In most parts of the world, property prices continue to rise, which has become a cause for concern for many, especially first time buyers looking to get onto the property ladder. Things have changed drastically since our parents’ time, and not only do first time buyers need to save a larger deposit than ever before, but house prices are now more expensive than ever. Add to this that it’s also likely you’ll get less for your money than ever before, then it’s no wonder property prices cause people so much stress.
As shown in the new infographic from West One, the type and size of property you can get for your money can differ greatly depending on the location. The people at West One have taken a look at the varying sizes of properties that could be purchased for £200,000, ranging from sprawling 7-bedroom houses, to 1-bedroom city apartments.
The piece looks at property prices across the globe, and highlights how vastly different property prices are even within the same country. For example, in the UK, for £200,000 it’s possible to buy a 1-bedroom apartment in Bath, or a 4-bedroom detached house in Swansea. We can also see that the closer you are to some of the world’s biggest capital cities, the less you’re likely to get for your money. In Berlin, Paris, Lisbon and London, your price range will only afford you a single-bedroom; while in Warsaw and Riga you could stretch to 3-bedroom apartment.
However, it’s not all doom and gloom, and for £200,000 it is possible to get your hands on a 5-bedroom property in rural France, or even a 7-bedroom detached house in Turkey. Ultimately, it seems that outside of capital cities it can be possible to get more for your money.
The vastly differing types and sizes of properties you could buy with £200,000 suggests that for some, heading out of the big cities and into smaller towns or cities is the way forward, and potentially the only way to get onto the property ladder.