As most countries in Europe have opened their borders again, property buyers who had previously put their plans on hold will be looking to resume their search for the perfect overseas home. So, how is the property market looking for the most popular countries in Europe?
Spain
Property prices had dropped slightly during lockdown, but with people now flying over from many different places, it’s clear that properties in Spain are still highly sought after. The Spanish themselves have also started to look again. Like most places, it seems that houses with outdoor space are the most desirable, whilst smaller apartments without balconies are less popular at the moment.
The average price of rental property actually increased by whilst Spain was in total lockdown. Declines in rental prices, mostly seen in cities such as Barcelona, have been far more moderate than expected.
France
As the property market in France recovers from the coronavirus crisis, new trends appear to be emerging. City properties are still highly sought after, despite predictions that demand would switch to countryside living. However, like in Spain, demand for balconies and outdoor space has risen.
There has been a considerable influx of British buyers in France, who wish to purchase before the Brexit transition period ends in January 2021. This, coupled with pent up demand due to coronavirus, could cause a surge in viewing trips over the next few months. So, if you’re looking to buy but haven’t planned anything yet, now might be the time!
Portugal
Like France and Spain, interest in Portuguese property is still as high as ever, despite the coronavirus crisis. Unfortunately, due to a few localised outbreaks, Portugal is not on the list of ‘travel corridors’ paired with the UK. UK citizens can still fly to Portugal for viewing trips, however, they would be required to quarantine on return.
Statistics show that those with a home in Portugal have seen property prices rise recently, especially in Northern Portugal. Despite this, bargains can still be found in quieter areas. Stronger, pent up demand for properties in Portugal paints a positive picture of the market.
Italy
Now could be a great time to buy in Italy – estate agents are forecasting prices dropping between 1% and 10% over the next year. Some of the biggest price cuts are expected to be in small towns. Like everywhere else, properties with outdoor space are in high demand, whereas small flats and apartments are less popular.
UK buyers can now travel to Italy without having to quarantine, so viewing trips are already underway. So, why not book appointments with your estate agent in advance and resume your property buying journey!
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Why not split the cost and double the fun of owning a holiday home by buying with family or friends? Read our guides to Buying Abroad with Family
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