For most of us, the 2018 means new plans and resolutions.
Whether it’s saving your money for something or learning a new hobby, we all chose to welcome in the 2018 in our own way. If you are planning on investing in a holiday home or are even hoping to retire abroad this year, it pays to know where the best places to look are in terms of prices and desirability. The markets are hotting up in a number of popular destinations so read on for recommendations of the best places to purchase property in the EU this year.
Spain has always been the most popular choice for Brits looking to move abroad and this year is set to be no exception. The market is Spain has been subject to a number of booms and busts but it seems that this year things are picking up and will continue to improve. Sales have been particularly strong in certain regions, namely Madrid, where there has been a growth of 61%. Prices are also increasing in Spain and there was a steady increase of 4%month on month last year.
Portugal is another popular choice but hasn’t garnered quite the same attention that Spain has over the years. That could be set to change though, as more people begin to appreciate the good weather and even better value for money that you can enjoy when you purchase in the region. Residents can also enjoy the Golden Visa program and a number of other tax benefits that are available to retired people. Mortgages are available up to 80% loan-to-value but better lending terms are available for loans of 70% or less.
France is remaining a go-to destination for Brits looking to purchase abroad for a number of reasons. Firstly, there are excellent transport links to the region, making it accessible for quick breaks in the summer or unplanned weekends away. Mortgages are also available up to 80% loan-to-value Interest rates are currently available from approximately 1.50%-2.00% above 12-month EURIBOR.
Things to consider when purchasing abroad
While purchasing a property abroad is something that many of us want to do, there are a number of risks that are associated with it. Property markets can be changeable, and you could find yourself in a situation where you are having to deal with negative equity.
The effects of Brexit are still not completely known and this could also be something that could shake things up.
Here at EU Property Solutions, we are committed to providing advice and guidance to anyone who is dealing with issues regarding European property.
Whether it’s negative equity, lost deposits or repossession, we can help you find the best resolution for your individual circumstances.