Written by: Peter Minkoff
Finally, the real estate market is finished with its tantrum and we can see the signs of it calming down. And you know what that means: it’s time to invest. Europe is still under the strong influence of COVID-19 as well as Brexit, both of which proved many challenges but also opportunities for investors. Interested in buying a second home or simply investing money into the right thing? Here are the best European places to consider when investing in real estate:
Naples, Italy
Naples used to be and it still is one of the most popular spots for tourists in Italy. Due to its great position (it sits on the Mediterranean coast but is just an hour away from Rome) and amazing climate all year long, Naples has become a truly great place to live, much more comfortable and practical than crowded Rome. And when you need a vacation from your vacation, you can hop on a boat and visit nearby Capri and Ischia Islands. Prices are also very attractive, starting at $200 per square foot, which is great when compared to Rome and its min $315 per square foot prices.
Porto, Portugal
Lisbon, the country’s capital, used to be a very popular place for investors looking for a destination for their second home. However, in 2019 and 2020, Lisbon almost completely depleted its housing inventory, so today it’s very hard to find good deals. Luckily, there’s Porto, a nice coastal city in the northwest of the country where prices are still 30% lower than in the capital. The demand is rising quickly, due to lower prices and new more favorable rental laws, so it’s important to be decisive if you think to invest in Porto real estate.
Budva, Montenegro
Montenegro is still super underrated and undiscovered, but if you wait any longer, you’ll miss your chance to invest in this booming market. Budva is probably the most popular Montenegrin spot for both international visitors and locals. It’s full of stunning beaches and great nightlife opportunities as well as beautifully preserved historic heritage sites. With its 17 beaches and 21 km of coastline, it’s easy to find real estate in Budva with breathtaking seaside views. No matter if you’re looking to invest in lux beachfront villas, high-rise apartments or modest houses that require a bit of work, you will find your match in Budva for amazing prices.
Rotterdam, the Netherlands
The second-largest city in the Netherlands, Rotterdam is a true River Maas jewel. Rotterdam has the largest European port for which it is nicknamed the “Manhattan on the Maas”. If you’re looking for a well-developed and urban center for your investment, Rotterdam won’t disappoint. While Amsterdam is still a good choice, Rotterdam is a safe port (excuse the pun) for all those who want to invest but can’t afford astronomic Amsterdam prices. Still, it’s not realistic to expect low prices here. Starter prices go just under $300 per square foot, and new construction homes go for about 20% more.
Vienna, Austria
Vienna is popular for its great culture scene, majestic architecture, great art and even better music, especially classical music created by old masters like Johan Strauss. The capital of Austria is timeless, and everywhere you turn, you can see a beautiful and functional blend of modernity and tradition. Austria also has amazing healthcare, education, infrastructure, safety and eco-friendly habits. If you want to invest in top luxury in Vienna, 19th District is the wealthiest spot in the entire city, with many new building projects that blend technology and high-end design.
Europe is the perfect second home location for many and an even better destination to invest in real estate. While every country and city has its unique circumstances, these mentioned above will definitely satisfy your investment spirit and fit your budget and lifestyle.
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