Monday, July 1, 2024
Reading Time: 8 minutesA recent study shows that best cities for owning a vacation home, evaluating crucial metrics such as average property prices, annual visitor numbers, quality of life, safety, pollution, climate indexes, and rental income potential. The findings highlight Spain as the premier country for vacation home investments, with Malaga and Valencia earning the highest overall scores.
Malaga tops the list with its impressive combination of affordability, quality of life, and favorable climate. The city’s average property price is competitive, and it attracts millions of visitors annually, making it a prime location for rental income. Its high safety and low pollution levels further enhance its appeal.
Valencia follows closely, offering an attractive balance of low property prices and excellent quality of life. The city is renowned for its vibrant culture, low pollution, and significant visitor numbers, making it a highly desirable destination for both tourists and investors.
The study underscores the potential for significant returns on investment in these cities, driven by their robust tourism sectors and high livability scores. For those considering a vacation home, Malaga and Valencia in Spain present top-tier opportunities that combine economic potential with exceptional lifestyle benefits.
Experts analyzed 25 cities worldwide, ensuring a balanced evaluation by considering factors like average price per square meter (m²), visitor numbers, safety and pollution indexes, climate, quality of life, and rental income potential both within city centers and in surrounding areas. The data was sourced from Numbeo, Statista, and government websites.
Each city was scored on a scale of 1 to 100, reflecting a comprehensive assessment of these metrics. Here’s a closer look at the top ten cities:
Malaga tops the list with an overall score of 74.83. The city boasts an average property price of $3,202.34 per m² and attracts 14 million visitors annually. With a high quality of life score of 189.05 and the highest climate index of 96.98, Malaga is a prime location for vacation homes. Rental income potential is strong, with average rents of $838.26 outside the center and $1,033.20 in the center. Additionally, Malaga’s safety index of 71.3 and low pollution levels of 29.23 enhance its appeal.
Malaga, a vibrant city on Spain’s Costa del Sol, is renowned for its stunning beaches, rich history, and cultural treasures. Tourists flock to Malaga for its warm Mediterranean climate, picturesque landscapes, and diverse attractions, including the Alcazaba fortress, Picasso Museum, and bustling markets. The city’s culinary scene, featuring delectable Andalusian cuisine, and vibrant nightlife add to its charm. With excellent infrastructure and numerous festivals throughout the year, Malaga offers a perfect blend of relaxation and adventure, making it an ideal destination for travelers seeking both cultural enrichment and leisure.
Valencia ranks second with an overall score of 69.63, characterized by balanced affordability and the highest quality of life score at 199.2. The city’s average property price is $3,009.27 per m², the second lowest on the list. Valencia’s pollution index of 24.6, lower than Malaga’s, and its vibrant cultural scene make it an attractive destination for property investment.
Valencia, Spain’s vibrant coastal city, is a hub of cultural and architectural marvels. Known for its futuristic City of Arts and Sciences, historic Old Town, and beautiful beaches, Valencia offers a unique blend of the old and the new. Tourists are drawn to its lively festivals, such as Las Fallas, and its rich culinary scene, highlighted by the world-famous paella. With a pleasant Mediterranean climate, lush parks, and a thriving arts scene, Valencia provides a diverse array of experiences, making it an enticing destination for travelers seeking both relaxation and cultural immersion.
Dubrovnik secures the third spot with a score of 68.03, driven by a strong safety index of 79.9 and the second-lowest pollution index of 23.45. The average property price in Dubrovnik is $3,829.34 per m², with potential rental income at $540 outside the center and $695.25 in the center. The city’s rich history and scenic beauty contribute to its high desirability for vacation homes.
Dubrovnik, known as the “Pearl of the Adriatic,” is a stunning coastal city in Croatia renowned for its well-preserved medieval architecture and historic charm. Encircled by ancient city walls, Dubrovnik’s UNESCO World Heritage-listed Old Town is filled with beautiful churches, palaces, and vibrant squares. Tourists are captivated by its crystal-clear waters, picturesque views, and rich cultural heritage. Popular activities include exploring the city walls, visiting the iconic Stradun street, and enjoying local cuisine at seaside restaurants. With its blend of history, culture, and natural beauty, Dubrovnik is a must-visit destination on the Adriatic coast.
Porto comes in fourth with an overall score of 67.46. The city attracts 3.1 million visitors annually and boasts an unemployment rate of only 6.01%, the third lowest in the list. Rental incomes are favorable, with $893.61 outside the center and $1,106.82 in the center. Porto’s blend of historic charm and modern amenities makes it a top choice for investors.
Porto, Portugal’s vibrant coastal city, is celebrated for its rich history, stunning architecture, and renowned Port wine. Nestled along the Douro River, Porto’s UNESCO World Heritage-listed historic center boasts charming narrow streets, colorful buildings, and iconic landmarks such as the Dom Luís I Bridge and the São Bento Railway Station. Tourists are drawn to its lively cultural scene, picturesque riverfront, and delectable cuisine, including the famous Francesinha sandwich. With its warm hospitality, scenic views, and a blend of tradition and modernity, Porto offers an unforgettable experience for travelers seeking both adventure and relaxation.
The Gold Coast ranks fifth, highlighted by its second-highest rental income potential at $1,385.05 outside the center and $1,504.16 in the center, along with a high quality of life score of 198.77. The city has the second-highest climate index at 97.73 and the lowest unemployment rate of 3.30%. With 12 million visitors annually, the Gold Coast remains a central destination for vacation home investment.
The Gold Coast, Australia, is renowned for its stunning beaches, vibrant nightlife, and diverse attractions. This coastal gem offers endless outdoor activities, from surfing on its iconic waves to exploring lush hinterlands and wildlife sanctuaries. Visitors can enjoy world-class theme parks, shopping districts, and dining experiences. The Gold Coast’s pleasant climate and lively events make it a year-round destination. Its blend of natural beauty and urban sophistication ensures an unforgettable experience, making it a top choice for travelers seeking both relaxation and adventure in a picturesque setting.
Alicante is sixth, offering the lowest average property price of $2,264.13 per m². The city stands out with the lowest pollution index of 22.99, making it an attractive destination for those interested in owning a vacation property. Alicante attracts 4 million visitors per year and has a quality of life score of 183.31, enhancing its investment appeal.
Alicante, located on Spain’s Costa Blanca, is a captivating destination known for its stunning beaches, vibrant nightlife, and rich history. Tourists are drawn to its picturesque old town, Barrio de la Santa Cruz, with its narrow streets and colorful houses. The impressive Santa Bárbara Castle offers panoramic views of the city and the Mediterranean Sea. Alicante’s lively waterfront, the Explanada de España, is perfect for a leisurely stroll. The city’s delectable cuisine, especially fresh seafood, and its bustling markets add to its charm. Alicante seamlessly blends relaxation and cultural exploration, making it a must-visit destination.
With a score of 64.62, Algarve ranks seventh. It offers an average property price of $3,532.70 per m², and rental incomes of $918.40 outside and $1,080.47 in the center. Algarve’s safety index of 66.14 and its third-highest climate index of 97.36 make it a strong contender for vacation home investments.
The Algarve, Portugal’s southernmost region, is famed for its stunning coastline, golden beaches, and charming towns. Tourists are captivated by its picturesque cliffs, secluded coves, and crystal-clear waters perfect for swimming and water sports. The region’s rich history is evident in its Moorish architecture, quaint fishing villages, and historic sites such as the Silves Castle. Vibrant markets, delectable seafood, and lively festivals showcase the Algarve’s cultural vibrancy. With a mild climate year-round, the Algarve is an ideal destination for both relaxation and adventure, offering a perfect blend of natural beauty and cultural heritage.
Lisbon is eighth, with an average property price of $3,436.77 per m². The city sees nearly 6 million visitors annually and offers rental incomes of $990.54 outside the center and $1,435.74 in the center. Despite a slightly higher pollution rate at 35.12, Lisbon’s overall highest climate index at 98.59 and vibrant urban life present a well-rounded investment opportunity.
Lisbon, Portugal’s vibrant capital, enchants visitors with its rich history, stunning architecture, and lively cultural scene. The city’s narrow streets and colorful buildings in neighborhoods like Alfama and Bairro Alto are a delight to explore. Key attractions include the iconic Belém Tower, Jerónimos Monastery, and the historic tram 28. Lisbon’s waterfront, along the Tagus River, offers picturesque views and leisurely promenades. Renowned for its delicious cuisine, especially pastéis de nata, and vibrant nightlife, Lisbon seamlessly blends tradition with modernity. With its warm climate and welcoming atmosphere, Lisbon is a must-visit destination for travelers seeking a mix of history, culture, and relaxation.
San Diego ranks ninth with an overall score of 62.59. It features the highest property price in the study at $8,277.84 per m² and significant rental income potential with $2,357 outside the center and $2,779.28 in the center. San Diego is a hotspot for tourists, attracting 31.8 million visitors annually, the highest number on the list. The city’s second-lowest unemployment rate of 4.10% also adds to its attractiveness.
San Diego, California, is a vibrant coastal city known for its stunning beaches, pleasant climate, and diverse attractions. Tourists flock to iconic spots like Balboa Park, home to museums and the famous San Diego Zoo, and the historic Gaslamp Quarter, renowned for its nightlife and dining. Waterfront attractions such as Seaport Village and the USS Midway Museum offer rich experiences, while the scenic La Jolla coastline is perfect for outdoor activities. San Diego’s blend of cultural richness, outdoor adventures, and relaxed ambiance makes it a premier destination for travelers seeking both excitement and tranquility.
Split rounds out the top ten, with a higher-than-average property price of $4,891.86 per m² and lower-than-average rental incomes of $526 outside the center and $702.98 in the center. With 900,000 visitors annually, Split presents a moderate but attractive investment option for vacation homes.
Split, Croatia, is a captivating coastal city renowned for its rich history and stunning Adriatic views. At its heart is the UNESCO-listed Diocletian’s Palace, a sprawling complex of ancient Roman ruins. Visitors can explore narrow cobblestone streets, vibrant markets, and charming cafes within the palace walls. Split’s beautiful Riva promenade offers a picturesque waterfront experience, perfect for leisurely walks. Nearby beaches, such as Bačvice, attract sun-seekers and water sports enthusiasts. With its blend of historical allure, cultural vibrancy, and natural beauty, Split offers a unique and memorable travel experience for visitors from around the world.
The study highlights Spain as the top destination for vacation home investments, with Malaga and Valencia leading the rankings due to their high quality of life, favorable climate, and strong rental income potential. Other notable cities include Dubrovnik, Porto, the Gold Coast, and San Diego, each offering unique advantages for property investors.
Investing in a vacation home involves considering various factors such as property prices, rental income potential, safety, and quality of life. By evaluating these metrics, potential investors can make informed decisions and choose the best locations for their investment needs. Whether looking for a serene coastal retreat or a vibrant urban getaway, these top-ranked cities provide excellent opportunities for vacation home ownership.
Tags: Airbnb, best places to buy vacation homes, California, Croatia, Global Travel News, lisbon, Malaga vacation homes, Portugal, san diego, spain, split, top cities for vacation homes, Tourism news, Travel news, usa, Vacation Homes, Vacation Rentals, Valencia real estate
Monday, July 1, 2024
Monday, July 1, 2024
