Owning a second holiday home in Europe is many people’s dream. It offers a haven to escape to in the winter months and can host family holidays all year round. Since the pandemic hit, remote working has been on the rise. Therefore, buying property abroad is becoming more accessible for many, given the freedom to work anywhere.
Some practical advice:
Before buying abroad, it’s essential to consider the legalities of purchasing property in your chosen destination. The steps you need to follow may be different from the standard protocol experienced in the UK. Living between the UK and Europe will also mean you’ll need all the relevant health insurance and visas depending on the country. Brexit and Covid have changed a lot about the way we travel across Europe. Having a global health insurance card (GHIC) allows all UK citizens to access state-funded health services provided by the European Union countries. You can apply for a GHIC online.
Cyprus
Only a short four-hour flight from London, Cyprus is easily reachable, and it happens to be one of Europe’s sunniest islands. Limassol is an exceptionally vibrant port town in Cyrpus that offers a cosmopolitan lifestyle mixed with history and old-world charm. It would make an attractive option for a second home in Europe.
France
France is a popular option for second homes. The climate is fair, and the culture is fascinating. St Emilion is an enchanting medieval village surrounded by vineyards. It’s also a UNESCO World Heritage Site, so you can imagine how beautiful it must be. There is also Deauville which is one of the most prestigious seaside resorts in the country. Both would make fabulous options, plus provide an opportunity to make money when you aren’t there.
Spain
Another popular destination for a second home in Europe would be Spain. Again, easily accessible from the UK, with plenty to enjoy. From the beautiful beach clubs and high life of Marbella to the more family-friendly location of Mallorca. Spain offers high-quality and modern infrastructure, good health care and education options hence why it is considered one of the most popular destinations to buy property in Europe, if you can get a mortgage in Spain.
Portugal
Europe is home to some of the best beach and golf destinations, the Algarve being one. Especially the western Algarve (from Lagos to Sagres.) This area remains one of the least spoiled parts of the Algarve, considering this is a hot spot for tourists. More than 60% of this area is nature conservation, boasting fabulous wildlife and making it one of the best places to buy a second home in Europe.
On a Budget?
Owning a second home in Europe is a significant investment, so it’s understandable for the need to do it on a budget. There are plenty of attractive and affordable options. More modestly priced markets include Bulgaria, Montenegro, Romania, and Latvia.
Another cheaper option would be renovating a house. There are often many deals in the more expensive locations but be mindful you will have to commit a lot of holiday time and travel for renovation work.