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How Much Does a House Cost in Portugal? See Examples of Costs

11 de June, 2023

How Much Does a House Cost in Portugal? See Examples of Costs

Wherever you decide to buy in Portugal, rest assured that there will always be a property for your budget, needs and preferences.
Reading: 5 min

In droves, foreigners have been arriving in Portugal, especially Brazilians and Americans. Some stay for a few days, others decide never to leave. Some promote the destination and bring friends and family. With their wallets full, many of them are willing to buy houses here. Either to invest or even to live. As a result, real estate prices in the country have had a spectacular recovery. Considering the national average, the value of the square meter has risen about 133% in Portugal in the last 8 years. Lisbon registered an increase of around 166% during this period, while in Porto it was 146%. With all this appreciation in recent years, the question arises: what will it be possible to buy in 2023? Find out in this article how much a house costs in Portugal .

How much does a house cost in Portugal?

The real estate market is booming in the European Union (EU). Portugal has been standing out with a percentage increase above the European average. Regardless of the region you choose to buy property in Portugal, you can rest assured that you will certainly find options that suit your budget, needs and preferences. Currently, the square meter in Portugal (national average value) is 2.512€. Let’s see which are the most expensive and the cheapest regions of the country.

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The size of the instalment

Despite inflation and the rising Euribor rate, real estate financing in Portugal is still more affordable compared to many countries. At the moment, rates hover around approximately 3.7% per year. A loan of 100,000 euros, with a term of 30 years, results in an average monthly payment of 500 euros. With this interest rate and considering the high rental values, buying a property instead of renting it still makes sense. This remains the most economically advantageous option.

The 5 most expensive locations

The most expensive properties in Portugal, according to the research done by the site Idealista includes cities in the districts of Lisbon, Faro (Algarve region), Porto and also Madeira (Island):

AlbufeiraFaro317.200 €

CidadeDistritoAverage apt 100 m²
LisboaLisboa531.000 €
CascaisLisboa460.000 €
OeirasLisboa385.300 €
LouléFaro379.300 €
LagosFaro358.500 €
PortoPorto339.000 €
FaroFaro279.600 €
OdivelasLisboa266.700 €
Madeira254.000 €
Vila do BispoFaro251.200 €
Fonte: Idealista.pt

The 5 cheapest locations

The cheapest properties in the country are found in smaller cities in districts such as Beja, Bragança, Castelo Branco, Aveiro and Porto.

CidadeDistritoAverage apt 100 m²
SerpaBeja66.300 €
GuardaGuarda79.500 €
CovilhãCastelo Branco83.300 €
BragançaBragança89.100 €
AroucaAveiro91.100 €
Oliveira de AzeméisAveiro103.500 €
OuriqueBeja105.800 €
Santo TirsoPorto112.200 €
ParedesPorto117.800 €
São João da MadeiraAveiro126.600 €
TrofaPorto127.000€
Santa Maria da FeiraAveiro127.400 €
Fonte: Idealista.pt

What can you buy with $200,000 in Lisbon and Porto?

Even though it is possible to acquire great properties in small towns, a doubt arises for those who wish to be close to large metropolises such as Lisbon or Porto.

The determining factor for finding more affordable real estate in these metropolises is the commuting time to the center. The Portuguese have a perception of traffic that is quite different from some foreigners, such as Brazilians, who are used to the intense congestion of big cities.

While a Paulistano considers a 30 minute commute excellent, a Portuguese person sees it as excessive. Consequently, he devalues the areas that demand so much time. In Greater Lisbon, the neighborhoods and cities along the famous Sintra line are where the most affordable real estate options are found.

Based on the prices disclosed on the Specialist website, learn how much a house in Portugal costs and find out what it is possible to buy with a budget of 200,000 euros.

Lisbon Metropolitan Area

Agualva e Mira (Sintra)

With 200,000 euros and at a distance of 23 km from the center of Lisbon, it is possible to buy a new, newly built 1-bedroom apartment with 74 m² in the Agualva e Mira (Sintra) region.

Vila Franca de Xira

In the district of Lisbon, in the municipality of Vila Franca de Xira, it is possible to buy a used property and in a good location, as long as you carefully evaluate the possibility of doing a renovation. It is possible to buy a two-bedroom apartment with 89m² of gross floor area in Póvoa de Santa Iria and Fortes da Casa, on the first floor of the building (first floor).

District of Porto

Porto is still more affordable than Lisbon. In the Gandra area, there is a huge offer of studios (T0) and 1-bedroom apartments (T1) recently built or still under construction, with values starting at 99 thousand euros. In Vandoma, a brand new 2 bedroom apartment in a good area, and with an area of 160m2, is being marketed for 180 thousand euros. This is less than 30km from the center of Porto.

How much do I need to live in Cascais?

Cascais is one of the most popular regions among Brazilians for its relaxed atmosphere, proximity to Lisbon and excellent quality of life, access to the sea and public transportation.

To conquer the dream of living with enough space for a family in the best regions of Cascais you need to spend at least 400,000 to buy a two-bedroom apartment with 85m², used, but in good condition. used, but in good condition.

How much do I need to live in style?

To live in style in Lisbon the values already change completely. A property with good finishings in a first class neighborhood, such as Estrela requires the buyer to pay 700,000 for a two-bedroom apartment of 120 m². In contrast, the best neighborhood in Porto, the famous Foz do Douro, has apartments of the same size for 500,000€.

Now that you have an idea of how much a house in Portugal costs, we remind you that to make the purchase or financing of a property you need knowledge of the Portuguese real estate market and the Portuguese legislation, to do everything according to the law.

Does buying real estate in Portugal give citizenship?

Buying a property in Portugal does not automatically guarantee that you will obtain Portuguese citizenship Portuguese citizenship. However, Portugal has a Residence Permit for Investment Activity program, known as “Autorização de Residência para Atividade de Investimento program, known as ”
Golden Visa
“. It allows foreigners to obtain a residence permit in Portugal through qualified investments, including
purchase of real estate with values starting at 280k euros
.

After a five-year period it is possible to apply for Portuguese citizenship by naturalization, as long as you meet the requirements established by the Portuguese authorities, such as proving basic knowledge of the Portuguese language, integration in the community and absence of criminal record.

We suggest doing the whole process accompanied by an experienced and reliable broker and with the support of a consulting company. We, from Atlantic Bridge, can help you throughout the process.

It is important to note that the program has very specific rules and that not all properties worth more than 280k€ are eligible. It will depend, above all, on its location. In addition, the Portuguese government is about to close this program. If you are interested in the program, we recommend that you hurry. Talk to our consultants and find out how to apply.

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Author:

Atlantic Bridge

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