2019’s Best Real Estate Markets in Europe sans Brexit
The impending "Brexit" is a big issue for most European Union members and the real estate world recognizes it. Forbes reported that companies in the UK are leaving en masse, looking for new centers of commerce to set up shop in. These cities and countries within the EU, however, are the preferred choices for these real estate companies.
London, Paris, Geneva, and Monaco have emerged among European Union countries as the 'best and brightest' in the past. Other cities, however, have constantly caught up. Emerging European markets--according to Chris Dietz, executive vice president of LeadingRE, a consortium made up of 70 countries with 600 international property brokerages--have become proof of the importance of European resurgence to investors.
Additional cities to the list have included Lisbon, Portugal; Plovdiv, Bulgaria; Feldkirch and Bludenz, Austria; and Rotterdam, the Netherlands. Of these cities, the Croatian capital of Zagreb stood out as one of the best emerging real estate markets for this year.
Zagreb became a natural selection, according to Croatia Week, since it's real estate market had been experiencing 'explosive growth.' The country welcomed its first digital real estate company, A Nekretnine, recently, and condos' asking prices have increased by 20% only last year. Airbnb-listed homes, meanwhile, have increased to 30%.
Sales portal Njuskalo listed that the asking price for per square meter values has actually multiplied by 10% year-on-year in Zagrab alone. That is good for October 2018's average asking price, which was listed at €1,933 per square meter for apartments alone.
The second city, Lisbon, was a popular destination for what it offered--a scenery to make homeowners and investors feel as if they're on permanent holiday. The demand for property in this city has made prices "skyrocket." The popularity of the destination also has the 'golden visa' system to thank, a process where foreign buyers who invest in underdeveloped or upmarket places gain faster citizenship than most.
Plodiv in Bulgaria and Feldkirch and Bludenz of Austria rounded out the properties because of their unique offerings; The Bulgarian suburb have re-purposed large parts of once-industrial areas to become residential centers. Meanwhile, the Austrian city has a mix of low-priced homes located in locations that are near to major destinations.
As for the Netherlands, the location of Rotterdam--as well as the prices--have made it very attractive to investors. This has become an open market to individuals and companies who are considering moving away from Britain, once the Brexit initiative is in full effect.