Top European Cities With The Most Expensive House Mortgages
The Eurozone economy and cheap money are seen on the property markets of Europe. According to Savills global city ranking, there’s a 20% rise in Europe – just as with the house prices continue rapidly rising in China. Houses represent the status just as they provide the comfort and pride after a hard day’s work. With that in mind, potential buyers all over Europe are now searching for different options and types of houses, eager to find out these prices and make a decision which would fit their budget best.
Here are the 7 cities topping the house-price hike:
The prices of residential properties in London has a 2.3% price growth that slowed in the previous year. Still, the price went up and it got a spot close to the top of the ranking in Europe. Muswell Hill’s Brick houses and a panorama of London are among the residential areas to look. The common price per square foot is $1,020 or £740.
The rate in Frankfurt is 2.9% and is even higher than London. The prices went up reportedly after the bankers have demanded it due to plans of relocating the German financial hub after the one in Brexit. Jones Lang LaSalle has reported that there is a rise of 10.7% in the prices of the apartment in the second half of the previous year.
People could relax and sit at restaurants or settle on their roof terrace with the skyline and Frankfurt’s financial district. The locals dubbed this as their very own version of Manhattan and twisted it to call Mainhattan. The typical price per square foot is $410 or £300.
The rate here is higher than the last. Brussels rate is 4.3% up to $230 per square foot in the previous year. The Great Mosque known in Brussels can be seen in Brussels Thomson Reuters. The typical price per square foot is $230 or £165.
Higher we go, as Germany experiences the boom in the property. The rate here is 6.5% with Berlin leading the market. Since 2004, the rents have increased 120% fueled by the stable job market and the low-interest rate. Another factor is the fast-growing reputation as a heaven for a start-up. Bundesbank of Germany has already warned last year about the increasing price that is out of touch with the reality. The common price per square foot is $400 or £290.
What could you expect, this European city will eventually land a spot on this list. Paris’ rate is 8.3% with the prices in the capital’s houses in-demand. The factors that made this increase possible were the election to the presidency of Emmanuel Macron, Brexit, Low supply, and the successful bid they made for the Olympic games on 2024, according to the Le Point Newspaper. Typical price for every square foot is $870 or £630.
The second spot will be given to Dublin as its rate rise up to 12.3% thanks to the stable economy and low supply. This helped the house prices in the capital of Ireland that spiked in 2017’s first half however, the market has stabilized in the last six months of the year and that might be an indication of the properties becoming close to full prices. Typical price in every square foot is $370 or £270.
The top city on the list is Amsterdam, having a rate of 20.9%. The boom of the house property market was due to the fast-growing economy and low-interest rates. An associate director with Savills in Amsterdam, Bas Wilberts, stated last November that there is an undeniable boom in the house prices today and the cheap money can be seen in the market just as in the other markets all over Europe. The common price per square foot is $450 or £325.
The prices of the residential properties to be purchased in these cities say something about the economy of the place. The list could serve as a reference that can either be for inspiration, investment or just someplace you want to avoid budget-wise. Either way, this is a good start in searching for potential properties to be invested in. It’s never too late to find an inspiration and live the dream.
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