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Brokers named the best European cities for real estate investments in 2020

In many European cities, real estate demand has skyrocketed, and finding a good investment opportunity has become much more difficult, Forbes writes.

Leading Real Estate Companies of the World, a community of leading global real estate companies, has named European cities that show signs of growth in the real estate market and are promising in terms of profit in 2020. LeadingRE is a global network of 565 independent brokerage companies in 70 countries.

Naples, Italy

Naples has always been a popular holiday destination. The city is an hour away by train from Rome to the Mediterranean coast. Popular with tourists, the islands of Capri and Ischia are located near Naples.

Real estate sales in the city grew by 15% over the past year. Housing prices in Naples start at 1930 euros per square meter, while starting prices in Rome are 3055 euros per square meter, Forbes writes.

“Demand growth is a kind of upheaval in the fate of the historic city of Naples, which is often overlooked due to its northern neighbors,” said Chris Ditz, vice president of LeadingRE. “Relatively low prices reflect historically depressed demand here,” he added.

Megeve, France

The interest of European investors in a ski resort in the French Alps of Megeve is growing. According to Forbes, the number of British investors buying property in Megeve increased from 5% to 15% in 2019, and buyers from Switzerland accounted for 25% of sales compared to 20% in 2018.

Prices for condo with two bedrooms in the style of a chalet or detached cottages start from 450 thousand euros.

One of the clear signs of growing interest in Megeve was the opening of several hotels last year, including the luxurious Four Seasons.

Szekesfehervar, Hungary

The unpronounceable name of the city is translated from Hungarian as “Throne of the White City”. In the Middle Ages, the city was the residence of kings.

Home sales in the secondary market of this city increased by 17% compared to 2018. The growing interest is associated with the modernization of the railway connection between Budapest and Szekesfehervar.

The city is on the way between two popular holiday destinations – Lake Balaton and Lake Velenz.

“The country’s economic prosperity and strong real estate growth make it an attractive option for those who want to invest. We are seeing a growing interest from European investors in the attractive Szekesfehervar market, ”said Ditz.

Batumi, Georgia

This port city is the third largest in Georgia. Most property buyers in Batumi are from abroad. In response to increased demand, 22,752 houses were built from 2018 to 2019. There are no height restrictions for new buildings in the city, so developers began to use these opportunities.

“Due to the large number of free sites in Batumi and the small restrictions on development, new projects are appearing in the city to meet the growing demand,” Ditz said.

“Investors from neighboring Turkey are also attracted by a city with more than 2000 years of history, as well as low prices compared to other European resorts,” the expert explained.

Porto, Portugal

Housing prices in Porto are still 30% lower than in Lisbon, despite sales growth of 15%.

Demand has increased due to the relatively more expensive real estate in Lisbon, as well as due to changes in rental laws that make it easier for lessors to make a profit.

Portugal is also one of the cheapest places to get a “golden visa” for investment. Foreigners buy every third house in Portugal, compared with every tenth three years ago.

Rotterdam, Netherlands

Rotterdam is the second largest city in the Netherlands after Amsterdam. The city still attracts investors who find Amsterdam too expensive.

Real estate has risen in price here by 10% per year. The average cost of housing has reached 2850 euros per square meter, but 20% higher for new homes.

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