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Europe offers some of the most attractive cities with an affluent lifestyle where many overseas investors want to own a second home. Currently, the phase of Brexit induced transformation in regional markets where a number of firms are leaving the UK to set up their centres in other prime cities of the continent. The property investors are trying to locate places where they could allocate resources before the area becomes unaffordable. London, Geneva, Paris and Monaco continue to command Europe’s highest property prices.
There are many other emerging cities that are increasingly gaining popularity with international buyers, offering excellent returns. Lisbon offered the golden visa scheme for international investors that resulted in 20% growth in property rates in last one year. According to a report from Caetano Real Estate, the city already had a lot of interest in new luxury high-end developments from German, South African, Chinese and French buyers, and there is growing interests from Canadians, Brazilians, Americans, and Italians. Similarly, Bulgarian and Austrian cities have witnessed double-digit growth in the last year. In the Czech capital, Finep 35 to 40% of the newly built properties were bought as an investment.
Investors may buy flats to stay abroad or rent to a small group of travellers. In the mid-2000, the British investors were spending on flats in new developments in other EU nations but today people from other European states are buying apartments as an option for retirement. Chinese buyers are contributing to a large extent to the growth in demand in apartments in Europe.
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