There are various reasons why you might be considering investing in a second home abroad. You may want to test the water to see if you could live overseas permanently. You may want a holiday bolthole for your family and friends to enjoy. Alternatively, you may have inherited a property from a loved one and you’re considering investing the equity in a second property that can act as an investment as well as a holiday home.
If you’re the latter, it can be overwhelming knowing where to start with inheriting a property unexpectedly. There’s all kinds of hurdles to overcome before the cash value of the house is actually in your back pocket. It doesn’t have to be that way though.
In fact, there are services out there which can help you to liquidate an inherited property very fast indeed. At SellHouseFast.uk, they commit to making a cash-buy offer within minutes of an enquiry being made online. The offer is usually worth up to 90% of the property’s market value, which covers all the necessary legal fees too. This is especially helpful if you find a second home you want to buy in a competitive market and you need the funds to put down a deposit quickly.
If you’re in the fortunate position of already having the funds waiting to invest in a second home abroad, read on as we divulge three European nations that are considered underrated gems as long-term holiday boltholes.
Portugal – Look Beyond the Algarve
When Portugal is normally mentioned, the only place that’s usually on the lips of property investors is the Algarve. However, there are multiple areas of Portugal that so often go under the radar. Not least the ‘Silver Coast’ positioned north of Lisbon. Its beaches are up there with some of the best in the Algarve and their quintessential towns of Obidos and Nazare offer a charming, relaxed pace of life.
Alentejo is another underrated area that’s nicknamed the ‘Tuscany of Portugal’. It offers rolling hills, expansive countryside with multiple local vineyards, not to mention historic towns such as Evora. The country also rewards overseas property owners thanks to its Non-Habitual Resident (NHR) scheme, which was revamped in a 2.0 version this year, as discussed by GetGoldenVisa.com.
Slovenia – The Most Stunning Scenery
Nestled between Austria, Italy and Croatia, it’s not difficult to see why Slovenia has the potential to offer some of the most stunning natural landscapes in the continent, if not the world. With a mountainous scenery like the Julian Alps and the serenity of Lake Bled, there’s something for all holidaymakers in Slovenia.
Even the capital city of Ljubljana is a delight, offering a high quality of life. The property market is very fair too, giving you plenty of bang for your buck. If you’re an outdoors person and enjoy watersports, skiing and hiking, Slovenia could be the perfect hideaway for you, while on the doorstep to other major European cities like Vienna, Venice and Zagreb.
Bulgaria – Inexpensive Coastal Living
Bulgaria is considered one of the most affordable property markets in Europe. Its coastal towns which line the Black Sea, namely Burgas and Varna, offer consistently good weather, rich heritage and culture on tap.
One of the main draws to Bulgaria as a prospective second home buyer is the low cost of living and the rock-bottom property values. According to Numbeo.com, the cost of living in Bulgaria is 39.7% lower than in the UK. Even beach front postcodes are available for a fraction of what a comparable property would be in western Europe. There’s also ski resorts at the other end of the spectrum like Pamporovo and Bansko.
Although European nations like France, Spain and Italy tend to dominate the second home market, it’s good to celebrate some of the lesser-known and more affordable countries that can offer exceptional vacation experiences and sound investment potential.
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