Online estate agency Tepilo looks at how far £200,000 goes in the UK and around the rest of the world when it comes to property.
How far can your money go?
We are, as a nation, a bit obsessed by property – and, more to the point, property prices. It’s a popular dinner-party conversation and something that regularly pops up on the news agenda.
People want to know how far their money will travel, what sort of home they can afford and where they can find the best bargains.
People also want to know how much bang they can get for their buck, either in this country or elsewhere. While £200,000 might not get you very far at all in London or the South East these days, it is likely to stretch much further in other parts of the UK and further afield.
Fortunately for us, bridging loan specialists West One have come up with a handy infographic to showcase the types of properties £200,000 could secure you around the world, from Koh Samui to Barcelona.
Looking first at the UK, the properties that you could bag for £200,000 range from a one-bedroom apartment in Bath and a one-bedroom flat in Swiss Cottage, North West London, to a four-bedroom detached home in Swansea or Glasgow and a four-bedroom terraced property in Liverpool.
The best value for money properties can be found in Mulga, Turkey, where £200,000 could nab you a seven-bedroom detached house by the coast. Equally, a seven-bedroom detached property in backpacker favourite Koh Samui, Thailand’s second biggest island, would be on the market for the same figure.
Meanwhile, if you wanted to head to the Pays de la Loire region in western France, £200,000 will go a long way, securing you a five-bedroom detached home in a part of the world dominated by vineyards and luxury châteaux.
Ireland, too, offers excellent value for money, with the iconic university city of Cork providing detached four-bed properties for the same price as a week’s worth of Wayne Rooney’s wages. It’s the same story in the coastal town of Cascais, not far from Lisbon, where a four-bedroom home will set you back the same amount.
In the Polish capital of Warsaw, the Latvian capital of Riga and the Mexican resort town of Puerto Vallarta, £200,000 would get you a decent-sized three-bed apartment, while in Twizel, New Zealand and Knoxville, USA you could comfortably afford a three-bed detached home.
In Goa, India, the money would enable you to buy a sizeable three-bed villa, but in Croatian city Split, Italian region Lazio and iconic Spanish city Barcelona you would have to settle for a two-bed apartment.
£200,000 goes less far in Rockland County, New York, French capital Paris, Portugal’s capital city Lisbon and hipster favourite Berlin, where £200,000 would bag you a one-bed apartment.
So, if you’re looking for lots and lots of space to entertain, Mulga and Koh Samui are comfortable winners, but if you are looking to set up home in a major European city – Berlin, Paris, London, Lisbon, etc. – £200,000 is only likely to get you a one-bed property. On the other hand, this is offset by the cultural, culinary, educational and leisure activities these great cities offer, as well as thousands of years of history, beautiful architecture and buzzing nightlife to explore.
It’s always interesting – if unsurprising – to note the stark differences between the north and south of the UK when it comes to house prices. When looking for a home, though, there is still value for money to be found in all parts of the country. If you do your research thoroughly and pick out the right locations, you’ll be well placed to find a home within your budget.