Luxury homes in Disney at unbeatable prices
Sunday 23 September 2012
Forget the newly-reduced Greek villa, the best value for money when it comes to overseas property is the land of Mickey Mouse, according to the latest HSBC survey.
Right now, UK overseas property buyers' money goes furthest in Orlando, USA, where a £125,000 budget can purchase a four-bedroom home with a large garden and a private pool, compared with just a studio apartment in the Swiss Alps at the other end of the scale.
However, with the pound-to- euro exchange rate increasing as the eurozone crisis rumbles on, British buyers with a £125,000 budget have found their sterling now gives them an extra €8,563 in spending power.
Alicante and Malaga in Spain, Bodrum in Turkey, and Faro in the Algarve also represent compelling bargains in the current climate, the global bank suggests, with a five-bed home in Alicante coming in at around £400,000.
"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," James Yerkess, HSBC Head of FX, said. "This is a combined result of foreign exchange rates, tax levels and the strength of the property market."
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