Where can I buy a house for 50k in Europe?

Have you been wondering: Where can I buy a house for 50k in Europe? You may want to give Portugal a chance.

Portugal is one of the best places to purchase property for sale in Europe under 50k. There are no restrictions on foreigners looking to buy a home in Portugal and, while property prices have been increasing in recent years, the country remains an excellent place purchase property for relocation to the country or as a lucrative investment.

It may surprise you, but it is possible to find cheap Portugal property under 50k. Keep reading, and we’ll give you a great overview of cheap houses for sale in Portugal under €50,000, including the best affordable regions in Portugal and the legal and financial aspects to consider before buying your dream European home.

Why buy houses for sale in Portugal under €50,000?

It’s no secret that Portugal is one of the most affordable countries in Europe. The country’s diverse landscapes cater to a range of lifestyles, including young families, digital nomads, and retirees. This, along with Portugal’s excellent quality of life, breathtaking views, and welcoming locals, has attracted expats and investors from all over the world.

Purchasing cheap property in Portugal under 50k creates the perfect opportunity for an investment or to build your dream home. You could buy an affordable fixer-upper to design your home to your taste or take advantage of the interest in Portuguese real estate and earn rental income.

It’s important to remember that, as demand for property in Portugal continues to outweigh supply, most cheap property in Portugal under 50k will be older and may need some renovations. It is quite rare to find a new property under €50,000, unless you get a good deal on prefab homes in Portugal.

The most affordable properties will also mainly be found in Portugal’s interior areas, mainly because these houses are less sought-after compared to the areas closer to the Ocean. Keep reading to discover the best areas in Portugal to find affordable homes.

What kind of homes are for sale in Portugal under 50K?

There are a variety of different property types under 50K for sale in Portugal. Below is a list of some of the most common types you will come across during your search:

• Casa or moradia: A detached home, some of which have a backyard or patio; most have a boundary wall with a front gate
• Casa geminada: A semi-detached house
• Condomínios or condos: Individual apartment units with common spaces.
• Quintas: Rustic houses or farms, usually located inland but can sometimes be found in suburban areas
• Terreno: Land (registered with the city hall for residential purposes) that can be bought to build a home

Whatever property type you are after, whether it is rustic land to build on or a farm for sale in Portugal, you will likely find properties matching your criteria. There are many cottages for sale under 50k in Portugal that, after some work, could prove to be the perfect home. And with a little bit of luck, you might even find a castle for sale in Portugal.

Key considerations when buying property for sale in Europe under 50k

When taking advantage of the affordable properties to be found in Portugal, there are some things to consider.

If you’re investing in a fixer-upper or rehabilitation homes for sale in Portugal, make sure that you are aware of any structural damage you may need to address.

It can be worth enlisting the services of a property surveyor in Portugal who can ensure that there are no structural issues to the interior or exterior. Check whether the property has road access to facilitate the movement of any builders and construction workers.

1. Renovation budget

Most properties under €50,000 in Portugal and wider Europe are older homes, often in need of structural repairs, new plumbing and electrics, insulation, and cosmetic upgrades. Even modest renovations can quickly exceed the purchase price, so it is wise to build in a generous contingency and assume costs will overrun your initial estimate.​

2. Bureaucracy and language

Buying in another country means navigating unfamiliar paperwork, permits, and local regulations, often in a language you do not speak fluently. Factor in the cost of professional support from a lawyer, fiscal representative, or buyer’s agent who can help with planning permissions, utility connections, and translations so that nothing important is lost in the process.​

3. Foreign ownership rules

While Portugal places no general restrictions on foreign buyers, some European countries have limits on what non-residents or non-EU citizens can purchase, particularly when it comes to agricultural or protected land. Before falling in love with a bargain property, check whether there are any ownership caps, visa or residency requirements, or special approvals needed for foreigners.​

4. Currency risk

If your income and savings are in a different currency from the property you are buying, exchange rate movements can make your home significantly more expensive (or cheaper) by the time you pay the full amount. Using a specialist foreign exchange provider, fixing a rate in advance, or staggering transfers can help manage this risk and protect your renovation budget.​

5. Ongoing costs

A low purchase price does not mean low running costs: You will still need to account for property taxes, notary and registration fees, utilities, insurance, and any condominium or community charges. In Portugal, for example, buyers also pay IMT property transfer tax, Stamp Duty at the time of purchase, plus annual IMI municipal property tax, all of which should be built into your long-term budget from the start.

Alternatives to Buy Property in Portugal for Under €50,000

If you are open to looking beyond cheap coastal properties for sale in Portugal, there are a handful of European markets where small apartments, older village houses, or renovation projects can still be found around the €50,000 mark. Each comes with its own legal, cultural, and practical considerations, so careful research and local advice are essential before you commit.

Romania

Romania remains one of Europe’s most affordable housing markets, with smaller apartments in secondary cities and provincial capitals often listed well below Western European prices. Towns such as Alba Iulia or smaller neighborhoods on the outskirts of Bucharest can offer compact apartments within, or close to, a €50,000 budget, especially in older buildings that may require cosmetic updates.​

Italy

Italy’s famous “€1 homes” schemes in parts of Southern Italy and Sicily can be tempting, but buyers should treat the purchase price as a symbolic entry point rather than the real cost. Properties typically demand substantial renovation and compliance with strict timelines and planning rules, so setting aside in the region of €50,000 for works, fees, and upgrades is often more realistic than expecting a turnkey bargain.​

Albania

Albania offers some of the lowest real estate prices on the continent, with studios and one-bedroom apartments in secondary cities often ranging between €35,000 and €50,000. In coastal hubs such as Durrës or Vlora, you can still find compact apartments within this budget, particularly in older blocks or areas set back from the beach, making Albania a contender for those seeking a low-cost base by the sea.​

Montenegro

While prime coastal spots like Budva now command higher prices, it is still possible to find smaller apartments or older properties near the coast and in inland towns close to the €50,000 range. Importantly, owning habitable real estate in Montenegro can be used as a basis to apply for a temporary residence permit, giving buyers a potential residency route as well as a pied-à-terre.​

Other options in Europe

Beyond these markets, you may find individual opportunities in countries such as Croatia, Spain, Bulgaria, or Hungary, especially when it comes to bank repossessions, inherited properties, or homes in shrinking rural communities. These deals are typically highly specific, competitive, and often renovation-heavy, so working with a trusted local agent and being ready to act quickly can make all the difference when they appear.

Taking Your First Steps to Purchasing Affordable Houses for Sale in Portugal

There are many ways to find cheap property in Portugal under 50K, but the best way to start your house hunt is to research extensively. Research potential properties and areas on real estate online platforms to get an overview of the Portugal real estate market, such as prices, types of properties, and what’s on offer.

After you understand the market, we recommend seeking expert assistance from a buyer’s agent like Goldcrest to narrow down properties that match your requirements. Buyer’s agents have access to exclusive properties that are not advertised on the market and can ensure you get the best price possible for your purchase.

If you are interested in buying property in Portugal, we are here to help. As a local buyer’s agent, we can assist you with your buy, providing a tailored service focused on your needs, whether you are looking for a country home for sale in Portugal or a villa with ocean views. Chat to our team to see how we can help.