What EUR 200,000 buys in Bulgaria, Georgia, Turkey, Montenegro, Cyprus, Greece, Portugal and Spain: area in m2, rental angle, residence thresholds and the main risk.
At EUR 200,000 the question changes from "what can I afford" to "what do I want it for". The same sum buys a large flat in Georgia or Turkey, a two-bedroom flat in Bulgaria or Cyprus, and a one-bedroom in Lisbon or Barcelona. A few residence thresholds also come into range. This page compares eight markets using only figures from our own country price guides (dated October 2026) and shows the arithmetic. It is not a list of offers, and we do not promise availability. Italy is not repeated here; see Italy: prices and buying costs, where the national average of about EUR 1,903 per m² would give roughly 95 m² on the same arithmetic.
How to read the numbers
Take EUR 200,000 and subtract about 10% for taxes, notary and fees. The real share ranges from about 5% to 15% by country (Cyprus new builds can differ because of VAT), so about EUR 180,000 (EUR 170,000 to 190,000) is left for the property. Divide by a price per square metre to get the area. The square metres are illustrative arithmetic, not a quote. Per-m² figures are asking prices or citywide averages from our guides; prime districts cost far more. Georgian prices are in dollars and for round numbers we treat one dollar as roughly one euro; check the real rate. Residence thresholds are quoted as reported in our guides and can change before you apply. For context see property prices per m² by country.
Bulgaria: a two-bedroom flat or a premium one-bedroom
Sofia at about EUR 2,680 per m² citywide gives roughly 67 m². The premium districts of Iztok and Lozenets (about EUR 3,500 to 4,100) give about 44 to 51 m², while quality resort complexes at about EUR 1,200 to 2,000 give about 90 to 150 m². Buyer costs are reported at roughly 4% to 8%; Sofia's transfer tax is 3%. Rental angle: Sofia about 4.2% gross on average, Burgas about 5.1% to 5.3%, with seasonal and lower net income on the coast. Main risk: resort liquidity and building fees. Residence by investment needs about EUR 306,775, so this budget does not reach it. See Bulgaria: prices and buying costs.
Georgia: a large flat, and the residence threshold
Tbilisi new builds average about USD 1,314 to 1,331 per m² (Colliers, 2026), roughly 135 m² on our round arithmetic; in the prime Mtatsminda district, quoted by one agency at up to about USD 2,900, it is nearer 62 m². An agency snapshot puts a three-bedroom in Tbilisi at about USD 172,000 and a one-bedroom in Vake at about USD 183,000. Our guide reports a USD 150,000 threshold, valued by a certified appraiser rather than by the contract price, for a short-term residence permit, and suggests budgeting USD 155,000 to 160,000; a purchase at this budget would be above it, but the authorities decide, not the purchase. Rental angle: a headline 7% to 8% gross, Batumi nearer 2% to 4% net. Main risk: oversupply in Batumi and finishing costs. See Georgia: residence permit through property and prices and buying costs.
Turkey: a large flat, near the residence threshold
Istanbul's citywide figure of about EUR 1,100 to 1,200 per m² gives roughly 150 to 165 m², but that average spans all ages and districts; on the prime coast the June 2026 valuation report put Bodrum at about EUR 4,600 to 5,600, which gives only about 32 to 39 m². Our guide reports a residence permit for a residential purchase with a title-deed price of at least USD 200,000, so EUR 200,000 is close to that line; the dollar value depends on the rate on the deed date, and the valuation report sets a floor. Citizenship needs USD 400,000. Title-deed tax is 4%. Rental angle: roughly 6% to 8% gross in lira. Main risk: the lira and inflation, with prices down about 6.2% in real terms in the year to August 2026. See Turkey: golden visa and prices and buying costs.
Montenegro: a coastal flat
Podgorica at about EUR 2,324 per m² gives roughly 77 m². Modern completed complexes in Budva (about EUR 3,200 to 3,800) give about 47 to 56 m², and Tivat (about EUR 3,000 to 7,000, with Porto Montenegro at the top) about 26 to 60 m². A resale adds roughly 5% to 8%, and sources disagree on whether transfer tax is a flat 3% or a progressive scale, so ask a lawyer. Rental angle: Podgorica about 5.15% gross; the coast is a summer market with about 56% average occupancy in 2025 (Airbtics). Main risk: seasonality and tax uncertainty. Our guide reports residence on property with a taxable value of at least EUR 150,000, assessed by the Tax Authority rather than set by your price; EU citizens are exempt. See Montenegro: residence through property.
Cyprus: Larnaca or Paphos, with VAT in mind
Larnaca asks about EUR 2,000 to 3,900 per m² (roughly 46 to 90 m²), Paphos EUR 2,800 to 4,500 (about 40 to 64 m²), Nicosia EUR 1,700 to 2,700 (about 67 to 106 m²) and Limassol from about EUR 4,000 (up to about 45 m²). Transaction averages for apartments in the first half of 2026 were about EUR 262,000 in Paphos and EUR 171,000 in Larnaca. A new build carries 19% VAT, with a strict 5% reduced rate for a main residence; on a resale the transfer fees are 3% on the first EUR 85,430, then 5% and 8%, halved. There is no annual property tax. Rental angle: about 4.5% to 5.9% gross. Main risk: prices up 8.5% in a year and asking prices far above sold ones. The permanent residency route needs a new build of EUR 300,000 plus VAT, so it is not reached. See Cyprus: prices and buying costs.
Greece: a small flat, below the Golden Visa line
Central Athens at EUR 2,500 to 4,500 per m² gives roughly 40 to 72 m²; Thessaloniki at EUR 1,800 to 3,000 about 60 to 100 m²; Crete at EUR 2,000 to 4,000 about 45 to 90 m²; the Cyclades at EUR 5,000 to 12,000 only about 15 to 36 m². Buying costs are usually quoted at 7% to 10%, up to 12%. Rental angle: about 4.4% gross on average, small Athens flats near 6% to 8%. Main risk: prices above the 2008 peak. The Golden Visa needs EUR 400,000 or EUR 800,000 depending on the area, in one property of at least 120 m², and bars short-term letting, so EUR 200,000 does not reach it. See Greece: golden visa and prices and buying costs.
Portugal: one bedroom in Lisbon or a larger home elsewhere
INE medians for 2025 give Porto's metropolitan area about EUR 2,305 per m² (roughly 78 m²), the Algarve EUR 3,139 (about 57 m²), Loulé EUR 3,993 (about 45 m²) and Lisbon city EUR 4,875 (about 37 m²). Non-residents pay a flat 7.5% transfer tax (IMT) since 25 May 2026, with exceptions, plus 0.8% stamp duty; our guide's example puts total costs at about 9.7% to 10.5%. Rental angle: 4% to 5% gross in big cities, but a Lisbon flat nets nearer 2% to 3%. Main risk: prices up 16.5% in the year to the second quarter of 2026 and yields falling. Residential property no longer qualifies for the Golden Visa. See Portugal: prices and buying costs.
Spain: a flat in Málaga, Alicante or Barcelona
Málaga at about EUR 3,784 per m² gives roughly 48 m²; Barcelona at about EUR 4,090 (first quarter of 2026) about 44 m²; Alicante at EUR 2,909 about 62 m²; the Canary capitals at EUR 2,650 to 2,760 about 65 to 68 m²; the Balearics at EUR 5,228 about 34 m²; Madrid above EUR 6,000 under 30 m². Costs are roughly 10% to 13% and vary by region (Catalonia charges 10% transfer tax up to EUR 1 million). Rental angle: about 6.5% gross on average, Madrid near 4.7%, Alicante near 7.8%, with 2% to 4% net realistic. Main risk: prices up 12.2% in a year, faster than rents. The investor Golden Visa closed in 2025. See Spain: prices and buying costs.
If you live in Poland
At this size the purchase may be funded by a sale or a transfer from several accounts. See the budget in zloty for the conversion, selling a flat in Poland (PIT-39) for the sale side and PIT for foreigners in Poland for rental income. Official price statistics: Cyprus (Central Bank) and Montenegro (Monstat).
FAQ
Does EUR 200,000 give a residence permit? Only in some programmes, as reported in our guides: Georgia at USD 150,000, Montenegro at EUR 150,000 taxable value (not for EU citizens) and, near the line, Turkey at USD 200,000. Greece, Cyprus, Bulgaria and Portugal need more or no longer accept residential property. A purchase never guarantees status. Is a larger flat better? Not by itself: rents, costs and exit decide, see rental yield by country. Are the square metres a promise? No, they are arithmetic from averages. Should I buy in two countries? Splitting adds costs twice. What is the first step? Convert the budget and agree your goal, then read the country guides.
How we help
We are a trilingual platform that finds properties and coordinates independent local lawyers and tax advisers. We start from your budget and goal and check asking prices against closed sales. This text is informational and is not legal, tax or investment advice; figures are indicative and change, so verify the current rules before you decide.