These are the places where your money will go further abroad post-Brexit

 

Once upon a time you could get 1.7 euros and two US dollars for a pound. But following the Brexit vote, sterling has had a bumpy ride against almost every currency in town. That could impact your lifestyle if you want to retire abroad – you might need to consider a cheaper property than that chateau you had your heart set on.

 

 

So where can you make your money go further? There’s bad news for those who want to head for another English-speaking country; it’ll cost you. As far as North America is concerned you’ve lost on the currency already; £1 will buy you USD 1.34 against 1.6 before the referendum, and CAN 1.75 instead of two dollars. Add to that the high healthcare costs of the US and it looks like a poor choice.

 

 

In the case of Australia, though the currency hasn’t moved against you, a real estate boom has pushed property prices in the main cities sky high, and New Zealand’s six-year property bubble could be ending in tears. They are talking about banning foreign buyers altogether.

 

 

 

In Europe, it’s not just the Euro that has strengthened against the pound – even the Bulgarian Lev and Hungarian Forint are trading higher than they were. Still, the price of property in many areas is still way below what you’d pay in the UK, particularly if you’re looking for a rural property in France; you can get a small estate in Berry for the price of a London flat.

 

 

Both cheap and sunny, Portugal remains attractive, and besides great food and wine, sandy beaches and charming small towns, it has two particularly good offers – a ten-year tax holiday (remember to apply before you move) and a residence permit offered whenever you buy a property over EUR 250,000. That might come in useful after Brexit…

 

 

Look outside Europe, and some countries offer a ridiculously low cost of living together with modern infrastructure and health services. For instance, if you’re over 50 you can apply for a pensioner visa that will let you live long term in Thailand. A three-bed villa on the island of Koh Samui will cost you £150,000 or so, and you can spend your time swimming, snorkelling, or just relaxing on the beach.

 

 

Some countries have pensioner plans in place. The Malaysia My Second Home programme, for instance, offers a ten-year residence permit, and Malaysian living costs are half what you’d pay in the UK – though again, you’ll get fewer ringgit than you would have two years ago. In Latin America, Panama has a programme that offers great benefits for retired people, including discounts on travel, eating out, and utilities, as well as a property tax exemption. Living costs are low, and the landscape is stunning, whether you choose the coast or the mountains.

 

 

 

Ecuador is another Latin American country to offer great benefits as well as inexpensive healthcare, and the attractive colonial city of Cuenca has become a popular destination for US retirees. But you may not find many English speakers there – and besides, the country uses the US dollar as its currency, so it’s no longer such a great bargain for Brits.

 

 

If you’ve seen The Best Exotic Marigold Hotel you might be thinking about India as a destination. But it’s not terribly practical, unless you’re an OCI/PIO (if you know what that means, you probably are) or you’re prepared to take your chances on a 180 day at a time visa, staying outside the country in between times. And foreigners can’t buy property.

 

 

 

So where is the best destination, if we wanted somewhere with sunshine, a cheap cost of living, affordable property, and a currency that’s weakened against the pound? Turkey. You could spring for a villa in Bodrum or Yalikavak for anywhere from £150,000 up to £1.5m, and believe it or not, you’re within an hour’s drive of real ski slopes as well as the beach.

 

 

Even better, you can now buy 50% more Turkish lira for your pound than you could in 2016.

 

If you’re ready to find the holiday home that you’ve always dreaming of, you will need to be aware of competitive exchange rates and flexibility of international payment products to secure your perfect property abroad and so you might want to readjust those search parameters on Rightmove sooner rather than later!