Sunday, February 7, 2021
I just got word that one of your fellow readers bought a home with Mediterranean views in a medieval town in Croatia for €90,000.
Owning a home in Europe was something he dreamed about. But he took the plunge after following up on a property that featured here in this e-letter.
He says: “Despite having been to Croatia twice and loving it, it had never occurred to me to look at real estate there, or how cheap it could be!”
I’ll be bringing you his full story soon…
In the meantime, I want to remind you that deals like this still exist all-over Europe.
In the Irish countryside and Italy’s ancient cities…
In the Spanish mountains and in Portugal’s hill towns…
In fact, I compiled a whole report about cheap bolthole homes in Europe and Latin America for members of Real Estate Trend Alert. If you’re a member, you can read it here.
There has never been a better time to buy a bargain home in Europe:
- In Spain and Italy this crisis has been longer and deeper than I first predicted. I had figured on big price drops on premium real estate and that we would find ourselves spoiled for choice on bargain bolthole properties. Now, I figure the deals are going to be even better than I thought.
- In big tourist cities like Rome, sales prices are down by about 30%. Multi-property Airbnb owners are overstretched and looking for quick sales.
- In Southern Spain, Portugal, and France, the aftermath of Brexit is stirring up motivated sellers.
- In Italy, the €1 home trend is taking on new dimensions. We’re seeing ever-increasing numbers of these offers popping up, with even more attractive incentives to buy. For instance, with the most recent offer in Troina (one of “Italy’s most beautiful villages”), not only do you get a house for €1, the local government will pay you to renovate it, with as much as €25,000 in grants.
- Plus, we’re in a period of historically low interest rates. Money has never been cheaper. And some European banks will lend to foreigners at exceptionally low rates. You can buy a dreamy historic home with bank financing and own it for just a few hundred bucks a month.
In my report, Pocket-Money Boltholes: Own Your Dream Home Overseas for Less than $99,000, I share some examples of the kind of bargain properties that are on the market right now.
Some need work, some are move in ready, some just overflow with historic charm—like this one:
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Live la dolce vita in a Tuscan hilltop village just over an hour’s drive from Pisa, Italy.
This home in the historic village of Montecatini Val di Cecina is available for a mere €85,000.
The house retains many of its original features including exposed wood beams in the ceiling and it has views to the surrounding Tuscan countryside. Peace, tranquillity, and life in the slow lane is the name of the game here.
Or, if Spanish beach living is more your style:
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This bright and airy bungalow in Andalucia, Spain is just a short walk to the beach and listed for only €83,500.
There’s plenty of outdoor space to enjoy the Spanish sunshine with a large roof terrace with views of the surrounding countryside and the Mediterranean Sea.
If you’re a golf lover, there are plenty of courses in the area. And the town center is a short walk away with bars, restaurants, supermarkets, and more.
In France, you get even more bang for your buck…
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Rural flight has left a glut of French character homes vacant and unloved…waiting for someone with time and a little money.
This four-bedroom home is on the market for just €50,000 (just under $60,000).
It’s just a short walk from the small village of La Chapelle Montbrandeix, where you can enjoy excellent French cuisine. And the international airport at Limoges is only a 40-minute drive.
This house boasts an open plan living /dining room with exposed beams and a feature fireplace. It also comes with a private garden nearby.
This is just a sample of what you can find in hidden corners of Europe. And as Europe’s crisis goes next level, the deals will get even better…
If you’re a RETA member, don’t forget to check out my full report on Pocket-Money Boltholes.
Wishing you good real estate investing,
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Ronan McMahon, Real Estate Trend Alert