Overseas property: how much home could you buy?

The average British property now costs an astonishing £272,000, up 11.7% over the year, according to the latest figures from the Office for National Statistics.

And you don't get much for your money: British households have an average space of just 66 square metres, says the Institute of Economic Affairs, giving us the smallest homes in Europe.

Surely, British property is overpriced. The OECD thinks so, saying that price-to-earnings and price-to-rent ratios indicate they are 30% higher than they should be. And, indeed, it looks as if the UK housing market may have peaked, with the Centre for Economics and Business Research predicting that prices could dip by 0.8% next year.

In other words, it could be a good time to cash in your investment, and buy somewhere where you can get a bit more for your money. We look at ten properties around the world that cost around £272,000 - the same as the average British home.

Greece: £274,477

With six bedrooms and four bathrooms, suggest agents Savills, this property on the Ionian island of Zante would make a perfect boutique hotel, and so represents a business opportunity as well as a home. Just 250 metres from the sea, it's divided into a villa, studio and two apartments.

They sit in large grounds with a barbecue area and splash pool, as well as stabling, a paddock and an olive grove that's eligible for EU subsidy. The property's sited on a hill, with lovely views of the mountains and sea.

Spain: £271,757

This idyllic seventeenth-century water mill is located in Aragon, around an hour from the coast. Fully renovated, it's surrounded by gardens and terraces leading down to a small trout river with two waterfalls and a millpond.

There are three large en-suite bedrooms, all with solid French oak floors and beamed ceilings, as well as a large kitchen and living room, complete with original mill machinery. With a large organic vegetable garden and solar power system, it's a place to live the good life, and has previously been run as a walking centre. It's available through Finca Casa Aragin.

Venice, Italy: £270,556

A little smaller, to say the least, this property - but then it is in Venice and comes in a couple of thousand pounds under budget. This apartment is on the first floor of a lovely, renovated building in Guidecca.

It has an open-plan living room and kitchen, along with two bedrooms and two bathrooms, and shares a large garden. It's on sale through Wire Consulting.

Florida, USA: £270,246

Near Kissimmee, on the south side of Lake Tohopekaliga, this five-bedroom house sits on a one-acre plot with ancient oaks and a solar-heated salt water swimming pool.

The kitchen is a particular feature, with state of the art appliances, granite worktops and a hammered copper sink - and there's even a "mother in law suite". Shared amenities include lighted tennis courts and a 10 acre pond with fountain and fishing dock. It's available through Infinito Real.

South Africa: £280,000

Bang in the middle of the Garden Route, this house sits in the town of George between the foothills of the Outeniqua Mountains and the Indian Ocean in an area of great natural beauty.

It has three bedrooms - including a teen pad - and a pretty garden with pool and pond. Ideal for lovers of the great outdoors, is's for sale through Rawson Properties.

France: £270,556

This nineteenth-century manor house is in the town of Sable, in the Pays de la Loire, just an hour from Paris by TGV. It sits on a large and stunning garden, bordering the river Sarthe and with views over the town.

It has a huge 75 square metres of living space, a kitchen, five bedrooms and three bathrooms and is being marketed by French Coast and Valleys.

Thailand: £264,500

This four-bedroom, three-bathroom villa is in popular Hua Hin, minutes away from beaches and golf.

Built just six years ago, it has two sitting rooms and a dining area, plus a large tropical garden, a pool and jacuzzi. It comes fully furnished through agents Hot Property Hua Hin.

Morocco: £275,000

This beautiful four-bedroom house is in the heart of old Tangiers, and was completely renovated in 2008. It has two reception rooms with fireplaces and a dining room with an open kitchen, looking out onto a partly covered terrace.

Another terrace boasts views of the sea and town. There's charm throughout, with arched doors, pillars and a stone staircase. It's on with agents Emile Garcin Tangier.


Caribbean: £273,839

This sort of money doesn't usually get you much in the Caribbean, but this townhouse in Christchurch, Barbados, has a lot of appeal. Near Miami Beach and the airport, it has three bedrooms, with the master suite adjoining a large patio and plunge pool.

All the bedrooms are en-suite and come with air conditioning units, wiring for satellite or cable TV and digital phone service. It's being sold fully-furnished through agent Massey Realty.

Bali: £277,000

Twenty minutes from the airport and close to several white sand beaches, this villa was completed in 2011. There are four bedrooms, two bathrooms and a large open living area, along with kitchen and staff quarters. Outside is a good-sized pool, and there's a roof-top terrace too. It's for sale through Bali Cool Property.

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