An increasing number of Pakistanis are investing in property in European cities. It has become easier to do so and the ROI is about 15 to 20% per year.
Here are three cities to consider:
1. Berlin
Named one of the top cities for investment by PricewaterhouseCoopers earlier this year, Berlin is believed be Europe’s largest residential buy-to-let market. Prices and rentals have increased by nearly 50% in the last three years; annual rental yields range between six and seven percent and the ROI ranges between 15 and 20% per year.
Popular options include: One-end two-bedroom apartments in Berlin-Mitte and Kreuzberg
Covered area: 120-300 square meters
Purchase price range: Rs 200,000-400,000 per square meters
Monthly rental range: Rs 8000-1,500 per square meters
2. London
In the aftermath of Brexit, London’s property in London is comparatively cheaper per square meters than most other cities of its stature and offer a comparatively higher rental yield, Which stands between seven and eight percent a year. The ROI ranges between 14 and 17% per year.
Popular options include: One –and two-bedroom apartments as well as mid-sized houses in Canonbury, Finsbury Park and Marylebone
Covered area: 120-300 square meters
Purchase prices range: Rs 150,000-300,000 per square meters
Monthly rental range: Rs 700-1,300 per square meters
3. Vienna
Considered a gateway to Central and Eastern Europe, Vienna has a promising property market where price and rentals increase by nearly 15% each year. Annual rental yields ranges between eight and nine percent of the value, while the ROI ranges between 15 and 23% per year.
Popular options include: Mid-sized retail space in Mariahilf and Neubau
Covered area: 25-100 square meters
Purchase prices range: Rs 300,000-500,000 per square meters
Monthly rental range: Rs 1,500-2,000 per square meters
By Syed Wajeeh ul Hassan Naqvi. Information provided by Francis Dolley, MLCS, UK.