By Marine Proudhon
Who has ever thought of having a second home, renting a holiday home to spend time with their family or enjoy their next vacation?
This trend is very common in Europe, especially in France. France is the European champion of holiday home/second homes with more than 3 million properties.
These residences, often inhabited less than 42 days a year, are more and more popular in Europe.
But choosing between prices, location and quality of life, can be difficult. We have listed a few essential points you can use before you start on your adventure to find your perfect second house.
Which places are of particular interest for a second home?
The place is an essential point when you are opting to buy a second home! Indeed, it is one of the first questions that you will ask yourself, before buying the second house of your dreams. Why? Localization is a determining factor. The prices will not necessarily be the same, also the activities you will practice and the aesthetics of your second home will not be the same either.
According to several studies of the INSEE (The National Institute of Statistics and Economic Studies), we can notice that certain areas are of particular interest. Indeed, there is a large number of second homes close to the coast, though the amounts close to the mountains and close to the big cities are also relevant.
According to INSEE, 44% of the population would prefer to invest in a second home in or close to a seaside resort.
No matter which country you choose to buy a second home, the coastlines such as Deauville are ideal if you want to enjoy the beach in summer. Conversely, the mountains will appeal to you if you like the calmness of mountains, winter sports, or hiking. The location is bound to have an impact on your activities, outings and lifestyle.
A property in the countryside: the new trend
In recent years, there has been a strong interest in buying a second home/holiday house in the countryside. This is especially the case for people living in big cities who love to recharge and rest in the countryside. Spending your holidays in the countryside means enjoying outdoor activities and a slowing down in a relaxing environment.
A house in the countryside can also be ideal if you want to invest in a larger living area for your second home. Indeed, countryside residences can be cheaper to buy than a house close to the sea or in the mountains.
Who is allowed to buy a property?
Sometimes it is not so easy for EU citizens to buy a property in certain countries. In some countries, different rules apply to locals who want to buy a property than to foreigners. Read here to find out in which countries you can expect restrictions for your future second home.
What are the average prices of a second home ?
Surely you want to know how much your future holiday home will cost you on average. We have compiled a table with average prices per square metre for different cities/countries.
| Region | Price per squaremeter |
|---|---|
| Rügen | 3000 - 10000 € |
| Sylt/Norderney | up to 21000 € |
| Amrum/Wangerooge | 8000 € |
| Portugal | 1260 € |
| Corsica | 3000 € |
| Ibiza | from 8000 € |
| Mallorca | 3680 € |
| Cote d'Azur | from 3000 € |
| Cannes, St. Tropez, Monaco, Nice | from 10000 € |
| Cyprus | from 800€ |
The above prices vary greatly depending on the location of the property and the economic situation of the country. In addition to these costs, however, you should not forget other recurring expenses.
As a second home might be inhabited during the year, you might face some expenses because humidity damage, exterior painting (on the beach paint is easily damaged), exterior maintenance, housing taxes if there are any, home insurance, swimming pool maintenance costs and many more.
What are the additional costs for a second home?
Be sure to find out about the following costs in the city where you want to buy a property:
- Real estate transfer tax
- Notary fees
- Land registry costs
- Broker commission
Taxes and laws are all different in different countries. It can sometimes be difficult to find your way around.
If you decide to buy a property abroad, you must report this to the tax office. A tax advisor, who may even specialise in foreign real estate, can help you with the tax laws applicable to the different countries.
Buying real estate: tips for buying abroad
- Be sure to carry out the purchase of the foreign property with a notary. This will protect you from possible surprises. If necessary, get a professional interpreter.
- Have the purchase contract drawn up in two languages. In southern countries, oral promises are sometimes sufficient for the conclusion of a purchase contract. With a bilingual, written document, you can carefully review all the terms of the contract.
- Never buy a property without viewing it first. If you rely only on the pictures, you can easily fall victim to fraudsters.
What are the advantages and disadvantages?
Choosing to invest in a second home can be difficult. There are advantages and disadvantages. Fly Aeolus has made a table to make the decision more easy:
Advantages :
- To be at home, even on holiday
- Build capital
- Make a profit from it (if renting)
- Have somewhere to travel
- Living in several cities
Disadvantages :
- Extra charges
- The market is not at its best for this type of residence.
How to get to your new residence?
Getting to the place of your second home can be difficult, especially if it is not in the same country, or when it is located in rural places. The nearest commercial airport is often several hours away, therefore requiring post transportation to your final destination.
Fly Aeolus, can take you closer to your final destination, as our planes can land at smaller airports. This way we save you precious time, so you can spend more time at your holiday destination.
By the way, did you know that we can offer you different memberships if you fly regularly with Fly Aeolus to your new dream home? Feel free to take a look at our different memberships.
Private jet to your second home
To know all our destinations, do not hesitate to consult our destinations. Fly Aeolus can bring you as close as possible to your second home in Europe. To get an idea of the price to fly with an air taxi to your holiday home, have a look at our price calculator.
If you are rather renting a place for your holidays instead of buying a second home, then you should check out our blog on “The 7 most beautiful and luxurious Villas for rent” for sure.
If you have any questions, do not hesitate to contact us at info@flyaeolus.com or call us on +32 (0)3 500 9082.
Fly Aeolus hopes to welcome you on board soon!