Investing abroad 'could see money go further in the property market'

Entrepreneurs looking to invest in property may be inclined to make a money transfer overseas and purchase a home abroad after hearing how the pound can go further outside the UK.

New research conducted by Property Frontiers revealed buying an abode overseas could see individuals get more for their money.

Referring to a study by Rightmove, it was suggested the average price of property in England and Wales is £233,139.

As a result, Property Frontiers looked at what investors would be able to get for less than this in Europe and the wider-world.

In Spain, homes in the Porto Cristo fishing village on the Balearic Island of Mallorca can offer people access to the sea, local golf courses and a nearby marina starting at £192,500 for a two-bedroom brand-new apartment.

Meanwhile, a ski chalet in the French Alps resort of Le Centaure would set a property mogul back £167,000 for a three-bedroom abode that would be easy to rent out.

Further afield, Brazil was noted as an up-and-coming investment area, with individuals able to snap up a luxury two-bedroom apartment from £59,200.

Located in Natal, the properties were described as ideal buy-to-let opportunities as the city has been selected as the host hub of the 2014 Fifa World Cup.

However for the cheapest option, investors may want to head to Turkey, where as little as £57,750 can snap up a one or two-bedroom apartment in Istanbul, where there is said to be a shortage of rental property.

The flats are located in the western suburb of Beylikduzu and noted as a good investment opportunity as the nation is not yet a member of the eurozone.

Freelance property journalist and founder of PropertyJournalist.com Marc Da-Silva recently recommended Valencia in Spain as a good place to take advantage of a bargain home.

Posted by Sarah Pitton

Click here to make an International Money Transfer to Spain.