residential. The Golden Visa also applies for purchases over €500,000. Valencia also has one of the best property resale values, with property values predicting to rise from the area’s popularity.
Yes, Barcelona, Malaga, and Madrid are popular Spain locations. However, Valencia offers some more affordable prices for all the right amenities. The city is enterprising, filled with culture, see’s plenty of foreign trade, and ideally located, including the Port of Valencia’s important role in the city’s economic development.
Poland’s property investments are one of Europe’s best-kept secrets since the country is experiencing a booming pre-pandemic tourist industry. Krakow is the tourism capital, with people visiting to experience the rich history. There’s something for everyone from museums and historical buildings to quaint streets and a roaring nightlight. Buying costs here are also low enough for first-time buyers and you’re interlinked to other European countries.
Additionally, Krakow has a lively student population since it has 10 universities. So between students and vacation rentals, the high demand for rent in this city means you could purchase a reasonably priced apartment and quickly profit. However, you do need to purchase a special permit from the Polish Ministry to buy property in Poland.