These Are the Most Affordable Countries to Buy a Vacation Home
If you’re looking for a place to get away without the hassle of a hotel booking, purchasing a second home may be a great option.
That is, of course, if you have the money. Purchasing a second home is a big decision, so it’s important to consider the price as well as the location of your new place, especially if it’s in an international locale.
Homes.com, luckily, has analyzed real estate data from 36 developed countries in order to rank the least expensive places for travelers who want to own a second home outside their home country, USA Today reported. All rankings are based on the price of the homes per square foot.
If you are in the market for a second home in a new country, Homes.com found that Turkey is the most affordable place to shop, with an average of $69 per square foot when it comes to available homes.
In addition, Homes.com analyzed local real estate markets to calculate how much homeowners must make for an affordable home. In Turkey, home owners must make a salary of just over $17,000 per year in order to afford a 742-square-foot home, according to USA Today.
Technically, the United States ranked number 2 overall (and 10th in terms of price per square foot), at $197 per square foot and a salary of just over $44,000 for a 649 square-foot-home.
In third place overall (but second place in terms of price per foot), shoppers in Mexico will be happy to know that their second homes cost, on average, about $90 per square foot, but also requires a salary of just under $14,000 for a 462-square-foot home.
Also among the rankings are Russia, at $120 per square foot (and a salary of just under $17,000 for a 415-square-foot home), Greece, at $149 per square foot (and a salary of just over $17,000 for a 342-square-foot home), and Italy, at $311-per square-foot (and a salary of just over $26,000 for a 251-square-foot home).
For the full list of rankings, see the data on Homes.com.