Cheapest Countries to Invest in Real Estate in 2023

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00:00 Intro

Today we are going to talk about the cheapest countries to invest in real estate. You may want to invest in a property to run an airbnb, or to find long term tenants, you can also choose to invest in property to buy, renovate and resell the property.

01:08 Country List

Montenegro

Montenegro is the first country in our list today, and actually it is one that I see most frequently here.
Montenegro has some of the cheapest property prices in Europe, but the prices vary wildly around the country. We can basically divide the country in three regions regarding prices.
The coast.
The capital.
The rest of the country.
Montenegro is likely to join the European Union in the coming years, bringing more stability and less corruption to the country in the long term, which then, obviously, attract more investment and qualified expats.

Albania

Albania, which is Montenegro’s neighbor to the South, is, in my opinion, one of the best markets to invest in Europe right now. Let’s see why?
In Saranda for example in the South of the country, there are studio flats available for as little as 30 thousand euros. Saranda is just a short ferry right from the Greek island of Corfu, where real estate can easily cost thrice as much.

Cambodia

Cambodia is a country that you may want to consider for a property investment if you want to focus in Southeast Asia.
Cambodia has a striking advantage compared to most European countries and even many Latin American countries: its natural population growth. Only this fact will represent a guaranteed demand for real estate in the main cities throughout the country, while in Europe, even in bigger cities, this cannot be guaranteed considering the natural growth rate.
There are some pretty modern projects in Cambodia, notably in Phnom Penh, that are definitely worth checking.
The price per square meter in the Cambodian capital currently hovers around 2400 USD for the most central parts of the city.

Romania

Romania is another option for those to invest in real estate in the European Union, at a relative low cost.
Although Romania is a full EU member, it is usually ignored by investors and digital nomads for a number of reasons.
First of all, Romania is still not part of the Schengen free movement area. So, whenever you will be traveling from Romania to any other European country, you will actually have your passport checked.
Apart from these reasons, Romania can be an excellent place to invest in real estate. The capital Bucharest, with almost 2 million inhabitants, is one of the cheapest capitals in Europe, with a price per square meter hovering around 2300 dollars in its central district.

Georgia

Georgia is another country that is worth checking out if you want to invest in real estate on the cheap.
I’ve made a few videos about Georgia so you probably know that in the past two decades Georgia became a business hub in its region, and one of the best ranked countries in the Ease of doing business rank by the world bank.
Prices overall per square feet or meter are low in Georgia, compared to most countries in Europe as well as many countries in the Middle East.
The price per square meter in the capital Tblisi is currently hovering around 1800 dollars, but it is not uncommon to find properties for cheaper prices especially in the outskirts of the city.

Turkey

Turkey is a country that could not be ignored in this list, as it has some pretty affordable real estate all around the country.
Turkey, which now is officially named Turkiye, has affordable properties for all types of buyers. Do you own a modern condo in a bustling area of a large city? Or maybe you want a countryside property, or even a studio by the sea? You can find all of this in Turkey for a fraction of what it costs virtually anywhere in the European Union and definitely way less than anything similar in the United States.

Hungary - DONE

Hungary is the last country in our list today, and the reason why Hungary is here is because it is in a very special situation in terms of the property market.

First, the Hungarian economy and politics
Secondly, the Hungarian currency
The Hungarian location (tourism demand)
Higher risk (political, economic)

Prices per square meter in the capital Budapest hover around 2500 euros per square meter.
If you wander beyond Budapest you can definitely get much better deals.
Finally, it is relatively easy to get a residence permit in Hungary by starting a company to manage your real estate, an opportunity which is not available in most EU countries.