Real estate news: The FairFX Property Abroad Index has compared the average price of a property with the cost of essential outgoings.
The company has done this to help buyers who are looking to purchase property to know which country provides the best value for money. And which country has the best value?
The data was taken from the average cost of a two-bed apartment, as well as a collection of everyday costs.
FairFX ranks Bulgaria and Turkey as the most affordable countries to buy a second home in with a combined cost of £105,625 and £120,782 respectively.
This is great real estate news for tourists looking to buy abroad and for investors looking to stretch their wings in other European countries.
Bulgaria is full of beautiful scenery – full of pristine beaches and incredible mountains – and is now growing to be a big holiday opportunity for tourists.
Turkey remains a famous holiday destination for tourists, despite the recent political turmoil problems.
Greece ranks third in the list -£134,891 – and then Ireland fourth £145,480,
They worked out the average prices of two-bedroom apartments, a car, monthly bills, petrol, broadband and the cost of a mobile phone.
Buying a second property abroad is hot real estate news. It means that tourists and investors can broaden their horizons – either for monetary value or purely for pleasure.
The cost of having a second home is just one small part of the thought process when buying a house. It isn’t all as great and calming as people think, there are many responsibilities. All influencing contributors have to be taken into consideration – this includes political, cultural and economic factors.
Therefore, what FairFX has done is extremely useful. This hot property news has come in handy and will probably be used wide and far among holiday-buyers and by investors too.
Written by Gemma Smith