What if Money was no Object when Buying Property Abroad?
Posted by Rewan Tremethick on December 22nd, 2015.
A small apartment in a sun-soaked part of the world is enough of a luxury for some. Finding a perfect place to retreat to after a hard working life, or to pursue a new lifestyle while surrounded by different people, terrain and culture doesn’t have to cost the earth and is a dream many can aspire to.
Of course, the level of luxury you’re able to afford will be defined by your budget. While £135,000 could get you a 4-bed apartment with a pool in La Redorte, France, what do you do when you have a few more zeros on the end of your bank balance and a desire to buy property overseas?
For some lucky people, this is a reality. For the rest of us, let’s have a wistful look at what we could do with such mountainous sums of cash.
Purchase an Entire Italian Village
If buying a single property in Italy (say a three-bed, two-bathroom house with swimming pool, terrace and 40,000 square feet of land in Tuscany for £143,034) isn’t enough of an investment, how about purchasing an entire village? The estate, located next to Lake Trasimeno, Umbria, includes a 14th century, ten bedroom castle, a church, a bell tower, several houses and an old mill. You also get four and a half hectares and two private harbours.
What could be better when relocating overseas than bringing your entire family with you? There’s more than enough space here for everyone. When it went on the market in March, the estate came with a price tag of £2,911,200.
Buy a French Castle
There are so many good reasons to buy a castle. For starters, you’ll own a castle. Imagine being able to say to people, ‘Would you like to come over to my castle sometime?’ Secondly, once you’ve bought a home overseas, you might find that your family suddenly wants to come and see you more. A free place to stay is always welcome, so you might as well accept the fact you’ll be entertaining a lot and get somewhere that has ample rooms to accommodate guests. Your average castle also comes with plenty of land, so you’ll be able to walk the dog, do a bit of gardening, build your own tennis court or just stroll around the estate.
Castle prices vary enormously depending upon age, region, size and associated business interests, but a decent-sized fortress in France could be yours for as little as £4,500,000 – less than the current price of a set of four studio flats for sale in Chesham Place, London.
Splash Out on a Californian Alpine Resort
You’ll certainly have room for all your bits and bobs if you buy the Double Eagle Resort, a 70,000 square foot retreat surrounded by 55 acres of alpine forest. The complex combines a bed and breakfast, cottages and a spa, complete with pool, next to ski resort (not included in the lot) and there’s the potential to more than triple the number of available rooms to 150. The resort is located in a beautiful setting, complete with mountains, forests, rivers and lakes.
Admittedly for the asking price of £15,000,000, you could buy around 100 three-bedroom properties in Malta (circa £150,000 each at current market levels). But if you do happen to have that kind of money lying around, it could be a good investment.
Get a Private Island
Private islands are probably one of the things which spring to mind when you think of the exorbitantly wealthy. They are actually surprisingly affordable – you can get yourself an eight-acre retreat in the middle of one of British Columbia’s largest lakes, perfectly located for boating, swimming and fishing, for the equivalent of studio flat in Manchester (£110,000) – although there are some opportunities to really splash out. Covered in white, sandy beaches and tropical forests, complete with electric generator, fresh water and mobile reception, Rangyai Island in Thailand is a complete steal at £103,500,000.
You’ll probably need a boat or a helicopter if you ever want to get off the island to see friends, explore the area, or nip to the shops – but if you’re splashing over £100 million on a piece of land, popping a chopper on your credit card isn’t going to be much of a problem.
Realise the Dream Without Breaking the Bank
Most people would need a credit score of about a billion to be able to finance one of these purchases. Luckily not all property is so expensive. You may never be able to buy an entire settlement, or live somewhere that can be easily defended from marauders, but things like a sunshine soaked terrace, a swimming pool or a great view are easy to find when you are looking to move abroad. If you are clever with your money and take measures like using a currency broker to secure a more competitive exchange rate, your dreams of buying property overseas can still be a reality.
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