As the festive season gets underway and many towns and cities around Europe have a Christmas market opening, overseas property investors looking to invest around these festive markets are spoilt for choice.
Estate agent Springbok Properties has looked at the cost of buying near the best Christmas markets around Europe and how they can differ greatly between cities.
Using property price data for cities home to 20 of the best Christmas markets around, they found that the property cost of some annual festive cheer is £5,128 per square metre on average.
This cost is at its highest in London, with property costing an average of £12,976 per square metre to live in the city where famous Christmas markets range from Winter Wonderland to the Southbank Centre Winter Market to name but a few.
The second highest property cost when looking for a top Christmas market was in Zurich, Switzerland, where buying close to the historic Old Town market, situated in front of the opera house and home to more than 100 stalls will set you back £9,827 per square metre.
The Village de Noel Christmas market at the Champs-Elysees maybe be world-famous but living nearby will also cost you over £9,000 per square metre, while a place in Munich so you can make the most of the cities famous market at the Marienplatz town hall comes in just under at £8,980 per square metre.
In fact, most of the cities home to a top-rated Christmas market come with a festive property premium with Stockholm (£7,450), Vienna (£5,560), Copenhagen (£5,355) and Berlin (£5,126) all coming in over £5,000 per square metre when buying a property.
But there are some more affordable options for mulled wine, festive food, and merriment. Riga in Latvia is the most affordable location with an awesome Christmas market with property in the city coming in at just £1,570 per square metre.
Closer to home, Belfast hosts a famous market at its City Hall with Candy Alley also one of the main festive attractions, all with the cost of buying hitting just £1,900 per square metre.
Krakow in Poland (£2,179), Tallin in Estonia (£2,260) and Budapest in Hungary (£2,470) are also amongst some of the most affordable Christmas market property purchasing locations.
Founder and CEO of Springbok Properties, Shepherd Ncube, commented: As is often the case with most things, the cost of living close to anything vaguely helpful, exciting or fun is at its highest in London and this applies when comparing the best Christmas markets about.
It’s a high price to pay for those in England for some once a year festive cheer and it may well be more cost-effective to look further afield to the likes of Riga.’