Style, security and splendour: Europe’s prime property hotspots for 2024
When it comes to buying a luxury holiday or second home in Europe, discerning buyers are prioritising stability, security and a climate compatible with their lifestyle. Here, we explore four locations you should have on your radar in 2024.
In an era marked by escalating global house prices, Europe remains the ultimate magnet for international buyers seeking a luxury home. Today, many are in pursuit of enduring investments – exquisite homes that promise value for money, safety, robust infrastructure and a climate attuned to their lifestyle. Mark Harvey, Head of Knight Frank’s International Department, shares his insights into four European locations that buyers should earmark in 2024.
Sweden
Sweden, often overlooked in favour of its European counterparts, is fast emerging as a favourite destination for property investors. “The values are extraordinary,” Harvey notes, attributing the market’s drop to susceptibility to rising interest rates. Add that to the Swedish Krona’s depreciation against the Euro, and it’s an opportune time for foreign investors to snap up a deal.
Harvey underscores Sweden’s appeal as a low-density country with beautiful landscapes, coupled with a compassionate community and forward-thinking government leading the way in environmental initiatives. The tax landscape further sweetens the deal with no transfer tax or stamp duty – a rarity in many European markets.
Four bedroom penthouse for sale near the beach in Ribersborg, Malmö. Asking price: kr10,995,000
Property in Stockholm and Gothenburg is attracting attention among buyers, particularly in waterfront locations, where riverside warehouses have been redeveloped into stylish apartments within sleek new neighbourhoods. Harvey highlights Malmö, Sweden’s third-largest city, as a strategic investment, serving as the gateway to beautiful coastlines and Copenhagen, just 35 minutes away by train. View the latest properties for sale in Sweden
Switzerland
Renowned for its pristine lakes and the Alps, Switzerland is a haven for those yearning for privacy and tranquility. “Having space and being away from crowded places are highly prized today,” says Harvey. “People are now more aware of how busy areas impact their lifestyle and encroach on security. Privacy is a luxury that comes with the Swiss Alps.”
Despite residency restrictions, those prepared to navigate the process will find genuine value in Swiss Lake properties and resorts in the foothills of the Alps, such as Crans-Montana and Villars. Evolving beyond mere ski resorts, these areas offer exceptional year-round living with top tier international schools and robust infrastructure. View the latest properties for sale in Switzerland
Three bedroom chalet for sale in Verbier, Valais. Asking Price: CHF9,500,000
North Tuscany
For those in search of a genteel life in plush and historic surroundings, consider Northern Tuscany. The region stretching from Florence to the coastal areas of Lucca and Forte dei Marmi offers a perfect blend of history and elegance. The Apuan Alps provide not just a picturesque backdrop but also a climate characterised by hot summers with refreshing coastal breezes
Italy, perhaps surprisingly, still offers value in its real estate, with a mix of old buildings, historic palazzos and luxurious modern builds in well-connected locations. Those who take up residency can take advantage of Italy’s flat tax regime, which has seen the international jet set lay down roots here in increasing numbers each year since being introduced in 2018.
There are many excellent international schools dotted around Florence and Lucca, two international airports, and proximity to the beach for sun, the mountains for skiing, and Milan for world-class culture and shopping. "In Italy, you’ve got to be a little bit more savvy," Harvey says, "but it is absolutely worth the effort.”
Corfu
For an exceptional holiday home or potential retirement destination, Corfu should be on your radar. The favourable tax landscape, pristine seas and, as Harvey says, “an increasingly international feel that is safe and has very high-end properties” have created a truly idyllic location.
The island’s extended usage season beyond the crowded peak months adds to its appeal. “Fewer homeowners are there in July and August, but that’s the time when you can really maximise your returns on the asset. It’s a wonderful place to be in May, October and November; the temperature is slightly cooler and you're surrounded by a diverse international community.”
Five/six bedroom waterfront home set within Emerald Bay, Kassiopi, Corfu. Asking price: €6,750,000
On the East Coast, you’ll find sublime waterfront homes, “where the sea is literally lapping at the bottom of your garden,” Harvey explains, at a fraction of the cost of comparable destinations. “Compared to France or Spain, it’s far cheaper,” he adds.
