The real estate business in Europe has been in a constant state of flux over the course of the year. Brexit is a political movement that has shaped the course of European politics, and now investors are trying to figure out where outside the United Kingdom, they can invest in a second home for good financial profit. The political decision making of Brexit, however, was not in favour of Britain which led to a tremendous pressure to purchase property before the deal was done, which had detrimental effects on the economy of Europe. So here are a few cities across the European Union where it is possible to enter the real estate business and quickly turn a profit.
Naples, Italy
Naples has seen a significant rise in property sales. It has always been a popular destination for holiday goers and being only an hour from Rome by train, on the coast of the Meditteranean sea and having the Capri and Ischia Islands nearby and with a warm overall climate, Naples has become a good alternative to living in the densely populated city of Rome, while still enjoying a similar vibe. The prices of property in Naples start at around 200 dollars per square foot in comparison to the lofty 315 dollar starting prices in Rome. It almost seems as though the historical city of Naples, which was often overlooked by its northern counterparts, is now getting the reversal of fortunes it most certainly deserves. The relatively low prices also indicate the historically reduced demand in Naples.
Megeve, France
Year-round outdoor recreation is something the alpine community of Megeve is known for. In addition to being a Tour de France stage 5 years ago, Megeve has seen an increased interest from several different European countries mostly attracted to the ski resorts that are part of the Mont Blanc mountain range. For example, buyers from Britain have increased considerably, from 5 per cent to 15 per cent over the past twelve months, and the sales in Switzerland account for 25 per cent, which is more compared to the 20 per cent sales in 2018. The prices of property normally start from 500 thousand dollars for two-bedroom condos built in chalet style or freestanding cottages. The increased interest in Megeve could be due to the increased rising or more and more hotels in the place, quite notably the luxury Four Seasons hotel.
Székesfehérvár, Hungary
Yes, the name is hard to spell, but do not get put off by it. This secondary real estate market has seen a 17 per cent increase in the home sales when compared to 2018, mainly because of the easy to access rail link from Budapest to Székesfehérvár. It also happens to be on the route to two famous recreational spots, Lake Velence and Lake Balaton.