Were named the most attractive cities for investment in Europe in 2020. According to Forbes, the Italian Naples, French Megève and Hungarian Sekesfehervar headed the list of the most interesting cities on the European continent for investors.
Everywhere there was an increase in home values and an increase in interest in buying property by both locals and foreigners. All three cities have good transport links to their capitals and good landscape characteristics.
Demand for commercial real estate is growing among private investors, according to Oldypak LP report.
According to its data, in March 2020, demand for foreign real estate fell by 25-35% depending on location. The largest number of requests is for proposals whose prices have fallen sharply in connection with the COVID-19 epidemic. Thus, Knight Frank receives up to 80% of requests for discounted properties, of which 50% are business properties. Among requests from private investors prevails interest in commercial real estate – about 50% of requests (mainly hotels, because this area of business is expected to have the largest discount).
As for the directions, according to Oldypak LP report, 50% of ultra-high-networkers choose Italy, Spain and France – the countries most affected by the virus, where property owners are willing to give serious discounts up to 30%.
In the current epidemiological situation in early March at Knight Frank has recorded an increase in the number of proposals from the owners of the villas and apartments with discounts of up to 30%, mainly in France and Italy.
At the same time in March 2020 the number of requests for overseas property has decreased by 25-35% depending on the destination (compared with March last year). The largest number of requests was precisely for discounted properties – up to 80% of the total, 15% – for migration programs, 5% – for seasonal rentals, mostly secluded villas. Ultrahinets are ready for online reservations, and are already making advances and fees.