France Property News

What overseas property does £250,000 buy?

What overseas property does £250,000 buy?
With a budget of £250,000 for your overseas home, what do you think you could buy? Well, a new survey from a leading bank has answered that very question.

Research from HSBC has discovered the sort of overseas property that a budget of £250,000 can buy. Taking into account property prices, foreign exchange rates and local taxes, the USA may currently offer the best value for money. Keep reading to learn more.

Orlando offers excellent value for money in 2012
The first HSBC Overseas Property Report has found that for a budget of £250,000, you could buy a six bedroom house in Orlando, a four bedroom house in Alicante in Spain, a four bed house in Bodrum, Turkey, a three bedroom home in Malaga on Spain’s Costa del Sol, or a three bedroom house in Paphos, Cyprus.

James Yerkess, HSBC head of FX, said: “There is a huge discrepancy in the size of property that UK buyers can purchase on the same budget in some of the most popular overseas locations for second homes. This is a combined result of foreign exchange rates, tax levels and the strength of the property market.”

For the same £250,000 budget you can pick up a two bedroom apartment in Faro on the Algarve in Portugal, a two bedroom apartment in Pisa, in the popular Tuscany area of Italy, a two bedroom apartment in Palma de Mallorca, a one bedroom apartment in Nice on the Cote d’Azur in the south of France or a one bedroom apartment in Gryon in the Swiss Alps.
Mr Yerkess added: “Orlando, for example, offers excellent purchase power right now, but European destinations vary and aspiring buyers who are more flexible on location should weigh up their options to secure the most space and best facilities for their money.”