Independent research · Southern Europe
Where in southern Europe should you buy?
Prices, buying costs, taxes and residency rules for Spain, Portugal, Greece and Cyprus. Every figure carries its source and the date we checked it.
- LisbonLIS
- MadridMAD
- Athens, NicosiaATH/NIC
4
countries covered
22
sourced figures per country
100%
of the figures carry a source
6
country comparisons
The coast, priced
Where the Mediterranean is still affordable
Average asking price per m² on the coast
Average asking price per square metre on the coast, in the four countries we cover. Pick a country to see what a purchase costs there, what it yields, and whether buying still leads to a residence permit.
Spain
No residency through property- Coast, per m²
- € 3,150
- Buying costs
- 8-13%
- Gross yield
- 6.5%
Country guides
The four countries
Average asking price per m² in the capital, sourced per country.
- 01Spain8-13% buying costsNo residency through property6-12 weeks to complete€ 5,900per m², capital
- 02Portugal3-11% buying costsProgramme runs, property excluded6-12 weeks to complete€ 6,100per m², capital
- 03Greece5.5-8% buying costsProperty still leads to residency8-12 weeks to complete€ 3,200per m², capital
- 04Cyprus2.5-6% buying costsProperty still leads to residency8-26 weeks to complete€ 2,400per m², capital
Head to head
The six comparisons
- 01Spain vs Portugal€ 5,900 / € 6,100 per m², capital
- 02Spain vs Greece€ 5,900 / € 3,200 per m², capital
- 03Spain vs Cyprus€ 5,900 / € 2,400 per m², capital
- 04Portugal vs Greece€ 6,100 / € 3,200 per m², capital
- 05Greece vs Cyprus€ 3,200 / € 2,400 per m², capital
- 06Portugal vs Cyprus€ 6,100 / € 2,400 per m², capital
Living there
Buying is not the same as moving
A purchase does not come with a residence permit in any of these four countries, and in two of them it never did. These guides cover the visa routes that do exist, what you pay in tax once you live there, and how you get into the health system.
Guides
The parts nobody explains properly
- NIE number in Spain: how to get one, what it costs, how long it takesWhat a NIE number in Spain is, who needs one, how to apply in Spain or at a consulate, the EUR 9.84 fee and how long each route really takes.
- Non-resident mortgage: Spain, Portugal, Greece, CyprusWhat non-residents can borrow in 2026: up to 70% in Spain and Portugal, 65% in Greece, 70% in Cyprus (often 50-60%). Indicative rates, fees and refusals.
Data, ranked
Rankings and tools
The premise
Why these four countries
Because they are one story rather than four. Spain ended its golden visa on 3 April 2025 and Portugal took real estate out of its own in October 2023, which leaves Greece and Cyprus as the two places in southern Europe where buying a property still produces a residence permit. A large part of the demand that used to go to the Costa del Sol is now deciding between an island in the Aegean and a new build in Limassol.
Spain and Portugal remain the two biggest markets for foreign buyers and the comparison almost everyone starts with. Greece is the cheapest to transact in, at 3.09 percent transfer tax against 6 to 10 percent in Spain. Cyprus is the cheapest to own, with no annual property tax, no wealth tax and no inheritance tax at all. Between them these four cover the realistic shortlist, and covering four properly beats covering twenty at the depth a listicle manages.
One door per country
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Spain
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Portugal
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Greece
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Cyprus
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