Barcelona
Madrid
Majorca
Rhodes
Venice
By Suzanne De Vita
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Housing in the U.S. and in markets abroad is categorically intertwined, with conditions globally mirroring those happening at home: climbing prices, dwindling stock, and an outpouring of demand. BarcelonaHomebuyers the world over are investing in Barcelona, with special attention paid to properties in sought-after Zona Alta—or “high area”—where price-per-square meter can reach up to 12,000 euros (approx. $13,680). Foreign buyers are also interested in Diagonal Mar, where prices can parallel those in Zona Alta, and Exiample, where prices are slightly less. International buyers in Barcelona originate from all corners of the globe, including Argentina, Bulgaria, China, France, the Middle East and Russia. MadridSpain is also experiencing an influx of residents to Madrid, where the majority of homebuyers are searching in Centro, Chamartín, Chamberí, Hortaleza, Retiro and Salamanca. Chamartín boasts the highest price-per-square meter at up to 15,000 euros (approx. $17,100), specifically in the El Viso neighborhood, while other areas range from 8,000 euros (approx. $9,120) to 12,800 euros (approx. $14,595) per square meter. Foreign buyers in Madrid tend to be from Spanish-speaking countries, like Colombia and Venezuela, or from France, Switzerland or the UK. MajorcaHome prices on Majorca rocketed in the last year, from 1.68 million euros (approx. $2 million) to 2.11 million euros (approx. $2.4 million). Properties with Mediterranean Sea views are most in-demand, especially those in Bendinat, Portals, Puerto de Andratx and Santa Ponsa. Foreign buyer interest generally extends from Great Britain, Germany and Switzerland. Rhodes The housing market on Rhodes is on the upswing, with homebuyer inquiries for oceanside vacation properties soaring 57 percent in the past year. Lindos, Pefkos and Vlicha are the most popular areas for buyers, with a 7,000-euro (approx. $7,980) price-per-square meter. Central Europeans, namely from Germany, are taking to the island, as well as buyers and investors from France and the UK. VeniceInternational homebuyers comprise the majority of activity in Venice, where properties on the Grand Canal—in desirable areas such as Dorsoduro, San Marco and San Polo—can command a premium: up to 20,000 euros (approx. $22,800). Prices in Dorsoduro, also attractive to locals, and San Polo more often vary between 5,500 euros (approx. $6,270) and 7,000 euros, while prices in San Marco—a tourist hot spot—can go from 4,500 euros (approx. $5,130) to 10,000 euros (approx. $11,400) per square meter. Buyers in Venice typically hail from Austria, Great Britain, France, Germany and the U.S. Image Credit: Engel & Völkers
By Suzanne De Vita
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November 2021
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