With house prices still high and mortgage rates continuing to soar, it's no surprise that UK homeowners are looking to move overseas for a more affordable way of life.
First of all, the homes are usually doer-uppers which have been left derelict and require a serious amount of renovation to repair to a habitable state. This means you’ll need some decent savings in your bank to be able to bring the property back to life. It’s also worth noting that not every home ends up being sold for just €1, which works out around 85p. Some homes have ended up going for €5,000 or even €20,000 after sparking a bidding war from prospective buyers when put up for auction.
Source: Real Estate Daily Report (realestatedailyreport.net)
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