Bulgaria amongst the best-value countries to buy property abroad
Buying a holiday home? Find out which countries are the cheapest - and priciest
Dreaming of a retirement in the sun or a second home in paradise? New research has revealed the most affordable locations to buy a home overseas, as well as the property markets experiencing the strongest growth.
Bulgaria has emerged as one of the best-value locations to buy property abroad, analysis from FairFX has revealed. The currency exchange firm has named Monaco, meanwhile, as providing the least value for money. But is it safe to invest in overseas property? Which? dives into the data and explores your options for buying a property in another country.
When working out the cost of buying a home overseas, you need to consider local living expenses as well as the price of property. Research by FairFX has ranked countries worldwide based on the average cost of a two-bedroom apartment as well utilities, broadband, mobile phone contracts and buying and running a VW car.
Based on this index, Bulgaria has emerged as the most budget-friendly option. Its average two-bed apartment price of £92,093 is relatively affordable, while living expenses come to just over £18,000 a year. Situated only three hours from London, and boasting stunning coastline, it’s also a practical choice for a holiday home.
Other affordable European options identified by FairFX include Ireland, Poland and Croatia. Brazil was ranked as the second-cheapest location, with two-bedroom apartments costing £96,571 on average and living expenses at just over £16,000 per year – but the 11-hour flight will deter many Brits from this option. Monaco was found to be the most expensive location for people buying overseas property, with the average two-bed apartment there costing a whopping £7.365m.
Many other popular European countries also proved pricey, with Switzerland, Germany, France, Spain and Portugal all ranking among the locations providing the least value for money.
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