Why does Europe attract foreign residents? The real estate market in major cities.

10th place: Paris

This magnificent city can rightfully be considered the most artistic and bohemian capital of the world. Paris has become a symbol of sensual pleasures and exquisite aesthetics, attracting many people from all corners of the earth.

As notedErich Maria RemarqueIn Paris, one can enjoy life and relax. More than 14% of the city's population consists of people born outside its borders, with over 10% being citizens of countries that are not part of the European Union.

An interesting fact: if it weren't for the high housing prices, the number of people wanting to come or settle here would have increased significantly. Paris is not just about fashion trends and an elite lifestyle, but also about colossal real estate expenses.

• The cost per square meter in the capital starts at €10,000.
• A standard two-room apartment can be purchased for an amount exceeding half a million euros.

For those looking for more affordable options, it is recommended to consider the suburbs.

9th place: Madrid

The Spanish capital attracts many residents from other countries, despite the lack of beach resorts, which is often the main reason for relocation. In Madrid, migrants make up 15.5% of the total population, and many of them are eager to settle here permanently, advancing their careers.

The city can offer prestigious neighborhoods with high real estate prices.

• Prices range from €10,000 to €15,000 per square meter.
• In residential areas, you can find more affordable options, where the price is around €2000 per square meter.

In general, you should expect to pay around €4000 per square meter if you are looking for an apartment in Madrid.

8th place: Athens

Here, in the capital of Greece and its surroundings, more than a third of the country's population lives, which amounts to over 4 million people, half of whom are foreigners. According to statistical data, 17.4% of Athens' citizens are people born in other countries.

The majority of migrants come from countries outside of Europe. Real estate in Athens varies in its price categories:

• There are areas with high crime rates and low prices, for example, the Omon district on the square of the same name, where you can buy a small apartment for €15,000.
• In more prestigious areas, such as Glyfada, prices start from several hundred thousand euros.

7th place: Vienna

Almost 20.1% of its residents were born outside the city. Vienna, despite lacking access to the sea, serves as the main attraction for migrants in Austria. Although the country is known for its ski resorts, only a few choose to stay here permanently.

Many newcomers dream of stable jobs and a comfortable place to live, hoping that Vienna will become their new home.

Vienna: The Austrian capital with a high quality of life

Vienna, the capital of Austria, is renowned for its high quality of life, stable economy, and well-established job market. The city's architectural beauty and vibrant cultural life create a unique atmosphere, making Vienna increasingly attractive to immigrants.

In recent years, there has been a growing interest in the housing market, which has directly impacted real estate prices: the average cost per square meter has already reached impressive levels.€4000Just five years ago, the opportunity to buy an apartment cost...€2500per square meter, but as of today, every fourth apartment in Vienna has a price tag starting from€500,000and every second one starts with at least€300,000.

Tallinn: The Cosmopolitan Capital of Estonia

Next in line is the capital of Estonia — Tallinn, a small and multicultural city where21.1%Many of the residents are foreigners. This is not surprising, as there is convenient communication in Russian here.

According to Eurostat data, only0.9%Foreigners living in Tallinn mostly come from European Union countries. Housing prices in this city remain relatively low compared to other European capitals. For example, new quality housing on the outskirts can be purchased starting from€1500per square meter, while in the center the price starts from€2500.

The most prestigious and expensive apartments are located in historic districts, where the price per square meter reaches€3500.

London: A Metropolis for Businessmen and Students

London, the capital of the United Kingdom, deserves the fourth position on our list. According to Eurostat data, one in five residents of this metropolis is a foreigner, and this number continues to grow. London has become a sought-after destination for business professionals, students, and anyone looking to improve their quality of life.

Experts from the Boston Consulting Group have named London the most advantageous city for migrant workers. However, it also turned out to be the most expensive city for renters: according to Savills' estimates, by...2014In the year, housing prices reached the mark of€600,000that is twice the average cost across the country.

Riga: Affordable housing in Europe

Riga is in fifth place, where26%The local population consists of foreigners. This high percentage is due to historical circumstances, as there has traditionally been a large number of Russian speakers living in Latvia.

Many Russians who were unable to obtain citizenship after the collapse of the Soviet Union remain so-called "non-citizens." The number of foreigners in Riga has increased due to a government program that allows for residency permits through the purchase of real estate.

Despite this, the real estate market remains relatively affordable, and prices for new apartments in the suburbs start at€700per square meter.

Real estate prices in Riga

In the Riga real estate market, apartment prices range from €1000 to €3000 per square meter. However, it's worth noting that housing on the secondary market is often more affordable. In unique residential projects located in the very center of the Latvian capital, prices can reach an impressive €6000 per square meter.

Zurich: expensive real estate

If we talk about other cities, Zurich in Switzerland ranks third in this case. The mentioned country is known for its strict immigration laws, which makes the process of entry for foreign citizens somewhat complicated. Acquiring real estate does not guarantee the right to permanent residency.

Zurich regularly appears on lists of the most expensive cities in the world, and despite the high cost of living, the percentage of foreigners here is impressive –30.9%The population consists of citizens from other countries, the majority of whom have migrated from European Union countries.

Prices for apartments and villas in Zurich are rising to significant heights, and to start exploring this market, you need at least half a million euros. Even with such a budget, you can only expect fairly modest housing options.

Brussels as an international center

On the second line, we place Brussels. This is because the capital city of Belgium is the center of many international institutions, including the headquarters of NATO and various bodies of the European Union. Every third resident of Brussels is a foreigner, among whom...20.3%% arrived from EU countries.

The real estate market in Belgium is showing stable indicators, with minimal price fluctuations. Over the past few years, the market value per square meter in Brussels has fluctuated around€3000and most transactions are conducted within€200,000-500,000

Luxembourg: a leader in international population

Luxembourg, the capital of the eponymous duchy, rightfully takes the top spot in our ranking. This small country stands out because foreigners make up63.8%% of the total population, which makes local citizens a minority.

Many expats work in Luxembourg, taking advantage of the favorable tax system. The cost of real estate in this country continues to rise, and currently, the average price per square meter is around€4500.

New buildings are more expensive than apartments on the secondary market, and housing in the central districts of the city is valued higher than in the eastern and western parts. However, despite their size, even in the most remote areas of Luxembourg, one can comfortably settle in and be in close proximity to the main events happening in the country.

Conclusion

In conclusion of my analysis, I want to summarize some key points regarding the attractiveness of European capitals for immigrants and potential real estate buyers. As seen from the discussed renowned cities, living in capital metropolises offers numerous advantages, including a high quality of life, rich culture, and a vibrant social environment. However, alongside these benefits, there are several significant economic barriers, such as high real estate prices, which can pose a serious obstacle for many migrants.

Each of the mentioned cities has its unique characteristics, from the romance of Paris to the dynamic life of London, showcasing an incredible diversity of cultures and opportunities. The vibrant presence of foreign citizens in these capitals highlights the global nature of the cities, where opinions, traditions, and lifestyles blend together.

Key points:

• High quality of lifeand its rich culture attracts many immigrants.
• High real estate pricesare a significant barrier for migrants.
• Every city has its unique features and advantages.
• The diversity of cultures and traditions in megacities enriches life.

I noticed that despite the high costs, for example in Paris and London, many still strive to establish their lives in these places. On the other hand, more affordable options like Tallinn and Riga offer an interesting balance between price and quality of life, thereby attracting new residents.

Ultimately, the choice of a capital city to move to depends not only on financial capabilities but also on personal preferences, which can vary greatly. I hope this overview helps those who are considering new opportunities to better understand what each of the mentioned places has to offer.