Expats: For 2021 relocation, four European countries are giving Spain a run for its money.
EXPATS relocate to other countries for a variety of reasons, but it is generally a costly procedure. However, according to a recent study, “up-and-coming” European destinations may be the most “profitable” for people wishing to relocate abroad. Which countries made the cut?
Every year, millions of British expats migrate across Europe, whether to seek sun or relocate for job. According to new study, there are several “up-and-coming” hotspots on the continent that could actually improve expat income.
When it comes to “profitability” for expats, Bethany Hemsley, an overseas property consultant at Property Guides, believes that some European countries are giving Spain, France, and Portugal a run for their money.
Iceland has a spectacular landscape, including volcanoes, glaciers, and geysers.
These natural treasures, however, aren’t the only thing that could entice newcomers.
As Ms. Hemsley points out, the earning potential of living and working in the north is often incomparable to that of other areas.
“It’s no secret that Iceland is costly, and the average cost of living for a single person in Iceland is significantly greater than in other European cities,” she noted.
“However, earnings are often higher in Reykjavik, with workers earning almost £1,000 more per month on average than in Madrid or Rome.
“Basic utilities are also among the cheapest in Europe, thanks to the fact that practically all electricity is generated by hydropower or geothermal energy.”
Property prices, according to Ms Hemsley, might potentially be a key draw.
“Reykjavik is the place to look if you’re searching for a decent investment,” she said.
“In the city, average property prices are around £3,609 per square metre, and there is plenty of possibility to make a comfortable living from rentals.
“The average monthly rent in the city for a one-bedroom flat is roughly £1,100, and there is a significant market for Airbnb rentals as well.”
According to the World Happiness Report, Finland has been ranked the happiest country in the world for the past four years in a row.
Its capital city, according to Ms Hemsley, might be a particularly appealing location for expats.
“The capital Helsinki is a terrific spot to discover the wonders of Finland,” she explained.
“It is a modern metropolis with excellent transportation ties to the rest of the country as well as the rest of Europe.”