In Riga, you could find older apartments advertised at around €978 per square metre in September 2026.

That is less than €1,000 per square metre in a capital city inside the European Union.

But there is a catch. That price refers to older apartments in residential estates, not Riga's entire property market. New-build apartments can cost more than three times as much.

It raises an important question for international buyers: when a city is described as cheap, what can you actually buy?

Here is a closer look at six relatively affordable European capitals, the latest available price figures, and what €100,000 might get you.

What does €100,000 buy?

These are indicative comparisons, not a like-for-like ranking. The figures combine asking prices and transaction data from different periods and property segments. Floor areas are calculated before taxes, fees, renovation and furnishing.

The differences matter. Riga's figure describes older housing, Bucharest's is an asking-price measure for resale apartments, and Sofia's is based on completed transactions. You cannot compare them as if they all measure the same thing.

The biggest price gap may be inside the city

Riga makes the point particularly well.

In September 2026, older apartments in residential estates were advertised at around €978/m². Meanwhile, Latio reported average advertised prices of approximately €3,220/m² for new-build apartments in Q2 2026. Latio also found that actual new-build transaction prices were around 16% below asking prices.

That is a huge difference within one city, before you even consider the exact neighbourhood or condition of an apartment.

The lesson is simple: a citywide average is not the price of the apartment you will buy.

Six capitals, six different propositions

Riga, Latvia

Riga offers the lowest entry price in this comparison, particularly for buyers willing to consider older apartments outside the most expensive central areas.

But a cheap flat in a Soviet-era building may need better insulation, new windows, updated plumbing or other repairs. Heating costs and the condition of shared areas also deserve attention.

Prices in this segment have been rising. Arco Real Estate reported growth of more than 10% since the beginning of 2026 by September, although prices remained well below their 2007 peak.

Riga is worth investigating if a low purchase price within the EU is your priority. Just budget for the building as well as the apartment.

Tirana, Albania

Tirana offers a lower entry point than many established European capitals, but it is no longer the market it was a few years ago.

Albania's national housing price index rose sharply through 2025. By the second half of that year, Tirana's annual price growth had slowed to 4.4%, while coastal areas contributed more strongly to the national increase.

For €100,000, the indicative price range suggests around 43 to 59 m² before additional costs. Actual prices depend heavily on location, construction quality and building age.

Buyers should also research ownership requirements, registration, taxes and realistic rental demand before committing.

Skopje, North Macedonia

Skopje is often described as one of Europe's cheaper capitals, but its average asking price hides substantial differences between older apartments, renovated properties and new developments.

A figure of around €2,158/m² suggests approximately 46 m² for €100,000 before costs. Treat that as a guide to advertised prices, not a guaranteed purchase price.

Compare similar apartments in the same neighbourhood, and check recent sales wherever possible. The average is a starting point, not a buying strategy.

Bucharest, Romania

Bucharest offers a larger urban market and a wide choice of neighbourhoods and property types.

Imobiliare.ro's June 2026 index put resale apartment asking prices at €2,259/m², while new-build asking prices were around €2,636/m². These are advertised prices, not completed sales. See the Bucharest price data.

With €100,000, you may be looking at a compact apartment or a property outside the most expensive central areas. Bucharest's size gives buyers plenty to compare, but it does not guarantee that a particular apartment will be easy to rent or resell.

Podgorica, Montenegro

Montenegro's coastal property market often gets the international attention, but Podgorica offers a different proposition: a capital-city market rather than a holiday-home destination.

MONSTAT reported an average price of around €2,510/m² for newly built dwellings sold in Podgorica in Q2 2026, up 19.1% year on year.

This is a transaction figure for new dwellings, not every apartment in the city. It also does not prove that every property will attract strong rental demand. Research the local market for the specific type of apartment you want to buy.

Sofia, Bulgaria

Sofia is among the more expensive options in this comparison.

Bulgarian Properties reported an average actual transaction price of €2,680/m² in Q1 2026, around 29% higher than at the start of 2025. The same report recorded fewer transactions than a year earlier, suggesting that the market was becoming more measured after a strong period of growth. Read the Sofia market report.

Bulgaria adopted the euro on 1 January 2026. Sofia and Riga are therefore both in the euro area, which can simplify budgeting for buyers whose finances are in euros. It does not, however, remove property-market risk.

Cheap is moving

These capitals have not stood still while property in Western Europe became more expensive.

Podgorica's new-build prices rose by 19.1% year on year in Q2 2026, while Riga's older standard-type apartments rose by more than 10% between the start of the year and September.

Those figures cover different property segments and periods, so they should not be used to rank the cities by growth. They do show why yesterday's bargain may not be today's bargain.

The real question is not simply whether a city is cheaper than Amsterdam, Paris or Berlin. It is whether the particular apartment you are considering is reasonably priced given its location, condition, running costs and rental potential.

What to check before buying

Before being tempted by a low price, check four things:

• The property itself: Compare similar apartments in the same area and building type.
• The full cost: Include purchase costs, renovation, furnishing, taxes and building maintenance.
• The rental market: Check realistic rents, competing properties, vacancy periods and any short-term rental rules.
• The currency: Riga and Sofia use the euro. Montenegro also uses the euro, although it is not an EU or euro-area member. Albania, North Macedonia and Romania use their own currencies, so exchange-rate movements may affect income and expenses when converted back to euros.

So where should you look?

If you want the lowest entry price in this comparison and are willing to renovate, Riga's older housing stock deserves a closer look.

If you want to explore a lower-entry market outside the EU, Tirana is worth researching. Bucharest offers a larger urban market, while Podgorica gives you a different alternative to Montenegro's coastal hotspots. Sofia may suit buyers who prefer a capital in the EU and euro area and are prepared for a higher purchase price.

There is no universal winner. The right choice depends on the property, the total budget and what you intend to do with it.

Don't start with the cheapest capital. Start with the apartment you can afford, the costs you can manage and the evidence that it is worth the asking price.

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Sources

• Arco Real Estate, Riga standard-type apartment market overview, September 2026.
• Latio, Riga new-build advertised and transaction prices, Q2 2026.
• CenaKvadrat, Skopje asking-price data, 2026.
• Imobiliare.ro, Bucharest apartment price index.
• MONSTAT, prices of dwellings in new residential buildings, Q2 2026.
• Bulgarian Properties, Sofia housing market report, Q1 2026.
• Bank of Albania, Real Estate Market Survey, H2 2025.

Information current as of October 2026. Figures combine different property types, periods and methodologies. They are indicative, not guaranteed purchase prices, and asking prices may differ from completed transactions. Past growth is not a forecast. This article is for general information and is not legal, tax or financial advice. Buyers should seek independent professional advice before purchasing property.