The idea of investing in property in Europe is nothing new. For years, savvy investors have reaped the rewards of foreign markets, and even in the current economic climate, there are still plenty of opportunities to make handsome profits.
Here’s a rundown of 2014’s top locations for property investment in Europe…
Due to its miniscule size, Malta happens to be one of the most densely populated countries in the world. But the picturesque island is an extremely popular location, and has seen a huge amount of interest from foreign investors this year.
In particular, higher end properties have proven to be in vogue, with overseas property investors taking advantage of lower prices. Costs of properties in Malta dropped by up to 40% between 2008 and 2013, and with the global economy now recovering, there is plenty of scope for high returns.
2) Bucharest, Romania
Romania’s capital and largest city Bucharest is a beautiful metropolis that is seeing continued growth. The city’s infrastructure has improved dramatically in recent years, and it has continued to push ahead with further developments this year.
1,500 new residential units were completed in the first quarter of this year, compared with 900 in the same period in 2013. This rise has seen an 8% rise in property transactions during the same period.
3) Barcelona, Spain
Spain has always been a popular country for people looking to invest in property. With a thriving tourism trade and rich culture, it’s a magnet for many thousands of visitors who can drive healthy profits. But the country was one of the worst hit during the global economic collapse, with property prices falling dramatically.
As the country now recovers, the cultural hotspot of Barcelona has found some stability in its market, making it a desirable option for investors. The second quarter of 2014 was the first time in eight years that Barcelona has seen both property prices and sales rise together.
4) Rome, Italy
Italy was another country affected by the recession, with house prices again suffering. After seven years of property market struggles, the iconic and historic city of Rome is now seeing a renaissance in the sector, with investors for overseas snapping up properties for sale in Italy.
With prices still low from the previous years’ problems, the recovery is apace. In the first quarter of this years, close to 7,000 properties were sold in Rome; a 0.6% rise on the same period last year.
5) Berlin, Germany
The Berlin property market continues to attract strong interest from foreign investors, particularly the Russians. With a shortage of supply, there are potentially some interesting gains to be made from property investment in the German capital.
Low interest rates, a strong economy and a rising German population all mean that more properties are required; as many as 11,000 a year. Currently, only 6,500 are being provided, so those who invest wisely can expect to earn some handsome gains from the Berlin property market this year.