1. Colombia
Colombia offers some of the cheapest real estate in the world. The average sale price for a property in Colombia is approximately Col$ 5.46 million ($1,316), with an average price per square meter at Col$ 275,000 ($66.28). This price is relatively cheaper than the US, which had an average home price of $495,100 in 2023. If you are looking for homes for cheap offers, you can check for cheap properties in Colombia.
2. The Philippines
The Philippines offers the cheapest real estate in the world, and its thrust for tourism and economic development encourages more foreigners to visit and invest in the country. The Philippines offers the cheapest homes in the world, with foreigners preferring buying condominium units in cities nationwide. The average price for condos in Metro Manila, the capital city, is ₱ 10.14 million ($181,063). The average list price for condos in rising cities like Cebu and Davao is ₱ 6.85 million ($122,224) and ₱ 4.45 million ($79,483), respectively.
3. Italy
Italy is one of the countries with the cheapest real estate in the world. Regions away from the capital offer cheap real estate; one is Calabria, which offers many of the cheapest beachfront properties in the world. Despite the renowned Calabrian coastline, prices in Calabria are still very affordable compared to their northern counterparts. Italy is the cheapest country in Europe to buy a house at an average price of €1,876 ($2,084) per square meter. The average housing price in Calabria is €1,065 ($1,183)per square meter, €1,074 ($1,193) in Piedmont, and €1,476 ($1,640) in Sicily.
4. Paraguay
Buying real estate in Paraguay is favorable for foreigners because the law allows foreigners to buy properties, including land. Moreover, Paraguay has the cheapest real estate in the world, with apartments priced at ₲ 8.41 million ($1,085) per square meter located within the city center and ₲ 6.25 million ($807) outside the city center.
5. Nicaragua
Nicaragua allows full foreign ownership of land and other real estate properties. It is considered the cheapest country in South America to buy a house due to its affordable prices and attractive properties. Nicaragua’s real estate market is experiencing a surge in demand, most significant for residential properties. Moreover, Nicaragua has the cheapest real estate in the world, with an average price of around $603 to $1303 per square meter in major city centers and $402 to $1002 outside urban areas of Nicaragua.
6. Bulgaria
Bulgaria’s real estate industry is well-known for its affordable residential properties. Bulgaria has the cheapest real estate in the world, with affordable prices for apartments and houses for sale and rent. The average price of an apartment is €1,398 ($1,553) per square meter, and for houses, €782 ($869) per square meter. Bulgaria’s real estate investments are convenient because the prices are substantially cheaper than those of other European countries.
7. Brazil
Foreigners can freely purchase property in Brazil, regardless of residency or quantity. They can buy land and properties at a fair price since Brazil has the cheapest real estate in the world. The average price of an apartment for sale is R$ 7,842 ($1,408) per square meter and R$ 5,245 ($942) per square meter for a house. Moreover, Brazil is one of the cheapest countries in which to build a house. Constructing a house in Brazil will cost an average of R$ 2,045 ($367) per square meter.
8. Moldova
The Republic of Moldova is located in central Europe, bordering Ukraine and Romania. The country has a relatively low population density, ample space for new residential developments, and offers the cheapest real estate in the world. This has attracted both local and international developers to invest in the market, leading to an increase in the supply of residential properties. Chisinau, the country’s capital, offers the cheapest apartments in the world, valued at L 27,854 ($1,601) per square meter for apartments inside the city center and L 18,998 ($1,092) per square meter for apartments outside the city.
9. Egypt
Egypt has the cheapest real estate in the world and is becoming attractive to investors due to its strategic location, affordable real estate prices, and growing economy. In April 2024, Egypt’s home prices were down 0.72% compared to last year and sold for an average price of $275,000. Lower wages and construction costs make Egypt the cheapest country in Africa to buy a house. The average house price per square meter is E£ 46,116 ($952) in Hurghada and E£ 54,501 ($1,125) in Red Sea Governate.
10. Indonesia
Indonesia is known for its diverse tourist attractions and an endless list of wonderful tourist places. The average cost of a house in Indonesia ranges from IDR 500 million ($32,500) to IDR 2 billion ($130,000), although property prices can vary significantly based on the area and property type. Moreover, the construction cost of a villa in Indonesia ranges from IDR 7.5 million ($488) to IDR 23 million ($1,495) million per square meter. These conditions make Indonesia one of the countries with the cheapest real estate in the world.
Where is the cheapest place to buy a house?
The list above shows some of the countries that offer cheap real estate, but the cheapest countries to buy a house are Colombia, Italy, Brazil, and Egypt. These countries offer the cheapest houses in the world, and their home construction costs are relatively cheaper than other countries. Check out these countries’ residential properties to buy homes for cheap offers.
What are the cheapest and safest places to live in the world?
If you are looking for the cheapest and safest places to live in the world, you must check Italy, Bulgaria, and Egypt. Italy is a first-world country that is relatively safe and very tourist-friendly. Crime is very low in Bulgaria, a developed country with minimal pickpocketing and petty theft occurrences. Moreover, Egypt is nearly crime-free despite being a developing country. These countries offer conditions for the cheapest real estate in the world and a safe place to live.
What is the cheapest country to build a house?
The cheapest countries in which to build a house are Brazil and Egypt. Constructing a home in Brazil will cost an average of R$ 2,045 ($367) per square meter, while the cost of house construction in Egypt is E£ 1,900 ($39.24) per square foot. The cost of building a house in these countries varies greatly depending on the cost of living, labor wages, and material costs.
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Frequently Asked Questions (FAQs)
What pitfalls to avoid when buying cheap property abroad?
The pitfalls to avoid when buying cheap property abroad are the scams. Foreigners must do intensive research on cheap properties and double-check their legitimacy to avoid scams.
Where to find the cheapest apartments in the world to buy?
The cheapest apartments in the world to buy are found in countries like Paraguay, Brazil, and Bulgaria. Apartments offered in these countries are cheaper and are considered the cheapest homes in the world.
Where can foreigners buy cheap property abroad for under 10K?
Foreigners can buy cheap property under 10K in Colombia, Nicaragua, and Paraguay. There are also regions in rural areas of Italy where you can buy old homes for cheap.
What country has the cheapest houses in the world?
The country that has the cheapest houses in the world is Italy. This is surprising because Italy is a first-world European country with cheap houses for foreigners to buy.
What is the cheapest place to buy a vacation home in the world?
The cheapest places to buy vacation homes in the world are Italy, Brazil, Indonesia, and the Philippines. These countries have a list of cheap properties in many of their tourist destinations that you can choose from, including the mountains and beaches.
What is the cheapest beachfront property in the world?
The cheapest beachfront property in the world is found in Italy. It is one of the cheapest countries to buy a house at an average price of ₱ 1,876 ($33.49) per square meter.
2 Responses
Hello, I’d love to talk with someone more about buying property in Italy. My wife and I have been talking about it for years. We plan to visit Italy spring of 2025 in search of land or a home.
That’s exciting! I’d be happy to assist you with more information on buying property in Italy and guide you through the process when you’re ready. Your upcoming visit in spring 2025 will be a great opportunity to explore properties firsthand. You can email us at [email protected] to discuss your goals and preferences.