Saturday, December 04, 2021
Dear Your Overseas Dream Home Reader,
Europe is a place that evokes romance and a sense of history—where the weight of ages past bears down on you through architecture, cobbled streets, and rich, centuries-old cultures.
But there is a sense, at least among North Americans, that Europe is a place reserved for the wealthy. I’ve heard the phrase on more than one occasion that “only rich people go to Europe.”
While it may be true that you’ll pay a premium to vacation—and certainly to own real estate—in places like Paris or Rome, there is much more to Europe than these over-touristed, over-saturated cities.
If you know where to look, there is some real hidden beauty—and killer real estate deals—to be found in this part of the world.
This past week, I shared some true European gems with you…
Own in a Roman Palace from $144,402
Did you know that you can own an apartment inside a Roman Palace and just a short stroll from the Adriatic Sea for $144,402?
The palace is a UNESCO World Heritage site and a living museum where the original arches and columns of the Roman walls loom above shops, restaurants, and cafes.
Narrow streets hide a maze of passageways and squares. You can bask in the Mediterranean climate with a $2 coffee. Or enjoy a mix of regional fare—pasta, gnocchi, and risotto dishes; smoked, cured ham with sheep’s milk cheese; beef stews; and lots of fish.
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For over a month, a member of my team has been slow traveling along the Dalmatian Coast, one of the most attractive regions of southern Europe.
It offers dramatic shorelines, encompasses enchanting medieval cities, sweeping mountains, and long stretches of sand and shingle beaches…
Best of all, it’s a place where real estate prices go from decent value to downright cheap. And he has uncovered some of the very best deals available there right now.
Recently, he was in the city of Split, Croatia…
Read about what he found here…
California Dreamin’ in Portugal
Back in 1965, The Mamas and Papas released the single “California Dreamin” and cemented the idea of The Golden State as a place of sunshine, surf, and the good life.
But while California still has plenty of sunshine and surf, in recent years rising costs of living and sky-high property prices have taken a lot of the good out of life in much of the state.
The San Francisco Bay Area in particular has become a byword for unaffordable housing, consistently being ranked as one of the most expensive real estate markets in the world. The typical price of a home in this area today is around $1.5 million (meaning half are priced even higher). Not a bad market if you’re selling—but not one I’d like to buy in right now.
So it’s no wonder that Californians are looking outside of their state to find that life The Mamas and Papas sang about so long ago.
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In many respects, Portugal has become California’s “European Twin,” even down to the fact that’s it’s a growing hub for tech innovation. Earlier this month, Lisbon held the Web Summit, the biggest, most influential technology conference on the planet.
When it comes to that easy-going, laidback California beach lifestyle, it’s all about the Algarve and its incredible golden-sand beaches.
Read all about the new European California here…
This Medieval Algarve Town Is On a Tear
For those who don’t know Portugal, the Algarve is in the south of the country facing the Atlantic, yet it boasts a perfect Mediterranean climate.
It’s a place of rich culture, great food…soaring cliffs, white-washed villages, stunning beaches, and 300 days of sunshine a year…all of which has made it one of the most popular beach destinations in Europe, attracting millions of tourists each year, as well as expats.
I’ve been visiting the Algarve since 2002. It’s where I’ve found some of the most profitable opportunities on my beat (including one of my most recent real estate investments).
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Lagos is a place where the historic old town spills down cobbled lanes, into shady plazas toward a state-of-the-art marina.
Lagos has amazing restaurants, artsy boutiques, imposing old fortifications, and a Southern Californian vibe. In fact, I know of at least two Californians who say it’s a better place to live than California…more affordable, certainly safer…with weather just as good.
Read more about this town and its potential for real estate investors here…
Wishing you good real estate investing,
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Ronan McMahon, Real Estate Trend Alert
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