With the world becoming a truly international place, it’s only to be expected that property investment also becomes truly international and indeed this process is already well underway.
The great news for property investors is that there are a number of very attractive destinations all around the world for overseas property investment, including several in Europe, which offer great prospects for 2019 and beyond.
Right now Croatia is probably most famous as a film location, especially for Game of Thrones in which Dubrovnik provided the setting for King’s Landing. It has also been a location for the James Bond franchise and Mamma Mia 2. These connections have doubtless provided a helpful boost for the country’s tourist industry, which is growing along with the rest of the economy. It’s unlikely to be very long before Croatia shakes of the last vestiges of its “hidden gem” status, so property investors who get in quickly could be looking at seeing their investments appreciate very quickly.
Covering an area of just 122 square miles, Malta is the 10th-smallest country in the world but ranks 5th in the world for population density (3,773.6 people per square mile). If this conjures up images of people harassed by the city rat race then forget them.
Even though the stunningly-beautiful capital city of Valletta is home to most of the population, it does not feel either cramped or stressed. This is probably due to a combination of the Mediterranean climate encouraging people to make the most of the city’s outdoor spaces and the ease with which people can head to the surrounding countryside. Malta has long been a popular destination with both retirees and tourists, but also has a thriving economy.
The financial bail-out of 2011 was a nasty experience for Portugal, but with hindsight it does appear to have been a blessing in disguise in that it forced Portugal to get to grips with its outdated economic model and start to move towards a more diversified (and therefore resilient) economy.
As a result, it now has a thriving IT sector which is attracting investment from some major international companies in the industry. This suggests a bright and stable future for the country, which is reassuring for property investors who wish to tap into the country’s significant tourist market.
Possibly the most tourism-orientated country in Europe, Spain has a lot more to offer than “just sun, sea and sand”, although these remain some of its most popular attractions. It has plenty of amazing inland countryside including extensive forests and mountains as well as some beautiful and historic cities. The Spanish government appears to have got to grips with the illegal developments which plagued Spain’s property market during the boom years and to have grasped the fact that the country’s long-term future depends on its many natural assets being managed sustainably.
While some have expressed concern that Brexit may impact the rate at which the Spanish property market finally thaws out completely from the long freeze it has endured since the 2008 financial crisis, in reality this is unlikely to be the case since Spain’s international popularity is now genuinely global rather than being confined largely to the EU in general and the UK in particular.