For instance, YouTube Premium charges 12€ in my home country. However, where I’m staying now they would charge less than 3€.
So, if I would like to take advantage of this, I assume I’d need to create a new Google/YT account, which would mean I’d lose all subs, playlists etc that I’ve created?
Or am I missing something here?
You can change your Google account country, but I think you are limited to once a year or something like that and proof is needed.