A Guide to European Property Prices from Bulgaria to Greece
European property prices have been falling for some time now, meaning it is the perfect buyers market for those who want to invest in somewhere abroad. With prices set to rise again from 2013, if you are looking for that dream holiday home, or keen investment, then now is the time to buy. This guide details the property prices of a few popular European countries, as well as the living costs in each of those countries to help you make your mind up as to where would be the best place for you.
Property Prices and the Cost of Living in Greece
As many people are away, Greece has had its fair share of economic troubles recently, meaning that prices have fallen but unfortunately not by much. The cost of a 2 bedroom flat in Athens, Greece is very similar to some parts of the UK (like the South East) at around £200,000 and this is one of the cheapest ones found on several property websites. The cost of living has also risen in Greece, due to the economic downturn, meaning that the prices are very similar to the rest of Western Europe, with prices of milk, bread and cheese being on par with those in the UK. Although this country used to be renowned for cheap eating and drinking, those days are now gone.
Property Prices and the Cost of Living in Spain
Spain is a very popular place for people to move to, which is reflected in the property prices. The cheapest apartments are around £40,000 but these tend to be outdated and derelict, or if you're feeling flash you can buy a villa for anywhere up to £1 million. Like Greece, Spain used to be known for cheap eating and drinking, although this has now all changed since the economic crisis. A three course meal for 2 is still only around £35 but this is still expensive compared to other places in Europe. Again, the prices of milk, bread, eggs, cheese and so on, are very similar to those in the UK and other Western European countries.
Property Prices and the Cost of Living in Bulgaria
Although many people have not even considered this beautiful country as a place to retire to, or own a holiday home, it is fast becoming a popular place meaning that the property prices now are set to rise soon. Property can be found in Bulgaria for less than £5,000 depending on how large a space you need, with stunning luxury flats going for anything up to £20,000. Not only is the property in Bulgaria well maintained but the cost of living there is ridiculously cheap. Staples such as milk, bread, eggs and cheese are around half the price of the UK, whereas luxury items such as a 3 course meal for 2 at a restaurant will set you back around £15. Bulgaria is fast becoming more and more popular due to these reasons, which is why if you buy now you will have a great investment for the future.
Places such as Greece and Spain used to be the most popular places for people to set up holiday homes, retire to or buy property as an investment. However, with the recent economic downturn it seems as though Eastern Europe is about to have its turn with countries such as Bulgaria offering cheap property, a low cost of living and still all of allure that the Mediterranean used to offer in terms of weather, beaches and scenery. Those looking to buy a property abroad should seriously consider what somewhere like Bulgaria will have to offer you and your family in the short and long term.