Real estate is one of the best investments you can make if you’re looking to diversify your portfolio. It can help you generate passive income and can provide you with lucrative returns if the property increases in value over time. It can be a great way to build and add to your personal wealth. And while there is some debate on whether Europe is worth making a real estate investment in, there will always be a level of volatility to any market. There will always be something that causes concern over any region. If you’re considering buying a residential property in Europe, here are some of the best cities to explore.
Leeds, England
Leeds is one of the biggest cities in West Yorkshire, England, and it’s a thriving metropolitan filled with that’s boasting of economic growth and an expanding population. Many students, young professionals, and business owners are flocking to this ambitious city, thanks to its livability and economic potential. It boasts a 1.37 million workforce, and employment is set to increase by 6.5 percent in the next decade. It’s also considered one of England’s biggest tech towns. Consult with a real estate agent to find the perfect property that can suit your budget, vision, and financial strategy—and be assured that there will always be a young family or a single professional looking for a place to stay in this thriving metropolis.
Athens, Greece
Greece experienced crises of various kinds in the past decade, from economic strife to social unrest. The nation’s property values reflect this turmoil, with the cost of a house reaching about $2,116 per square meter. And now that the nation is opening up again through increased flights, and with central suburbs being gentrified, Athens is on its way to becoming a bustling and dynamic city set against a crystal blue coastline and rich culture, history, and legacy.
Algarve, Portugal
There’s a reason why Portugal is synonymous with “retirement escape”—it is home to more than 100,000 resident expat retirees. There is no denying that its sunny days are tempting for those who want to escape the humdrum of their old neighborhoods, and the Portuguese city of Algarve is known for embodying the best of what Portugal has to offer. It’s both a wonderful escape for those who seek sunlight and those who dread Northern Europe’s coldest seasons. Since it’s one of the go-to places for many retirees across the globe, you will be sure to find a lovely senior tenant or two should you decide to invest in a property in this stunning city.
Istria, Croatia
Perhaps most known for being the location of one of the most popular TV shows of all time, Croatia’s Istrian Peninsula is known for its iconic vineyards and olive groves, as well as meadows and Roman and Venetian-inspired historic buildings. It’s also another enticing location for retirees since its coastline evokes feelings of peace and tranquility. Houses and apartments also have a reputation for being on the more affordable side, so you might be able to snag a decent property without breaking the bank.
Bucharest, Romania
Bucharest is a Romanian city that recently saw restoration. With its sidewalk cafes, historic churches, walking streets, museums, and restaurants, it exemplifies the best of Europe’s culture, urban history, and enduring love for the arts, education, and architecture. All this and more are why Bucharest is considered the “little Paris of the East.” While Romania uses a different currency even if it’s part of the European Union, real estate is still priced in euros, which means that real estate investors from the U.S. can still benefit from the strength of today’s dollar.
Additional tips
Before making big decisions, make sure that you have researched the market as thoroughly as you can and understand trends like the back of your hand. While global property trends do happen, no one rule is the same for every city in the world. Do your homework and reduce your risk of being scammed or losing money on sunk costs.
It should go without saying that when investing in real estate, you need to find the best and most reputable team of professionals to help guide you through the process of acquiring the property. You will also need to enlist the services of a lawyer to help ensure that your rights are protected at all times and that there is someone fully capable of representing you during contract negotiations, and to help you with the documents in the final stages of closing the property. Do your homework, trust the right people, and make sure everything is above board. Good luck!
