The Sunday Times Rich List of the UK’s top 1,000 wealthiest individuals, was published this week. The brothers Sri and Gopi Hinduja topped the list with a combined estimated worth of £22 billion – more than the entire GDP of dozens of large countries around the world!
It got me and the team thinking; if you were on the list, how would you spend your money? And if you were going to buy some luxury overseas property, where would be the best places to invest right now?
After much thinking, debating and re-thinking, here are my top three picks for the best places to invest (whether you suddenly find yourself catapulted unexpectedly onto the rich list next year, or not):
The small Mediterranean island of Ibiza is one of Europe’s most popular holiday destinations for a reason. It offers something for everyone; from beautiful solitude to hard-core partying and everything in between.
Personally, I think that the west of the island is where you’re most likely to find an idyllic home, whether it’s for occasional holidays or longer-term stays. The area surrounding the beach at Cala d’hort is magical with stunning scenery, including the mythical Es Vedra rocks formations.
It’s the perfect place to live a leisurely lifestyle. You can spend the late afternoon and evening in bars, listening to amazing DJs while watching the brilliant Mediterranean sun sets. It’s great for apartment living. The food is fantastic too with some of the best fresh fish and sushi dishes you’ll find in the whole Mediterranean region.
It’s not only the lifestyle that’s appealing; in the luxury property market, values have rocketed by approximately 170% in the past ten years – and as much as 5% since the end of 2012 – and this trend shows no signs of changing as demand for property continues to outstrip supply.
In 2018 – according to Pisos.com – the average price of a property in Spain was 1,546 €/m² and the figure for the Balearic Islands, including Ibiza, was and average of 2,208 €/m². This is the second highest in the country after Cantabria at 2,639 €/m² and slightly more than the Spanish capital of Madrid 2,043 €/m².
Even better, for those that are fortunate enough to invest in Ibiza, a lucrative phase of regeneration is underway. The San Juan road running along the spine of the island has been widened and is now able to handle more traffic meaning the north of Ibiza is more accessible than ever.
The resort town of Estepona on the south coast of Spain is a perfect place for apartment living with beautiful palm-lined promenades ideal for leisurely evening strolls in the golden sunlight. It’s part of the Costa del Sol so there’s no shortage of things to do, or opportunities for living luxuriously.
To take full advantage of Estepona, it’s best to have a small car and there are classic sandy beaches that are great for families in both directions along the coast. It’s a perfect place to enjoy a tapas lifestyle hanging out in cafes morning, noon and night.
If you were on the rich list, I’d upgrade from an apartment to a house or villa with a plot of land attached; requiring a more sizeable injection of cash. Whatever you choose, maximise your investment by using the property for yourself out-of-season, then renting it out during the school holidays.
You miss the beaches and seaside but what you get in return by buying a luxury property in this region, is definitely a fair swap. The scenery in the French Alps is spectacular with some of the most breath-taking views in the whole of Europe.
Split between the Auvergne-Rhône-Alpes and Provence-Alpes-Côte d’Azur regions, some of the mountain ranges of the French Alps are entirely in France, while others, such as the Mont Blanc massif, are shared with Switzerland and Italy.
But it’s not just the geography that shapes the region’s character, it’s the dramatic change of seasons from summer to winter too; although the Alps’ status as a global hub for adrenalin junkies and thrill-seekers around the world doesn’t change throughout the year.
Some of the best places to consider making a luxury property purchase include Chamonix, Annecy, Grenoble, Aix-les-Bains, Val d’Isere and Evian-les-Bain. Whether you’re looking for a place to hike peacefully, or a base for serious adventure sports, the French Alps is spectacular (and it’s only a relatively short drive to the beaches of the south coast if you want a change).
Thinking you might find yourself on the renowned rich-list? Let us know where you’d spend your hard-earned money and why!
Don’t forget to book a call with the Unique Living team to learn more about how we can help you buy your dream luxury property abroad.