In Portugal, households face the challenge of finding homes they can afford. This is especially difficult at a time when the cost of living has skyrocketed and the price of houses to buy keeps rising (albeit at a slower rate), without wages keeping pace. And for those on low incomes looking for more affordable housing, there's no good news: only 15% of homes for sale in Portugal during the fourth quarter of 2023 were priced below 150,000 euros, according to a study published by idealista.
The majority of houses for sale advertised on idealista during this period were villas (62 per cent), with only 38% being flats. As for the type of house, the most significant were two-bedroom properties (38%), followed by those with three bedrooms (30%), one bedroom (16%), four bedrooms or more (12%) and, lastly, studios (4%), according to the study by idealista, the real estate marketplace for southern Europe.
Houses for sale for less than 150,000 euros in Portugal: which areas have the most?
The heterogeneity of the Portuguese property market is reflected in the wide variation in the weight of housing priced under 150,000 euros in each district and island. In 14 territories, at least 40% of the homes for sale are affordable, while in 5 this figure is less than 10%.
In the most dynamic markets - close to the major urban centres - there is little housing below this price, as is the case in Faro, where only 3% of the houses for sale were priced below 150,000 euros. This is followed by the island of Madeira (4%), the island of Porto Santo (4%), and the districts of Lisbon (5%) and Porto (7%).
At the other end of the spectrum are the districts and islands that usually have the cheapest houses for sale, such as Guarda, where 75% of the listings are under 150 thousand euros. This is followed by Portalegre (74%), Bragança (61%), Castelo Branco (61%), Beja (60%), Graciosa Island (60%), Flores Island (55%), São Jorge Island (49%), Vila Real (49%), Viseu (48%), Santa Maria Island (45%), Évora (44%), Santarém (43%) and Terceira Island (40%).
With an intermediate offer of houses for sale for less than 150,000 euros are 9 districts and islands, such as Coimbra (39%), Faial Island (36%), Pico Island (30%), Viana do Castelo (26%), Leiria (24%), São Miguel Island (20%), Aveiro (18%), Braga (16%) and Setúbal (12%).
There are more 2-bedrooms for sale for less than 150,000 euros
Among the housing on sale for less than 150,000 euros, properties with two bedrooms are the most common in most districts, with the exception of Viseu, Vila Real, Guarda, Leiria, Castelo Branco, Santarém, Bragança, Portalegre and the island of Flores, where three-bedrooms predominate.
Setúbal is the district where two-bedroom homes predominate, accounting for 58% of the supply under 150,000 euros. This is followed by the island of Pico (54%), the island of São Jorge (47·%), the island of Faial (47%) and Lisbon (45%). In Porto, two-bedroom properties account for 40% of the total.
Studios are the least common type of property on offer for less than 150,000 euros in almost all districts - on the island of Porto Santo, Graciosa and Flores they are practically non-existent. In Portalegre, Évora and Beja, only 1% of the properties on offer for less than this amount are studios. In Faro (19%), Braga (10%), Lisbon (6%), Madeira (6%) and Porto (6%), the weight of studios is greatest.
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