Where is the cheapest real estate in Portugal? We have all the details of the cheapest and most expensive places to live in Portugal.
Where is the most affordable property in Portugal?
Where is the most affordable property in Portugal? Unsplash

2022 for many people is a year of new beginnings; not least because many trends identified during the COVID-19 pandemic are here to stay. As a consequence of the pandemic, the search for the perfect combination between work and quality of life has led many people to want to move house, and even to move to another country. If you're planning to move to Portugal and want to get the best deal on your new home, considering where the most affordable property in Portugal is found will be important. Where is the cheapest real estate in Portugal? And the most expensive? With the help of idealista/data, we have all the details of the cheapest places to buy property in Portugal in 2022

New property trends in Portugal

Everything changed with the COVID-19 pandemic. Geographical limitations no longer exist for many professionals who now have the possibility of continuing to exercise their profession by teleworking. In many cases, this can even be done from abroad and many foreigners are making a move to the sun for a better life.

People have realised that our homes are the centre of everything, and spacious rooms and exterior spaces, such as balconies, gardens and terraces are now more valued than ever. And all these changes have been reflected in a higher demand for homes during the last two years and also in the rise in sales in Portugal.

Increasing house prices in Portugal

In Portugal, the demand for homes continues to exceed the supply of existing homes in the country, whether for purchase or rent, and there are even homes that stay on the market for less than a week. As a result, house prices have skyrocketed, as a recent study by idealista confirms:

  • Buying property in Portugal was 1.2% more expensive in the first quarter of 2022 compared to the previous quarter and the national average was set at 2,352 eurosm2;
  • Renting property in Portugal became +2.6% more expensive between these two points in time and the monthly rent stood at 990 euros per month on average in the first quarter of 2022.

With widespread price rises driven by soaring inflation in Portugal, it now matters more than ever where it is most expensive and cheapest to buy property in Portugal. 

The cheapest place to buy property in Portugal in 2022

What are the 20 cheapest municipalities to buy a house in Portugal? It is within the central region of the country where the cheapest houses for sale are concentrated. Combing through the ranking that brings together the 20 Portuguese municipalities that have the most economic house prices between January and March 2022, it is apparent that seven are located in the district of Guarda, four in Viseu, three in Castelo Branco and three in Portalegre. The districts of Bragança, Coimbra and Santarém are represented by one municipality each.

The municipality of Penedono, in the district of Viseu, is the cheapest place to buy property in Portugal, with average prices of 305 euros/m2 - a value almost eight times lower than the national average. Note that this value of "305 euros/m2 is well away from the 5,130 euros/m2 recorded in the municipality of Lisbon (the maximum recorded)", underline the specialists at idealista/data.

Just behind, and therefore the second cheapest place to buy a house in Portugal, is the municipality of Fornos de Algodres, in Guarda, where houses for sale cost 364 euros/m2 on average. Third place is occupied by Vila Velha de Ródão, in Castelo Branco, where buying a house costs 390 euros/m2.

In this ranking of the cheapest places to buy in Portugal, the unit values of these houses for sale vary between 305 euros/m2 (in Penedono) and 476 euros/m2 in Sardoal, district of Santarém. All present values, at least, five times lower than the national average (2.352 euros/m2).

The 20 cheapest municipalities to buy a house in Portugal showing the average price in euros/m2:

Cheapest place to buy
idealista

Where are the most expensive properties for sale in Portugal?

Unsurprisingly, the list that brings together the 20 places in Portugal with the highest house prices is led by Lisbon, where buying a home costs 5,130 euros/m2 (double the national median). Just behind is Cascais, a municipality where buying a house costs 4,021 euros/m2 on average, in the first quarter of the year. The top three is completed with the municipality of Grândola, in the district of Setúbal, where the average price of homes was set at 3,850 euros/m2.

The dispersion of the values presented in this ranking of the 20 municipalities where it is most expensive to buy a house in Portugal is striking, since between the highest average price (5,130 euros/m2, in Lisbon) and the lowest (2,257 euros/m2, in Portimão) there is a difference of 2,837 euros/m2, according to the data.

It should also be noted that the most expensive places to buy a house in Portugal are mainly located in the Algarve, with 10 towns located in the district of Faro. The Algarve is followed by municipalities in the district of Lisbon (five), the district of Setúbal (three) and the district of Porto (two).

The 20 most expensive places to buy a house in Portugal showing the average price in euros/m2:

Most expensive
idealista

Property for sale in Portugal 

For all of your property needs, check out our large selection of property for sale in Portugal and find your next home.