Tag Archives: House Price Index

The cheapest cities to buy property for downshifters

Time for a vacation property or downshifting home? The cheapest cities to buy property that are affordable to live in too. Antalya, Jo’burg, Phuket & more.

cheapest-cities-to-buy-property-johannesburg-golf-estate-www-steeple-co-za
Your view for $60,000, Jackal Creek Golf Estate Johannesburg, Photo www.steeple.co.za

I must confess, I’m obsessed with watching House Hunters International and surfing property websites. Maybe I played Monopoly too much as a child. And, having Cape Town and Johannesburg properties that have been successful investments, probably fuels my obsession further.

In Cape Town I have vacation properties that I rent out to corporates and holiday visitors. I’ve been lucky to collaborate with a lady who runs a cleaning service and who does meet and greats for my holiday visitors too. Don’t be afraid to jump into the vacation property market! If I didn’t buy when I did, I would be paying around 50% more for the same apartments.

Should I rent or buy my downshifting property?

In yesterday’s post, we saw that India is very cheap to rent in. Strangely, property there isn’t cheap to buy. South Africa is the opposite though. With bank lending rates being quite high in SA, property prices are suppressed. Rentals in Cape Town and Jo’burg are not cheap though.

Hours of watching House Hunters has taught me one thing for sure: buying property in South Africa is a steal. For $60,000 you could be the lucky owner of a 2-bedroom apartment in Jackal Creek golf estate in Jo’burg or an apartment close to the winelands in Somerset West, Cape Town.

25 best cities for buying property

Turkey tops the list with the most affordable coastal property. A property outside the city center in Antalya will only set you back around $412.29. Bali also makes the top 10. But, property ownership there is a bit murky; expats who reside (legally) in Indonesia can only own landed houses in the country for a period up to 80 years. No doubt marrying a Thai, makes ownership there much easier!

Besides, property websites my other website obsession is www.numbeo.com Until they develop a house price index, try this list of the cheapest cities to buy property based on Numbeo stats;

City Rank Price per sqr mtr City Center Price per sq mtr Outside Center
1 Antalya $811.38 $412.29
2 PlayaDelCarmen $888.39 $697.73
3 Johannesburg $933.65 $661.34
4 Colombo $1 361.06 $822.24
5 Bangalore $1 569.04 $709.86
6 Mexico City $1 473.91 $856.22
7 Phuket $1 518.03 $952.86
8 Chiang Mai $1 558.90 $945.85
9 Bali $1 400.78 $1 237.03
10 Cape Town $1 821.70 $926.68
11 Budapest $1 712.88 $1 050.90
12 Athens $1 434.19 $1 609.92
13 Johor Baru $2 168.90 $923.79
14 Bogota $1 695.79 $1 401.16
15 Istanbul $2 208.51 $975.57
16 SaintPetersburg $2 117.09 $1 233.81
17 Lima $2 119.78 $1 246.75
18 Santiago $1 925.79 $1 555.78
19 Delhi $2 599.63 $1 119.77
20 Hanoi $2 816.32 $976.33
21 Warsaw $2 525.17 $1 658.39
22 Buenos Aires $2 762.36 $1 956.35
23 Lisbon $3 347.24 $1 801.57
24 Prague $3 446.41 $2 031.44
25 Bangkok $3 944.54 $1 818.69

@NomadicYou #Turkey, #SouthAfrica and #Mexico all have cheap #property. Which would you choose?