Don’t be put off by Brexit; there are still plenty of financially sound reasons to invest in a holiday home in Europe. Stick to the fundamental rules of getting a good property in a great location and there are serious returns for the savvy investor.
Rock-bottom interest rates mean that bank savings are gathering dust and mortgage lending rates are at a record low. At the same time income from holiday lets is at a record high, and with more regulations being imposed on buy to let, it’s easy to see why investors are switching to overseas holiday homes. If you are thinking of making the move here are the hottest places to invest in Europe:
Spain: Canary Islands
Given that Spain is Britain’s favourite holiday hotspot it’s hardly surprising that it’s our most popular place to buy property abroad. Surprisingly since the decision to leave Europe there’s been a record number of searches for properties in Spain. The Canary Islands claim six of the ten most desired destinations and with year-round sunshine it’s easy to see the appeal of island life.
France: The Alps
If you want an affordable holiday home in France forget the overheated Mediterranean market and head for the hills. Properties in the Alps appeal to hikers in summer and skiers in winter; meaning you can generate a steady income for much of the year. Buying property in neighbouring Switzerland or Austria can be a bureaucratic headache, plus France does have that certain savoir faire. Rumour has it that Alpe d’Huez and Les Deux Alpes are soon to be connected to form a ‘super resort’ which could make for a super investment.
The capital of Portugal is currently undergoing something of a renaissance and large swathes of the city are being gentrified. Lisbon’s historic heart has plenty of city centre apartments going for a song and crying out for renovation. It’s a laid-back place where days tick-by slowly on the beach and nights are spent partying; it’s also well served by budget airlines.
As you travel down the boot of Italy the property prices fall making Puglia the perfect place to buy a holiday home. Often overlooked by the Brits in favour of the manicured fields and hilltop towns of Tuscany; Puglia’s charm lies in the fact that it isn’t polished. Besides being easy on the wallet it’s also very easy on the eye; boasting pristine beaches on the Adriatic and a patchwork of olive trees and vineyards inland. Holiday homes come in all shapes and sizes from traditional beehive-domed ‘trulli’ to smart countryside villas.
Since the economic crisis property prices in Greece have dropped by a quarter and the number of visitors keep increasing year-on-year; making it a great place to invest. The island of Crete is a favourite with British expats and is much less developed than some of its nearby neighbours. The island is littered with ancient monuments, boasts stunning mountain scenery and over 1000km of glittering Mediterranean coast.
If you are looking for overseas holiday home insurance you’ve come to the right place. Our online ‘Quote & Buy’ system means you can get a competitive quote and arrange cover anytime and anywhere. To find out more visit our overseas holiday home insurance pages or Tel: 0161 874 7753 to speak with a consultant.