As the British winter can be unforgiving, you would be forgiven for dreaming of warmer climates. Sandy beaches, shining sun and stunning seas sound like the perfect tonic to these grey months, don’t they? Read through our guide of the best places to buy property abroad - for investment purposes or for quality of life - and you could turn these dreams in to a reality this year.
Looking for an investment?
If you’re looking to diversify your investments and pour some of your money into another country where price growth is in the midst of a boom, then look no further than Hong Kong. In the last 12 months, property prices have increased by 15.7% in Hong Kong, meaning that if you had made a £100,000 investment, you would have made £15,700 profit in just 12 months – certainly not to be sniffed at.
Closer to home, the archipelago of Malta, in the Mediterranean between Sicily and North Africa, is reaping similar property price growth to Hong Kong. With a 12-month increase of 15.7% in property prices, investing in this small island could reap you big rewards, but move quickly as in the last six months prices have been growing at a slightly slower rate.
Looking for a holiday home?
If you’re looking for a pied-à-terre in the sun, then these are some of the most popular, and most affordable destinations for Brits buying abroad.
If you’re looking for a new life in the sun, then Spain is the go-to destination for a multitude of reasons; the warmer climate, sandy beaches and ready availability of holiday homes to name just a few. The average property search by Brits looking to buy in sunny Spain centres around the popular locations of Torreviaja, Costa del Sol and the Costa Blanca, with the average search price at £117,131.
Just across the English Channel is our nearest neighbour France, and it remains a popular choice for overseas property purchases. The so-called “l’Hexagone” (the Hexagon) due to its roughly hexagonal shape, France is an entirely different proposition to that of Spain. With rolling countryside, mountain ranges and gastronomy renowned around the world, France offers a quality of life which is difficult to rival. In 2018, the average property search price in France was £137,741; however, in many parts of the country you would need a lot less to purchase an appropriate holiday abode.
This certainly isn’t the cheapest option if you’re looking for an affordable apartment abroad, but its recent popularity means that it is worth considering. The typical property search price topped £220,000 last year, showing the ready appetite to spend in the country, but also reflecting a growing desire by Brits to take the plunge full-time and move to the country. With extremely agreeable temperatures throughout the year, a laid-back lifestyle and great tax benefits, Portugal could be the right choice for you.
If Europe is too close to home, then Florida mustn’t be ignored. With sunshine practically all-year round and the advantage of no language barrier, it remains a firm favourite amongst families, as well as those aged 60+ who are drawn to the quality of life on offer. With some of the world’s best golf courses, theme parks, shopping malls and sporting facilities, it is practically impossible to be at a loss for activities in Florida. All of these amenities come at a cost, however, with the average property price search at £385,178 and the most popular areas being Davenport and Kissimmee.