The term ‘second tier’ may sound a little like ‘second class’, but it is simply a term used in Knight Frank’s European Cities Review 2014 for cities that are more affordable than top tier locations such as London and Paris – but that still come with comparable plus points, according to a recent article in the Telegraph.
The Knight Frank European Cities Review 2014 places Florence in this second category – whereas the Italian capital Rome is considered top tier. But both cities offer huge cultural and aesthetic draws to would-be city holiday home buyers – but Florence is considerably more affordable than Rome.
Equally, Amsterdam offers the excitement of a big city with plenty of culture and a relaxed vibe – but without the property prices associated with London or Madrid, for instance.
Barcelona, too, is generally thought of as ‘second tier’, but clearly offers a level of architecture, lifestyle and culture that rivals any city in the top tier – but with more affordable property.
The Telegraph article goes on to cite Knight Frank’s prediction that the top tier cities such as London and Monaco now seem too expensive for many investors who will start to be drawn to the ‘second tier’ destinations for better prospect for their money and with the added bonus of the city lifestyle.
Owning a property in a enchanting continental city is not only looking more alluring but also more affordable and suggesting that now is a good time to invest as prices are still holding steady even post recession reports The Telegraph.
So if you are thinking of buying a new holiday home and thought a city location was out of reach then you may like to look at some of these ‘second tier’ destinations.
Don’t forget to check how much it could cost to insure a property as a holiday home, before you buy. Insurance premiums and cover can vary depending on the country your property is situated in and how you choose to use a holiday home, so always check before you commit so you know what your costs will be.
Wherever you choose make sure you get suitable holiday home insurance. Click4quote.com can provide holiday home insurance for a range of popular holiday home destinations across Europe and the UK