NEWSWIRETODAY Press Release& Newswire Distribution | HOME
MOST TRUSTED NEWSWIRE PRESS RELEASE DISTRIBUTION
PRTODAY / NewswireToday press release distribution service network
Written by / Agency / Source: Global Property Guide
Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

London and Monaco Most Europe’s Expensive Cities for Residential Property Buyers - According to the Global Property Guide, Monaco and London continue to be the most expensive locations to buy an apartment in Europe. Prices in the Baltics have risen to the same level as capitals such as Copenhagen, Berlin, Munich, Stockholm, Vienna
London and Monaco Most Europe’s Expensive Cities for Residential Property Buyers

 

NewswireToday - /newswire/ - Makati City, Manila, Philippines, 2007/01/18 - According to the Global Property Guide, Monaco and London continue to be the most expensive locations to buy an apartment in Europe. Prices in the Baltics have risen to the same level as capitals such as Copenhagen, Berlin, Munich, Stockholm, Vienna.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Real Estate / Property Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

London and Monaco are Europe’s most expensive cities for residential property buyers. Prices in the Baltics have risen to the same level as capitals such as Copenhagen, Berlin, Munich, Stockholm, Vienna, and Frankfurt.

High rewards await property investors in some parts of Europe, according to the Global Property Guide, a residential real estate research organization. Rental yields for apartments in several Eastern European capitals are above 10%.

Rental apartments in Moldova’s capital city Chisinau can be expected to yield annual rental returns of around 14.13%; in Poland’s capital Warsaw, 13.28%; in Bulgaria’s capital Sofia, 10.56%; and in Slovakia’s capital Bratislava, 10.06%. The higher risks of Eastern Europe may be a factor in these returns (corruption, political instability, etc).

But risks are not the only factor. The Global Property Guide believes that the relatively recent arrival of the market economy, high interest rates, and relatively undeveloped mortgage markets, largely explain the low prices in the east. To illustrate, it would surely be hard to label the historic city of Bratislava, Slovakia, as a high-risk location, yet the rental income returns are excellent.

Western Europe generally suffers from another, different disadvantage: High taxation. There are high rental income returns to be earned in Amsterdam and Paris (8.25% in both), in Munich (7.80%) and Brussels (7.53%). But all four cities are high tax environments (but so too is Poland).

Property in Prime Central London returns surprisingly high rental yields, at 7.13%. Note that this “Prime” category encompasses relatively a narrow group of super-luxury apartments in absolutely prime areas (Belgravia, Chelsea, and Knightsbridge). The high returns in these select super-central locations contrast with the significantly lower rental yields (5.79%) available in Central London’s other luxury areas (Kensington, Bayswater, Notting Hill Gate, St Johns Wood, Highgate, Islington, Highbury, and Primrose Hill).

Europe’s most expensive cities
The tiny principality of Monaco is the most expensive location to buy an apartment in Europe at around €24,900 per square metre (sq. m.).

Closely on its tail is Prime Central London, where 120 sq. m. super-luxury apartments can cost £1,170,000 (€1,742,656) or £9,750 (€14,522) per sq. m.
Apartments of 120 sq. m. in other luxury areas of Central London are likely to cost £580,000 or £4,833 per sq. m. (€863,880 or €7,199). The large difference is explained by London’s highly segmented top-end market, with super-luxury apartments in absolutely prime areas commanding considerable premiums.

Paris and Amsterdam follow London. A 120 sq. m. apartment in either of these cities has an average purchase price of €800,000 (€6,667 per sq. m.).

Moscow is Europe’s sixth most expensive capital for buyers of residential property. And though apartments in Moscow can be rather rewarding for buyers in terms of rental income returns, investors should be aware of the high risks (purchases are cash-based, and the authorities can suddenly turn hostile).

Dublin makes an appearance among Europe’s most expensive cities in 10th place, with a high end 120 sq. m. apartment on average costing around €600,000.

The Baltics, till recently Europe’s hottest residential investment destination, are now expensive. A high-end apartment in Central Vilnius, Lithuania will cost on average around €3,792 per sq. m (€455,000 for 120 sq. m.).

Latvia follows closely with high-end apartments in Central Riga costing an average of €3,020 pr sq. m. Rental yields in the Baltics have also dropped to very low levels.

There are still some very inexpensive capitals in Europe. Berlin, in particular (€3,167 per sq. m.), is now experiencing inflows of foreign money in response to its relatively low prices.

Even less expensive are:
Slovakia’s Bratislava (€1,292 per sq. m.)
Poland’s Warsaw (€1,175 per sq. m.)
Macedonia’s Skopje (€1,125 per sq. m.)
Moldova’s Chisinau (€917 per sq. m.)

Rental returns cannot fall forever
As 2007 dawns, rental returns are lower in most locations than they have been for 20 or more years.

Nowhere in Europe are rents keeping pace with the continued strong rise in property prices. Residential real estate prices are at historical peaks in almost all countries in Europe, except Germany and Switzerland.

This is cause for concern. At the Global Property Guide, we informally consider a danger signal to be rental returns of around 4% or below.

Several European capitals offer rental income yields around or below this 4% level. In example is Madrid, where rental returns are now at only 3.15%. Rental yields in Monaco are the lowest in Europe at around 2.43%.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Real Estate / Property Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Global Property Guide

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick NewswireToday Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Real Estate / Property Management articles,
CATCH Visitors via Your Competitors Announcements!


London and Monaco Most Europe’s Expensive Cities for Residential Property Buyers

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name NewswireToday and LINK as the source.
 
Publisher Contact: GlobalPropertyGuide.com 
+632 867 4220 info[.]globalpropertyguide.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Global Property Guide securities in any jurisdiction including any other companies listed or named in this release.

Real Estate / Property Management via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Global Property Guide / Company Profile


Read Real Estate / Property Management Most Recent Related Newswires:

NHE to Assume HOA Management of Five Additional South Carolina Communities
Armada Analytics, Inc. Relocating Headquarters, Expanding Operations in Greenville, South Carolina
Yardi Relaunches Popular CRE Marketplace CommercialSearch.com
SC's NHE Announces Construction Start for its first Affordable Housing Community in Charlotte NC
Six South Carolina Communities Turn to NHE Association Management
Affordable Housing for Seniors Expands in South Carolina as Renaissance Place from NHE Breaks Ground
South Carolina Property Management Group NHE Promotes Three, Adds Three to Accounting/Finance Team
NHE Adds Riverstone Community to Growing South Carolina Homeowners Association Portfolio
NHE Headquarters Building Named in Honor of Former Verdae CEO - AO-The Space Spa & Salon Relocating
NHE Relocates Corporate Headquarters to New Building At Legacy Square in Greenville, South Carolina
NHE Begins Leasing on Newly Completed Affordable Housing Apartment Community in South Carolina
NHE to Manage The Ironwood Community in North Augusta, South Carolina
NHE Adds Management of Four South Carolina Communities to its Homeowners Association Portfolio
Lollis Named Vice President of Finance at South Carolina-based Property Management Firm NHE
Yardi Showcasing New Innovation At 2019 Realcomm ׀ IBcon Conferences in Nashville, Tennessee

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  SlideUpLift

Visit  JobsWare.com





 
  ©2021 NewswireToday — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com newswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are proudly NOT affiliated with USA TODAY (usatoday.com)