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.
4
countries covered
22
sourced figures per country
100%
of the figures carry a source
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.
Country guides
The four countries
Head to head
The six comparisons
The coast, priced
Where the Mediterranean is still affordable
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.
Average asking price per m² on the coast
Spain
No residency through property- Coast, per m²
- EUR 3,150
- Buying costs
- 8-13%
- Gross yield
- 6.5%
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.
- Getting a mortgage as a non-resident: Spain, Portugal, Greece and CyprusWhat non-residents can borrow in Spain, Portugal, Greece and Cyprus in 2026: LTV caps, indicative rates, the fees on top, and where banks say no.
Data, ranked
Rankings and tools
The next step
Get introduced to a buying agent
Tell us what you are looking for and we will put you in touch with an independent buying agent or adviser in that country. Free for you. We are paid a referral fee by the professional if a purchase completes, which is set out in full on our about page.