European properties: Where is the best place to invest?
While the UK struggles to pick itself and the pound back up after Brexit, while feeling the effects of the vote on banks, airlines and property shares, those who do have money to invest should look to the rest of Europe now before the full impact of the referendum takes place. After all, London has already fallen out of the top 10 list of European cities to invest in for 2016, due to overpriced properties and high cost of living. So, let’s take a look at the locations that will get you the most for your money:
Germany’s capital has been tipped as a hotspot for property investors, looking to cash in on the high expectations that come with city living and tourism. Lower living costs are driving people into the city, as well as growth in the creative industry and technology sector. The city is enticing because there is plenty of land available for developers to build and expand upon, ready for those looking to make a move to the city of culture. If you have the cash to build new properties this is the city to consider.
Amid rising housing prices there are still some bargains to be had in the Portuguese property market and there are also plenty of experts at hand to help you select one that will see a good return on your money – click here for one such example. Great for those who are looking to invest to make money from tourists, the Algarve is a good spot to begin your search. The Golden Visa scheme, which allows investors to obtain EU citizenship via investment in property, has seen an influx of properties exchanging hands recently and is one reason why the market has seen improvement since 2012 when it was introduced.
The nine islands of the Azores are proving popular when it comes to tourism and therefore investors who are taking advantage of the low property prices and the business opportunities around fishing and farming. More people are becoming aware of these beautiful islands, so it’s best to make your move now before the good properties are all snapped up, although developments might start in the future to accommodate an influx of tourism.
Riga, Latvia’s capital, is quickly gaining in popularity when it comes to investment in the European market as it offers high GDP growth, a pro-landlord sentiment when it comes to renting and low rental income tax rates. It’s a great location for tourism, as it offers plenty of cultural tourist locations and sits at the mouth of the River Daugava with beaches and water activities for visitors to enjoy.
Consider one of these popular places to invest and choose carefully whether to sell the property on or rent – rent taxation has been on the rise recently in Europe and can impact greatly upon the income you receive via an overseas property. Seek advice before you sign anything and choose a location where you would perhaps live yourself.