Spending power for property varies greatly around the world. In fact, it’s remarkable just how much – or how little – that 100k can get you.
All sorts of factors influence the property’s value but looking at these examples below, you can buy everything from a small one-room Manhattan studio to a 300 year old period farmhouse in Normandy – with money left over.
- Studio apartment, Washington Heights, Manhattan: £94,000
Looking for a pied-à-terre in the Big Apple? Your £100k just squeaks past the post on the cost with this (admittedly rather dated) one-room studio below Washington Heights.
With its prime location and high ceilings, there is a catch: this unit is only available to those making a first-time purchase, with income restrictions, and is a cash-only sale. Part of a measure to provide affordable housing in the city, you may be sure that the price of studio apartments on the open market will be far higher.
- Village House and Holiday Home, Beira Baxa, eastern Portugal: £56,000
For a slice of rural, village life in Portugal, you could do worse than this rather delightful village house with one bedroom and a garden.
It needs no renovation and is ready to move in to, or set up as a holiday home rental. It comes complete with 200 sq. m. of walled garden, with olive trees, fruit trees and vines.
There’s an annex available too which allows for an extension and an extra bedroom, if desired.
- Four bedroom country retreat, Abruzzo, Italy: £56,000
Italy is full of inexpensive, country properties, allowing you to live your own Italian dream on an attractive budget.
The downside is that most of these require significant renovation, leaving you with the task of managing workmen and builders and Italian bureaucracy. Many of the less expensive properties are in very isolated locations as well – which is why they sell for a such a low price.
However, this property needs almost no work at all: maybe a new kitchen and some paintwork. With a garden, outdoor space and four bedrooms, this house would be a splendid nest in beautiful Abruzzo.
- Black and white timber country house (to improve), Normandy – France: £58,000
How about this 300 year old colombage building with distinctive timberwork and a hectare of land to go with it in Normandy?
Situated within reach of the town of Camembert, this beautiful property needs some restoration but already has services connected, and a solid structure. You’d have to design the layout of rooms but this is minor work.
There’s the potential for four bedrooms here and could be used for a campsite business or a separate gite for rental within the premises.
In any case, the balance of the £100k is sure to pay for the upgrading works and could leave you sitting nicely on a business opportunity for retirement.
- One bedroom buy-to-let apartment, Walsall, West Midlands: £99,500
If Europe doesn’t fancy, and you’d prefer to invest on more solid and predictable ground, there’s always the range of investment properties in the UK available through APW.
Here’s Tameway Plaza, with one-bedroom properties which can be let furnished or unfurnished, in a central location of Walsall, north of Birmingham.
Buying in the UK means you have a range of legal and regulatory safeguards, and a relatively secure investment stream with strong rental yields.