Compared to the rest of Europe, it's not that hard to find cheap property for sale in Lisbon. We have the details.
House prices in Lisbon in 2021
House prices in Lisbon in 2021

Lisbon is the second cheapest capital city to buy property in Western Europe. How much does property cost in Lisbon? In the Portuguese capital it is possible to find a home for 227,751 euros, with the average cost of living being 1,048 euros per month per person. Only Brussels is more affordable: for 221,073 euros it is possible to live in the heart of the European Union, while the average cost of living in the Belgian city is 1,255 euros per month. This is based on data from the British company CIA Landlord Insurance, which ranks the main capital cities according to the respective average price of buying a house. Let's have a closer look. 

Focusing on the city of Lisbon, it is important to point out that, according to the report, buying a house in the city centre costs 4,547 euros per m2. However, if you want to live in the Portuguese capital, it is possible to find cheaper property for sale on the outskirts, where average prices drop to 2,653 euros per m2. Another important element to point out about buying property in Lisbon is that, on average, those who take out a mortgage to buy a house in the city spend 58 years paying back the money. This is the highest value of all the countries analysed. 

With regard to the price of renting a flat in Lisbon, being a tenant costs on average 860 euros per month, in a country where the average net salary is 848 euros per  month. Prices have also been mildly affected by the coronavirus pandemic, however the effect in Lisbon has been less pronounced and in some cases, prices have risen. 

Returning to the ranking of the cheapest cities to buy a house in Europe, Madrid completes the podium of the most affordable places to buy property. In the Spanish capital, a property costs an average of 246,752 euros, the equivalent of 4,965 euros per m2 in the city centre and 3,065 euros on the outskirts. 

Paris is the most expensive city 

At the other end of the table, i.e. leading the list of the most expensive cities to buy a house in Western Europe, is Paris, where a property costs an average of 620,809 euros. A house in the centre of the French capital costs on average 13,710 euros per m2 while in the suburbs, prices only drop to 10,380 euros per m2. In Paris, the average cost of living is 1,762 euros and the average net salary of residents is 2,870 euros

The podium is completed by London (UK) and Luxembourg (Luxembourg), which occupy the second and third places on the podium respectively. In these 2 metropolises, buying a home costs, on average, 581,395 and 557,825 euros, in that order. If the property is located in the city centre, the amount payable is 12,890 and 11,247 euros per m2. 

Also included in the top 5 most expensive cities to buy property in Europe are Stockholm (Sweden) and Bern (Switzerland), with average prices of 426,051 and 410,435 euros respectively. Buying a house in the centre of the Swedish capital costs something like 9,847 euros per m2 while in the centre of the Swiss city the figure drops a little, to 7,187 euros per m2.