Why did the capital drop off the list?
London property owners, wipe that smug smile right off your face as the capital is no longer among the top 10 European cities to invest in property.
To add insult to injury, Birmingham (at sixth place) beat the capital which came in 15th on PwC and the Urban Land Instituteโs latest real estate report.
The research – which included interviews from more than 500 developers, investors and property managers a – found that Berlin is the best place in Europe for property investments.
The cityโs status as a hub for creative and tech industries is what won it the top spot.
Gareth Lewis, the director of real estate at PwC, said: โLondon is the largest real estate market in Europe.
โMoney tends to plough into it during the harder times, as people are looking for a safe bet, somewhere to keep their money, and as prices go up and yields compress, people looking for better rewards will look to secondary cities.
โAnd thatโs when you see cities like London slide out of the top 10. Itโs not a long-term damning of the London market by any stretch of the imagination. Itโs just a reflection of where we are in the cycle.โ
Take a look at the top European cities with the best investment prospects
- Berlin
- Hamburg
- Dublin
- Madrid
- Copenhagen
- Birmingham
- Lisbon
- Milan
- Amsterdam
- Munich
- Stockholm
- Barcelona
- Budapest
- Istanbul
- London
- Helsinki
- Warsaw
- Edinburgh
- Prague
- Frankfurt
- Brussels
- Paris
- Vienna
- Zurich
- Rome
- Lyon
- Athens
- Moscow
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Now read:
Mind-boggling property stat – value of UK homes rose by ยฃ1.4bn EVERY DAY in 2015
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