Where is it cheap and expensive to buy property in Portugal?

According to INE, in Portugal, the average cost per square meter of housing is €1,509 euros for the last12 months ending in March2023 (+12.1% compared to the same period the previous year).

However, in251 out of300 municipalities for which data is available for this period (out of a total of308 municipalities), housing prices were significantly lower than the national median, as shown in the idealista report. Among them, in193 municipalities, prices for sold houses were less than1,000 euros/m2, and in64 municipalities, prices were below500 euros/m2.

To find the cheapest municipalities to buy housing, you need to head inland where the average property price is less than €30,000, according to data from the national statistical agency. Figueira de Castelo Rodrigo is the cheapest municipality in the country, with a median price of143 euros/m2 from April2022 to March2023. In other words, a100 m2 house costs around €14,300 in this municipality in Guarda district. The second cheapest municipality to buy a house in Portugal is Sernancelhe in Viseu district (201 euros/m2), followed by Fornos de Algodres in Guarda district (217 euros/m2).

As expected, the most expensive municipalities for purchasing housing in Portugal are located in the major urban centers of the country - in the districts of Lisbon, Faro, and Porto. The capital city ranks first, where homes were sold at a median price of €3,965/m² over the last year ending in March 2023. Following it are Cascais and Oeiras, also in the Lisbon district, where the prices of sold homes were €3,574/m² and €3,093/m² during this period, according to data from the Portuguese statistical agency.

In this list, there are four municipalities in the Algarve: Loulé, Lagos, Aljezur, and Vila do Bispo, where buying a house was more expensive than in Porto in the last year. It is worth noting that the municipality of Porto ranks eighth, with a median house price of €2,609/m². At the end of the list of the 10 most expensive municipalities, where buying a house is the most costly, are Albufeira (€2,586/m²) in the Algarve and Odivelas (€2,448/m²) in Lisbon.