Purchasing properties in Europe is much cheaper today than in the past. The current, familiar and widespread difficult economic situation has had a domino effect on the real estate market. It is now necessary to lower property prices to avoid a total collapse in the market. Countries such as France and the Netherlands have had to compromise and drastically lower their prices. Prestigious properties in these countries, amongst the most costly in Europe, have had a fall in prices.
Consequently, countries in which the real estate market has always thrived, such as Switzerland, Sweden and Austria, have also been effected. In spite of the crisis, the luxury real estate in Switzerland has remained relatively costly in comparison to other countries. An apartment in Bern is around 13 times more expensive than a house in Bulgaria. Similarities can be noted in Paris, despite the reshaping of real estate costs, amongst these costly European capitals.
Perhaps investors would prefer to opt for a city such as Sofia, Amsterdam, Vienna, Berlin, Stockholm, Lisbon or Prague, where housing prices are not only accessible but are also convenient.
In Germany, the government has decided to simplify credit access to speed up the process of buying and selling of real estate. Subsequently, the sector has benefited. In terms of mortgages and loans noted progress is being made. Switzerland is also attempting to streamline its bureaucracy in order to simplify the process of buying, despite the high prices.
Currently the most convenient place to buy, is without a doubt Bulgaria. On the contrary,high-end real estate in the Czech Republic, is more or less at a standstill. It is possible to find prestigious houses with favorable prices in Portugal. The Netherlands on the other hand, is penalized by the fact that obtaining a loan or a mortgage here is more difficult than in any other European country.