The romance of owning a home in Europe is undeniable. The thoughts of waking up in the morning and stepping out your door to the scents of baking pastries and the sounds of bicycle bells as your European neighbors fly past on their way to cafés or art studios…
Europe has some of the most iconic geography and cultures in the world. From the golden sands of Portugal’s Algarve…to the rolling hills of southern Spain…to the simple grandeur of the French countryside… It’s more than possible to find your own idyllic slice of European life. Not only that, but you could even profit from the opportunity.
Portugal’s Algarve
The Algarve has perfect weather, with 300 days of sunshine a year, amazing beaches, and world-class golf. It’s easy to get there, the cost of living is low, the food is great, and it’s safe…peaceful.
Its sunny shores offer perfect escapes for all types, from those seeking an energetic nightlife, to families looking for secluded stays next to vast golden-sand beaches. It has historical attractions in former Moorish towns, thermal springs, and miles of limestone caves and grottoes, cliffs, and bays along its rugged coastline.
Costa del Sol, Spain
The Costa del Sol (“Sun Coast”) is beautiful, almost endlessly sunny…and one of Europe’s top tourist destinations.
This strip of stunning coast has all the ingredients of a successful internationalized place. The weather is amazing: it has 320 sunny days each year. The beaches are stunning, and it has appeal for a broad cross-section of people. You have historic towns and cities, incredible locally produced food, world-class golf courses and marinas, shopping, and entertainment.
Crucially, it’s easy to get there. In 2004 Málaga airport saw over 12 million passengers. In 2019 it was up to nearly 20 million. (And by July 2022, figures were already close to pre-pandemic levels—93% of what they were in July 2019.) It’s a short hop from almost anywhere in Europe. You’re looking at a flight time of typically one to three hours. (Which also makes it good as your European base.)
there are financing advantages to investing here. As a foreign buyer, you can apply for a mortgage in a regular bank in Spain . And the rates and conditions currently being offered to foreign buyers are attractive. The typical LTV (loan to value) you might be offered is normally 60% to 70%, but can go to 80%. You borrow in euro at a rate tied to European Central Bank rates.
Languedoc, France
Few regions in the world garner such universal admiration as the South of France. And justifiably so. Its stunning Mediterranean coastline backs into rolling, vineyard-lined hills. You can visit medieval hilltop towns and castles, drive winding clifftop roads or along fields of lavender or ancient olive groves.
There is sunshine 300 days a year, and even the winters are lovely here. A special quality of light has attracted artists for centuries. For everyone else, it’s just an ideal setting for a coffee at dawn or a glass of wine at dusk.
However, the French Riviera’s long-established status as a favorite amongst the jet-set, means that it’s one of the most expensive markets in France. Its glitz and glamour comes with a price.
But, look beyond Cannes, Nice, Antibes or Saint-Tropez and you can still find good value. In fact, there’s another South of France where expats and second home owners can find everything that makes the French Riviera so special, while avoiding the high cost. It’s a place favored by many French, that’s becoming increasingly popular with European second home owners and Americans too. I’m talking about the Languedoc…
Once known as “the poor man’s Provence,” the Languedoc region of southern France is slowly arriving as a destination. In fact, for six years pre-pandemic, tourist numbers here rose by an average of 17% a year.
