Cheapest property prices in Europe

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

Source: Global property guide