We break down the cheapest (and not so cheap) places to buy property in Portugal / Gtres
We break down the cheapest (and not so cheap) places to buy property in Portugal / Gtres

When choosing where you want to buy a house, in addition to the comfort factor with respect to work or family, we also have to take into account the price per square metre or square foot of housing in the areas we are considering.

So what are the cheapest destinations for real estate in Portugal? Let's look at which are the most expensive places for those who want to buy a home, and which are more affordable.

In Portugal, demand from other countries has increased considerably over recent years, in Lisbon and the Algarve in particular, and gold visas and other tax incentives from the government have been very successful in attracting the interest of lots of ex-pats.

You’ll love the Algarve

Faro, Portimão and Albufeira are places that are continuing to grow. It’s true that the economic crisis of the last few years has also been felt here, but according to the most recent estimates, the number of tourists has grown dramatically in recent years and people who choose to live permanently in this region are increasing.

Some prefer more urban and dynamic centres throughout the year such as Faro and Portimão and others, smaller cities that still have all the commodities they need. Albufeira has always been very popular with the English and Irish, as has Lagos, a touristic and historical centre from which Portuguese sailors set off on expeditions to the coasts of Africa.

Bargains in Portugal

In Quarteira, also in the sunny beach resort region of the Algarve, you can get a three-bedroom apartment for 150,000 euro in the old town. It will probably need a bit of renovation, but will certainly attract rent after a makeover, if you want to use the house as an investment when you’re not there.

The western side of the Algarve is a very interesting option, but if you have a limited budget you might want to give Lagos a miss as prices have risen a lot there in recent years.

If you have decided to buy in the capital city of Lisbon and want a good value for money, forget about the Chiado district, where prices have skyrocketed in recent years. Choose instead to look in the elegant and increasingly popular district of Lapa or in Alfama, the historical neighbourhood that borders the Tejo estuary.

While British interest in Portugal over the last 50 years has been focused on the southern half of the country, especially the Algarve, on the other side of the country, the lush, green valleys of the Douro are becoming more popular and have very appealing prices.

Lastly, for a final bargain, check out the city of Caldas da Rainha, about an hour from Lisbon. It’s a bit of a hidden gem, with a secluded beach, a small-town feel and small-town prices to match. It’s something of a real estate secret and now you’re in the loop, so shhh!