Cities Where Most Home Buyers Are Moving To
Homeownership is the dream of every person all over the world. However, the high cost of houses in some places like London drives people away as they move to other cities where the prices are fair.
Apart from prices, other factors can attract home buyers in a city. These factors include the geographical location of a city, the political stability of a country, and the investment opportunities in a city.
Where Homebuyers Are Moving To
There are several cities which have recorded an influx of new home buyers from other areas. In these cities, the number of foreign home buyers is rising compared to that of the local owners. Here is a list of the cities where most home buyers are moving to.
1. Lisbon in Portugal
Lisbon city in Portugal has the most affordable houses in the Western Europe region. Therefore, foreigners are moving to Lisbon to buy homes and live there. The prices are fair even though the city dwellers enjoy the European lifestyle complete with all its history.
The city is known for astonishing hospitality, mild climate, friendly and polite residents, and well developed social amenities. The cost of living is relatively low, making it a perfect choice for foreign home buyers.
Most of the foreign home buyers in Lisbon are from Germany, China, France, and South Africa. However, with the increased number of homebuyers in the city, prices have risen by 20% in the last two years.
2. Seville in Spain
Seville is becoming a popular destination for home buyers due to its stunning landscape and pleasant climate. The city is strategically located in Spain with developed infrastructure and social amenities.
The city is famous for the traditional flamenco dance and landmarks such as Christopher Columbus tomb, Alcazar Castle complex among others. These unique features have attracted many homebuyers from other cities in the world.
Seville's revenue has been increasing due to the increased real estate investment over the last two years. A recent report on Seville's real estate market showed that the city does not experience low seasonality. The demand for property is the same throughout the year. Due to these reasons, Seville is among the few European cities where most home buyers are moving to.
3. Rotterdam in the Netherlands
Rotterdam is an emerging destination for homebuyers in Europe. Although the city has a high percentage of rental homes, the inventory for home buyers is still enough for foreign buyers.
Many people from other cities are moving to purchase homes in Rotterdam because it has vast urban areas where people can invest in.
The city is strategically located near popular cities such as The Hague and Amsterdam. Its proximity to these cities makes it attractive to home buyers. Rotterdam metropolis has seen a spike in new real estate investors due to the increased demand for houses.
In the last year, the real estate sector in Rotterdam grew by 17%, outpacing the average growth in the country, which stands at 10%. This was attributed to the high number of foreigners who have purchased homes in the city.
4. Zagreb in Croatia
Zagreb is the capital city of Croatia, and it is an emerging hub for home buyers. Many foreigners are moving to Zagreb to purchase houses and live there. Recently, the country welcomed its first digitalized real estate company, which is an indicator of its market potential.
The costs of houses, in particular condos, in Zagreb have increased by 20% according to A Nekretnine. The data also showed that over 20% of the home buyers in Zagreb are from other countries in Europe.
The city is gaining popularity among home buyers because of its history that dates back to Roman times. The city has a rich history and mild climate, which are major attractions for many people. Additionally, the city is well developed with plenty of infrastructure and social amenities since it is the country's capital.
Final Thoughts
Many home buyers are moving to various cities across Europe and the world in search of homes to purchase. The buyers are attracted to these cities for various reasons, as explained above.
Depending on the one's preferences, there is something good for every homebuyer in these cities. To ease your transition, it's always recommended to work with the right experts in house moving London and handle the moving process with care.
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