Where Can You Find Affordable Retirement Real Estate Around the World? Part Three
Explore Africa and Asia as your retirement destination!
Africa and Asia
The New York Times recently published a special report that looked specifically at the growing trend of pre-retirees in America who are considering a retirement abroad in order to escape the uncertainty of the current economic landscape in the US. A similar trend certainly exists in the UK and across Europe as well – and an insecure financial future is clearly reason enough for any one of us to contemplate an escape overseas when we retire.
Many of us face retirement on a fixed income after all, and if inflation and austerity measures mean our pension income will be worth less each year, there are very pressing reasons to consider expatriation to a nation where the cost of living is more affordable.
Your reasons for considering a move overseas in retirement may be linked directly to these common concerns, alternatively you may be seeking a better quality of life abroad perhaps. However, what’s certainly universally true – no matter why you’re currently researching your options of a relocation abroad when you come to retire – is the fact that there are many nations around the world where not only is the cost of living more affordable for us in real terms, but where the cost of buying a beautiful home is within reach for far more people too.
Property is the one asset or commodity that we buy in our lifetime that costs us a significant debt for a significantly long time! Most of us have to have a mortgage to help us afford our dream home, and so the thought that we may still be paying a mortgage when we retire is not a positive one at all.
As stated, the good news is that not only is the cost of living more affordable in relative terms in many nations in the world – but the cost of real estate can be too! So, if you long to escape to a more private nation or a country where you can afford a good standard of healthcare, where the sun always shines or where the people are welcoming, the landscape stunning – or just somewhere where you know your pension income will sustain you comfortably – it’s fantastic to also know that you may well be able to afford a wonderful home outright as well.
In this, the third instalment in our four-part hunt around the globe for affordable retirement real estate, we’re going to be exploring Africa and Asia. We’ve already covered Australia, New Zealand and the Americas, with Europe still to come in part four – and we think you’ll be pleasantly surprised to see how much more you can potentially get for even a modest real estate budget in both Africa and Asia.
What’s the Point of Our Search?
You may be wondering why we’re bringing your attention to specific homes for sale around the world – after all, what we consider to be a bargain might be too cheap and nasty for you to consider, where we perhaps think it would be nice to retire could be unattractive for you maybe, and by the time you read this report, a certain home you like the look of may have sold? Well, the purpose of this four-part series of reports examining affordable nations for retirement real estate is to hopefully show you that you can make your dream of a life abroad when you retire become a reality.
We’re very well aware that a move overseas can seem daunting, and that some people will throw obstacles in your path to put you off achieving your desires – at EscapeArtist.com we want to counter that negativity with inspiration, and clearly show you that actually, you can gain a better quality of life abroad, you can find an affordable home overseas, and you needn’t be restricted by the list of nations you’ve already visited in your life either!
EscapeArtist.com is home to sections about moving to live all over the world – whether you’re thinking of retiring to Romania or setting up a business in Buenos Aires – but if you’re new to researching your options for a retirement overseas, it can be hard to know where to start looking. This is a driving factor behind the production of this four-part series of guides to finding affordable real estate around the world. If you see that a certain nation has homes that suit you or your budget, you can learn more about those countries with our resource. Alternatively, if you’ve got your heart set on a given nation already, you can perhaps use these reports as a way in to finding more homes for sale within your budget in your chosen country.
At EscapeArtist.com we want to inspire you and we want to enable you – our reports and articles will hopefully give you the support and confidence you need to make your dreams come true, and our website’s country sections and real estate listings will hopefully give you the practical tools you need to find a new home and make a new life abroad.
Where are the Best Retirement Real Estate Bargains in Africa?
Morocco
In political terms, Morocco is a very Western looking African nation, and one that has a strong international tourism sector which has resulted in an active real estate market to boot. This means that you have good choice when it comes to the type and price range of homes on offer. If you fancy Africa because of the climate and you have a passion for golf, perhaps you’ll be interested to know that for just 37,322 US dollars you can purchase a one-bedroom, brand new and fully furnished apartment within a golf apart-hotel on a complex that also boasts swimming pools and a bar and restaurant! Such a property is perfect for retirement – it could also be an investment for the long-term because even if you one day wanted to return ‘home,’ it’s the sort of apartment that will sell or rent exceptionally easily.
If you want more space however, then how about a Riad that’s ripe for renovation. A Riad is a traditional Moroccan home built around a central and cool courtyard area. Many of these ancient properties have been snapped up by investors already and turned into stunning homes, boutique hotels and even apartment blocks. But if you want an unrivalled and exciting project to get your teeth into, there’s a 3 – 4 bedroom Riad in Marrakech for sale for just 111,000 US dollars. Whilst this is not ‘bargain-end’ cheap considering you will have to have a budget for renovation too, the opportunity is a once in a lifetime find! Both properties are for sale through MoroccoProperties.net
Tunisia
Despite having a strong tourism sector and being one of the closest nations to Europe with a year round sunny climate, the real estate market in Tunisia has been very slow to develop in terms of its international appeal. You can perhaps consider Tunisia to be a better kept secret than Morocco as a result, and bargains are easier to come by too. We’ve found a spacious 3-bedroom apartment less than a mile from Tunis that’s for sale direct from the owner for just 49,000 US dollars. The property also features 2 bathrooms and underground parking and it is within a gated and landscaped community. It’s described as being ‘new’ although it’s a resale, because the condition of the apartment is excellent. The property is for sale through BestAbodes.com.
If you’d prefer to get in before a property is even completed however, and have full say over the fine and final details of your apartment, there are many developments to choose from in Tunisia. We’ve selected the Dunes Golf and Spa resort for you to consider. It’s on the Tunisian ‘Gold Coast’ close to the exclusive resort of Port El Kantaoui, and it is an apartment based development featuring the best amenities and facilities you can dream of! Apartments start from 35,485 US dollars, meaning you can buy in to all this luxury on a very modest budget! There are a number of companies selling properties on this development, so just Google the development’s name.
Egypt
Egypt may well be a nation you’ve considered holidaying in, but perhaps one where you’d never considered living before? Well, the good news is that it’s a country increasing in sophistication, it has a Western outlook, and there are expatriate communities in and around the major cities and towns such as Cairo – the bad news is that property tends to be cheaper the further away you get from these centres of sophistication! But, following extensive searching we’ve managed to find a bargain in Cairo itself.
For sale direct from the vendor is a fully furnished, traditionally styled three-bedroom apartment for 90,000 US dollars. This is exceptionally good value for the location, and it does mean you will be living right in the heart of one of the most glorious and fascinating cities in the world in retirement – could you ask for more? The apartment in air-conditioned, the building comes with security, you have garaged parking and as mentioned, it is fully furnished.
An alternative to city living in Egypt is Red Sea living – so how about making your home on the beach overlooking the Red Sea in Hurghada? The Pyramisa apartment development offers condos for sale from 65,567 US dollars – and as a resident of this luxurious development you will not only have sea views and direct beach access, but access to the other onsite amenities and facilities such as a spa and swimming pools. Fishing and golf are popular local pastimes, and the development itself is beautifully landscaped. The Egyptian apartments featured are for sale through TheMoveChannel.com
Cape Verde
A lesser-known location for excellent property bargains in Africa is the Cape Verde archipelago including the islands of Sal, Boa Vista, San Vincente, Maio and Santiago for example. On Maio there are brand new, beach-front bungalows for sale which are ideal for retirees. They are priced reasonably at 49,654 US dollars, and because they are not completed yet, you can have your say when it comes to the finishing touches of your home. Alternatively, if you want a completed property that’s ready to move in to, how about a resale one-bedroom apartment on the same island that’s for sale for 47,853 US dollars?
This home is on the ground floor of a completed apartment development, it’s fully furnished, and although compact it offers you the opportunity to buy a turn-key home abroad. Both properties are for sale through PropertyIndex.com.
South Africa
Of course a consideration of property options for sale across Africa could not be complete without exploring South Africa – where there are plenty of bargains to choose from! You just have to select where in this vast and stunning nation you would be happiest living. Starting on the Eastern Cape in Pearston, a town famous as the birthplace of Nelson Mandela, there’s a substantial, traditional 3-bedroom resale property on the market for just 35,000 US dollars.
The property is a detached, single storey house with a large garden which has been cultivated with some fruit trees. Internally the house is modest, but with some imagination you could easily and affordably make this your home abroad in Africa in retirement.
If you prefer the Western Cape how about an immaculate two-bedroom resale apartment in Strand which is not far from Cape Town? It is located centrally and close to all amenities and facilities, it offers open plan living, two spacious bedrooms, a dedicated parking space and community gardens for residents. It’s being offered for sale for 41,029 US dollars.
For a similar amount however, you might like to buy a plot of land and have a traditional style fisherman’s cottage developed upon it. That’s the option if you buy a plot of land in Velddrif where 32 parcels have been set aside on a sought-after stretch of coastline for the development of an exclusive community of authentically replicated West Coast fisherman’s cottages. The land will only cost you 41,763 US dollars. According to the site’s developers, Velddrif is “situated near the mouth of the Berg River and Port Owen Marina, [it] offers modernity amidst quaint coastal charm. An astounding diversity of bird life wheels over an ocean where whales and dolphins play freely, and shining beaches stretch for miles. Local life proceeds at a smiling, gentle pace in harmony with the sea and the river. It begins at your doorstep.” Prices for the development of your bespoke home start from an additional 38,788 US dollars. All homes featured in South Africa are for sale through MyProperty.co.za.
Finding the Affordable Retirement Home of Your Dreams in Asia?
Malaysia
Malaysia offers it all – from fast paced, sophisticated city living in Kuala Lumpur, to a laid back beach-bum lifestyle on the coast. The country also has a retired persons incentive programme that’s worth checking out if you like the thought of being able to potentially reduce your tax burden when you retire! If you want sophistication when it comes to a retirement home overseas, how about purchasing a brand new apartment on a development that’s situated between Bandar Kinrara and Bukit Jalil in Kuala Lumpur?
The condominiums for sale are currently coming to the end of development, and they start in price from 74,000 US dollars for three bedrooms and two bathrooms. The development features amenities such as a swimming pool, gym, convenience store and café, and the apartments are being offered for sale through iProperty.com.my.
If you’re more of a beach person, how about a magnificent sea front villa in Kota Kinabalu for 90,000 US dollars? The villa for sale is gated, and from your gate you can walk directly on to the sand! It offers substantial living space and from your terrace you can watch fabulous sunsets! The property is for sale through 4321.co.il
Indonesia
For a more traditionally styled property that’s still within your price range and which is ready to move in to, set in mature landscaped grounds and which is being offered for sale fully furnished, we’ve found a stunning detached house in Bali that you might like to consider. It’s on the market for 96,000 US dollars, it’s located in the Karangasem region near Candi Dasa – and it’s even fully air-conditioned, which may very well be important if you’re moving to Indonesia from a less tropical climate!
For exactly the same price you could buy a property closer to the sea if you prefer. This is also a traditionally styled resale home with fabulous gardens, but it is not being sold furnished. The property’s location is perhaps slightly more favourable compared to the above if you want to be closer to the sea – although that’s a personal choice! Again it is located close to Candi Dasa, it has three bedrooms, two living rooms and a large open plan kitchen/dining room. Internally and externally the house is immaculate. Both homes are for sale through bali-information.com.
Thailand
Even though Thailand has become an exceptionally popular destination with international travellers and expatriates alike, it still offers some property bargains if you hunt hard enough. For example, in Pattaya there’s a two-bedroom apartment for sale for 54,168 US dollars at the Park Lane Jomtien Resort. The resort is managed and secure, it has swimming pools onsite and the property is so well located that you can access the beach, golf course, shopping and hiking opportunities too. The apartment has a pool view and a balcony, it’s furnished and air conditioned, and it is very well located for all the local amenities and services.
If you’d prefer your own private detached residence instead, then for just 55,000 US dollars you can buy just that in the form of a small bungalow, traditionally styled and located in Bang Bao. The houses for sale on this small development comprise of three bedrooms and one bathroom, and there are 5 different styles of property to choose from. Your completed home will have a small garden and be air-conditioned. Both properties are being marketed for sale through TheMoveChannel.com.
India
Our final choice for affordable property in Asia has to be India – perhaps the most vibrant, stunning and diverse nation on the entire continent. One of the most popular places for affordable and beautiful homes in India is Goa, where you are never far from a perfect, paradise-like white sandy beach! If this sounds like your ideal retirement hotspot, then how about a one bedroom, one bathroom apartment that is ready to move in to but which has never been lived in? It’s for sale for 42,809 US dollars, it comes with access to a swimming pool in landscaped grounds, and has been developed with eco friendly construction methods. This apartment is being listed by TheMoveChannel.com.
If you like the location but hate apartment living, you will need to stretch your budget a bit. But, if you can stretch to paying 134,000 US dollars you can have a stunning, brand new three-bedroom villa set within a villa only luxurious development in Southern Goa. The house is set in a 15 acre landscaped, gated and secure development which features a swimming pool, health club, convenience store and much more and it’s being marketed through RightMove.com. US dollar prices quoted in this report are based on the rate of exchange offered by xe.net on the date of this report’s writing and should be checked again before you even consider making an offer of interest for any property.
In Conclusion
Even in some of the most exotic and historically fascinating settings in the world it is still possible to buy affordable real estate dreams! Whilst we have been unable to show you bargain bucket homes in Asia and Africa compared with some we found in the Americas for example, we hope we’ve shown you that a modest budget can get you a decent home in a fabulous setting. You needn’t restrict your dreams and ambitions of a fabulous retirement abroad because of the budget you have in the bank!
At EscapeArtist.com we help hundreds of thousands of people realise their dreams of a new and better life abroad every single year. Inspiring you to make the decision and enabling you to make the move are the driving forces behind the ongoing development and enhancement of our online resources. If you’ve been inspired to look more closely at enjoying your retirement overseas in a stunning home after reading this report, hop on to our country sections and learn more about what you can expect from retirement overseas in a given nation.
hi………….it seems to me that people should be made aware that it is now very difficult, unless you have a job there, to get a resident visa for india……..people are routinely given only 3 or 6 month year tourist visas and then have to be out of the country for 2 months………so one certainly couldnt plan on living there long term…..also india is a place where everyone cheats and its always about who you know and as a newcomer youd be a puppy on the freeway……….laws are not adhered to…..bribes ubiquitous and property stealing common……buyer dont do it……i lived in india for 13 years, am american, and know the score……….please dont encourage peole to consider buying there….thank you, paula
The author fails to note the danger that exsits in these African/Muslim countries. Unless you bow to mecca how welcome do you thinki you would be here? And South Africa is one of the murder capitals of the world, I have met several people from there that discribed the danger. Central America is much safer and cheaper than any of these!
Rediculing the South African property market – especially the strong retirement property market with crudely generalized slogans such as the “murder capital” of the world is hopefully now something of the past – i.e. since the 2010 soccer World Cup first hand experience obliterated such pre-conceived fears of hundreds of thousands of fans in South Africa.
Property rights in South Africa is amongst the top ten most safest and “ordered” in the world. Capital growth has been the highest in the world during the last 12 years with more than 400% growth. Incidentally this has been more than double the Spanish, Australian or USA growth rates.
Leisure or lifestyle facilities abounds – especially in the Cape Town area. In Somerset West (20 kilometres from Cape Town International Airport) you can buy a one bedroom apartment in a retirement resort (Somerset Oaks) for R465 000 (i.e. about US $94 400). This is within “walking distance” to top medical facilities, shopping centres and less than 10 kilometres to 2 top 100 golf courses in South Africa. The Strand beach, which has been nominated\as the top family beach in SA during 2008 is also about 6 kilometres from the resort.
For more details – see http://www.cch.co.za reference number 51432
How about Spain, any suggestions there?
With their economic problems it could be a good time to buy?
Their property market seemed to be unaffordable with a big price boom for many years.
Consider Hua Hin Thailand as well. Property prices are still reasonable. Cost of living is much cheaper than the western world, and the King of Thailand has a permanent residence here making it one of the safest places in the world!!