Top 10 Destinations to Buy a Seaside Villa | New Ranking

Top 10 Destinations to Buy a Seaside Villa | New Ranking

VoM News Desk | July 16, 2024 | 09:54 PM IST | Breaking News | Follow on Google News

Top 10 Destinations to Buy a Seaside Villa | New Ranking

Top 10 Destinations to Buy a Seaside Villa | New Ranking

• New study has ranked the best and most affordable seaside villa destinations. 
• Cyprus takes its position as the top destination for purchasing a seaside villa with a total index of 5.6.
• With the lowest living costs of €586, Montenegro ranks third in the ranking.
• Cyprus and Spain have the highest number of sunny days per year of 320. 

To rank the best and most affordable seaside villa destinations, BacanaPlay has recently conducted a study to compile a list. The ranking is based on a cumulative index that considers sale prices, rental averages, occupancy rates, number of sunny days, cost of living, quality of life index, and water quality status. The data is collected from various sources, including local real estate listings, tourism statistics, and quality of life statistics. To put together the list, cities of the most popular coastal destinations were analyzed and grouped by country. The index was created considering various criteria for affordability and 

Cyprus takes its position as the top destination for purchasing a seaside villa with a total index of 5.6, which is supported by the balance of affordability, quality of life, and other factors. With an average sale price of €250K and a nightly rental rate of €80, Cyprus offers a high occupancy rate of 63% and enjoys 320 sunny days per year, making it the best destination for purchasing a coastside villa.

Bulgaria secures the second spot with a 4.8 total index. Having higher sale prices and rental rates than Bulgaria, Montenegro’s lowest living costs of €586 a month and numerous sunny days help to secure a high position. The average sale price of a villa is €163K, and the rent per night during tourist season is €68. Bulgaria has a good occupancy rate of 49.75% and offers a quality of life index of 133.5.

Montenegro ranks third, not far behind Bulgaria, with 4.79 points. With the lowest living costs of €586 a month and numerous sunny days, Montenegro closes the top 3. The average sale price of a villa is €306K, and the nightly rental rate is €101. Montenegro enjoys 240 sunny days per year and has a high water quality status of 97.50%.

Portugal comes in fourth with 4.73 points. From the analyzed coastal destinations in the country, Madeira has the highest occupancy rate of 70%, which is also the highest on the list. The average sale price of a villa is €324K in the country, with a nightly rental rate of €126. Portugal benefits from 300 sunny days annually and a quality of life index of 164.1, making the country one of the best places to own a seaside villa. 

Croatia secures fifth place with its total index of 4.53. The country has competitive sale prices of €246K in the coastal areas and a high occupancy rate. Compared to Cyprus, Croatia enjoys fewer sunny days, with 79 per year, but has a similarly high water quality status of 96.70%, which, combined with an affordable cost of living, make it a perfect destination for owning a villa.

Malta ranks sixth with 4.4 points. The average property sale price in Malta’s coastal areas is €320K, with a rental rate of €130 per night and an occupancy rate of 61%. Like Portugal, Malta benefits from 300 sunny days annually and a water quality status of 92%.

Greece takes the seventh spot at 4.1 points. With many sunny days, a moderate sale price of €232K, and a nightly rental rate of €103, Greece is a great location for owning a villa and has a prominent position in the top 10. Greece also enjoys 250 sunny days per year and has a high water quality status of 95.80%.

Spain is eighth with an index of 4.14, not far behind Greece, offering a moderate cost of living and many sunny days, the most in the list, along with Cyprus. The average sale price of the villa is €243K, with a nightly rental rate of €127 and an occupancy rate of 50.80%. 

France ranks ninth with a cumulative index of 3.77. The average sale price in the country’s coastal areas is €287K, with a rental rate of €102 per night. With 147 sunny days, the country also has an occupancy rate of 56.65%. 

Lithuania rounds out the top ten slightly behind France with a total index of 3.76. High quality of life and competitive rental prices secure the country a place in the ranking. Lithuania enjoys 66 sunny days per year and a quality of life index of 165.

A spokesperson from BacanaPlay shared, “ It is not surprising to see Cyprus as the top location for purchasing a seaside property, given its rising popularity as a tourist destination. However, one particularly interesting point from our study is the emerging trend of lesser-known destinations like Bulgaria and Montenegro gaining popularity due to their low cost of living and competitive real estate prices. This shift suggests that savvy investors and homebuyers are increasingly looking beyond traditional hotspots like Portugal and Spain, seeking out hidden gems that offer similar benefits for a much lower price. Bulgaria and Montenegro’s positions in the top three are a perfect example of the trend of seeking value without compromising on quality.his trend shows that seaside villa investments are becoming more popular, encouraging buyers to consider more affordable destinations with a high quality of life and great rental potential.”

Here is the ranking summed up: 

VoM News Desk

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