Many UK nationals and foreign expats are turning to the European Union when it comes to investing in property. Not only is the EU a popular destination for global expats to explore exciting career opportunities, it’s also an attractive destination for expats looking to purchase holiday or retirement homes. So if you have your eye on a place abroad, what countries give you the most in terms of value?
European countries to consider when investing in property
Not only is Italy home to wonderful food, a rich culture and amazing historic landmarks, for the property buyer it has the added attraction that its house prices have fallen for the past eight years. Popular cities like Rome, Florence and Venice still command high prices but as you move further afield, you’ll find all types of properties to suit your budget – whether you prefer a villa in the country or an apartment in town.
Portugal is a popular holiday destination featuring warm weather, white beaches and wonderful food. It’s a country where house and property prices are still relatively affordable – however they have been on the rise since 2014 when the economy started to strengthen again. Even so, if you are looking for a Portuguese Quinta (vineyard or farm) or a lovely villa, you might be surprised at how reasonable they are.
Spain has plenty to offer when it comes to property – from hillside villas to island homes in Tenerife and Lanzarote, Spain often both diversity and great value. This is due to a large oversupply in property, which has resulted in Spanish property remaining undervalued by around 25%. So if you’re dreaming of tapas, a spacious villa and loungers by a sparkling pool – put Spain at the top of your list!
France has always had great appeal for foreigners. Home to fabulous cuisine and ready romance, it’s easily accessible from the UK and the rest of the EU. When it comes to property however, UK expats might find prices to be more reasonable than back home, but their pounds won’t go as far as they will in Spain or Portugal. If you are looking for property on the cheaper side, avoid Paris, Bordeaux, Nice and Lyon and look further afield.
Get the best advice on your exchange rate
Once you have decided on a property you would like to purchase, the next step is to establish the purchase price. The purchase price will be quoted in the relevant local Currency. It is therefore important to convert this value to Rand. We offer a total solution to facilitate the purchase of property overseas. We tick all exchange control boxes and ensure the international transfer meets all Reserve Bank and SARS requirements.
The benefits of using finglobal.com to transfer your money includes:
- faster processing
- more competitive exchange rates
- direct access to the Foreign exchange dealer
- online documentation completion
- low transaction fees
If you’re buying property abroad or planning on immigrating and need financial advice, contact us today and we’ll help you on the path to financial freedom in your new home.
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