Portugal best country to buy second home
A new study from Compare The Market Australia has revealed Portugal is the BEST country to purchase a second home.
To identify the best locations for a second home, the study has analysed 34 OECD countries on key factors such as cost of living, increase in property value, the number of restaurants, beer prices and the cost of a taxi.
Known for its beautiful coastal towns, friendly locals, and relaxed pace of living, Portugal takes first place with a second home score of 7.27/10. Portugal scores particularly highly for its proportion of restaurants, with 349 per 100,000 and also scores low for its average cost of living too, coming in at around €553.37 per month.
Hungary & Turkey share second place, scoring 7.06/10. House prices in Hungary have risen dramatically more than doubling over the last ten years, taking second place for the factor. In contrast, Turkey had the lowest average cost of living expenses at €358.76 and can’t be beaten when it comes to both property resale and rent price increases, with a 175% increase in resale profits and a 95% increase in rent profits.
The Czech Republic is up next, with an overall score of 6.97/10. The country is renowned for its breweries with Pilsner Urquell and Staropramen exported all over the world. So it’s no surprise that it’s the most affordable for beer, costing just €1.77 for a pint on average.