Buying a holiday home in the midst of economic trouble at home may seem like a luxury. However there are many tourist destinations which have relatively low-cost property right now, and it’s just a case of knowing where the best places are to look, and how to bargain.
A Rightmove report recently revealed that 51% of those planning to buy a holiday home will continue to be residents in Britain, with just over a third planning to emigrate for good, ad 13% buying it as an investment.
In 2013 there were 84.7 million international tourist arrivals to France, 60.7 million to Spain, and 47.7 million to Italy.
Xian, China remains the cheapest place to buy a 2 bedroom home in a good location at £51,597, while Manhattan in New York, US, is the most expensive at £1,900.000.
But it’s when we look at average rental prices that things get interesting.
In Paris you can expect to receive £1,420 per week, while that expensive house in Manhattan will only be receiving £1,053 per week. And that cheap house in Xian, China? Just £78 per week.
Spain still has the best return on investment, with Catolonia offering 18.59%, The Balearic Islands offering 10.22%, and Andalucia 7.82%. For more information, refer to the below infographic by Schofields.