20 Cheapest European Cities for Expats to Buy Property

This summer has been something of a washout, and we at Moneytransfers.com are beginning to wish that we could escape to a holiday home somewhere with a bit more sun. The only question is where? Destinations such as Lanzarote and Paphos have long been popular with expats seeking warmer climes, but no longer offer the great bargains they once did, and with some towns now housing more expats than locals, the exoticism of these resorts is waning too. The great news is that there are still plenty of undiscovered gems waiting to be found, where property prices are low and your neighbour is more likely to be a friendly local! We’ve taken a close look at the cheapest European cities to buy property, so read on to discover the untapped destinations that expats will soon be flocking to:

1. Bitola, North Macedonia

Average price for a 100m² apartment = $97,942.75

In Bitola’s Shirok Sokok, elderly men gather to play chess and sip Turkish coffee, reflecting a city where the pace of life is slow and laidback. Bitola is situated just nine miles away from the border with Greece, and is perhaps best known for the Heraclea Lyncestis archaeological site, with its stunning floor mosaics and impressive Roman theatre. There are many beautiful hiking routes surrounding Bitola, but Pelister National Park, with its big lake, is the most scenic

Can expats purchase property? Yes, subject to a reciprocity agreement between North Macedonia and their home country. The United Kingdom has a reciprocal agreement and therefore UK nationals can purchase property in North Macedonia.

2. Chisinau, Moldova

Average price for a 100m² apartment = $138,345.05

With 23 lakes and numerous country parks enveloping it, Chisinau is said to have one of the highest proportions of green space of any city in Europe. Its fertile position holds many benefits, but one of the key ones is a plethora of vineyards, making it a popular destination for wine tours. Featuring Brutalist architecture and Soviet murals, Chisinau’s past pervades throughout the city, but while certain attractions such as the Nativity Cathedral still bear their scars, if you venture inside you’ll discover the real beauty.

Can expats purchase property? Yes, there are no restrictions.

3. Mostar, Bosnia and Herzegovina

Average price for a 100m² apartment = $138,777.39

The world-famous Stari Most is the indisputable landmark of Mostar and instantly recognisable as a symbol of the civil war that took place here during the 90s. Both the bridge and the city have been rebuilt since the 1993 bombardment, and while the city still bears bullet holes, Ottoman architecture sits alongside traditional restaurants and mosques. Expats are starting to see the potential of Bosnia and Herzegovina and in recent years the country has been popular with entrepreneurs looking to set up technology businesses.

Can expats purchase property? Yes, subject to a reciprocity agreement between Bosnia and Herzegovina and their home country. The United Kingdom has a reciprocal agreement and therefore UK nationals can purchase property in Bosnia and Herzegovina.

4. Plovdiv, Bulgaria

Average price for a 100m² apartment = $142,105.63

The second largest city in Bulgaria has long been a favourite with visitors owing to its multitude of attractions. The ancient amphitheatre sits at the centre, and while in its heyday it was the backdrop to gladiator fights, on a summer's evening it now hosts concerts and opera performances. Contrasting with but complementing this historic charm, the modern district of Kapana lies adjacent, boasting trendy art galleries and craft beer houses. Plovdiv isn’t just an adult destination though: the singing fountains, Aqualand and Children’s Railway all appeal to a younger generation who will be keen to return year on year.

Can expats purchase property? To purchase property in Bulgaria you must be an EU or EEA citizen. UK nationals face a few challenges following Brexit, as while they can purchase a house or apartment in Bulgaria, if the building has land attached to it they’ll need to seek legal advice.

5. Burgas, Bulgaria

Average price for a 100m² apartment = $147,839.06

If you’re seeking a seaside pad, Burgas on the Black Sea coast could be what you’re after. The coastal city has an unfair reputation as a gateway port to the more popular tourist resorts and historic towns situated further up and down the coast, but it holds a lot of appeal itself. The city has a large uncrowded beach, seaside park and smattering of local museums, and is ideally located to travel around. One place that can’t be missed is the pink-hued Lake Atanasovsko, as famous for its bird-life as its Instagramabilty.

Can expats purchase property? See Plovdiv

6. Craiova, Romania

Average price for a 100m² apartment = $161,142.09

Craiova’s Nicolae Romanescu Park has the accolade of being the third largest within Europe, and amongst its 22 miles of walking parks visitors will discover botanical gardens, a zoo and Romania’s largest racetrack. As a university city there are many cultural attractions and the Craiova Art Museum, designed by the French architect Paul Gottereau, has to be a particular highlight. You can learn more about Craiova’s distinct architecture at the Muzeul Olteniei which also provides a fascinating insight into Craiova’s Neolithic past. When you require a break from all the culture head to the Water Park Craiova where the locals go to relax.

Can expats purchase property? Citizens of the EU and EEA can buy property in Romania with no restrictions. Foreigners living outside of the EU or EEA can still buy property but they won’t own the rights to the land it’s built on and should therefore consult a lawyer.

7. Sibiu, Romania

Average price for a 100m² apartment = $165,398.36

Medieval Sibiu is situated within the famous region of Transylvania and any property that you purchase here will have a distinct feature... Known as the City of Eyes, all of the buildings have eye-shaped skylights that will make you feel as though you are being observed wherever you go. Strauss, Brahms and Liszt all played concerts here during the 19th Century, and years later the city is still a cultural hub, with opera, theatre and film festivals taking place throughout the year. Also worth exploring is the 12th century citadel, but one piece of advice: try not to tell a fib when crossing the Bridge of Lies.

Can expats purchase property? See Craiova

8. Patras, Greece

Average price for a 100m² apartment = $174,760.67

Patras is a bustling student city situated on the mainland of Greece in the Peloponnese region. With a young population it has a reputation as a city that seldom sleeps, owing to its thriving nightlife. The Riga Feraiou Street is full of life both day and night, whilst in the summer Rio, with its casino and nightclubs, is the place to head too. The Old City provides a welcome contrast with cobbled streets, neoclassical mansions, and even a mediaeval castle which sits on the ruins of an ancient acropolis. There are several spots around the city paying homage to the Greek poet, Kostis Palamas, who was born here.

Can expats purchase property? EU residents can purchase property in Greece with no restrictions. Following Brexit, UK citizens still have the right to purchase property but may run into a few administrative issues. However, now that the UK is no longer part of the EU, UK residents are eligible for the Golden Visa scheme which grants a five year residency permit to those investing in property within the country providing that they spend at least €500,000.

9. Oradea, Romania

Average price for a 100m² apartment = $178,070.28

A property in Oradea should be seen as something of an investment, as this is one of Romania’s fastest growing cities with large developments currently being made in the infrastructure. Oradea is a vibrant university city just 8 miles away from the border with Hungary and the only one of Romania’s cities that is part of the European-wide network of Art Nouveau cities. At the heart of the city and close to Black Eagle palace sits the citadel, its most prominent landmark. In the summer months, locals flock to the Felix baths, a popular thermal spa resort, whilst those seeking more of a thrill head to the Nymphea waterpark, which is one of the largest in Europe.

Can expats purchase property? See Craiova

10. Tuzla, Bosnia and Herzegovina

Average price for a 100m² apartment = $180,518.94

Situated off the tourist trail, Tuzla takes its name from the many salt mines that can be found beneath the city. While mining is no longer the main form of industry, if you head to the Old Town area you can see evidence of the city’s past, with sinkholes peppering the cobbled streets. Tuzla is now a bustling university town with Ottoman, Austro-Hungarian and Yugoslavian influences in its architecture.

Can expats purchase property? See Mostar

11. Palermo, Italy

Average price for a 100m² apartment = $188,381.74

Fans of the HBO hit White Lotus will be surprised to discover just how inexpensive it is to live in Sicily. The resort of Palermo may have provided the perfect luxury backdrop to the series, but in reality it costs $1,883.82 per square metre to own an apartment in the centre. The stunning Piazza Pretoria with its frolicking water nymphs, tritons and river gods is an impressive sight, and the streets surrounding it are home to some beautiful 12th century churches. We can’t mention Italy without mentioning food, and Sicily’s thriving culinary scene is best sampled on a street tour around the Capo, Vucciria and Ballaro markets.

Can expats purchase property? Citizens of the EU or countries with a bilateral agreement are free to purchase property in Italy with no restrictions. The UK has a bilateral agreement in place with Italy and therefore UK citizens may purchase homes here.

12. Varna, Bulgaria

Average price for a 100m² apartment = $190,077.54

Varna is the maritime capital of Bulgaria and sits on the Black Sea coast. Within the city centre you’ll find the country’s largest network of Roman baths and an extensive archaeological museum. Varna also has a lively restaurant scene and there are many child-friendly attractions from the Aquapolis Water Park to the Singing Fountains.

Can expats purchase property? See Plovdiv

13. Skopje, North Macedonia

Average price for a 100m² apartment =$190,747.17

North Macedonia’s capital city is full of charm and is fast making its name as a city break destination, due in part to the many low-cost airlines that serve it. Skopje is very much east-meets-west, with a traditional Arabian bazaar positioned within spitting distance of the bars and nightclubs of the Debar Maalo neighbourhood.

Can expats purchase property? See Bitola

14. Catania, Italy

Average price for a 100m² apartment

The second Sicilian city to make our list, Catania, is the perfect gateway to Mount Etna. While it sits in the shadows of the volcano, the fertile ground is home to some spectacular vineyards, which grow many different varieties of grape. Catania boasts a number of beaches and the Lido Azzurro is one of its more exclusive beach clubs for families.

Can expats purchase property? See Palermo

15. Brasov, Romania

Average price for a 100m² apartment = $194,050.56

Brasov is everything you expect from a Transylvanian town: gothic spires, mediaeval gateways and baroque churches, all juxtaposed against an imposing Hollywood sign. The quirky city might be home to Dracula’s castle, but it is also the perfect starting point for a thrilling nature tour offering the chance to see brown bears in the wild.

Can expats purchase property? See Craiova

16. Constanta, Romania

Average price for a 100m² apartment

Constanta is a vibrant coastal city situated on Romania’s Black Sea coast. Founded in 600 BC, it is the oldest continually inhabited city within the country and also the largest port. There are a number of urban beaches within the city, the newest of which was widened recently and offers up 20 hectares of golden sands.

Can expats purchase property? See Craiova

17. Podgorica, Montenegro

Average price for a 100m² apartment

Podgorica is something of an enigma; despite being bombed more than 70 times during WWII many of its attractions are still standing, including Stara Varos, a 400 year old Ottoman town. The city is situated within easy reach of many coastal destinations on the Adriatic Sea and is famous for being home to the Ostrog Monastery, a popular pilgrimage site.

Can expats purchase property? Foreigners can purchase apartments with no restrictions. However if they are looking to purchase a house which contains a parcel of land, a lawyer will need to be consulted.

18. Timișoara, Romania

Average price for a 100m² apartment = $207,086.49

Timisoara is often referred to as Romania’s most beautiful city and is set to become the European Parliament’s Capital of Culture in 2023. It is considered the most westernised region of Romania, in part owing to its close proximity to both Vienna and Budapest. Don’t miss the chance to take a picture in Umbrella Street or explore the colourful buildings of Union Square.

Can expats purchase property? See Craiova

19. Osijek, Croatia

Average price for a 100m² apartment =$207,465.40

Osijek is the fourth largest city in Croatia and once a former Habspurg military base. Hungarian and Austrian influences are to be found in the city’s cuisine, from spicy pepper dishes to decadent desserts and pancakes. While the upper town features refined architecture, including the Croatian National Theatre and the Church of St Peter and Paul, just outside of the city Kopacki Rit is a bird-watcher’s paradise.

Can expats purchase property? EU Nationals have the same rights to purchase property as Croatian citizens do. Outside of the EU there are a few restrictions on who is able to buy property in Croatia. The UK has a reciprocity agreement with Croatia and citizens can purchase property providing that they seek consent from the Ministry of Foreign Affairs and only rent out their property through an approved company.

20. Banja Luka, Bosnia and Herzegovina

Average price for a 100m² apartment

In the midst of the densely forested Bosanka Krajina region of Bosnia and Herzegovina, you’ll come across Banja Luka, the country’s second largest city. The River Vrbas flows through the centre and takes its name from the many vrbas (willow) trees that line the banks. Banja Luka’s orthodox cathedral is an architectural icon renowned for its exquisite gold-detailed interior.

Can expats purchase property? See Mostar

From mediaeval cities to up-and-coming coastal resorts, and from bustling university hubs to towns offering a more traditional way of life, our 20 top-value destinations offer something for everyone.

Six of the top 20 cheapest places to buy property are to be found in Romania, and this is a fact that hasn’t escaped the notice of Jonathan Merry, travel expert at MoneyTransfers:

“Property investment in Romania hit a record of €1.25 billion in 2022, which is up 40% on previous years. While the majority of these investments focus around Bucharest, it is likely that the smaller cities will soon follow suit, and Romania is tipped to become the next property hotspot.”

With the cost of Romanian real estate about as low as it gets in Europe, this could be the ideal time to purchase property in the country. Following 2022’s record growth, Romania’s housing market has just started to cool down and as a result prices have stabilised, while Romania itself is thriving, boasting economic growth of 5.8% last year.

For those looking elsewhere and hoping for an investment, Burgas and Varna, are prime choices, and being situated on the Black Sea Coast could well become the next holiday hotspots for expats. Even those who would prefer to play it safe and stick to more established resorts can still pick up bargains in the beautiful Sicilian cities of Palermo or Catania.

Method

In order to ascertain the average price of an apartment in each of the 20 cities we sourced the average price per square metre for property from Numbeo and multiplied it by 100.

Data up to date as of 15.09.202