Estonia - The Best Place to Buy a Property Abroad
Estonia comes out on top as the best place to purchase a second home based on price factors as well as the quality of life in the Northern European country. The country is incredibly beautiful with plenty of natural wonders to marvel at as well as a modern and efficient way of life that embraces the latest technology, yet doesn’t take itself too seriously. With low housing costs, high earning potential and excellent quality of life and safety scores, it’s no wonder that Estonia is the best place to invest.
With Finland following close behind in second place, it’s clear that this part of the world is one of the best places to buy your second home abroad. Like Estonia, Finland is filled with natural beauty and inspires a certain way of life that results in a high quality of life score.
The Best Countries in the World to Own a Second Home - Ranked
We looked at the expenses associated with keeping a property in another country and compared this with the money that can be made by letting out the house while it is not occupied by the owner. We assumed that the owner would live in the property for half of the year and let it out for the other half of the year, adjusting expenses accordingly.
We chose to look at the 36 OECD countries.
An average of the cost to buy property in and outside of the city centre. These refer to the cost per square metre. All prices originally taken in EUR and converted into GBP and USD. Exchange rates accurate at time of research.
Utility bills costs were taken as monthly costs and multiplied by twelve to give an annual figure.
Broadband costs were taken as monthly costs and multiplied by twelve to give an annual figure.
Food costs were taken as monthly costs and multiplied by six to give a figure for people living in their second home for half of the year.
Public Transport Cost
Public transport costs were taken as monthly costs and multiplied by six to give a figure for people living in their second home for half of the year.
The earnings are based on renting out the entire property to four guests for six months of the year. This earnings estimate assumes 15 nights booked per month at forecasted daily prices. The forecasted daily prices are based on average prices for listings with a similar location, listing type, and guest capacity. How much you actually make may vary with your pricing, type and location of your listing, actual occupancy rate, season, demand, local laws, and other factors.
Quality of Life Index
The quality of life score was taken to help rank the suitability of the country as a location for a second home. In this case, a higher score indicates a higher quality of life.
The safety index score was taken to help rank the suitability of the country as a location for a second home. In this case, a higher score indicates a safer country.