House prices have increased tremendously since 2010 in most European countries due to the high demand, making the thought of purchasing property in this region a tricky affair. However, you may be surprised to learn that finding and buying affordable homes in some of these countries is easy.
The easiest countries to buy a house in Europe include Portugal, France, Cyprus, Spain, Poland, and Italy. Although purchasing property in some of these countries may be expensive, they have no strict restrictions against foreign home buyers.
Although Europe’s residential real estate prices keep rising, you are guaranteed to find houses in countries with low inflation rates. This article discusses several countries you can easily find homes. Additionally, we explain how to get citizenship by buying property in Malta.
Top easiest European countries to buy property in 2023
1. Spain
Spain is the most accessible place for foreigners to buy property as the government greatly promotes foreign real estate buyers. Buying property in this country is simple as all you’ll need is a Foreigner’s identification card, Número de Identificación de Extranjero.
One of the best places for buying a holiday home in Spain is the island of Formentera. The average price of the house there is 1,384,285 USD.
House prices in Spain vary in different locations. Madrid, Barcelona, and San Sebastian are some of the most expensive regions. However, you can get affordable properties in places like Valencia or Alicante.
In Alicante, you could find a house for 1,866 USD per m2. Conversely, the same space goes for 2,977 USD in Madrid. A two-bedroomed apartment in Alicante costs 223,813 USD, while one in Barcelona goes for 237,733 USD. Below is a table showing house prices in different cities.
| City | Average price per m2 |
|---|---|
| Andalusia | 1,236 USD |
| Catalonia | 1,641 USD |
| Madrid | 2,412 USD |
| Valencia | 1,087 USD |
| Balearic Islands | 2,489 USD |
| Albacete | 1,072 USD |
| San Sebastian | 4,016 USD |
| Malaga | 1,818 USD |
Buying a house in Madrid is a good option as there are various housing options. This city has a deep culture and offers a broad shopping experience suitable for US citizens. Other possible residence options in Spain include Mallorca and Barcelona. These cities have well-established expat communities and fantastic weather.
Moreover, Spain is one of those European countries that offer a residence permit by investment in real estate. For this, you must buy a house or apartment that costs above 500,000 USD. Investors can get Spanish citizenship in 10 years.
Spain’s cost of living stands at 2,206 USD for a family of four, while that of a single person is 623 USD (without rent). Since Spain is between the Atlantic Ocean and North Africa, it experiences humid and semi-arid climates with less rain, which is easily adaptable for foreigners.
Spain is approximately 505,983 km2 and has a population of over 47 million people. This country’s major cities include Madrid, Barcelona, Valencia, Sevilla, Zaragoza, Malaga, and Murcia.
Read more about house prices in Spain.
2. Poland
Buying a house in Poland as a foreigner is possible and doesn’t require any legal documents. EU citizens can purchase a home in the country without a permit, but other nationals will need permission from the Polish ministry of internal affairs.
The average cost of a house in Poland is about 2,793 USD per m2. A one-bedroomed apartment in Warsaw, Poland, could cost around 77,522 USD, while a two-bedroomed apartment goes for 142,565 USD.
Below is a table showcasing house prices in different Poland cities.
| City | Price per m2 |
|---|---|
| Kielce | 874 USD |
| Torun | 1,022 USD |
| Bialystok | 1,032 USD |
| Zielona Gora | 1,075 USD |
| Katowice | 1,196 USD |
| Poznan | 1,391 USD |
| Krakow | 1,611 USD |
| Gdansk | 1,617 USD |
| Warszawa | 1,794 USD |
Poland’s cost of living is about 814 USD for a single person and 1,866 USD for a family of four, including rent. Below is an illustration breaking down this country’s cost of living.
Krakow is the best city in Poland to reside in and buy a house. This city has a vibrant nightlife, cobbled streets, and several historical buildings, meaning there’s something for everyone.
Purchasing an apartment here is quite profitable, as the demand is high.
Poland’s average area is 312,696 km2, and its major cities include Warsaw, Krakow, Poznan, Gdansk, and Szczecin. This country isn’t the best choice if you prefer tropical weather, as it experiences pretty cold winters and warm summers.
3. Portugal
Portugal is a very popular location for purchasing apartments and houses in Europe due to its foreigner-friendly investment laws and extremely favorable tax rates.
Portugal has friendly communities and beautiful beaches; a perfect country to purchase a home. This country allows foreigners to buy property, and all that’s required is the Numero de Contribuinte, the fiscal number.
The average price of a house in Portugal is about 1,094 USD per m2. This price varies from location to location. Apartments in Lisbon can cost as must as one or two million US dollars, while those in Madeira Island go for 195,980 USD. On the other hand, houses on Madeira Island cost 784,081 USD.
The best place for buying real estate in Portugal is the city Funchal. The average price of the house there is 380,140 USD.
Portugal’s best residential places for foreigners include Lisbon, Porto, Chaves, Braga, Madeira, and Faro. These areas have great work opportunities and beautiful tourist attractions.
A single person’s cost of living in Portugal is 977 USD, while that of a family of four is 2,297 USD. This is manageable as the average monthly salary after tax is 972 USD each month. Below is an illustration of this country’s cost of living.
Furthermore, as a foreign resident in Portugal, you will get a ten-year tax exemption. This ensures you don’t waste your money on hidden fees and taxes associated with buying a property.
Portugal has a warm temperature climate and thus is easily adaptable. The total geographical area of Portugal is around 92,345 km2, and its major cities include Lisbon, Porto, Amadora, Braga, Setubal, Coimbra, and Queluz.
4. Serbia
Buying a house in Serbia as a foreigner is allowed. Moreover, once you purchase a property, you will be granted a residence permit.
However, the ease of the process will depend on your nationality. You might have to attain some requirements before doing so. The main condition to qualify is legal reciprocity, whereby Serbia and your country of origin have an agreement allowing you to purchase property in the country.
House prices in Serbia stand at 1,913 USD per m2. Belgrade has the highest prices, which are around 2,538 USD per square meter. You could find some of the cheapest houses in places like Kraljevo for 802 USD or Zajecar for 451 USD per m2. Below is a table showing house prices in various Serbia cities.
| City | House prices per m2 |
|---|---|
| Belgrade | 2,220 USD |
| Novi Sad | 2,167 USD |
| Pancevo | 1,152 USD |
| Valjevo | 1,500 USD |
| Bor | 1,200 USD |
| Zajecar | 451 USD |
| Subotica | 788 USD |
| Kraljevo | 802 USD |
| Novi Pazar | 811 USD |
| Kragujevac | 1,163 USD |
| Nis | 1,419 USD |
Belgrade is the best place to live in Serbia as an expat. This city has a buzzing nightlife with amazing nightclubs. Zemun is also a good option with unique architectural designs like the beautiful Gardos Tower. Other favorable residence options for foreigners include Subotica and Novi Sad.
The cost of living for a single person in Serbia is 677 USD, while that of a family of four is 1,655 USD. That said, Serbia experiences hot summers and cold winters as it’s located in South Eastern Europe and is about 88,361 km2 in size. This country’s major cities include Belgrade, Niš, and Novi sad.
5. Cyprus
Foreigners can buy houses in Cyprus, provided they have no criminal records. However, non-EU citizens are limited to purchasing only one apartment or house. You could buy more property after attaining citizenship in this country.
A house in Limassol goes for 166,595 USD, while an apartment costs 97,993 USD and a villa is about 264,597 USD. On the other hand, in Paphos, a house goes for 147,016 USD, an apartment costs 78,411 USD, and purchasing a villa will cost you 294,029 USD.
Below is a table showing apartment prices in various Cyprus cities.
| City | Apartment price per m2 |
|---|---|
| Larnaca | 2,449 USD |
| Paphos | 2,938 USD |
| Ayia Napa | 3,918 USD |
| Paralimni | 1,959 USD |
| Limassol | 5,877 USD |
| Protaras | 3,428 USD |
The best cities for expats in this country include Nicosia, Limassol, Larnaca, and Paphos. That said, the cost of living for one person in Cyprus is 1,213 USD, while that of a family of four is 2,964 USD.
Cryptic citizens enjoy Mediterranean weather along the coast and receive little rainfall. However, the country’s uplands get hotter during the summer. Cyprus has an area of about 9,251 km2, and its major cities include Nicosia, Limassol, Larnaca, and Paphos.
6. Italy
Buying a home in Italy is pretty straightforward and not restricted as a foreigner. When acquiring a real estate in Italy, you will go through the same process as in most EU countries, which includes paying for the following:
- Notary fees
- Registration tax
- Land Registry tax
- VAT – only on new properties
- Legal fees
Italy is a fantastic place for a holiday or a permanent home. Recently, the country came up with a digital nomad visa, allowing foreign citizens to stay for a long period. That’s could be a great opportunity for purchasing your new house and enjoying the Mediterranean climate in Italy.
The best place for buying a vacation home in Italy is the island of Sardinia; the average house goes for 760,000 USD.
That said, the average cost of a typical house in Italy is 1,929 USD and 2,520 USD per square meter. See more in our guide on house prices in Italy.
See property prices across the country in the graphic below.
Which EU country gives citizenship by buying a property?
Some European countries like Latvia, Spain, and Portugal offer temporary residency permits for purchasing property in their country.
However, Malta and Portugal stand out for offering permanent residency and even citizenship in exchange for investing in real estate. In Malta, the requirements are also lower than in other countries; you can get a residency when buying a property that costs at least 220,000 USD.
Getting citizenship in Malta requires higher investments and meeting additional criteria. Citizenship by investment has several benefits, like allowing easy residential acquisition and giving you the same rights locals have. However, you must meet the following requirements first.
- You should be eighteen years old or older.
- You should invest about 587,378 USD (€600,000) if you have more than thirty-six months in the country and 734,227 USD (€750,000) if you’ve resided in this country for only twelve months.
- You must hold the property for at least five years.
- Donate about 9,791 USD (€10,000) to a known organization.
- Own a valid residency card.
- Be in good health.
Keep in mind that you can’t sublet or sell the property during the five years.
Benefits of being a Malta citizen include:
- Living, studying and working in the EU
- A good quality of life with a great climate
- Access to the Maltese healthcare system
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