The European real estate market has seen several years of strong growth. In fact, since early 2016, house prices in the EU have risen by 4.6% year-on-year on average, outperforming wages and GDP growth. This upward trend has been widespread across countries and also large cities. House prices have risen markedly across all European countries bar Italy and have now exceed pre-crisis levels in most cases, while some countries prices are growing well above the EU average. The price growth is evident in Portugal, where prices have risen by more than 9.0% year-on-year on average since 2016. In part, the rise of house prices in Europe is due to a synchronised economic recovery. The European recovery began in 2013 and gradually consolidated, particularly from 2016 onwards when growth speeded up in most member states. This upswing has been accompanied by a notable rise in employment, with the EU's average unemployment rate falling from 11% at the beginning of 2013 to 6.3% in Q3 2019.
Berlin, the capital of Europe's largest economy, is a global centre for commerce, innovation, and politics. Over the previous two decades, the city has been revitalised and is now Germany's centre for government, technology, education, and culture. Employment development in knowledge-based and future-oriented industries has provided Berlin with a solid basis for long-term, sustainable economic growth.
Berlin has long been recognized as a world city of culture and creative industries, with many internationally acclaimed cultural landmarks, institutions, and festivals. As a result, in 2005, Berlin was named “City of Design” by UNESCO and was invited to join the prestigious UNESCO Creative Cities Network (UCCN) .
Berlin is Germany’s sport metropolis. Not only due to the many international events the city has hosted, such as the Summer Olympics, the 2006 FIFA World Cup fi nal, and the UEFA Champions League Final in 2015, but for the various professional sports clubs and events that call Berlin home.
After the fall of the Berlin Wall and German Reunification in 1990, many former communist-era East German industries collapsed. This resulted in severe job losses and depopulation in Leipzig, as many people migrated to territories in the former West Germany. However, with the newly elected Mayor Wolfgang Tiefensee in 1998 came renewed hope for the city. New strategies focusing on education, urban renewal, economic development, social integration and environmental reclamation were considered the key to renewed growth of private enterprise and attracting significant investment to the city.
Leipzig reinvented and refocused its economy on five key business clusters selected as promising industries with future high-growth potential namely healthcare, logistics, media, automotive and energy. These clusters which have experienced the highest levels of employment growth since 2005, form a robust foundation upon which the diverse economy can innovate and grow sustainably. Since the early 2000’s, Leipzig has successfully attracted a number of large-scale employers known as ‘lighthouse firms’ to the city. Nevertheless, as is also the case across the rest of Germany, the majority of employers in Leipzig are categorised as SMEs – known locally as ‘The Mittelstand’.
The city’s thriving economy and sustained population growth remain the primary drivers of the Leipzig housing market. Having experienced a decline after the fall of the Berlin Wall, Leipzig’s population has subsequently increased by 25% (+118,960) since the year 2000 and currently stands at over 600,000 residents. Leipzig is currently Germany’s fastest growing city in terms of population, with up to 750,000 residents (+25%) expected to be living in the city by 2035.
The southern-most region of Portugal featuring the country’s jewel coastline, Algarve is the largest and the most important Portuguese tourist region. Widely known for its beautiful beaches, high standards of living, world-class golf resorts and an abundance of historical sites, Algarve is becoming increasingly sought after as a permanent place to settle.
A 2016 American-based study (Live and Invest Overseas Index) concluded that Algarve was the world’s best place to retire. Located only 173 km from Lisbon, Algarve is currently home to a number of notable residents, including pop-stars, ex-heads of state and professional athletes among others. The town of Sagres, Municipality Vila do Bispo, is located in the western part of Algarve. Positioned at the most south-western point of continental Europe the town is historically connected to the early Portuguese Age of Discovery.
Sagres is one of the sunniest places in all of Europe, averaging more than 3,100 hours of sunshine a year. The town is best known for its fine beaches, a distinctive fort and some of the most challenging surfing found in Portugal.
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