"Spain and Portugal are ripe for property investment this year. Iberia is definitely the place to be looking right now."
So speaks Chris White, Founding Director of Ideal Homes International, when asked about his recommendations for places to invest in property within Europe. He continues,
"2016 is a tale of capital cities and beaches when it comes to property investment. In Portugal it's Lisbon that is offering some of the most enticing opportunities, while in Spain the sun-kissed Costas are definitely the places to find the ideal investment property."
Portugal's Lisbon was highlighted recently as one of the highest ranked cities in Europe for property investment, with PwC and the Urban Land Institute's Emerging Trends in Real Estate report awarding it seventh place overall. The city is know for its rich history, fabulous architecture and late-night party scene. It is a major tourist destination, attracting some 3.5 million visitors per year. In fact, the MasterCard Global Destination Index revealed that Lisbon has the fourth highest growth rate for foreign visitors in Europe. Since 2011, the city's visitor numbers have risen by 42%.
Lisbon offers vast choice when it comes to property investment. Buyers can choose from stunning contemporary apartments in the heart of the city to luxury condominium townhouses with pools, tennis courts and a host of other facilities.
Meanwhile over in Spain it is all about the Costas when it comes to property investment. The Costa Blanca is awash with high quality properties at great prices, including beachfront apartments that are ripe for investment. Over on the Costa Cálida buyers can choose anything from spacious villas to off-plan townhouses.
Spain and Portugal's position as top investment destinations is lent further weight by the findings of the Organisation for Economic Development, which has examined property markets around the world to find those that are the most overvalued and the most undervalued. Southern Europe, including Portugal and Spain, was found to have some of the lowest price property. Spain's property market was noted as being undervalued by 26%, Portugal's as by just over 7%.
According to Ideal Homes International, it is resale properties that British buyers are most interested in in Spain right now. Resale properties account for 76% of sales, compared with just 24% for new builds. While new build developments remain popular with buyers from Scandinavia and Belgium, many Brits are looking for resale townhouses and apartments that they can invest in as a nest egg for their golden years, as well as for properties that can earn them income as holiday lets.
"There are some serious bargains to be had in Iberia at the moment," concludes Ideal Homes International's Chris White. "Portugal and Spain offer a wealth of great opportunities for buyers looking for investment properties, as both enjoy thriving tourist markets, meaning there is good scope for profiting from a rental property. Of course, both countries are also fantastic places to visit, so there are lifestyle benefits as well as potential financial benefits to be had from owning a second home in them."
For further details call Ideal Homes International on 0800 133 7644 or +351 289 513 434, email info@idealhomesinternational.co.uk or visit www.idealhomesinternational.co.uk.
