In recent years, Americans have started to regard Europe residence as an excellent opportunity to reduce living expenses without compromising the quality of living. That’s why obtaining a residence permit in Europe is a pressing matter for them.
Over the first quarter of 2022, US home prices increased by 18.7% compared to 2021. This is an elevated rate, especially in correlation with the pricing of residential real estate in the EU, which rose only by 10%.
Cost of Living vs Quality of LifeThe second essential parameter to look at is the inflation rate. In the US, inflation amounted to 8% as of October 2022, which is among the highest registered rates since 1980.
For more than 20 years, the value of the euro had been higher than the dollar. But in July 2022, the euro fell below the dollar, indicating the high depreciation of this currency and the growing recession.
From land and commercial property to residential property, Spain encourages foreigners to invest in all property types. The average cost of residential real estate in Madrid is about €3,243 per square meter (€301 per square foot).