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6 Popular Places in Europe Where Americans Are Buying Homes, Investing in Real Estate

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  • The value of the US dollar has skyrocketed in recent months compared to the euro.
  • Some Americans are using their purchasing power to buy European homes at deep discounts.
  • Six locations are particularly popular among American buyers, according to real estate firm Knight Frank.

Buying a house in Europe has become a little cheaper for Americans.

This is because for the first time in 20 years the US dollar is on par with the euro and the two currencies share the same value.

This is due to the volatility of the European economy as several countries grapple with financial recession. spurred by the Ukrainian war.fear of possible recession grow up In Europe, a strong dollar has made it attractive to many investors.

As the US dollar rises, more wealthy Americans are investing in real estate overseas, especially in Europe.

A stronger US dollar and weaker euro have pushed US homebuyers to 16% discount in euro area countries.wall street journal report The high exchange rate of the US dollar has encouraged many Americans to buy a second home. european A city where house prices are barely rising.

According to global real estate firm Knight Frank, Paris, Saint-Tropez, Tuscany, Venice, Barcelona, ​​Mallorca and Sardinia are the most popular European real estate markets for American homebuyers.Since the pandemic began, these destinations, like other global destinations like Mexico City, have seen a surge in foreign demand – and Intrusion of remote workers It does not necessarily benefit the local economy.

Housing remains relatively affordable in Paris.According to the latest Knight Frank Global Residential Index, prices in the city are Q1 2021 and the Q1 2022Americans on a budget consider real estate options, so that’s a good thing. Americans relocating to the “City of Love” will enjoy the city’s world-class cuisine and rich arts and fashion history.

Renowned for its opulence, Saint-Tropez is a hotspot for the rich and famous in the world. Therefore, its housing market is he one of the most expensive in France.As foreign buyers flock to the city, house prices climbed 15% since 2015, according to Paris Property Group data.Several French headquarters most expensive With hotels, boutiques and restaurants, it’s no wonder the city has a reputation for being a truly glamorous destination.

Italy has also proven to be a worthwhile destination for American investment — according to the Knight Frank Index, five Italian cities saw average home prices fall between this year and last year, with the occupied more than half. index. In addition, Rome and Milan also fell well behind the index in terms of price increases, with less than 5% each.

In Tuscany, the real estate market is red hot.After his decade of lackluster growth, house prices in the area climbing Since 2018, according to Knight Frank. but, significant price increasethe housing market is still relatively affordableBuyers interested in being based in Tuscany are stepping into the world of beauty because the region is good. Are known For its vast landscapes and enchanting forests.

In addition to Sardinia and Tuscany, Knight Frank’s also pointed out Even though homebuying in Venice hasn’t reached pre-pandemic highs, prime prices are gaining momentum. Researchers also say Venetian real estate is more open to bargaining than other parts of the country. According to Knight Frank, interest in moving Americans to Venice will grow by 6% in 2021.

Spanish real estate is also popular with Americans, with Barcelona and Mallorca standing out, according to Knight Frank. Knight Frank does not rank Mallorca in their index, but prices in Barcelona have remained stable this year and last year, rising only 4.3%.

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