Cheapest property prices in Europe

Property prices

Housing prices rose by 4.0% in both the euro area and the EU. According to Eurostat, the highest annual increases in house prices in the first quarter of 2019 were recorded in Hungary (+11.3%), Czechia (+9.4%) and Portugal (+9.2%), while prices fell in Italy (-0.8%).

Turkey and Montenegro have citizenship by investment schemes with the cheapest prevailing property prices, making it attractive to foreign investors.

Greece, Spain and Portugal have the most popular golden visa schemes in Europe

Greece has lower property prices than that of Turkey in terms of square meter. For example, a 100 square meter apartment only costs €140,000 in Montenegro which is three times less than Greece

  • Turkey‘s housing market continues to weaken, amidst a weak currency (the lira), record high inflation, and political conflict with the US. Nationwide residential property prices fell by 13.58% during the year to Q1 2019
  • Montenegro’s house prices are now falling sharply, mainly because Russian buyers have stayed away. The price of new dwellings fell by 12.61% during the year to Q1 2019, worse than the previous year’s 3.62% drop. House prices fell 7.39% during the latest quarter. The economy is projected to expand by 2.8% this year, the lowest growth in five years.
  • Portugal’s housing market continues to grow stronger, fuelled by surging demand as well as improved economic conditions. Property prices in Portugal rose by 5.96% during the year to Q1 2019, up from y-o-y increases of 5.39% in Q4 2018
  • Malta’s housing market is growing at breakneck speed, buoyed by its very strong economy, coupled with the introduction of the Individual Investor Programme (IIP) and stamp duty exemption for first-time buyers. Residential property prices rose by 9.36% during the year to Q1 2019

Property prices in Europe

Country Average Prices / sq.meter
Monaco € 44,522
UK € 21,179
France € 12,796
Russia € 11,866
Austria € 11,559
Switzerland € 11,476
Norway € 8,281
Sweden € 6,991
Netherlands € 6,902
Finland € 6,609
Italy € 6,589
Czech Rep. € 6,505
Germany € 5,907
Spain € 4,978
Luxembourg € 4,605
Turkey € 4,581
Malta € 4,576
Denmark € 4,279
Portugal € 3,830
Slovenia € 3,657
Greece € 3,619
Estonia € 3,190
Belgium € 3,171
Andorra € 2,915
Slovak Rep. € 2,911
Ukraine € 2,807
Poland € 2,793
Latvia € 2,789
Hungary € 2,515
Serbia € 2,239
Lithuania € 2,163
Croatia € 1,978
Cyprus € 1,678
Bulgaria € 1,663
Romania € 1,591
Montenegro € 1,400
Macedonia € 1,134
Moldova € 965

Source: Global property guide

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