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1. Japan
Mortgage rate: 1.21%
Mortgage in Japan is the cheapest in the world. The inflation is very low here, and real estate is very expensive. Tokyo is one of the most expensive capitals in the world, the price per square meter here starts from $ 7-8 thousand. In cities slightly smaller (Osaka, Kobe and Yokohama) a square meter costs starting from $ 5,000-6,000. Therefore, even local residents have almost no opportunities to buy a property without a mortgage. However, low rates make this task quite feasible.
2. Switzerland
Mortgage rate: 1.42%
Just like in the case of Japan, real estate in Switzerland is also very expensive. It is important to note that a life-long mortgage is very popular in Switzerland. The loan is issued for 50 or 100 years and is inherited.
3. Finland
Mortgage rate: 1.53%
It is difficult to find a small-sized housing in Finland, so the property here is quite expensive. If we talk about the spread of prices, then the most expensive real estate is observed in major cities in Finland. The most expensive city in terms of acquiring real estate, of course, is the capital of Finland, Helsinki. A little cheaper apartments are located in the satellite cities of Turku, Espoo, Tampere or Vantaa. To date, the average cost of one square meter of an apartment in a new building in the capital will cost the customers 2300-2700 euros. The price mostly depends on the area of the city. In other cities, property prices are much lower - 1000-1500 euros per square meter. Nevertheless, the low rate on mortgages makes real estate quite affordable.
4. Sweden
Mortgage rate: 1.87%
Almost 90% of apartments and houses in Sweden are leveraged by mortgages. The main temptation for the buyer is, of course, low interest rates on the loan. Mortgage loans in Sweden are issued for 50 and 70 years, and they are inherited.
5. Slovakia
Mortgage rate: 1.92%
Slovenia, a small state in the southern part of Central Europe, joined the European Union in 2004. It was from then on that housing began to grow in price, becoming investment-attractive and promising in terms of long-term investments. Construction of modern buildings has begun here since the signing of the Slovenian Schengen Agreement, but the crisis has somewhat slowed the pace of their construction. Just like in any state, proximity to the capital determines the rise in house prices. The average cost of one square meter of residential property in the capital of Slovenia, Ljubljana, is 2000-2500 euros, depending on the stage of construction of the house.
6. Germany
Mortgage rate: 1.99%
Many foreign investors consider real estate in Germany primarily as a reasonable investment. In addition, the real estate market in Germany is one of the fastest growing and promising in Europe. The low interest rate on mortgages also makes it one of the most attractive in the world.
7. Czech Republic
Mortgage rate: 1.99%
Today, the vast majority of real estate transactions in the Czech Republic are carried out with the help of mortgages. Even those who have the necessary funds to buy an apartment or a house in Prague often find it more profitable to leave this money in other tools (including in their own business) and take advantage of the opportunity to borrow money from a local bank.
8. Lithuania
Mortgage rate: 2.03%
A distinctive feature of the mortgage in Lithuania is the availability of a mortgage loan insurance system against the risk of non-return. Credits are granted to Lithuanian citizens aged at least 21 years. The minimum loan amount on average is $ 15 thousand, the maximum - $ 60 thousand; usually banks set at a level not exceeding 70% of the cost of housing.
9. Taiwan
Mortgage rate: 2.04%
Taiwan is also among the countries with a low mortgage rate. Foreign investors are among the most active buyers in Taipei.
10. Austria
Mortgage rate: 2.10%
Austria closes the top ten countries with the lowest mortgage rates. The rate here slightly exceeds 2%. Austria, like many other European markets, is attractive for foreign investors.
Mortgage rate: 1.21%
Mortgage in Japan is the cheapest in the world. The inflation is very low here, and real estate is very expensive. Tokyo is one of the most expensive capitals in the world, the price per square meter here starts from $ 7-8 thousand. In cities slightly smaller (Osaka, Kobe and Yokohama) a square meter costs starting from $ 5,000-6,000. Therefore, even local residents have almost no opportunities to buy a property without a mortgage. However, low rates make this task quite feasible.
2. Switzerland
Mortgage rate: 1.42%
Just like in the case of Japan, real estate in Switzerland is also very expensive. It is important to note that a life-long mortgage is very popular in Switzerland. The loan is issued for 50 or 100 years and is inherited.
3. Finland
Mortgage rate: 1.53%
It is difficult to find a small-sized housing in Finland, so the property here is quite expensive. If we talk about the spread of prices, then the most expensive real estate is observed in major cities in Finland. The most expensive city in terms of acquiring real estate, of course, is the capital of Finland, Helsinki. A little cheaper apartments are located in the satellite cities of Turku, Espoo, Tampere or Vantaa. To date, the average cost of one square meter of an apartment in a new building in the capital will cost the customers 2300-2700 euros. The price mostly depends on the area of the city. In other cities, property prices are much lower - 1000-1500 euros per square meter. Nevertheless, the low rate on mortgages makes real estate quite affordable.
4. Sweden
Mortgage rate: 1.87%
Almost 90% of apartments and houses in Sweden are leveraged by mortgages. The main temptation for the buyer is, of course, low interest rates on the loan. Mortgage loans in Sweden are issued for 50 and 70 years, and they are inherited.
5. Slovakia
Mortgage rate: 1.92%
Slovenia, a small state in the southern part of Central Europe, joined the European Union in 2004. It was from then on that housing began to grow in price, becoming investment-attractive and promising in terms of long-term investments. Construction of modern buildings has begun here since the signing of the Slovenian Schengen Agreement, but the crisis has somewhat slowed the pace of their construction. Just like in any state, proximity to the capital determines the rise in house prices. The average cost of one square meter of residential property in the capital of Slovenia, Ljubljana, is 2000-2500 euros, depending on the stage of construction of the house.
6. Germany
Mortgage rate: 1.99%
Many foreign investors consider real estate in Germany primarily as a reasonable investment. In addition, the real estate market in Germany is one of the fastest growing and promising in Europe. The low interest rate on mortgages also makes it one of the most attractive in the world.
7. Czech Republic
Mortgage rate: 1.99%
Today, the vast majority of real estate transactions in the Czech Republic are carried out with the help of mortgages. Even those who have the necessary funds to buy an apartment or a house in Prague often find it more profitable to leave this money in other tools (including in their own business) and take advantage of the opportunity to borrow money from a local bank.
8. Lithuania
Mortgage rate: 2.03%
A distinctive feature of the mortgage in Lithuania is the availability of a mortgage loan insurance system against the risk of non-return. Credits are granted to Lithuanian citizens aged at least 21 years. The minimum loan amount on average is $ 15 thousand, the maximum - $ 60 thousand; usually banks set at a level not exceeding 70% of the cost of housing.
9. Taiwan
Mortgage rate: 2.04%
Taiwan is also among the countries with a low mortgage rate. Foreign investors are among the most active buyers in Taipei.
10. Austria
Mortgage rate: 2.10%
Austria closes the top ten countries with the lowest mortgage rates. The rate here slightly exceeds 2%. Austria, like many other European markets, is attractive for foreign investors.