The 10 cheapest and most expensive places to buy property in Portugal in 2022

When it comes to buying property in Portugal, in a context of high inflation and rising interest rates on mortgages, one of the factors to pay special attention to are house prices in Portugal which are on the rise. What is the cheapest place to live in Portugal? If you are thinking of moving abroad and want to buy property, take note of these 10 places where you will find the cheapest property in Portugal. On the other hand, it's also important to be aware of the most expensive places to buy property in Portugal when searching for your new home so that you can get the best deal possible. We have all the details. 

Portugal house prices 2022

The most recent data from the National Statistics Institute in Portugal (INE) shows that the average price of houses in Portugal is 1,346 euros per square metre (euros/m2), taking into account property sales made between April 2021 and March 2022. This figure is up +3.8% compared to the previous quarter and +12.4% year-on-year, according to a report published by INE in July 2022. 

Of the 300 Portuguese municipalities with available data, there are 46 areas where house prices are higher than the national average in this period. On the other hand, the vast majority - 245 municipalities in particular - have average house prices of less than 1,346 euros/m2.

In the analysis of house prices in Portuguese municipalities, INE does not have data available for 8 municipalities: Boticas, Penedono, Alfândega da Fé, Vimioso, Barrancos, Lajes das Flores, Santa Cruz das Flores and Corvo.

The 10 municipalities with the cheapest property in Portugal

The cheapest places to buy property in Portugal, prices in euros/m2 idealista

The cheapest property in Portugal is mainly concentrated in the country's inland regions and provinces. Of this list, 5 municipalities are located in Guarda, one in Viseu, one in Castelo Branco and another in Bragança. There is also one in Coimbra (Pampilhosa da Serra) and another on Graciosa Island, in the Azores (Santa Cruz da Graciosa).

It is in Figueira de Castelo Rodrigo, in the district of Guarda, where it is possible to buy the cheapest houses in Portugal, with a cost of 177 euros/m2 in the period for the last 12 months ending in March 2022. Here a 100m2 house can cost as little as 17,700 euros.

Just behind is the village of Sernancelhe, in Viseu, where buying a house has a cost of 220 euros/m2, the data shows. Vila Velha de Ródão, in Castelo Branco, comes in third place among the cheapest places to buy property in Portugal in 2022 (224 euros/m2).

The most expensive places to buy property in Portugal

The most expensive places to buy in Portugal, average prices in euros/m2 idealista

On the side of the most expensive places to buy a house in Portugal, the province of Faro in the Algarve is the one that gathers the highest number of towns (5) in this top 10. Just behind is the province of Lisbon, represented by 4 municipalities. The Porto province has only 1, which is the city of Porto itself: it is in the sixth position, with a cost of 2,332 euros/m2 in the last 12 months ending in March 2022.

Unsurprisingly, the municipality where buying a house is most expensive in Portugal is Lisbon, costing 3,642 euros/m2. This means that a 100m2 property has an average cost of over 364,000 euros, and is therefore around 20 times more expensive than a house for sale in Figueira de Castelo Rodrigo, the municipality that has the country's cheapest homes for sale.

In second place is Cascais, also in Lisbon, where buying a house costs 3,184 euros/m2 on average. In third place is Loulé, in Faro, with an average cost of 2,750 euros/m2, INE reveals. All the municipalities in this ranking of the 10 most expensive to buy a house have values per square metre higher than 2,000 euros.