With the new year comes new plans. And for those thinking of buying a house in 2024, we’ve listed what we consider to be the 10 cheapest countries to buy a house in Europe in 2024:
- Italy
- Greece
- Croatia
- Portugal
- Serbia
- Turkey
- Albania
- Romania
- Latvia
- Bulgaria
Discover below the cheapest countries to buy property in Europe, featuring the advantages and disadvantages of every place owning a house in a foreign country is something that many people dream of. What if I tell you you can buy a house in some of the most idyllic locations in Europe and pay just a fraction of what a similar house would cost in the U.S, in the UK or big cities?
That’s exactly what we are going to discuss in this post. We will list not only the cheapest places to buy a house in Europe, but also why these places are cheap and when you should actually consider doing that we will also list some prices per square meter in different countries in the continente. So let’s start with our list of the cheapest countries to buy a house in Europe.
1. Italy
Italy is often one of the top locations people consider when thinking of moving to Europe. stunning locales, incredible food and great wine are just a few of the things that draw people to Italy. however when most people see the real estate prices they’re quickly turned off, still some places in Italy are not only affordable, but are even cheaper than buying a house in the United States. Abruzzo is one such place while the average house prices are in the upper 50 000 US Dollars, you can find some great deals. You can get a four bedroom house in the country for around 47 000 US Dollars and you’re just a drive away from the ocean. BBC Travel wrote an article about the Italy’s ancient conical homes.
Italy has lots of opportunities for buyers and investors. For thoses who are looking for cheap prices, old houses could be a very good deal. We found really cheap houses with prices starting at 600€/m², 500€/m² or even less.
Check our research here
As you can see on the photo up there, Ponte Tresa is located on the north of Italy. Houses there can be find for around €170.000. It isn’t that cheap, i confess. But here below i will list you some of the cheapest regions in Italy and the prices i found in some trusted websites like Trovit:
- Provincia di Ragusa
- Price: €23.000
- Provincia di Sassari
- Price: €39.900
- Provincia di Cosenza
- Price: €35.000
- Provincia di Palermo
- Price: €15.000
Types of houses you can find in Italy
The architecture in Italy seems a little ancient according the region, but at the same time it’s very interesting because it has a very low price house. If you are willing to buy a old house for a low price, the countryside or rural areas is for you. Instead of this, if you are looking for more modern houses in Italy, you should try the northen region around Milan, Turin, Bergamo, Monza or even Novara, keep in mind you will pay way more than buying a old house in small villages, i guess the double at least.
How to Purchase a House in Italy: Step-by-Step Guide
Old Houses
These are more like ruins houses, rock/stone made, sometimes in precarious conditions or not, it depends a lot. Most of the time as unhabited houses with acceptable conditions, only needing some remodeling works and repairs. The biggest benefit is the purchase price, very low. But keep in mind you would waste a little more on future repairs. Most of the time these houses are abandoned, and the prices for old houses in Italy starts in €35.000 by our last research. A good website to start your research for cheap houses in Italy is Idealista.
Old Renewned
Old and renovated houses are a medium option in terms of price, houses that are old in terms of construction time, but have undergone a renovation process, so their price can sometimes be a little above average. I have already made it clear that these are not the cheapest options in Italy.
The prices for this type of house range from €200,000 to €400,000.
Villas
A villa is a large, luxurious house typically located in a scenic or rural setting. Historically, villas were associated with the upper class and often served as vacation homes or country estates. In Itally there are a lot of villas like here below, large houses, generally in rural areas, and it has average to high prices, some like €400.00 up to €700.000.
Luxury House
For this type of houses, prepare your wallet, it’s more than 1 million euros. Houses like this are the true luxury, it is the most sophisticated thing there is. We’ve made a research of the average price of this type of houses and, surprise, the amount is high. OK, we have to agree, this types of houses are for special people, with a lot of money, but is worth it to appreciate this beauties gems. I let here an instagram where we found this houses, from a real estate agent in Italy: Romolini Christies.
If you don’t mind a little work there’s a lot rustic Stone Cottage on a hectare of land for 35 000 US dollars. At that price you could fix it up and have a truly unique home. You can get townhouses for under 30 000 US Dollars, many of them needing little or no work before moving in.
Here is Milan, when i visited this amazing city. By far Milan isn’t one of the cheapest cities in Italy, but is worth it to mention that city is really nice to visit. But i have to say, Italy has a lot of places with cheap houses, old ones that is possible to renovate and buy it for a little bargain on the countryside of Italy.
2. Greece
Property in Greece: How to Buy a House in the Mediterranean
Our list is the famous ancient capital of Greece, Athens, which can guarantee you one of the cheapest house prices in Europe. A stunning two-bedroom house in Athens can be bought for the approximate sum of 160 000 US Dollars and some are cheaper than this. The average price per square meter in Athens is 1 600 US Dollars.
Athens is filed with eye capturing architecture and endless history dating from the Neolithic period, in addition, this country is home to the Glorious Greek cuisine which will leave your taste buds constantly satisfied with feta cheeses, Taramasalata, to name a few.
In April 2024, the average price per square meter for residential properties on sale in Greece stood at €2,333. This reflects a significant rise of 13.92% compared to the average price of €2,048 per square meter recorded in April 2022. It is noteworthy that this increase signifies a growing demand for and appreciation of residential properties in Greece.
If you want to start your search for houses in Greece, then start looking for the best real estate websites. We have listed here below the best websites for buying houses in the entire country of Greece.
- Residence-Greece: Residence-Greece is a website that focuses on real estate properties in Greece. Its main features include:
- Listings of residential properties for sale in various regions of Greece.
- Detailed property descriptions, including information on location, features, and pricing.
- Search functionality to narrow down property options based on specific criteria.
- Contact information and inquiry forms to get in touch with the website or property agents.
- Linos Real Estate: Linos Real Estate is a real estate agency in Greece. Its website offers the following features:
- A wide range of property listings, including residential, commercial, and land.
- Property search filters for location, price range, property type, and more.
- Detailed property descriptions, including specifications, photos, and contact information.
- Assistance with property buying, selling, and rental transactions.
- Additional resources and information related to real estate in Greece.
- Spitogatos: Spitogatos is a popular Greek real estate platform. Its key features include:
- Extensive property listings, covering residential, commercial, and land properties.
- Advanced search options, allowing users to filter properties based on various criteria.
- Detailed property pages with descriptions, specifications, photos, and maps.
- Additional tools and services, such as mortgage calculators and property valuation tools.
- User accounts to save favorite listings, receive notifications, and communicate with agents.
- Grekdom: Grekdom is a real estate portal focusing on Greek properties. Its main features include:
- Comprehensive listings of properties for sale and rent in Greece.
- Property search functionality with filters for location, price, property type, and more.
- Detailed property pages with descriptions, photos, and contact information.
- Resources and guides related to the Greek real estate market.
- Services for property owners, buyers, and tenants, including legal and financial assistance.
- A Place in The Sun: A Place in The Sun is a well-known international property portal. Its features include:
- Property listings from various countries, including Greece.
- Search functionality to find properties based on location, budget, and property type.
- Detailed property pages with descriptions, photos, and contact details.
- Additional resources and guides for buying property abroad.
- Tools and services to assist with the property purchase process.
- Savills: Savills is a global real estate services provider with a website that offers the following features:
- Extensive property listings across different countries, including Greece.
- Advanced search options, enabling users to refine property searches based on specific criteria.
- Detailed property pages with descriptions, specifications, photos, and contact information.
- Expert advice and services for buying, selling, renting, and managing properties.
- Market reports and insights related to real estate trends and investment opportunities.
- Elxis: Elxis is a Greek real estate platform with the following features:
- Property listings for sale and rent in Greece.
- Search functionality with filters for location, property type, and price range.
- Detailed property pages with descriptions, photos, and contact information.
- Tools and resources for property buyers and sellers.
- Information on legal and financial aspects of real estate transactions in Greece.
- Sotheby’s International Realty: Sotheby’s International Realty is a renowned luxury real estate brand with a website that offers:
- Luxury property listings across various countries, including Greece.
- Advanced search options to find high-end properties based on specific criteria.
- Detailed property pages with descriptions, high-quality photos, and contact details.
- Global network of experienced agents specialized in luxury real estate.
- Additional services
We’ve made a unique article to guide you over the process to buying a house in Greece, check the link below.
Property in Greece: How to Buy a House in the Mediterranean
3. Croatia
Some of the cheapest houses in Europe can be found in Croatia, Istria, with a two-bedroom house costing around 150 000 US Dollars, a very low price considering the beautiful seas and amazing forests found within Istria.
This is a popular tourist destination all year round and doesn’t have freezing winter months like other European countries. Within this list however, it is important to note that there are many cities in Croatia which are not considered as a cheap location to live in Europe. Split is an example of one of the more expensive locations, rated as the least affordable neighborhood to buy an apartment in Croatia 3 800 US dollars per square meter.
4. Portugal
Cheap beach towns in Portugal to visit in the summer 2024
Portugal is a country that has gained huge popularity among expats and retirees in the past decades. This has made most of it’s real estate market prices to Skyrocket. but then one could ask: Why is Portugal in this list then?
Incredibly, the price of farmhouses in Portugal is very affordable. In our research we found farmhouses priced from €47,000, which is very affordable compared to other countries in Europe.
Check our research here
Here it’s me in Nazaré. Yeaaa, this seaside village in Portugal is very known for its big waves, some like 20-30meters height. The region around Nazaré, even properly in Nazaré is a such good place to buya house and start a quiet life in a beach town in Portugal.
Starting House Prices in Nazare, Portugal: €70.000 up to €90.000
Starting Land Prices in Nazare (without house): €40.000 up to €60.000
The truth is that while Portugal property prices did increase significantly in the past decades, most of this price movements happened in some parts of the country, while Lisbon, Porto and the Algarve are quite pricey at the moment. Portugal still offers some great bargains, most of the bargains in Portugal are located in the countryside, where you can buy a house or even a small farm for a quite cheap price. In some districts like Bragança or Costelo Branco, along the border with Spain you can find houses under 500 US dollars per square meter of constructed área, oftentimes with a nice garden. However, these properties tend to be either rural or in quite small towns.
Would you like to know where to buy Cheap Old Houses in Europe? Portugal is the right place for you!
Check this article: Good opportunities to own a old house in Europe(Portugal)
5. Serbia
Serbia is a country that I often talk about because it offers so many advantages for anyone considering moving abroad. Among the key advantages, a low cost of living, a pleasant weather and an easy residence permit process are worth mentioning. Apart from that, properties in almost all parts of Serbia are quite affordable and that is why the country made it to the list, the capital Belgrade has considered higher prices than the rest of the country, but even driving just a few miles outside of Belgrade you will see a very significant drop in property prices in cities like Novi Sad, which has a great location and decent infrastructure.
How Much a House in Serbia?
You have a good offer of apartments in the 1000 to 1500 US dollars per square meter range. If you want to buy a house in Countryside Serbia, the prices are pretty good. Even in the vicinity of cities you can easily find houses in good conditions for as low as 500 US dollars per square meter.
6. Turkey
Turkey, it is another country that almost didn’t make it to the list, mostly because just a small part of its territory is in fact act in the European continent, but there are undeniable facts making of turkey a great option if you want to buy a house abroad for ridiculously low prices.
First of all, the purchase power and the cost of living in Turkey are much lower than in most European nations.
Secondly the Turkish lira which is the country’s National currency has been losing value versus the dollar and the Euro pretty constantly during the past years. There are many interesting areas to consider in Turkey, in the European part of the country, as well as in the Asian part of it. You can choose between its beautiful countryside, mountainous regions, the Black Sea Coast and the Mediterranean Coast.
In the city of Istanbul, in the European part of Turkey, the prices are quite amazing. You can find properties for around 1150 US dollars per square meter in pretty Central áreas. If you go to the countryside you can find decent houses for as low as 500 to 1000 US dollars per square meter.
Recently we found this instagram that has some good offers of real estate and cheap houses around the world: YourCheapDreamHome
7. Albania
Albania is another pretty underrated country in Europe, but unlike Turkey it is much smaller in both territorial terms, but also in its population. Albania is pretty similar to Turkey in one aspect though, its property prices. The country of Albania is blessed by nature but also has a turbulent past that translates into some of the cheapest properties with some of the best views in the continente.
How Much a House in Albania?
The capital Tirana is by far the most expensive location in the country and properties can range from 1000 to 2000 US dollars per square meter usually. In the coast of Albania is where you will find some of the greatest cheap houses and apartments in Europe.
In the city of Sarandë, for example, it is quite common to find apartments with a view to the sea for below 1 000 US dollars per square meter.
8. Romania
Romania is one of my favorite countries in Europe, for its delicious Cuisine, quaint provincial towns of Transylvania and overall low cost of living. In Romania you will also find some of the cheapest real estate in Europe.
The capital Bucharest is a quite large city and has a domestic migration from other parts of Romania, making of it relatively pricey for Eastern Europe prices. If you go further away from the capital into smaller cities and towns it is where you can find the real gems in terms of cost-benefit analysis.
In cities like Iasi or Timisoara you can find a number of Apartments ranging in the 1000 to 1500 US dollars per square meter range. If you go to the countryside you can find decent houses for as low as 500 US dollars per square meter built, and plus, some land on top of that included in the price.
9. Latvia
Latvia is the best option if you want to buy a cheap house and live in northern Europe. As most of the countries in this list are actually in southern Europe, this Baltic State is a full European Union Member, it is also a member of the Schengen area and currently uses the Euro common currency. Despite its location in northern Europe, Latvia does offer some of the cheapest houses and apartments in the whole of Europe. This surprisingly applies, even to the capital Riga.
In fact, Riga is one of the cheapest European Union capital titles to buy property, together with Sofia, Bulgaria, you can find properties in Riga just outside the city center for as low as 1500 US dollars per square meter.It is not uncommon to find some offers at 1000 US dollars per square meter, and even below that if the property needs renovations. Outside of Riga, the prices are even lower, there is no real lower limit to this. In the city of Daugavpils, in eastern Latvia for example, it is pretty common to find apartments with a price per square meter as low as 300 US dollars.
10. Bulgaria
We are going to end our list of the cheapest countries to buy a house with Bulgaria. Bulgaria is one of the most affordable countries in the European Union and the one with the lowest income in the block, this reflects in a lower than average cost of living for European standards and also pretty cheap Properties, may they be apartments or houses. Property prices in Bulgaria are pretty low all over the country, in the Countryside by the seaside, and even if you want to live in the capital Sofia.
How Much a House in Average in Bulgaria?
In fact, Sofia is one of the cheapest Capitals in Europe, with price per square meters going from 1000 US dollars to 2000 US dollars. A bit farther away from the center it is not uncommon to find properties below 1 000 US dollars per square meter, if you go to the inner parts of the country prices are even lower.
In the city of Veliko Tărnovo you can get an apartment for as low as 500 US dollars per square meter, houses in smaller towns are even cheaper.
There are so many opportunities available to na investor in Europe that those serious about investing in real estate, should give the continent careful consideration.
And what do you think about the real state opportunities in Europe? In average, are cheap, expensive?
