Could You Afford a Vacation Home Abroad? Check Out the Prices in 5 Major Cities
Are you dreaming of owning a vacation home? You might find better real estate prices abroad. You don’t have to sacrifice vibrant city nightlife or beautiful beaches, when you consider one of these top cities outside the U.S. to own a vacation rental.
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Algarve, Portugal
Portugal is rated one of the best countries in Europe to own a vacation home, according to TravelandLeisure.com. You can choose a house in the Algarve Region to take advantage of outdoor activities, local wine and tasty cuisine. TravelandLeisure.com called it the “California of Europe,” with 300 days of sunshine, gorgeous beaches, and beautiful architecture in the city.
Plus, the region boasts a low cost of living, which translates to affordable activities and fine dining for less for vacationers in the region. How much can you expect to spend on a vacation home? According to GlobalPropertyGuide.com, residential real estate in the region runs for about $2,289 per square meter.
Paris, France
House prices in many regions of France began to fall last year, according to LongTermRentalsInFrance.com. That makes now a good time to buy a vacation home in the capital city. Although you’ll pay more for a home in Paris than other cities, you can also command higher rents for the property. Prices vary dramatically based on the neighborhood, but you can expect to pay as much as 15,000 euros, or more than $16,000 USD per square meter in the pricier parts of Paris, according to Statista.com.
Don’t let this deter you, as you’ll be able to enjoy all the luxury the city has to offer, from fine dining to world-renowned museums.
Crete, Greece
Experts note that real estate prices in Greece remain lower than in many other parts of Europe. Escape city life on the island of Crete, renowned for luxury resorts, beautiful beaches, world-famous cuisine and friendly residents.
Lodgify.com lists the average home price in Crete at 128,000 euros, or roughly $139,534 U.S. dollars.
Tamarindo, Costa Rica
Whether you’re looking to escape to a tropical paradise or buy a vacation home as a rental property, Costa Rica has you covered. Over the past few years, 50% of property buyers in Costa Rica were looking for a vacation property rather than a primary home, according to DubaiHousing-ae.com.
To attract adventurous vacationers seeking sun, sand, and surfing, consider a property on the beachfront city of Tamarindo, just 90 minutes from a major airport and home to more than 100 restaurants.
You can find starter homes from $350,000 to $500,000, or pay up to $2 million for a luxury, oceanfront oasis, according to TravelandLeisure.com.
Brisbane, Australia
While the median home price in the capital city of Sydney exceeds $1.4 million, according to data from CoreLogic, you can find properties under the seven-figure mark in Brisbane. It’s still a pricey city, with a median home cost of $888,825 according to Domain.com.au, but you won’t regret your choice to vacation here, on the shore of the Brisbane River.
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