Real estate has always been a favorite playground for investors — but lately, a new trend has popped up: affluent Europeans snapping up properties in countries where prices are low, lifestyles are high, and returns look promising.
This goes beyond standard holiday homes. Instead, it’s related to hedging against volatile markets, diversifying portfolios, and in some cases, securing dual residency or even golden visas.
I first noticed this shift when I heard multiple ex-colleagues from my marketing days chatting about how their clients were exploring real estate deals abroad — especially in places where euros stretch further.
Below are 7 countries that keep coming up in those conversations, along with the reasons wealthy Europeans can’t resist parking their money there.
1. Portugal
Portugal isn’t a secret anymore.
Lisbon and Porto once ranked as some of Europe’s best-kept property secrets, but prices have risen as foreign investors poured in.
Even so, the country still offers relatively affordable housing compared to big European capitals — especially in smaller towns or along less-touristy stretches of the coast.
The bonus?
A mild climate, high quality of life, and solid infrastructure.
Many investors also jump at Portugal’s Golden Visa program, which offers residency to those who spend over a certain threshold on property.
That means enjoying ocean views while benefiting from an attractive route to EU residency. No wonder the word on Portugal’s property scene spread like wildfire.
2. Greece
Yes, you probably picture Greek islands and white-washed villas on Santorini — but there’s more to Greece’s property market than postcard-perfect holiday homes.
With the country’s economy having faced a rocky road in the past decade, property values took a dip, opening a door for savvy investors to snag properties at a fraction of Western Europe’s prices.
The Golden Visa scheme here is also a huge draw.
By investing in real estate above a set threshold (often cited around €250k), buyers get a five-year residency permit with minimal stay requirements.
That’s a sweet deal if you’re craving a slice of Mediterranean life — and maybe want the flexibility to rent it out to tourists when you’re not in town.
For many, it’s a best-of-both-worlds scenario: an affordable purchase with potential for strong rental income.
3. Bulgaria
If you’re looking for a place that’s still flying under the mainstream radar, Bulgaria might be it.
From the dynamic capital of Sofia to ski resort towns like Bansko and beach spots along the Black Sea coast, Bulgaria delivers low property prices and a surprisingly modern vibe.
It’s an EU member, which offers a layer of security for investors. But compared to many EU countries, the cost of living—and real estate — stays low.
That appeals to budget-oriented retirees, digital nomads, and property flippers alike.
I’ve known a few adventurous types who snagged apartments in Sofia for half the price they’d pay in major Western European cities.
For them, it’s a long-term bet that Bulgaria’s market will continue to expand as more people discover its perks.
4. Spain (but off the beaten path)
Spain isn’t typically labeled “affordable,” especially not in hot zones like Barcelona or Madrid.
But if you venture beyond the big cities or hyper-popular coastal strips, there’s some real value to be found.
Small towns in Andalusia or lesser-known parts of the Costa Blanca can still dish out properties at very competitive prices.
After the 2008 financial crisis, Spain’s housing market took a serious hit, and even though it’s recovered in many areas, there are still pockets where you can buy a property at a decent discount.
The climate, culture, and robust tourist infrastructure remain a huge lure, giving you rental potential if you don’t plan on living there full-time.
Not to mention Spain’s laid-back pace of life tends to charm Europeans craving sunshine and tapas for the long haul.
5. Montenegro
Wedged along the Adriatic Sea, Montenegro might sound like a niche choice, but it’s fast climbing the ranks of property investments.
Coastal towns like Kotor and Budva offer jaw-dropping sea views at significantly lower prices than, say, Croatia or Italy.
Plus, the country is on a path toward EU membership, which many believe will boost real estate values once it joins.
Montenegro also introduced a Citizenship by Investment program (though it’s time-bound and subject to changes).
That, paired with the scenic beauty — mountains, fjord-like bays, and medieval towns — turns heads among well-heeled Europeans eager for a second home.
If you love the idea of moody mountains meeting the sea, Montenegro might be worth a closer look.
6. Mexico
Yes, we’re hopping continents here.
Mexico has long been a favorite for North American retirees, but it’s now catching the eye of Europeans, too — particularly those seeking a warmer climate and a lower cost of living than you’ll find on Europe’s coasts.
Real estate can be incredibly affordable if you avoid tourist hot spots like Cancun. Even then, you can still find deals if you know where to look.
Cities like Mérida and Oaxaca have blossoming expat communities.
For Europeans, though, one factor to consider is the complexity of owning property in some coastal or border areas, as there are regulations requiring a bank trust (fideicomiso).
But those who navigate the legalities find that property in Mexico can yield both a comfortable lifestyle and a solid rental market if you’re near tourist attractions.
Plus, the flavor of life—culturally, culinarily—can be a big draw.
7. Georgia (the country)
Finally, tucked between Europe and Asia, Georgia is often overlooked by Europeans, but it’s gaining popularity among adventurous investors.
Tbilisi, the capital, offers surprisingly cosmopolitan living with relatively low real estate prices. Citizens of many countries can stay up to a year visa-free, making it convenient for extended stays or setting up a second base.
Georgia isn’t in the EU (yet), but it has been forging close ties, and many folks are betting on future growth.
Throw in the country’s legendary wine culture and stunning mountain landscapes, and it’s easy to see why some European buyers find it too intriguing to pass up.
If you’re comfortable with a bit more “frontier” vibe and a language barrier, it can be an excellent real estate pick that’s still largely under the radar.
Putting it all together
So why are wealthy Europeans flocking to these spots? It boils down to five core factors:
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Lower property prices than traditional European markets
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Attractive residency or citizenship pathways (Golden Visa schemes, easy stays, etc.)
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Potential rental demand—tourists or expats often flock to these scenic, culturally rich destinations
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Cost-effective lifestyles, where your euro stretches further for day-to-day expenses
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Long-term growth potential, especially in places on the cusp of broader international recognition
It’s a chance to diversify investments while enjoying everything from Mediterranean beaches and Adriatic sunsets to colonial charm and mountain hideaways.
Of course, do your research: each country has its quirks, legal hoops, and cultural nuances.
But if you’re open to broader horizons (and possibly an excuse to sip coffee with sea views or mountain backdrops), these seven countries might just be your next real estate adventure.
