Properties close to the beach or facing the ocean are always in high demand, be it a villa, luxury estate, or apartment. Due to the higher desire for coastal properties, prices for even a one-bedroom apartment run at a premium. In this research, we have mentioned some of the best places where one can buy a mid-sized apartment in a coastal setting for under $150,000. All these places are unique and showcase their own set of features. Some offer a more laid-back, tropical setting, while others are packed with tourists and have a busy environment. Another thing to note is that buying a beachfront flat offers several potential advantages. Firstly, by renting it out to vacationers, the investor can earn money to offset the cost of owning the property and potentially make a profit. Secondly, owning a beachfront apartment overseas can provide investors with a second home in a new and exciting location. Finally, real estate values appreciate gradually, so the apartment could potentially increase in value over time, providing the owner with a long-term investment.
So, with that, here are 15 places to buy a beachside apartment for $150,000:
15. Costa Blanca, Spain
Median Price: ~ $150,000
Often referred to as the "White Coast" of Spain, Costa Blanca is in the Alicante Province and spans 200 km from the city of Denia in the north to Torrevieja in the south. This idyllic stretch encompasses several notable cities and towns that are perfect for a beachfront apartment on mainland Spain. As prices for beachside apartments in Spain's other more prominent coastal areas of Barcelona, Malaga, and Marbella are at an all-time high, however, in Costa Blanca, one can still find plenty of affordable beachfront apartments. According to one of its local real estate websites, the average price for a mid-sized one to two-bedroom apartment in its cities of Torrevieja and Alicante is still under $150,000. This price tag is expected to rise exponentially in the upcoming years as demand for housing in this part of the country is on an upward trajectory. In addition, many savvy investors have scooped up affordable flats in the resort city of Benidorm and turned them into Airbnbs for easy profits.
14. Funchal, Madeira
Median Price: ~ $100,000
The city of Funchal is the main hub and the capital of the Portuguese island of Madeira, right in the Atlantic Ocean. Despite being 1,000+ km away from mainland Portugal, the island of Madeira and the city of Funchal are packed with all the modern-day services and amenities. It is the eighth-largest city in Portugal, with great air and sea connections to the mainland and the rest of the world. Due to its vertical topography, 80% of the city faces the sea, so almost all of its apartment complexes are characterized as beachfront. The coast is never far away in any part of the city. Even if the investor requires a flat further inland, it only takes 15 to 30 minutes to stroll down to the shore. Besides the main city, there are other noteworthy areas to invest in flats on the island, like its city of Santa Cruz, where the median price for a beachfront two-bedroom apartment can go as low as $100,000.
13. Cape Town, South Africa
Median Price: ~ $150,000
Mountains and natural marvels, pristine beaches, a vibrant city center, and localities with a multitude of unique personalities make Cape Town one of the most well-run cities in South Africa. Whether you're a beach lover or a mountain lover, there's something here for everyone. However, property prices in this city are the highest in South Africa. The median price for most beachfront villas can go as high as 2 million USD. When it comes to apartments, rates vary. Shore prices near fancy and high beaches are still higher, but the median price for a mid-sized 1 to 3-bedroom apartment with very close proximity to the beach is still under $150,000. Another plus of buying here is that property tax for apartments in Cape Town is meager, with annual rates barely exceeding 1%. Furthermore, the city is home to a large international community, and there are heaps of tourists, so there is a vast opportunity for rental income as well.
12. Tenerife, Spain
Median Price: ~ $120,000
The largest and most populous island in the Canaries, Tenerife, is the most sought-after and highly favored island by investors and retirees alike. It is also a good choice if you plan to set up your own Airbnb business because it easily sees the most tourism trade, and its climate is warm all year round, making it desirable among North American and Scandinavian tourists. Prices of apartments vary a lot throughout the island. For instance, in its main city of Santa Cruz, the median price for beachside apartments can reach up to $250,000. But in contrast, most of the other places down south are still very affordable, and there is an abundance of condominium complexes dotted in every district, with median prices for beachfront apartments going for as low as $120,000. On the downside, the real estate tax on this island is a bit high, even for those purchasing a condo. Currently, the average annual tax can reach up to 2% of the cadastral value of the property.
11. Larnaca, Cyprus
Median Price: ~ $150,000
A resort city known for its sandy strip and palm-lined seaside promenade, Larnaca is compact, easily accessible, and offers swift access to other regions on the island. It is one of the most ideal cities for anyone looking to buy a seafront apartment in Cyprus for capital appreciation and short-term rental income. The average price for a mid-sized one-bedroom apartment in most of its newly constructed condominium complexes is way under $150,000. These prices can go even lower if one gravitates a little bit further inland or chooses to buy in one of its older apartment complexes. On the flip side, this city is mostly empty and closed during the winter months because, during these months, it is very cold, and winter is at its peak, with average temperatures dropping as low as 8° C.
10. Turkish Riviera
Median Price: ~ $150,000
Often touted as the "Turquoise Coast," the Turkish Riviera is a 600 km long stretch of Mediterranean coastline in the southwestern region of Turkey. It stretches from the southern part of Izmir to the city of Alanya in the southern region of the country and includes many beautiful coastal communities and cities, each with a different property market. Predominantly, apartments are dotted throughout the region. Currently, there are more than 100,000 listings on its local websites. When it comes to prices, it is surely way cheaper than its European counterparts. The median listing price in its main cities of Antalya, Izmir, and Bodrum can be high, but collectively, $150,000 is more than enough to buy a mid-sized apartment on the Turkish Riviera. Furthermore, the investor who buys property in Turkey is also rewarded with a permanent residence permit and some additional tax perks. On top of this, some developers sell apartments in quarterly installments, so those with a smaller budget can also invest here.
9. Bali, Indonesia
Median Price: ~ $100,000
Bali is one of the prime spots for buying beachfront property in Indonesia, with affordable prices, a stable real estate market, beautiful views of the coastline, lots of opportunities for recreational activities, and an overall laid-back lifestyle. Although foreigners cannot buy freehold property directly in their name in Indonesia, it is possible to buy an apartment through a registered company, which is a relatively streamlined process. The prices in Bali are also quite affordable, with most mid-sized apartments facing the ocean in areas like Seminyak costing around $100,000, while a luxury apartment in Canggu can cost up to $200,000. Anyhow, if Bali isn't that much of an interest, the adjoining island of Lombok has much of the same amenities, with its distinct character, and can be just as good, with much lower prices. But bear in mind, that Lombok is not as famous as Bali, and if you are seeking capital return by vocational rental income, then Bali is the best choice.
8. Riviera Maya, Mexico
Median Price: ~ $100,000
Stretching south from Cancun to Tulum, the Riviera Maya is a sun-kissed haven that beckons with its blend of pristine beaches, ancient ruins, and vibrant culture. Property prices in this part of Mexico are at an all-time high, especially in its areas of Tulum and Cancun. But anyhow, prices in the city of Playa del Carmen are still very low, and many new condominium constructions are kicking off throughout the peninsula. According to one of its local realtor websites, the current median price for a midsize two-bedroom apartment is about $100,000, while those seeking luxury or seafront apartments should expect to pay over $150,000. However, it's essential to navigate the market with due diligence, considering factors like property values, legal considerations, tax system, and market trends.
7. Sicily, Italy
Median Price: ~ $70,000 to $140,000
The largest and one of the most densely populated islands in the Mediterranean Sea, Sicily offers a traditional Italian experience, complete with medieval hilltop towns and incredibly cheap properties. Be it a freestanding villa, luxury estate, or an apartment. In the past, people used to avoid buying property here. Still, nowadays, the travel connections with the mainland and safety index are improving, so the numbers of those interested in property investment are growing. The median listing price for a midsize two-bedroom apartment in its main city of Palermo is around $70,000. But if you are after luxury and a seafront view, this price doubles to $140,000. However, there is one major con of buying in Sicily, which is bureaucracy and extensive paperwork. So, in the end, as with any real estate investment, it's advisable to conduct thorough research, work with local experts, and consider factors such as market conditions and legal considerations.
6. Florianopolis, Brazil
Median Price: ~ $80,000
For most investors, safety is a big concern when choosing a place to buy property in Brazil, and rightfully so, as the country is ranked 32nd most dangerous in the world. However, its city of Florianopolis is classified as the safest out of all the big metro cities in the country, with the negative connotation of being overrun by local gangs. In addition, it is said to be the Brazilian city with the highest quality of life. Although petty theft does occur, especially in tourist spots, it is always good to avoid certain areas. Aside from safety, the city has a lot on offer, from its pristine beaches, green tapering hills, azure waters, and affordable property options. The best locations to invest in properties are the areas most visited by tourists, which are mostly around the coastline. Furthermore, property prices in this city are very cheap, with the median price for a three-bedroom beachfront condo going for as low as $80,000, while prices for a luxury two-bedroom apartment in front of its prime beach site can go for as low as $150,000.
5. The Bulgarian Riviera
Median Price: ~ $100,000
Renowned for its golden sands and turquoise waters, the Bulgarian Riviera covers the entire eastern bound of Bulgaria, stretching from the Romanian Black Sea resorts in the north to European Turkey in the south. Many beach cities and towns are dotted across this coastal stretch, with the most prominent ones being the main metro city of Varna, the Bulgarian Ibiza named Sunny Beach, and the UNESCO World Heritage town of Nessebar. The real estate market in this part of the nation is expensive when compared to Bulgarian standards. However, for international investors, it is very cheap, with the average price for a two-bedroom apartment in the city of Varna barely exceeding $100,000. Moreover, real estate taxes in Bulgaria are very lenient. The typical annual tax ranges from 0.1% to 0.3% of the property value. So, if the value of a property is $100,000, the annual property tax would be a mere $100 to $300.
4. The Albanian Riviera
Median Price: ~ $80,000 to $120,000
Situated in southern Albania, this is by far one of the best cheap regions to buy an apartment facing the Mediterranean Sea. Most people perceive the Albanian Riviera as the entire coastline of the country, but it only encompasses the area bordering Greece in front of the island of Corfu. The beach cities of this area have become attractive retirement and travel destinations, given that they are significantly less crowded and much cheaper than other European hotspots. Moreover, there are many small settlements, large towns, and newly constructed condominium complexes along this coast to buy inexpensive beachfront property. But according to one of its local realtor websites, property prices in this area are expected to increase at a rate of almost 30% in the next couple of years, as the country is starting to see a high demand for beachfront properties. Nevertheless, the current median price for a mid-sized apartment in its main city of Vlora is roughly $80,000 to $120,000.
3. Bar, Montenegro
Median Price: ~ $70,000
This is one of the most underrated cities in not just Montenegro but the whole of the Adriatic Sea. It might not be as bustling as the other coastal areas mentioned in this article, but it is quite certainly a great spot to buy a cheap apartment and enjoy a tranquil atmosphere. Besides, it is not underdeveloped, as all the basic services and necessities are easily available at arm's length. Furthermore, it has gained a fair amount of traction from international buyers, as dozens of people, specifically from Scandinavia and Western Europe, have invested in its real estate market. The town's growing popularity stems from its relatively affordable property prices compared to other Mediterranean locations. As of early 2024, the median price for a two-bedroom seafront apartment can go for as low as $70,000, and the annual tax of these sorts of properties is a mere 0.2%.
2. Santa Marta, Colombia
Median Price: ~ $60,000
Right on the Caribbean Sea in the northern Colombian department of Magdalena, Santa Marta provides direct access to the coastline and a relaxing tropical climate. This city is among the easiest to invest in, with the only requirements to invest being a valid passport and sufficient funds to properly invest. The average price of a two-bedroom condo in the residential district is about $60,000, with all the necessities of daily living. The foreign ministry likes and even prefers foreign investments into the country; therefore, they make it both easier as well as attractive for people to shift their money into the land and get high returns both ways.
1. Colombo, Sri Lanka
Median Price: ~ $60,000 to $80,000
The largest metropolitan city on the island nation of Sri Lanka, Colombo is the country's economic and cultural hub, boasting a dynamic atmosphere characterized by bustling markets, contemporary architecture, and a rich tapestry of diverse cultures. Although its beaches might not compete with the likes of Spain or Italy, it is certainly way cheaper than most. Plus, the US dollar and other superior currencies can stretch long here due to the favorable conversion rates on offer. The city's evolving skyline includes high-end developments that cater to those looking to invest in beachfront apartments with stunning views of the ocean. The current median price for a luxury two-bedroom apartment overlooking the sea is estimated to be around just $60,000 to $80,000. Aside from the low prices, foreign nationals who invest in its real estate market are exempt from property tax.
In conclusion
Finding a dream beachside apartment doesn't have to break the bank. As we've explored in this guide, there are numerous locations across the globe where you can find beautiful, affordable apartments for under $150,000. Whether you're looking for a tranquil escape in a laid-back tropical setting or a bustling tourist hotspot, there's something for everyone. Each destination offers its unique charm, amenities, and opportunities, be it for investment purposes, a vacation home, or a permanent residence.
Remember, investing in real estate, especially in foreign countries, requires due diligence. It's important to research local market trends, understand tax implications, and consider factors like safety, accessibility, and the potential for property value appreciation. Working with local real estate experts can also provide invaluable insights and guidance.
Ultimately, these affordable beachside properties provide an exciting opportunity to own a piece of paradise without straining your finances. So whether you're an investor looking to expand your portfolio or someone dreaming of waking up to the sound of waves, these destinations offer a gateway to achieving your coastal living dreams at a reasonable price. Happy house hunting!