Where’s the Cheapest Real Estate Outside Canada?

Canadians across the country have been subjected to rising real estate costs while enduring declining wages. It’s a divergence leading many Canadians to look for places with the cheapest real estate outside Canada.

If you’re a Canadian upset with the quality of life and happiness decline among your country-people, I have news for you. It’s not changing anytime soon. In fact, it’s time to vote with your feet and start exploring greener pastures!

Luckily our team has done the leg work for you!

We’ve interviewed expats and immigration consultants to identify countries with the most affordable housing that still offer a high standard of living.

You might be wondering, how did we score these countries?

Much like our popular “Leaving Canada Quiz,” we developed a comprehensive scoring system, rating each country out of 100.

But we didn’t just look for cheap housing; we considered a variety of parameters to ensure the chosen destinations meet the Canadian standard of living. You’ll see what we prioritized below.

Our Criteria for Choosing the Cheapest Real Estate Outside Canada

We’ve added extra parameters to ensure that our list provides you with the best possible destinations for affordable and sustainable living. Here are the key factors we considered:

Ease of Work and Residence Permit Attainability

We’re only choosing countries where obtaining a work permit or residence permit is relatively easy for Canadians.

Whether through education, job hunting, or entrepreneurship, we’ve ensured that each of these countries has a visa or permit scheme that a Canadian in good standing can use to emigrate and stay long-term. This means you can focus on starting your new life without getting bogged down by complex immigration processes.

Cost of Housing

After many nights of researching foreign housing markets, each of these destinations is hand-picked for its housing affordability. To back up our research, we’ve used local listing agencies and Numbeo’s Housing Affordability Index. As a baseline, we considered the cost of a one-bedroom apartment in sought-after areas within these countries. This approach ensures that you’re looking at realistic and practical housing options.

Foreigner Home Ownership Allowed

Imagine traveling across the globe only to find out you can’t participate in the dream of homeownership—how disappointing! We’ve thought of that, too. That’s why we chose countries where foreigners are allowed to purchase property. This way, you can invest in a home and have a sense of stability and ownership from the get-go.

High Safety Index

As Canadians, we value safety, and we know you do too. Each country on this list was selected based on its safety scores and overall peacefulness. If you’re investing in a life outside of Canada, you want to feel safe at night and be able to enjoy your surroundings without fear. We made sure that these countries offer a secure environment where you can live and thrive comfortably.

With these strict parameters in mind, you can breathe easier knowing that your investment is safe, affordable, and a long-term commitment to improving your quality of life and that of your family.

Now, without further ado, here’s where you can find the Safest and Cheapest Real Estate Outside Canada.

Number 1: Find Affordable Real Estate in Panama

Panama is an enticing destination for Canadians seeking the cheapest real estate outside Canada and a vibrant lifestyle.

Picture this: a cozy one-bedroom apartment in the heart of Panama City can be yours for just $90,000 to 150,000 CAD.

The city offers a decent level of safety, although, like any urban area, there are places best avoided. However, the perks far outweigh these minor concerns.

One of Panama’s standout features is its tax-free status on digital services, making it a haven for digital entrepreneurs. Obtaining a visa and residence permit is extremely straightforward if you have over $11,000 USD in provable passive income per year. This ease of access has made Panama a popular choice for many Canadians.

The weather in Panama is another major draw. Imagine basking in lovely, warm temperatures year-round. If the coastal areas get a bit too hot, you can always retreat to the cooler, picturesque mountains of Boquete, a favorite spot among expats.

Speaking of expats, Panama boasts a strong Canadian expat community, providing a sense of home away from home. The camaraderie and support among fellow Canadians can make your transition smoother and more enjoyable.

For those looking to escape the harsh Canadian winters, Panama offers a visa-free stay for up to half a year. This flexibility allows you to enjoy the sun without the immediate pressure of obtaining a long-term visa.

In summary, Panama presents an attractive mix of affordable real estate, favorable tax conditions, easy visa processes, and a welcoming expat community. Whether you prefer the bustling city life or the serene mountain retreats, Panama could be your next perfect destination.

Number 2: Live Luxuriously for Less in Latvia

Latvia, a hidden gem in Northern Europe, offers a blend of affordability and cultural richness, making it an appealing option for Canadians looking to relocate. In the capital city of Riga, you can find a charming one-bedroom apartment for between 120,000 and 160,000 CAD. The cost of living, especially food, is significantly lower than in Canada, making your budget stretch further.

Latvia’s climate closely mirrors that of Canada, with distinct seasons and a familiar chill in the air. This makes assimilation easier for Canadians who appreciate the changing seasons and enjoy winter activities. Beyond the weather, Latvia’s young and dynamic population presents exciting opportunities for Canadians, especially those eager to tap into a burgeoning job market.

While geopolitical risks are higher in Latvia due to its proximity to Russia, the country invests heavily in defence to ensure the safety and security of its residents. For Canadians considering the move, obtaining a temporary residency permit is relatively straightforward, with options ranging from one to three years. This flexibility allows you to settle in and explore Latvia at your own pace.

Foreign housing ownership is not only accepted but also supported with available financing options. This means you can invest in property without the typical hurdles faced in other countries. Latvia’s welcoming stance on foreign investors makes it a favorable destination for those looking to own a piece of European charm.

Whether you’re a young professional seeking new career opportunities or simply looking for a change of scenery, Latvia offers a compelling mix of affordability, culture, and opportunity. With its vibrant job market and easy residency options, Latvia stands out as a top choice for Canadians ready to make a move.

Number 3: Experience High Tech Living in Estonia

Estonia, often dubbed the Silicon Valley of Europe, is a fantastic option for Canadians seeking affordable and high-quality living. By browsing through Estonia’s real estate listings on City24.ee, the local equivalent of MLS, you’ll find that a spacious 1-2 bedroom apartment in the vibrant capital of Tallinn ranges from 140,000 to 175,000 CAD.

Estonia boasts a diverse digital economy, making it a hotspot for tech enthusiasts and digital entrepreneurs. English is widely spoken, which eases the transition and helps you integrate smoothly into the local community. The cost of food is much lower compared to Canada, and the country offers high-quality medical services, ensuring you maintain a good standard of health and wellbeing.

The quality of life in Estonia is comparable to what you’re used to in Canada, with similar weather patterns that include snowy winters and pleasant summers. As the wealthiest of the Baltic states, Estonia is on a promising path, with strong prospects of joining the European Union. Starting your residency journey now could potentially lead to EU residency, opening doors to broader opportunities across Europe.

According to demographic research from the Population Reference Bureau, Estonia faces unique demographic challenges but remains resilient and forward-thinking. The country is known for its extremely safe and clean cities, providing a secure and comfortable environment for you and your family.

Estonia’s blend of modernity, safety, and affordability, coupled with its strong digital infrastructure, makes it an ideal destination for Canadians looking to relocate. Whether you’re drawn by the tech scene, the quality of life, or the prospect of EU residency, Estonia offers a welcoming and promising future.

Number 4: Diverse Living Options in Poland

Poland is a country rich in history and culture, and offers a massive amount of housing options across its beautiful cities and landscapes.

Whether you’re looking to buy or rent, you’ll find plenty to choose from. From the scenic mountainous southern region to the Baltic Sea in the north, and the bustling metropolises of Warsaw and Krakow in the center, Poland has housing out the wazoo.

Most Polish people speak English well, making communication easy for Canadians.

Polish cities are known for being some of the safest and cleanest in Europe. While you might spot a few vodka bottles on the ground, it’s a minor inconvenience compared to the safety and cleanliness you’ll enjoy.

In Krakow, a charming city known for its rich cultural heritage, a one-bedroom apartment will cost you around $150,000 to 200,000 CAD.

Poland’s affordability extends beyond housing; food and alcohol are significantly cheaper than in Canada, allowing you to enjoy a higher standard of living without breaking the bank.

One of the major advantages of relocating to Poland is the fast track to citizenship.

After renewing your residency permit for three consecutive years, you can apply for citizenship. This process is relatively quick compared to other countries, offering you a clear path to becoming a Polish citizen. Poland also hosts many international businesses, making it easier to find a job compared to the competitive job market in Canada.

Overall, Poland combines affordability, safety, and modern amenities with a rich cultural backdrop. Whether you’re drawn by the prospect of a fast citizenship process, a vibrant job market, or simply the beauty of its cities and landscapes, Poland presents a compelling option for Canadians looking to relocate.

Number 5: Embrace the Sun and Savings in Cyprus

Cyprus, with its unbeatable climate, excellent safety record, and affordable housing, stands out as an ideal destination for Canadians seeking a sunny and budget-friendly place to live. English is widely spoken in Cyprus, which eases the transition for English-speaking expats.

One of the significant financial benefits for older Canadian retirees is Cyprus’s pension tax scheme, which offers favorable tax conditions.

Despite rising prices, the cost of living and housing in Cyprus remains affordable by Canadian standards. For instance, a one-bedroom apartment in the coastal region of Limassol will set you back around $250,000 to 300,000 CAD.

Cyprus boasts a thriving expat community, welcoming people from all around the world. This diverse and supportive network can help you feel at home quickly. The island’s warm waters make swimming a year-round activity, and the beautiful hiking trails and natural landscapes provide endless opportunities for outdoor adventures.

The healthcare system in Cyprus is high quality, ensuring that you and your family have access to excellent medical care. The island is also well-connected with efficient bus routes, making it easy to get around without a car.

With its warm climate, affordability, and vibrant expat community, Cyprus offers an attractive blend of relaxation and opportunity. Whether you’re looking to retire in comfort, enjoy outdoor activities, or simply soak up the sun, Cyprus provides a welcoming and beautiful environment for Canadians looking to relocate.

Final Scores:

Housing Affordability	82.5/100
Safety Score	80/100
Foreign Ownership Score	100/100
Visa / Permit Attainability	70/100

Number 6: The Hidden Gem of Malta

Malta is another low-cost European destination that Canadians often overlook. Nestled in the heart of the Mediterranean, Malta offers stunning sea views, warm weather, and a welcoming environment. In the capital city of Valletta or other coastal areas, you can find a spacious two-bedroom apartment with sea views and a balcony for approximately $350,000 to 400,000 CAD. While this price may seem steep to some, the low condo fees, breathtaking views, and excellent weather more than compensate for the cost.

One of Malta’s standout features is its user-friendly electronic visa application system, making it straightforward for Canadians to get approved to stay for extended periods. The process is efficient and designed to minimize hassle, ensuring a smooth transition for those looking to make Malta their new home.

Malta offers several visa schemes for those intending to settle long-term. Whether you’re looking for residency through investment, employment, or other means, there’s a suitable option for you. You can explore the various schemes available through the Residency Malta Agency.

With its combination of affordability, ease of obtaining visas, and picturesque living conditions, Malta provides a compelling option for Canadians seeking a new life in a beautiful European setting. From the vibrant city life in Valletta to the serene coastal areas, Malta offers a unique blend of culture, comfort, and convenience.

Final Scores:

Housing Affordability	70/100
Safety Score	90/100
Foreign Ownership Score	100/100
Visa / Permit Attainability	90/100

Ready to Make the Move? Start Your Journey with Our How to Leave Canada Guide

As you can see, there are several fantastic destinations outside of Canada offering affordable real estate, excellent quality of life, and welcoming communities. Whether you’re drawn to the vibrant tech scene in Estonia, the sunny shores of Cyprus, or the rich cultural heritage of Poland, there’s a perfect place waiting for you.