How much it costs to buy a house in Portugal
The Idealista portal has published an evaluation of the regions where it is cheapest to buy a house in Portugal. Experts analysed the country’s property market and selected 25 municipalities to compile the list.
At the top of the list is the village of Gavian, in the district of Portalegre. Buying a house here costs €401 per square metre, which is lower than in other regions of Portugal. The following places on the list are:
– in second place is a settlement in the municipality of Guarda, where sellers ask €404 per square metre;
– in third position is Nisa, located in Portalegre, where the price of a property is €430 per square metre;
– fourth place is Penamacor in the municipality of Castelo Branco, where a square metre of house costs €433;
– in fifth place is the small town of Selorico da Beira in Guarda, where the asking price is €443 per square metre.
In addition to these locations, affordable houses are available in the municipalities of Gois, Coimbra, Pinhel and others. The price per square metre in these areas does not exceed €450. Among the cheapest regions in Portugal, Idealista also highlighted Penacova and Leiria, where the price per square metre of housing is €497.
Most expensive houses in Portugal
The portal also ranked the regions with the highest prices, in addition to the cheapest homes:
– in the first place is Lisbon, where a square metre of house costs €5351;
– followed by Grandola (€4704 per square metre);
– Cascais comes third with €4627 per square metre;
– in Oeiras, it costs €3967 per square metre to buy a house;
– in Lola, one square metre costs €3,842.
It is worth noting that demand for housing in the country remains high, particularly in the major cities.
Overview of the property market in Portugal
Over the past few years, the property market in Portugal has become extremely popular with foreign buyers. Demand for houses and apartments is increasing, and prices are falling. According to INE, foreigners bought property in Portugal for an average of €2411 per square metre in the first quarter of 2023. This figure is 58% higher than the price paid by locals. Of the 14 municipalities analysed, only three had lower prices for foreigners than for local buyers. In three other regions, the price difference exceeded 58%. In Lisbon, for example, foreign buyers paid almost 72% more than Portuguese buyers for houses and flats.