Moving abroad starts with figures. In the UK, the average house now sits at £292,000 according to the Office for National Statistics. So if that kind of figure makes you sick enough that you want to move out of the UK altogether, your next question is “Where can you buy cheap property abroad under 50K?
Compared to that earlier figure, this obviously sounds unrealistic. But the answer is yes – it just involves picking the right market. Let’s unpack how that £50,000 can still get you your dream home without turning into a money pit.
For context, a semi-detached house in the North of England goes for more than five times that sum. Yet in parts of rural Bulgaria, for instance, €300 per square metre is still common. That means a 90-square-metre cottage can be yours for about €27,000.
Central Portugal is fairly similar: Penamacor averages €417/m², which makes two-floor village homes plausible for roughly €40,000.
Needless to say, you’ve also got to factor in fees and add a modest new roof to your budget when you convert those euros into pounds. But the headline figure can definitely still stay below £50k.
The catch is that you’re trading big-city buzz for fresh air and countryside. You’d have to drive to the nearest hospital, rather than it being on your doorstep. That’s a compromise that suits some, not all.
So TL;DR, you can still stay in Europe for a property for sale below 50K.
Are you going to have to live on the other side of the world to get one of these properties?
Low purchase taxes and cheap labour make Bulgaria a haven for renovation projects. Expect stone cottages on the ground floor, plus a storage room and an attic that’s perfect for conversion jobs.
Villages near Veliko Tarnovo are just an hour from a national park, so you’ve got easy access to lakes and trails if you like hiking. Rural internet here has definitely gotten better over the years, but things like winter heating bills can be expensive, which means you’ve got to insulate the house early.
Castelo Branco holds entire streets of cheap houses where you’ll have your dinner under wooden beams in a snug dining area. Then you can walk to a café that charges €1 for an espresso.
Roads are tarmacked here, so easy access to Spain’s border towns is a bonus. Just make sure you check local regulations on septic tanks because the rules got tightened in 2024.
In Thessaly and inland Crete, you’ll find abandoned stonework that faces olive groves. Catch the sunrise on a first-floor balcony, watch the sundown on your top-floor roof terrace.
Yes, Italian communes keep listing property for sale at token prices, but that doesn’t always include long timelines and restoration plans. So you’ve definitely got to think about your tolerance for long, drawn-out projects if your dream is living in a charming village in Tuscany.
Legal checks abroad differ a bit from UK conveyances, so here’s a two-step process that keeps things hassle-free:
Your solicitor (use one who speaks the local language – our team at Upscore can help connect you with one) pulls land-registry maps to confirm boundaries. If the plot borders a national park, there might be a few extra rules that stop you from making any extensions.
A quick call to the water board and grid operator tells you if the mains reach the house. In Bulgaria, for example, some plots rely on boreholes. Portugal’s countryside, on the other hand, often still uses septic tanks.
Restoring stone renders or swapping clay tiles for a new roof can practically double your initial cost, but you’ve got to keep in mind that sweat equity often lifts value well above spend.
However, builders book up fast in holiday regions, and language gaps can cause even more issues. So make sure you budget at least 25% contingency and hold funds until you pass a few key milestones.
If you plan only light cosmetic work so you can treat it as a short-term investment for renting out, aim for markets where expat demand remains strong – Greek islands and the Algarve, for instance.
The line’s a bit blurry here. Some investors bank on rental income; others want a bolthole with olives and Wi-Fi. So these are the three main questions you’ll want to ask yourself:
Will Potential Buyers Find the Location Convenient? A peaceful location is great for retirees, but may deter digital nomads without fibre broadband.
Do Local Taxes Erode Your Returns? Portugal grants non-habitual resident relief, but Bulgaria levies a flat 10% income tax on rents.
Is Resale Realistic? Markets under 50K are pretty thin, so accept longer timeframes to find a new owner.
Treating the purchase as an ideal investment means you’ve got to be thinking about yields instead of just sunsets.
Set a Clear Budget in Pounds: Fix your £50,000 in a multicurrency account where you can pounce after rates improve.
Shortlist and View: Schedule two viewing trips. You’ll not see issues like damp walls over a video call.
Hire Dual-Language Professionals: A lawyer plus translator avoids surprises that get buried in clauses. Again, we’d be thrilled to put you in contact with local lenders who speak great English here at Upscore.
Secure the Deposit Safely: Escrow is better than direct transfers to sellers, especially in cash economies.
Insure Immediately: Policies often hinge on occupancy, so tell the provider if you’ll only visit twice a year.
So, can you buy cheap property abroad for under 50K? Absolutely – if you’re ready for paperwork and the occasional issue you’ve got to work around.
It’s undoubtedly going to be a long process that requires a lot of time and effort, but you’ll quickly see the rewards once it’s all up and running, especially if you keep that £292,000 figure for an average UK house in your head the whole time.
Tracking currency swings and dealing with paperwork in a foreign country can be a hassle without the right people on your team. Get all the support you need with Upscore’s Finance Passport!
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