Lisbon is one of the oldest capitals in Europe, but its age is only evident in its historical landmarks and architectural monuments. Venice, founded in 1861, seems quite young in comparison, but that did not help it withstand the influence of time. While the ancient Portuguese city is turning its years to its advantage and attracting tourists, the canal capital lures foreign guests by preparing to sink underwater by the end of our century. Today, we invite you to compare prices for maturity and youth, stable development and equally stable decline. It is interesting to see which one is more costly.
What do Venetian masks hide?
In Venice, you won't find a single car, and you can fall into the water from a taxi. This city is the capital of the eponymous region and is located in the north of Italy. It consists of hundreds of islands in the Adriatic Sea and has a population of 260 thousand people, the vast majority of whom earn a living from the constant interest of tourists. The half-hour gondola ride alone is worth mentioning, for which charming men in striped clothing ask for a whole €60. During the season, Venice is bursting at the seams with visitors, but this is not enough to deter investors, as they know that in the crowd, there is profit - rental income can more than cover temporary difficulties.
You can start blocking them using change one-bedroom apartment:
- Rent in the center will cost around €980/month.
- The same apartment in less popular areas costs tenants 500 € per month.
The difference in the cost of renting three-room apartments in Venice is even more striking:
- A three-room apartment in the city center is quite capable of providing its owner with everything necessary for life, because its rent is 2,520 € per month.
- In other areas, prices are more acceptable for temporary residents - 1,000 €/month.
The gondolier will need 50 hours of continuous work to save up for 1 square meter in the city center - the typical price here is around €6,000 per square meter. Those who want to buy an apartment on the outskirts can save quite a bit, as the price for a one-bedroom apartment is half of that - €2,750 per square meter. Despite the outrageously high prices aimed at tourists, the average salary in the city is only €1,550, so locals need to save up for their own housing for quite a long time. A 20-year mortgage with an interest rate of 4.9% comes to the rescue. The high interest rate on the loan is offset by an equally high yield of 4.25%. It's not a measly 1.86% at all Hong Kong.
How many banknotes the waves of the ocean bring into the pockets of homeowners
The largest port and city in Portugal can boast records both within and beyond its native country - Lisbon is the westernmost capital of continental Europe, the only capital on the Atlantic Ocean coast, and the second oldest in this part of the world. The waves have witnessed the development of Lisbon over many centuries, but even they are amazed by the current real estate purchase and rental prices.
The average cost of renting a one-bedroom apartment is as follows:
- In the center, it will be possible to rent a small apartment for 1,375 € per month.
- In other areas, you can find more moderate prices - around €940 per month.
Three-bedroom apartments offer more possibilities, but leave less money in the pocket.
- In central areas, tenants are willing to pay 2,620 €/month.
- Prices are already dropping to €1,614 per month on neighboring streets.
With an average salary of €1,316, the typical resident of Lisbon can afford not much in terms of real estate. Buying a modest one-bedroom apartment on the outskirts will require €3,090 per square meter, while in the city center, one would have to pay €6,160 per square meter. A mortgage for 20 years with an interest rate of 3.78% will be very helpful for a young investor. Unlike prices, you will be pleasantly surprised by the yield from rent because it is as much as 5.00%.