9 affordable European cities for expat property purchases
9 affordable European cities for expat property purchases
The Expat Life: Affordable Real Estate in Europe
Embracing Expat Life
For many Americans, the allure of new adventures, better career opportunities, or simply a desire for greater affordability has led them to embrace expat life. However, this broader embrace of living abroad has caused real estate prices to skyrocket in some of the most popular international hotspots. Portugal, for example, recently sunset its golden visa program in an effort to curb the influx of wealthy outsiders who have driven up real estate prices.
But fear not, expat hopefuls! There are still pockets of affordable real estate to be found across Europe. Fintech company Money Transfers compiled a list of the least pricey European cities for expats looking to buy property, based on the average price per square meter. And guess what? Eastern European cities dominate the list, offering great opportunities for those willing to broaden their horizons.
Exploring the Least Pricey Cities
Money Transfers used data from Numbeo, a comparison website that provides crowdsourced summaries of the cost of living in major cities around the world. Numbeo relies on user-submitted expenses, including the average price per square meter for city-center apartments, making it a valuable resource for cross-city comparisons.
In order to determine the average price for a “generously sized apartment” of approximately 1,075 square feet, Money Transfers multiplied the average price per square meter from Numbeo by 100. All prices have been converted to US dollars.
The Affordable Champions
Let’s take a look at the affordable European cities that made the cut:
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| City | Average Price per Square Meter (USD) |
|---|---|
| Pristina, Kosovo | $313.52 |
| Skopje, North Macedonia | $348.56 |
| Nis, Serbia | $364.37 |
| Bitola, North Macedonia | $379.55 |
| Veliko Tarnovo, Bulgaria | $385.62 |
As we can see, Pristina, the capital of Kosovo, takes the crown for offering the most affordable real estate for expats. Skopje in North Macedonia and Nis in Serbia follow closely behind. It’s worth noting that cities in Ukraine and Russia were excluded from this list.
Beyond Real Estate Prices
While affordable real estate is an important factor for expats, it’s worth considering other aspects of living abroad as well. Each city has its own unique charm, cultural offerings, and job opportunities. It’s important to do thorough research and explore all possibilities before making the big move.
In conclusion, while expats have played a role in driving up real estate prices in certain European cities, there are still affordable pockets waiting to be discovered. Eastern European cities, with their rich history and cultural heritage, offer great opportunities for those seeking an affordable expat life. So, pack your bags and broaden your horizons – adventure awaits!
Note: All average prices per square meter have been converted to US dollars.
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