After some wide-spread surfing i found some Real Estate in Detroit for less then $2,000.

Along with Bulgaria, this seems to be the cheapest in the World ....

Or do you know different??

I`ve never tried it, but I reckon if you search hard enough you`ll find some real estate in places like Bangladesh or in parts of Africa for a fraction of that.

But, if you`re talking about places where you might realistically want to live, then I imagine that parts of eastern Europe (like you already mentioned, Bulgaria), are a good bet.

From the invest viewpoint it doesn't even matter if you could imagine living at the place where you buy some real estate of course

Prices should be low now and most important of all: the region/country/city most have the potential to reach the 'western' (including Japan of course ) standards of living between today and 15/20 years or so.

Bulgaria is a full member of the EU, many Western-European companies have opened or relocated companies to the region, the tourism is growing rapidly (as they have beautiful resorts at the Black Sea and skiing resorts during the winterime) and the economic growth is quite large.

But be careful with a couple of things in Bulgaria: the total population of Bulgaria is declining. Reasons: low birth rate and young people going to the West to find jobs that are better paid. Together will the low population density I think this is a reason that it can take many decades before prices in all the small towns that are far away from the seaside, the skiing resorts and the most important cities.
Fraud is also quite a problem in the country although the EU will definitely force Bulgaria to take action against it in the years to come.

So, if you ask me:

- Cheap real estate in the Varna-Burgas areas at the seaside: Yes!
- Cheap real estate in the growing capital Sofia and the skiing resorts: Yes!
- All the rest: be careful

By the way, how about Detroit?? Aren't there other high costs involved when buying something for 2k$???

only the repair costs and POSSIBLY high taxes...which is ridiculous for houses with prices that low.

We've purchases properties for as low as 5k in west michigan...least HERE we can actually put tenants in these properties because rental market is strong.

You should find the cheapest real estate in the countries which having economical growth rate low. As well as compare dollar, rupee or pond rate with that country's money. Then you can get idea that in this country the real estate are at cheapest rate.

This post has been edited by lifeprotect: Mar 24 2010, 09:16 PM

Albania can be an idea for people with a sense of adventure. They've become a candidate NATO-member (with major support of the US) and I'm pretty sure they have EU-membership ambitions as well in the mid-term.

If they can bring down corruption and organised crime their future definitely looks bright.... hard to say how long that will take of course.

From a European point of view Egypt seems to become the 'new Turkey' with cheap real estate at coastal resorts at the Red Sea. Not sure I want to live there though, enormous heath in the summertime...

Prices in Bulgaria are indeed extremely low these days...

You can buy cheap real estates in Bangladesh but it will be difficult to sell these properties later on.

Africa is a good choice. There are lots of western people based in Africa. Also the tourism in Africa is high.

Completely agree. But who wants to live there? And that's the answer why it is cheapest.

Unfortunately Michigan, and namely Detroit has the cheapest real estate right now.....but it also has one of the lowest income of a state overall.....there are talks of a new automotive plant opening up again, but when? And, is 1 automotive plant going to save the city in the next 5 years? My client holds a huge amount of mortgages in Michigan (it is close to 50% of my current accounts)....sheesh, I have $3,000.00 in savings and could buy a 5 bedroom house with about 3000 sq feet on a short sale...but why?

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I would include this information about the Top 5 Cheapest Countries in the World that possess cheapest real estate.

I agree with the above statement. There may be parts of Africa or Eastern Europe where there are incredibly cheap properties. For the purposes of flipping and selling real estate this may be ideal, but investing in a place you would actually want to live is different.

Being from the United States I can't really speak to actual markets in these types of places, but the cheapest areas in the state include:

Detroit, MI
Pittsburgh, PA
Rochester, NY
Memphis, TN
Tampa, FL
Celeveland, TN
Dayton, OH
Columbia, SC
Orlando, FL
Dallas-Forth Worth, TX

I've always heard that land in Wyoming is dirt cheap. But it's probably not good for much unless you want to start your own cattle ranch or something :/

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