Where is the Cheapest Place to Buy a Holiday Home?

Whether you want to find sunshine in the winter or a home away from home for your summer holidays, a second home abroad can be the perfect solution. But with the rising cost of living, we’re all looking to save the pennies where we can. That doesn’t mean that you can’t make your dream a reality. Using recent research, we look into the cheapest places to buy a holiday home abroad, and why they might be perfect for your second home.

Turkey is the cheapest place to buy a holiday home, with an average property price of just $736.12 per m2. The most popular places to buy property in Turkey are along the Aegean/Mediterranean coast, providing gorgeous sea views and close proximity to amenities and tourist hotspots. These areas will also have more English speakers, but if you want to avoid the tourists, you can instead choose property on the Black Sea coast. Here, there is more rainfall, but you could find even more space at a cheaper rate, plus you’ll enjoy beautiful mountain vistas.

South Africa is the second cheapest place to buy property, costing around $866.27 per m2. It might not be your first thought when thinking of a holiday home, but with an average of 8 hours of sunshine per day, it can be the perfect destination to escape the dark and dreary winters of the UK. South Africa offers plenty of opportunities to get outside and enjoy the weather, with outdoor sports, hiking, and al fresco dining. Cape Town is a popular location for tourists, especially thanks to its European-style lifestyle and affordable cost of living.

Mexico is the third cheapest place to buy a holiday home, with property costing around $984.63 per m2. Mexico has a lot to offer property-wise, from beach-front villas to city apartments, to private gated communities. Mexico promises warm, sunny weather in the dry season between November to March, so can be perfect for a winter holiday home. Plus, with delicious food, a rich culture and welcoming locals, it can make for the ideal home away from home.

Property in Brazil costs, on average, $1,151.71 per m2, making it the fourth cheapest place to buy a holiday home. There are a huge number of stunning beachfront properties in Brazil and homes in the more urban areas of São Paulo, Rio de Janeiro, Salvador and Florianopolis have proved popular with tourists and expats alike. Brazil is affordable with plenty to see and do, whether you’re looking for an energetic holiday or something more relaxing and peaceful.

The average price for property in Greece is $1,713.34 per m2 and being just a few hours flight away from the UK, it can be perfect for buying a holiday home. Greece is renowned for its beautiful scenery, Mediterranean coastline, and warm weather. When looking for property think about what you want to do on your holiday. Do you need a more relaxing beachfront property in a quiet location, or would you prefer a second home in a bustling, vibrant city or tourist area? Thankfully, there’s a lot of choice and variety in Greece for your second home.  

Property costs, on average, $2,418.50 per m2 in Portugal. Most people who buy their holiday home in Portugal stick to the southern area, the Algarve, thanks to its gorgeous coastline, sunny weather, and welcoming atmosphere. Heading inland and north will offer cheaper property and there will still be lots to see and do when you’re on your holiday, with mountain ranges and beautiful forests. Wherever you go, Portugal offers a laidback, relaxed lifestyle that’s authentic to the Portuguese way of life.

Despite being one of the most popular tourist destinations in Europe, property prices in Spain are still relatively cheap, at around $2,841.22 per m2. There’s a variety of property on offer in Spain, from modern apartments to seafront villas and country homes. Despite its popularity, there are still areas where you can find peaceful, rural holiday homes. Or go for one of the vibrant cities if that’s more your thing – Barcelona combines an urban lifestyle with beachfront living. There are also lots of islands all with their own unique charm, including the Balearics and the Canary Islands.

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