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Where to buy a holiday house: Hidden gems of Europe

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Where to buy a holiday house: Hidden gems of Europe

European countries have world-famous travel destinations, picturesque mountains, old cities and castles, and sunny Mediterranean beaches. Yet when your goal is to find a second home to spend precious time with family and loved ones, sometimes you want to get further away from buzzing cities and overcrowded sites. Buckle up, as you’ll learn the two hottest secret spots in Europe!

How to make wise investments in holiday real estate?

When buying a holiday home, you should first consider it an investment. Therefore, search for an up-and-coming growing market that will guarantee you a successful sale in the future. If you start researching property for sale Limassol, you’ll find out that this city in Cyprus is booming with affordable villas with seafront views or apartments in the middle of the old town. Another secret for successful investing is exploring options outside of the world-famous resorts. If you’re digging the French summer vibe, try to find Deauville property for sale instead of competitive Nice or Paris.

 

Hidden gems for your real estate investment:

  • Limassol, Cyprus
  • Deauville, Normandy, France

Those two spots have a fast-growing market with trendy and historical options to satisfy your taste. Whether you fancy living in a small castle or manor or having a seafront villa and swimming in the turquoise sea, you’ll find what you are looking for in Limassol and Deauville. Mountain lovers can explore the housing options in small yet stunning Davos in Switzerland. On the other hand, try Algarve, Portugal, or Montuiri, Mallorca, for immersing in endless summer in luxurious villas.

 

What makes Limassol a great holiday destination?

The Mediterranean city attracts foreigners by its stunning beaches, sailing possibilities, buzzing social life, and excellent location to discover more of the small villages up in the mountains or on the coast.

  • The best place to discover the local cuisine

Limassol is a metropolitan area with many restaurants, bars, and local wineries. In the city, you can find world-class high-end restaurants with elevated Mediterranean recipes that put a new perspective on Greek and Cypriot cuisine.

 

  • Get immersed in the true Cyprus lifestyle.

The buzzing city is full of cultural and social events that allow you to meet friendly locals and experience famous lifestyles. Whether you’re a life of the party or prefer relaxed wine tasting and museum visit, there always will be something to put on your schedule.

 

  • Explore the land and sea

There is a reason why Limassol became a growing metropolitan area, and location is one of them. You can reach unique villagers, immerse in history and culture, and explore wild beaches alongside the coast by car. However, Limassol opens up a beautiful Mediterranean sea for your adventures, whether you prefer a lazy day on a yacht or sail around the islands to see untouched beauty.

 

  • Stunning hotel-like villas and mansions.

The real estate market is diverse and offers many convenient housing options, from apartments close to all historical sites and restaurants to editorial villas with swimming pools and luxurious amenities away from the buzzing city life. Limassol had far more affordable real estate options than the rest of the Cypriot cities and plenty of fixer-uppers for rental projects. The only thing you should be careful about while home shopping in Limassol is scams in the housing industry. Therefore, find a trustworthy local real estate agent to secure your investment and get the best-suited options for your needs and vision.

 

Reasons to buy a holiday house in Deauville

  • Great location to explore France.

As one of the biggest European countries,  France offers a buffet of tourist attractions. Therefore in summer, major travel destinations like Paris, Cannes, Nice, and Provance can be overcrowded and overpriced, getting in the way of a perfect European holiday. Deauville is a picturesque city in Normandie, only a couple of hours away from Paris. It opens up an opportunity to immerse into authentic French culture, meet friendly locals, and explore the northern cuisine and breathtaking nature. Each experienced traveler knows that the beauty of France lies in the small villages, which you can easily explore by car or even take a ferry to the UK.

 

  • Cosmopolitan feel

Deauville is a small town, yet it hosts film festivals, welcoming thousands of world-known celebrities each year. Festivals boosted the economy of the city,  offering locals and guests of the city various high-end restaurants, bars, and cultural events.

 

  • The rich history and significant architectural value

Normandie is a popular summer destination for French people. Therefore, you will have a unique chance to embrace the culture and learn the rich Normandie history. The architectural style of Deauville won’t leave you disappointed. Depending on your budget, you can find villas, new Norman houses, manors, and small castles. Deauville is a magical place that offers you a glimpse of a completely different side of France.

 

The final word

Buying and owning property in European countries doesn’t give you residency. Therefore, research visa solutions depend on your country of origin before investing, so nothing gets in your way of visiting your second home whenever you prefer.  Rember to use the authoritative websites of the French and Cyprus governments to find all the legal solutions. Some countries like Spain and Portugal offer Golden Visa programs for investors to lure promising entrepreneurs into the country. Golden Visa is an excellent opportunity to gain EU residency and access to free healthcare and education.

 

 

Real eState

Greater Toronto home sales jump in October after Bank of Canada rate cuts: board

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TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.

The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.

The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.

“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.

“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”

The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.

New listings last month totalled 15,328, up 4.3 per cent from a year earlier.

In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.

The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.

“I thought they’d be up for sure, but not necessarily that much,” said Forbes.

“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”

He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.

“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.

“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”

All property types saw more sales in October compared with a year ago throughout the GTA.

Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.

“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.

“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”

This report by The Canadian Press was first published Nov. 6, 2024.

The Canadian Press. All rights reserved.

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Homelessness: Tiny home village to open next week in Halifax suburb

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HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

The Canadian Press. All rights reserved.

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Here are some facts about British Columbia’s housing market

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Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

The Canadian Press. All rights reserved.

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