Real estate prices in Europe continue to rise, especially in major cities and popular tourist destinations. However, there are still countries and regions where property remains affordable, whether for personal use or investment.
In this guide, we’ll explore the most affordable real estate markets in Europe, compare average property prices, and evaluate investment potential.
1. Albania – Affordable Seaside Properties
Albania remains one of the cheapest countries in Europe to buy property, particularly in its coastal towns.
💰 Average Property Prices:
- Tirana (Capital) – from €1,200 per m²
- Vlorë (Coastal city) – €900–1,500 per m²
- Sarandë (Tourist hotspot near Corfu) – €1,200–1,800 per m²
✔ Pros: low taxes, strong investment potential, Mediterranean climate.
❌ Cons: underdeveloped infrastructure, bureaucratic challenges.
2. Bulgaria – Cheap Apartments by the Black Sea
Bulgaria remains one of the most affordable real estate markets in the EU, particularly in its coastal regions.
💰 Average Property Prices:
- Sofia (Capital) – from €1,500 per m²
- Varna (Black Sea Coast) – €1,000–1,500 per m²
- Burgas (Resort town) – €900–1,400 per m²
- Sunny Beach (Tourist area) – €600–1,200 per m²
✔ Pros: low cost of living, good infrastructure, warm climate.
❌ Cons: seasonal rental demand, resale challenges.
3. Romania – A Growing Market in the EU
Romania offers some of the lowest property prices in the EU, with a fast-developing economy and growing infrastructure.
💰 Average Property Prices:
- Bucharest – €1,500–2,200 per m²
- Cluj-Napoca (IT Hub) – €1,800–2,500 per m²
- Brașov (Historic and mountain region) – €1,200–1,700 per m²
✔ Pros: EU membership, economic growth, low prices.
❌ Cons: complex bureaucracy, less-developed rental market.
4. Portugal – Affordable Homes Outside Major Cities
While Lisbon and Porto have become expensive, smaller cities and rural areas still offer reasonable property prices.
💰 Average Property Prices:
- Lisbon – €4,500–7,000 per m²
- Porto – €3,500–6,000 per m²
- Algarve (Southern coast) – €2,000–4,000 per m²
- Évora, Coimbra (Inland Portugal) – €1,200–2,000 per m²
✔ Pros: investor-friendly policies, strong rental market, residency options.
❌ Cons: expensive capitals, rental market saturation.
5. Greece – Affordable Homes on the Mainland and Islands
Greece remains one of the most affordable places in Southern Europe with many opportunities for buyers.
💰 Average Property Prices:
- Athens – €2,500–4,000 per m²
- Thessaloniki – €1,500–2,500 per m²
- Crete, Rhodes – €1,500–3,000 per m²
- Smaller islands – €800–2,000 per m²
✔ Pros: “Golden Visa” program, strong rental demand.
❌ Cons: bureaucracy, seasonal demand in some areas.
6. North Macedonia – One of Europe’s Cheapest Markets
North Macedonia offers some of the lowest property prices in Europe, though its market is still developing.
💰 Average Property Prices:
- Skopje (Capital) – €1,000–1,500 per m²
- Ohrid (Lake Resort Town) – €800–1,300 per m²
✔ Pros: very affordable, investment potential.
❌ Cons: not in the EU, limited rental market.
7. Poland – Reasonable Prices Outside Major Cities
Warsaw and Krakow are getting more expensive, but smaller Polish cities still have affordable properties.
💰 Average Property Prices:
- Warsaw – €2,500–4,000 per m²
- Krakow – €2,000–3,500 per m²
- Wroclaw – €1,800–3,000 per m²
- Lodz, Katowice – €1,200–2,000 per m²
✔ Pros: strong economy, good rental market.
❌ Cons: rising prices, some restrictions for foreign buyers.
8. Montenegro – An Undervalued Investment Market
Montenegro is a small country with high investment potential and a growing real estate market.
💰 Average Property Prices:
- Podgorica (Capital) – €1,500–2,500 per m²
- Budva (Tourist hotspot) – €2,500–4,000 per m²
- Bar, Herceg Novi (Coastal towns) – €1,500–3,000 per m²
✔ Pros: stunning coastline, foreigner-friendly investment policies.
❌ Cons: seasonal rental demand, small economy.
Conclusion
Despite rising real estate prices across Europe, affordable properties can still be found in various countries and regions.
🔹 Cheapest countries: Albania, North Macedonia, Bulgaria, Romania.
🔹 Best EU investment options: Greece, Portugal, Poland.
🔹 Emerging markets: Montenegro, Bulgaria, Romania.
