There is a significant disparity in Portugal regarding house prices for purchase. In the major urban centres of Lisbon, Porto, and Faro, housing costs are quite high and often out of reach for middle-class families. However, in the interior of the country, it is possible to find much cheaper houses for sale. In fact, in 12 municipalities, you can buy a 100-square-metre house for less than 30,000 euros.
Much has been said about the rapid rise in house prices in Portugal. The National Institute of Statistics (INE) revealed on Thursday, January 30th, that the average cost of homes sold in Portugal reached 1,709 euros per square metre (euros/m²) in the last 12 months ending in September 2024. This is about 3% higher than the value recorded in the same period ending in June.
The truth is that the national average housing cost is driven by high prices in only 53 municipalities. This means that in the vast majority of the national territory – in 250 of the 303 municipalities with significant samples – it is possible to buy a 100 m² house for less than 170,000 euros.
The 10 cheapest places to buy a house in Portugal
To find the most affordable houses for sale, you need to travel to the interior of the country. The cheapest municipality of all is Pampilhosa da Serra, in the district of Coimbra, where the median cost of buying a house was 220 euros/m² in the last 12 months ending in September 2024. This means a 100 m² house was sold for 22,000 euros during this period.
The second cheapest municipality to buy a house is Mação, in the district of Santarém, with a price of 243 euros/m², followed by Vimioso (district of Bragança) and Figueira de Castelo Rodrigo (Guarda), where buying a house cost 250 euros/m² in both cases. Therefore, in these municipalities, it is possible to acquire a 100 m² home for 25,000 euros or less.
The 10 cheapest municipalities to buy a house in Portugal all have average values lower than 300 euros/m² – meaning a 100 m² house costs less than 30,000 euros. In addition to these, there are two more municipalities with average prices below this threshold: Fornos de Algodres and Santa Cruz da Graciosa, according to INE data.
Where buying a house is most expensive in Portugal
The disparities in prices across Portugal become clear when analysing the 10 most expensive municipalities to buy a house: all have an average cost above 2,750 euros/m². This means a 100 m² home was sold for at least 275,000 euros in the last year ending in September.
As expected, the most expensive municipalities for purchasing a house are located in three major districts: Lisbon, Porto, and Faro. In fact, the municipality of the capital had the highest median price of all (4,252 euros/m²), followed by Cascais (4,023 euros/m²) and Lagos (3,389 euros/m²).
Municipalities in the Algarve dominate the top 10 of the most expensive places to buy a house, represented by 6 municipalities. Next are areas in the Lisbon district (3). Porto is the only municipality in the North to appear on this list, ranking seventh with a median house price of 2,940 euros/m².
Where to buy property for less than 150,000 euros in Portugal
People have been buying homes in Portugal at increasingly higher prices, with the average cost reaching 221,272 euros in the summer of 2024. However, the regions show significant differences in the prices of homes sold, reveals the National Statistics Institute (INE): while in Greater Lisbon and the Algarve, purchasing property is 50% more expensive than the national average, in Alentejo and the Central Region, the average cost of buying a home is under 150,000 euros, making them the cheapest re
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