Cheapest Place To Buy land In The World | askBAMLand

Real estate prices continue to skyrocket, which is why investors and aspiring homeowners are expanding their search for cheap land options around the globe.

The cheapest places to buy land in the world to buy land are:

  1. Bolivia
  2. Portugal
  3. Paraguay
  4. Mexico
  5. Greece
  6. The United States
  7. Spain

After extensively researching international real estate prices, I have gathered enough information to determine the cheapest places to buy land in the world. My research has indicated that you should consider your budget, as well as the legal process of buying land internationally, as the procedure can vary depending on the country that you choose.

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Cheapest Places to Buy Land in the World

The real estate market is not what it once was. With more competition than ever and land prices soaring, many people are looking elsewhere for future property investments.

It’s easy to get locked into looking for real estate in specific areas. However, if you are not location-dependent, I suggest that you expand your search options, as there are plenty of places around the globe with shockingly cheap land prices. These are the countries with the most affordable land prices:

  1. Bolivia
  2. Portugal
  3. Paraguay
  4. Mexico
  5. Greece
  6. The United States
  7. Spain

1. Bolivia

If you are looking for cheap real estate, there are few nations around the globe that can compete with Bolivia. This beautiful South American country is a hidden gem amongst savvy real estate investors, as the land prices are simply too good to be true.

While buying land in urban areas can still be a bit pricey, agricultural and rural land can cost as little as $100 per acre in some regions. If you do not want to go through the process of developing the property yourself, you can choose to buy a finished home at a starting price of $50,000 for a basic setup.

Naturally, a more luxurious home with two to three bedrooms will have an increased price tag - with $80,000 being the starting cost.

Living in Bolivia is not expensive, and you can have all the comforts of home at a fraction of the price of a western country. On average, you can expect to pay around $400 to 600 per month for standard living costs once rent is taken care of.

2. Portugal

Portugal may not be the cheapest country to buy land in the world, but it is certainly one of the most affordable places in Europe to invest in quality real estate. What separates Portugal from many countries is that it has excellent value as far as investment opportunities.

The European real estate market is lucrative and competitive, implying that you have a much better chance of seeing a return on your parcel down the line. You can buy land in Portugal for as little as $200 per square foot in some regions - with agricultural land fetching an even lower price.

This may not equate to a dirt-cheap real estate investment, but it can be extremely profitable down the line if you play your cards right. Portugal’s popularity among ex-pats is on the rise at the moment, and a wise real estate investor would see this as a perfect opportunity to get in and establish themselves on the market before prices increase.

If you are looking to buy land for a private household, living in Portugal is extremely affordable. Once rent is out of the picture, you can enjoy living in Portugal for $700 per month or less.

3. Paraguay

A low-key South American country that so many people overlook is Paraguay. This beautiful Latin American nation has stunning natural landscapes and rich culture - making it a perfect place for building a private residence and investing in real estate.

The national economy does not rank high internationally, which keeps the bulk of the country’s land prices quite low. If you are open to the idea of acquiring real estate in remote and rural parts of Paraguay, you can find parcels for as little as $15,000 per hectare.

At this price, you can become a real-estate tycoon with a very small initial investment. However, if you are not set on investing and simply looking for a place to settle down, Paraguay is a very affordable country to relocate to.

You can expect to pay 58.86% lower overall expenses compared to the United States, implying that you can cut your time to retirement nearly in half if that is your end goal.

4. Mexico

If you want to extend your vacation in Mexico indefinitely, this is a great place to buy affordable land. Compared to other Latin American nations in the south, Mexico can be a bit pricier when it comes to buying real estate.

However, given how familiar Mexican culture is to a lot of us, many people prefer to live somewhere that feels closer to home. You can buy a beautiful 3-bedroom home in some parts of Mexico for as little as $100,000 to $150,000, which is a fraction of the price of some of the most affordable parts of the U.S.

With that said, buying rural and agricultural land can be far cheaper than this. In addition, some property listings near Mexico City are on the market for just over $20,000. The specs and conditions of each property are different, and if you are willing to settle for less, you can find some incredible deals for cheap real estate.

5. Greece

People are often shocked by just how affordable land prices in Europe can be if you look in the right places. Surprisingly, Greece is one of Europe’s most affordable nations for buying real estate - especially when you compare it to some of the neighboring countries in the Mediterranean.

There are plenty of parcels on the Greek real estate market that are remarkably cheap; some of which are even beachfront properties. You can buy an entire estate in regions, such as Sithonia, for around $37,000. Otherwise, there are dozens of property listing advertising real estate for $12 per square foot.

While prices in cities may be considerably higher than this, acquiring real estate in rural areas is highly attractive for investors. On the other hand, if you are looking for a good place to retire, the Mediterranean coastline is not a bad place to do it on the cheap. Given how relaxed Greece’s real estate laws are for foreigners, many investors and retirees have their eyes on this European nation.

6. United States

Although land prices in some parts of the United States are skyrocketing beyond belief, that is by no means the case for the entire country. The U.S. is massive, and the real estate market is incredibly diverse and accessible, despite how competitive it has become.

With that said, plenty of places around the country are very affordable for buying land. You need to consider your options carefully, as there are many states with attractive real estate options, such as:

  • Arizona
  • New Mexico
  • Oklahoma
  • South Dakota
  • Kentucky
  • Tennessee
  • Florida
  • Mississippi

If you want to avoid expensive housing in the U.S., you need to stay clear of real estate hot spots and popular urban areas. By doing so, land prices are a fraction of the cost, and you can enjoy affordable real estate without the competition.

Some parts of the country, such as Arizona, have a median per acre cost of just $4,164. Whether you are an investor or an aspiring homeowner, this is a real estate opportunity that you should not overlook.

7. Spain

Yes, you heard that right - Spain! Southern Europe, in general, can be a very affordable region for buying, but Spain is hands down one of the cheapest countries on the continent. The cost of living is incredibly low, with many people paying around $500 to $700 per month to sustain all of their expenses.

Buying real estate in Spain can be very affordable so long as you are willing to acquire rural or agricultural land. Some parcels on the market are listed for as little as $11,000 per hectare. Although this may be higher than other countries on our list, for many people, it is well worth the extra money to own property in Europe.

In addition to cheap land prices, Spain is a great country to live in. You can enjoy European cuisine, vibrant culture, and stunning landscapes - essentially turning a dream vacation into a permanent living situation.

About THE AUTHOR

Brittany Melling

Brittany Melling

Brittany has been in the land business since 2020 when the world was starting to shut down. Since then, we’ve sold to dozens of people from ATV weekend warriors to camping enthusiasts to retired truck drivers. Our inventory spans mostly in the western United States. We’ve been trained by experience, land acquisition courses, and hundreds of hours meeting with county assessors and clerks, zoning officials, realtors, and land investors. We’ve answered hundreds of questions from people regarding the buying and use of land.

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