News Digest (16-31 March, 2014)

News Digest (16-31 March, 2014)

The last two weeks materials on the portal ee24.com were dedicated mainly to two categories of countries: countries with a great drop in prices, such as Spain and Greece, and countries where prices are growing at a record pace, such as Estonia and Turkey. In countries, where prices are going down, it is more reasonable to buy houses for living there yourselves, or to buy commercial properties designed for tourists, as it is profitable to invest in areas where prices are rising.

In addition, we talked to experts from European real estate agencies about the situation in Crimea and the impact of these events on the European markets. Will any country benefit from the tension between Russia and Ukraine? Now the Russians are ready to buy real estate in almost every corner of Europe: the portal has recently published the second ten of countries where the Russians want to buy real estate. And as always, fascinating ratings and stories about unusual purchases awaited our readers in the past two weeks.

The preseason rush is about to start, and many people wonder what will happen on such markets with cheapening real estate, as the Spanish one: is it worth waiting or is it better to make a purchase in advance? Optimism reigned among professionals for the first time in six years: the drop in prices in Spain slowed down in all regions. Demand begins to grow, and it is supposed to lead to price increase. However, according to some estimates, they have already started going up: notaries believe that this January housing cost 9% more than last year.

Another popular tourist destination is Greece, where real estate is getting cheaper, but the number of people who want to have rest in this country is only increasing. You can take advantage of it, making a favorable purchase of commercial property. Our readers can learn on ee24.com what brings profit in Greece.

In such a warm and welcoming country like Greece one wants to live as well as earn money. Property in Crete is highly demanded. That’s where apartments in new complexes in a good location have not almost lost in value during the crisis. Find out what places on the island are the most popular in an interview with a representative of a developer based in Crete.

Things in France, a country that attract the most tourists, are not as bad as its southern neighbors in the European Union, but worse than in Estonia and Turkey. Analysts of portal ee24.com found out the average cost per square meter of real estate in France, and told the readers why houses and apartments in the Fifth Republic were getting cheaper, and how long this situation would last.

The leading countries according to growth of real estate prices have not been left unnoticed by our portal. Estonia is a small country, which demonstrates strong recovery. According to various estimates, last year property has risen by 10-15% in Tallinn, but what properties is it safe to invest in? In many cities of the country you can still find very cheap apartments, but what expects the owners of such housing? Market professionals’ answers to these and other questions have recently been published in the analytic material on ee24.com.

Turkey is also moving forward by leaps and bounds, and it concerns both price growth and increase of demand. In the past year, real estate sales to foreigners rose by 61%. The Russians maintain undisputed leadership, followed by the British and the Germans.

Russian citizens are really very active in Europe, but will the situation change after the events in the Crimea? Experts from Bulgaria, Greece, Hungary, Latvia and other countries believe that demand is stable, and if it increases, it is the influence of seasonal factors. Possible conflict between Russia and Ukraine can have a positive impact on real estate markets in some countries, and a negative impact on their economies as a whole.

We continued global research of demand and published a list of countries, regions and cities that are included in the second ten of the Russians’ preferences. Their neighbors happened to be there - all the Baltic countries, as well as Finland and Poland. Moreover, residents of Russia are thinking about buying real estate in England, Austria, Portugal, Serbia and Croatia.

Bulgaria remains the most popular European country among the Russians. 330,000 people purchased housing there and most of these houses and apartments are located on the Black Sea coast. Recently the resort city of Burgas and Veliko Tarnovo received the title of the most livable cities in Bulgaria, and Varna became the most promising and Nessebar - fast developing.

And finally about interesting contrasts of life. It has been estimated that a house in London costs as much as 22 houses in Liverpool. Only a family with income that exceeds the average one for Britain 15 times, can afford such a purchase. But you can rent an apartment in Paris for a reasonable price, €330 per month. The court decided that the owner of an apartment, covering an area of ​​1.54 sq.m, will pay €12,000 to the tenant for suffering and emotional distress.