It seems Americans are taking advantage of the most favourable exchange rates this millennium has seen and are bringing their business into residential Europe, to save on luxury properties and make profits where they can.
Just a month ago, the US dollar and the euro hit parity for the first time since the early 2000s. That’s great news for those overseas trading in euros.
While it may feel like inflation has a lot to answer for these days, the US dollar is actually doing quite well on a global scale. So well in fact, it’s spurred more Americans than ever to invest in the European real estate market.
Speaking to the Wall Street Journal, Kate Everett-Allen, head of international residential research at London’s Knight Frank identified the most popular European markets for Americans. She cited Paris, Provence, Lake Como, Tuscany and Lisbon as five of the most sought-after locations.
I want to show you what each of these beguiling cities has to offer. So, I’ve pulled together the highlights of each location, adored by locals.
Provence is a popular destination for international buyers as it boasts the classic French appeal, without the Parisian price tag. Saying that, it’s far from cheap.
Celebrated for the Mediterranean sunshine, rolling hills and lavender fields, Provence has attracted many romantics and artists over the years. In fact, Van Gogh, Picasso and Rénoir were frequent visitors. Can you see yourself in this quaint province?
Locals enjoy a strolling along the promenades to see incoming boats. There’s also mountains and beaches just a short drive away for anyone that enjoys nature or hiking. Plus, lots of markets in the summer months – some operational both day and night.
Interest in Lisbon is increasing due to its affordability and suburban location. As the Portuguese capital, it’s a thriving city with homes to suit any budget. You’ll find neighbourhoods within walking distance that differ entirely in terms of looks and lifestyles, but if you’re after a typically Spanish climate and outstanding quality of life, Lisbon is a great choice.
Whether you’re after the hustle and bustle of city life or are more at home in a tranquil setting, Lisbon has it all. If you want to immerse yourself in Portuguese culture, there’s a wealth of food and drink to discover here. The locals are known for being friendly too, so don’t be afraid to interact.
Florence is timelessly beautiful, so it’s no surprise Tuscany makes the list. It’s really popular with expats who have moved to Italy in search of sea, sun and a slower pace of life.
Lucca is a charming town in Tuscany with a medieval appearance, surrounded by thick stone walls. From bell towers and Renaissance palaces, to statues and amphitheatres, there’s some truly impressive architecture here.
The historic centre is naturally the most expensive and prices vary for properties, with a median 80m² home costing €243,000. However, there are some gems to find under €1 million if you look for them.
Popular pastimes in Tuscany include visiting national parks, vineyards, horseback riding, hiking, museums and galleries and riding on Vespa’s, of course!
Renowned as a global hub for fashion, gastronomy, culture and art, Paris is a hot location. If you’re looking to invest in real estate or enjoy the bustling lifestyle, the city of lights is an ever-popular choice.
Locals fill their weekends with trips to the nearby countryside, visiting local food markets, sipping hot chocolate and becoming a frequent visitors of the city’s many museums and galleries.
While many consider La Dolce Vita to be a calming, spent sitting coffee and prosecco in equal amounts, an increasing number of international buyers are flocking to Lake Como to adopt a slightly busier lifestyle.
It goes without saying that the natural beauty of Lake Como rivals some of the world’s wonders. It’s the third largest lake in Italy and measures an impressive 146km². If your dream includes moving somewhere truly beautiful and opening your own B&B, Lake Como provides ample opportunity.
Locals tend to visit places off the beaten path, as the lake can be tourist-heavy during the summer months. On the weekends you’ll find them enjoying scenic walks and hikes around the lesser-known parts of the lake, doing water sports, visiting local villages and hamlets, and not to mention camping.
Whether you’re from across the sea or currently call Britain home, if living like a local in one of these cities sounds like your cup of tea, browse our property portal today to find your very own slice of paradise.