Recently, research data published by the international company LeadingRE has been published. This organization has 565 real estate brokerage companies in 70 countries. Based on this information, the world-famous world giant Forbes identified several cities in which housing prices are rising and have every reason to further increase.
Six cities in the world where property prices are skyrocketing
Therefore, according to the available data, 6 ranking leaders were identified, namely:
1. Naples (Italy). Over the past year, real estate sales in the city grew by 15%. Naples is an extremely popular place to live in. This is facilitated by the proximity to the Mediterranean coast, the islands of Capri and Ischia, as well as the world cultural capital Rome. Real estate prices here start at about €2,220 per square meter. In turn, in Rome, this amount starts at €3,050.
2. Megeve (France). The trump card in the sleeve of this city is the availability of a ski resort, which to a large extent attracts potential buyers here. Experts note that the largest number of the latter are residents of Switzerland and the UK. As for pricing, for two-bedroom apartments, the starting price, usually, starts at €449,500.
3. Szekesfehervar (Hungary). Improving the railway connection with Budapest has played into the hands of the current government and now, thanks to this, since 2018, home sales here have grown by 17%. This is a big advance for the city.
4. Batumi (Georgia). This city is a popular Black Sea resort. Here, the starting price in the newly completed complex is €360 per square meter. The vast majority of property buyers in Batumi are foreigners. In response to increased demand for real estate, 22,752 houses were built between 2018 and 2019.
5. Porto (Portugal). In Porto, housing prices are still 30% lower than in Lisbon, despite a 15% increase in closed sales. The reasons for the growth in demand for real estate can be considered changes in rental laws, as well as the fact that Portugal is one of the countries with the most affordable real estate for obtaining a “golden visa”.
6. Rotterdam (Netherlands). This city is becoming a haven for buyers who feel that Amsterdam has become too expensive. Prices here have risen by about 10% since 2018, while the average selling price is about €2,860 per square meter, although on average it is 20% higher for new homes.