While Portugal has experienced a significant increase in property prices in recent years, there are still undiscovered cheapest cities in Portugal where buyers can find their dream property. According to data from the National Statistics Institute (INE), out of Portugal’s 304 municipalities, 254 have house prices below the national median. This means that the vast majority of regions across the country offer more affordable housing options compared to larger urban centers like Lisbon, the Algarve, and Porto. This article will uncover some of the “cheapest cities” in Portugal.
Between October 2022 and September 2023, the median price for houses sold in Portugal stood at 1,579 euros/m2, reflecting a 2.5% increase compared to the previous year. However, only 49 municipalities out of the 304 analyzed had prices higher than this median.
This data underscores the significant disparities in housing costs across different regions of Portugal. While urban centers experience upward pressure on prices due to demand, many municipalities offer more affordable options for potential homebuyers. This suggests that individuals seeking budget-friendly housing alternatives may find favorable opportunities in areas outside of major cities.
Most Cheapest Cities in Portugal in 2024:
According to data from the Portuguese National Statistics Institute, homebuyers seeking more affordable options may find opportunities in several municipalities located in the interior regions of the country. Among these cheapest cities in Portugal is Figueira de Castelo Rodrigo, situated in the Guarda district, which boasts the lowest median prices, averaging just 140 euros per square meter. In this municipality, one could potentially purchase a 100-square-meter house for a mere €14,000.
Following closely behind is Mêda, also located in the Guarda district, with a median house price of 163 euros per square meter. Meanwhile, Sernancelhe, nestled in the Viseu district, offers homes at a median price of 197 euros per square meter.
Rounding out the list of the most affordable municipalities for homebuyers are Mogadouro, situated in Bragança, and Pampilhosa da Serra, located in Coimbra. In these areas, the median cost per square meter stands at 298 euros.
It’s worth noting that while these municipalities offer budget-friendly housing options, buyers should carefully consider factors such as location, infrastructure, and amenities before making a decision. Additionally, engaging with local lawyer/real estate professionals can provide valuable insights and assistance throughout the homebuying process.
Cheapest cities in Portugal in 2024:
- Figueira de Castelo Rodrigo (Guarda district): €140/m2
- Mêda (Guarda district): €163/m2
- Sernancelhe (Viseu district): €197/m2
- Mogadouro (Bragança district): €298/m2
- Pampilhosa da Serra (Coimbra district): €298/m2
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