Europe is definitely not the cheapest continent for property, but it doesn’t mean there aren’t good deals out there — it’s just a matter of finding them. Granted, with a budget of £55,000, you won’t find anything in major metropolitan city like Paris or London, but it can get you a small studio or a decent sized
1. Spain — Costa Blanca
Size: 700 sq ft
Estimated total bill (incl. taxes & fees): £54,970
Property for sale in Spain can be relatively cheap depending on the “Costa” (coast) and how close it is to the sea. The Costa Blanca, developed in the heyday of Spanish tourism and British property buying, has resale studios and
The Costa Blanca spans 150 miles so it’s worthwhile getting to know the region, especially since there is a strong distinction between the North and South. For example, the northern half has smaller villages and richer buyers, so prices are higher. In the South, however, they are actively building, nightlife is booming and prices are lower.
The seaside town of Torrevieja is a great place to start the hunt. It’s just 30 miles from Alicante and its international airport, which is served by major
When buying a home in Spain, you should factor in
You can buy property for under £55,000, even £31,000 if you look for it. What you find will depend on the area. Take the Costa Blanca for example, you may find a decent property there for this price, but in Barcelona, it is quite impossible to find anything under £70,000. Even then, it would be in a dodgy area with high crime rates or something that needs complete renovation. Last but not least, if you do plan on buying cheap property in Spain, always check that any mortgage and debts linked to the house have been paid off.
2. Bulgaria — Bansko
Size: 800 sq ft
Estimated total bill (incl. taxes & fees): £49,244
Bulgaria is yet another Eastern European country that is not particularly famous on the holiday or property circuit. This big country has a Black Sea coast with resort towns like Varna that have a distinct local feel. This
At the moment, few people are aware of Bulgaria’s ski slopes, some of the cheapest in Europe, but they are slowly gaining in popularity. Bansko, a ski resort in the Pirin Mountains, is one of these. In fact, it is the country’s best destination for winter sports if you ask the locals. With many bars and ancient castles to entertain visitors and residents, it is both a ski resort and relaxing place to spend the summer.
Bansko has mix of modern
A modern 800 sq ft
3. Montengro — Budva
Size: 430 sq ft
Estimated total bill (incl. taxes & fees): £53,960
Montenegro is little explored land, overshadowed by holiday hotspot Croatia to the North. And unjustly so! This country has many spectacular landscapes that combine crystalline Adriatic shores with beautiful, untouched mountain slopes. Flats in Montenegro are cheap because it’s not famous.
The price of
Budva is a good target zone for a small budget buyer. It’s close to the Tivat International Airport (15 miles) and there are lots of nice beaches in the area. Not to mention that Sveti Stefan is just 2.5 miles down the road.
In Montenegro, there is a real estate transfer tax of 3%, notary fees (about £230) and you’ll need a lawyer to do the due diligence
Budva is definitely the most popular destination for our clients. The city is always busy, making it a great place to rent out the property for holidaymakers or
long-termtenants if needs be. I personally advise buyers to check out Becici, a suburb of Budva, where most of the hotels are located. It has a great sandy beach with sunbeds and parasols. Mainly, it’s just a 5-mindrive to the Old Town with a peaceful and relaxing atmosphere and a lot of new homes for sale at reasonable prices.
4. Greece — Halkidiki
Size: 700 sq ft
Estimated total bill (incl. taxes & fees): £54,737
Greece is arguably Europe’s most beautiful country, as well as the homeland of science, philosophy, medicine and democracy. Flying over the
There are many famous locations for holidaymakers and homebuyers that cater to all tastes and experiences from partying hard to relaxing in the sun whilst sipping on the local wine. Thessaloniki, for example, is the second largest city in Greece after Athens and it was named one of the top global destinations worldwide by the National Geographic in 2013.
A 700 sq ft
5. Czech Republic — Karlovy Vary
Size: 750 sq ft
Estimated total bill (incl. taxes & fees): £42,638
The Czech Republic is magnificent landlocked country that bubbles with beer, mountains and healing springs. The country’s capital, Prague, is by far the most popular tourist destination. It is known as the city of 1,000 spires and, despite the passing of time and civilisations through its walls, it has maintained a resolutely historic atmosphere.
During the summer, crowds flock to the many musical and cultural events and, during the winter, there are plenty of ski resorts to keep occupied. Until recently, the beautiful spa town of Karlovy Vary (Karlsbad) was mostly famous among Russian tourists who, in light of the economic crisis at home, have started selling off their property.
It is through this town that runs the Tepla River, which has naturally warm waters, fed by 300 local springs that flow beneath Karlovy Vary. There is easy access by train from Prague, where the
A 750 sq ft
|Anastasia Keiko, Tranio sales manager for the Czech Republic||The market in Karlovy Vary is very volatile at the moment. Not so long ago, it was very popular among CIS buyers, who practically formed the demand for homes here, but the crisis there has changed that. Prices have fallen since then and now there are a lot of buyers from European countries, China and Czech Republic itself because property prices are attractive and it’s a good time to buy.|
*The transfer tax is technically paid the seller (who increases the property price accordingly) but may be moved to the seller very soon (draft law in parliament).