What overseas property does £250,000 buy?

  • 12 years ago
  • Uncategorized

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

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.”

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