15 Affordable Destinations That Make Owning Property Abroad Possible
Thinking about owning property abroad but worried about the cost? You’re not alone. While popular destinations often seem out of budget, there are plenty of places where real estate is both accessible and affordable. So, keep reading to discover 15 international locations that offer excellent opportunities to invest in property without overspending.
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1. Bulgaria
If you’re on the hunt for affordable properties in Europe, Bulgaria should be at the top of your list. In many small towns, you can find apartments starting at around $10,000–$15,000. Of course, these homes need some TLC, but renovation costs in Bulgaria are relatively low, typically ranging from $5,000–$15,000 for basic updates, depending on the property’s condition.
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2. Italy
With Italy’s €1 ($1.12) home program, many small towns are offering dilapidated properties for next to nothing. Towns like Motta D’Affermo sell homes for just €1, provided you commit to renovating them. But remember, you’ll need to meet renovation deadlines and make the house livable.
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3. Northern Cyprus
While Cyprus is often seen as an expensive real estate market, Northern Cyprus offers an affordable alternative. The average cost per square foot in places like Kyrenia or Famagusta is around $118. Plus, Northern Cyprus provides buyers a peaceful and relaxed environment, along with pristine beaches.
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4. Brazil
For an affordable coastal retreat, Fortaleza, a bustling city on the northeastern coast, features apartments between $62,000 and $82,000 for a 50-square-meter-unit. Whether you’re looking to settle down in a city or buy a second home for vacations, Brazil delivers quality and affordability in one beautiful package.
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5. Philippines
Cities like Davao offer modern condos (50 to 70 square meters) starting at just $77,880, and properties in smaller towns can be found for under $50,000. With its friendly locals and beautiful backdrops, the Philippines provides an attractive option for retirees or anyone seeking a relaxed lifestyle.
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6. Thailand
Thailand is a paradise for tourists and property buyers. In many places like Chiang Mai and Chiang Rai, you can find small and old homes starting from $30,000, while modern apartments typically cost around $50,000. It’s important to note that while foreigners can own condominiums outright, owning land is restricted—most opt for 30-year renewable lease agreements when purchasing houses.
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7. Turkey
On the Turkish Riviera, you can find beautiful homes with sea views for almost $40,000. That’s right, a home with an ocean breeze in your backyard, and it won’t cost you an arm and a leg. Turkey’s rich history, combined with its stunning coastline and low property prices, makes it a good purchase.
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8. Nicaragua
Nicaragua is considered one of the most affordable countries in Central America when it comes to real estate. Its major cities, like Managua, have properties priced between $603 and $1,303 per square meter. But if you venture outside the urban centers, you’ll find even more affordable options.
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9. Montenegro
With prices around $164 to $202 per square foot, Montenegro is one of the most affordable places along the Adriatic coast. The best part? It’s still a hidden gem, so you won’t have to fight hordes of tourists while trying to enjoy your slice of paradise.
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10. Romania
Romania’s affordable real estate market has flown under the radar for years. In smaller towns, you can find great properties for a fraction of the cost of major cities in Western Europe. Furthermore, property taxes in Romania are low—around 0.3% to 1% annually.
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11. Paraguay
With properties priced at just $1,051 per square meter in Asuncion, Paraguay is an easy way to buy into the South American market. Here, property taxes are low, usually around 1% annually, and the country’s relaxed property laws make it easy to purchase.
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12. Ecuador
In Cuenca, a popular city for expats, you can find homes over 185 square meters at around $240,000 to $300,000, with smaller apartments available at lower prices. Interestingly, the cost of living is also low, and the welcoming expat community adds to the country’s charm.
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13. Egypt
Properties in Egypt’s Hurghada go for about $913 per square meter, making it easy to own a vacation home near the Red Sea. With its rich history, ancient monuments, and fantastic weather, Egypt offers a lifestyle steeped in culture but without the high price tag.
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14. Serbia
Serbia is a gem in Eastern Europe. Here, cities like Belgrade or Novi Sad provide properties starting as low as $50,000. The country is filled with history, culture, and natural beauty, with plenty of green spaces, rivers, and mountains to explore.
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15. Colombia
In Colombia, cities like Medellín provide real estate starting around $1,518 per square meter, with a typical 70–100-square-meter apartment costing around $106,000 to $152,000. The affordability, combined with Colombia’s growing expat community, makes it an ideal choice for those looking to invest in real estate abroad.
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