Americans Who Can’t Afford Homes Are Moving to Europe Instead

More Americans are relocating to Europe, driven across the Atlantic by the rising cost of living, inflated house prices, a surging dollar and political rancor at home.

Italy, Portugal, Spain, Greece and France are among the most popular destinations. Sotheby’s International Realty said requests from Americans looking to move to Greece rose 40% in the April-to-June period compared to a year earlier. In France and Italy, US demand is the highest it’s been in at least three years, according to Knight Frank real estate specialist Jack Harris. And Americans made up 12% of Sotheby’s Italian revenue in the first quarter, compared to just 5% in the same period a year ago. 

‘Bella Vita’

For Atlanta-based Stephanie Synclair, 40, buying a home in Italy was a long-time dream that came true this April.

Paying $3,000 a month to rent a four-bedroom house for herself and her son in Atlanta, she found it impossible to scale up and become a homeowner as prices skyrocketed, even though she had $300,000 of cash on hand.

She turned to Italy, a country she always loved, and was able to buy a 3,100-square-foot house in Mussomeli, Sicily, as well as a smaller home next door and an 800-square-foot storefront — all for 60,000 euros. 

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