Subjects: SVY, ECO
Valencia (Spain): Best European City to Buy Property in 2018
NEW YORK, June 13, 2018 /PRNewswire/ -- WIRE Consulting, independent company specialized in International Real Estate services, sees 5 top opportunities for American investors to buy property in Europe.
Here is the ranking of the 2018 survey:
1. Valencia (Spain)
2. Paris (France)
3. Berlin (Germany)
4. London (United Kingdom)
5. Venice (Italy)
Reasons to choose Europe
1: The strong current US Dollar to Euro exchange rate. American buyers can expect a positive outlook if choosing to invest in European Real Estate.
2: Geo-political stability throughout Europe and market performance benefits.
3: European cities are best known and appreciated for their culture, history and cuisine.
4. Excellent standard of living as well as an opportunity to amplify investments in real estate.
As a result, European real estate purchases made by American citizens have increased since last year (UK +2.6%, Spain +2.5%, France +2.4%, Italy +1.9% and Germany +0.85%).
Valencia
Valencia has seen an increasing presence of foreign buyers after its market crisis. With relevant capital inflows, infrastructural projects have since been under development, selling for an average price of $195/sq. ft., half that of those in Madrid and Barcelona. The percentage of foreign investors on overall real estate transactions in the central area of Valencia is more than 30%, 18.2% higher than 2017.
Paris
Paris has also seen a growth in its market after a period of political uncertainty, thanks to undergoing urban requalification projects. Its real estate market continues to see stability, offering relevant appreciation margins and high transaction costs. Property prices have risen since 2017, reaching $1,012/ sq. ft.
Berlin
Berlin has seen a 8.9% increase in price per square foot since 2017, averaging $450/sq. ft. in the city center and $380/sq. ft. in the suburbs. Although apartment sales have slightly decreased, attic flats and penthouses have shown a large increase in total transactions due to the strong demand of international investors.
London
Known to be the most developed financial sector in Europe, London attracts 69% of international buyers compared to the 31% of national ones with average price per square foot landing around $2,260.
Venice
The uniqueness of Venice makes it a wonderful place to own property for both personal use and investing. Average prices in the cheapest neighborhoods average around $390-$545 sq. ft., whereas fully restructured luxury properties in top-locations range from $1,338 sq. ft., to $2,230 sq. ft.
SOURCE WIRE Consulting
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