In our recent research, we looked at Spain, Portugal, Greece, Ireland, and Italy as the best places to buy a home. In this blog you’ll find out about the rising house prices in these countries. If you’re ready to buy, read on! Here are a few reasons why you should consider buying a home in one of these countries. In addition to the obvious reasons of convenience and affordability, these locations are also ideal for real estate investment.
Spain
If you want to buy a property in Spain, you should know that setting up utilities can be a painstaking process. While the previous owner may have set up policies, you should compare costs for utilities like water and electricity. In addition, waste management is managed on a municipal level, so you should be aware of annual fees for rubbish collection. Spain is an increasingly popular destination for overseas buyers, so you must exercise caution to avoid shady estate agents and developers.
Portugal
If you’re interested in investing in Portugal property, you’re probably wondering if this is the right country for you. First, you need a Personal Fiscal Number (PFN), which you can obtain at your local tax office. A PFN is a government-issued identification number that is useful for making regular payments and transferring money. It’s also necessary for you to have an account in Portugal.
Greece
When you’re buying property in Greece, there are several things to consider. First, determine your budget and availability of mortgage. You also want to check what additional costs are involved, like taxes or VAT. Also, make sure to ask about the property’s state of preservation. In Greece, a small deposit, usually ten percent of the price, reserves the property. Once you’ve decided to purchase a home in Greece, you should visit the property you’ve selected to make sure that it will be maintained properly.
Ireland
While Ireland’s real estate market is attractive to certain types of buyers, you shouldn’t forget that there are many other options in the continent. While Ireland is one of the most affordable countries in Europe, buying property there is not a good plan for residency. Thinking globally opens doors to a wealth of opportunities. In this article, we’ll look at some of the advantages of buying property in Ireland. This is a short guide on the advantages and disadvantages of buying property in Ireland.
Serbia
When you consider the cost of living in Europe, Serbia is a good option for an investment. The country’s real estate prices are the highest in the EU in relation to average income, which means that future growth is already baked into the current price. You can also find very low mortgage rates – API Bank and the largest local bank are offering non-resident mortgages for up to six million Euros at EURIBOR + 6.50% and 3% respectively. While such low yields are acceptable from a cashflow perspective, they only make sense if you’re a local planning to live in the property, and they are unlikely to work for anyone else.
Latvia
The Latvian government offers a residency permit for those who purchase property in the country. This residence permit is valid for five years, and is extended to family members. The country is a member of the Schengen area, which means you can travel freely in the European continent without any restrictions. As a result, you can enjoy many benefits of purchasing property in Latvia. If you are interested in investing in Latvia, you should take the time to learn more about the requirements and procedures.
