For many people, the house prices in Portugal are a reason to invest in Portuguese real estate. Buying a house in Portugal is appealing, as Portugal offers a rich cultural heritage, stunning landscapes, a favorable climate, and a relatively affordable cost of living compared to many other European nations. If you are considering purchasing a property in the country, you may wonder about the average house prices in Portugal. Portugal offers diverse housing options, from charming countryside villas to modern apartments in cities and coastal homes.
Average house prices in Portugal
House prices in Portugal are rising. According to the National Statistics Institute of Portugal, during the first quarter of 2022, the average house price in Portugal stood at €1,454 ($1,585) per square meter. This figure reflects a year-on-year growth rate of 17.2%, marking a significant increase compared to the previous quarter’s growth rate of 14.1% in the Portugal house price index. Although the house prices in Portugal are rising, buying a home in Portugal is still very affordable.
How much does it cost to buy a house in Portugal?
The cost of buying a house in Portugal can vary widely depending on several factors, such as the location, size, condition, amenities, and market demand. Generally, Portugal offers a range of housing options at various price points to accommodate different budgets. Below is a list of house prices in Portugal from Portuguese cities.
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Average house prices in Lisbon
Lisbon is the capital city of Portugal. The city’s distinctive architecture, delicious local cuisine, and laid-back atmosphere offer a welcoming experience, especially for first-time tourists in Portugal.
In Lisbon, the average price per square meter for houses is among the highest in Portugal housing prices. It is approximately €5,916 ($6,448), showing an increase of over 12% over the past year. The following table shows the specific average prices for different types of houses.
| Property type | Average price |
|---|---|
| Apartment studio | €483,548 ($527,067) |
| 2-room apartment | €453.28 ($494) |
| 3-room apartment | €517,022 ($563,554) |
| 4-room apartment | €730,833 ($796,608) |
| 5-room apartment | €804,259 ($876,642) |
| Houses with 4 rooms | €950,000 ($1.04 million) |
| Houses with 5 rooms | €1.45 million ($1.58 million) |
| Houses with 6 rooms | €1.24 million ($1.36 million) |
| Houses with 7 rooms | €1.87 million ($2.03 million) |
| Houses with 8 rooms | €1.8 million ($1.97 million) |
Average house prices in Porto
Are you searching for the average house price in Porto, Portugal? Porto is most renowned for producing Port wine, a sweet fortified wine in the region for centuries. Porto’s historic Ribeira district, with colorful buildings and narrow streets, is a UNESCO World Heritage site and a popular tourist destination. The city also has the iconic Dom Luís I Bridge, which spans the Douro River and offers stunning cityscape views.
The average house price in Porto, Portugal, per square meter is approximately €3,126 ($3,407), reflecting a more than 7% growth in the last year. The table below shows the average house prices in Porto for different types of houses in the area.
| Property type | Average price |
|---|---|
| Apartment studio | €230,333 ($251,063) |
| 2-room apartment | €299,667 ($326,637) |
| 3-room apartment | €399,833 ($435,818) |
| 4-room apartment | €433,226 ($472,216) |
| 5-room apartment | €450,000 ($490,500) |
| Houses with 4 rooms | €583,167 ($635,652) |
| Houses with 5 rooms | €698,333 ($761,183) |
| Houses with 6 rooms | €673,333 ($733,933) |
| Houses with 7 rooms | €744,167 ($811,142) |
| Houses with 8 rooms | €783,333 ($853,833) |
Average house prices in Algarve
Algarve is most famous for its pleasant climate, particularly for beach lovers. The city has stunning beaches, incredible cliffs, and crystal-clear waters. The region offers a range of recreational activities, including surfing, sailing, and diving.
In the Algarve region, the average price per square meter for houses is around €3,533 ($3,851), showing a growth rate of over 12% in the last year. The table below shows the average prices for houses in the Algarve, which makes it easier to compare them to the costs of other homes for sale in Portugal.
| Property type | Average price |
|---|---|
| Apartment studio | €232,140 ($253,033) |
| 2-room apartment | €315,000 ($343,350) |
| 3-room apartment | €380,000 ($414,200) |
| 4-room apartment | €395,667 ($431,277) |
| 5-room apartment | €408,333 ($445,083) |
| Houses with 4 rooms | €675,000 ($735,750) |
| Houses with 5 rooms | €881,667 ($961,017) |
| Houses with 6 rooms | €986,667 ($1.08 million) |
| Houses with 7 rooms | €1 million ($1.09 million) |
| Houses with 8 rooms | €1.03 million ($1.13 million) |
Average house prices in Albufeira
You can visit Albufeira for a less touristy version of the Algarve. Its beautiful sandy shores, such as Praia dos Pescadores and Praia da Oura, attract sunseekers and water sports enthusiasts. Albufeira’s old town, with its cobblestone streets and traditional charm, offers a glimpse into its rich history and Portuguese culture. Albufeira also boasts a bustling nightlife scene, with numerous bars, clubs, and live music venues catering to visitors seeking entertainment and fun after sunset.
In the enchanting town of Albufeira, the average cost per square meter for houses is approximately €3,604 ($3,928). It indicates an impressive growth rate of over 13% in the past year. The table below shows the average prices for various houses in Albufeira.
| Property type | Average price |
|---|---|
| Apartment studio | €190,500 ($207,645) |
| 2-Room apartment | €283,167 ($308,652) |
| 3-Room apartment | €526,667 ($574,067) |
| 4-Room apartment | €381,500 ($415,835) |
| 5-Room apartment | €580,000 ($632,200) |
| House with 4 rooms | €874,167 ($952,842) |
| House with 5 rooms | €905,000 ($986,450) |
| House with 6 rooms | €995,000 ($1.08 million) |
| House with 7 rooms | €1.16 million ($1.26 million) |
Average house prices in Braga
Braga is known as the “Rome of Portugal” due to its numerous churches, including the iconic Bom Jesus do Monte sanctuary. The city also hosts religious festivals, such as the Holy Week processions and the São João Festival, which showcase the city’s deep-rooted traditions and cultural heritage.
The charming city of Braga offers more affordable options compared to other Portugal housing prices. The average house price per square meter is approximately €1,507 ($1,643). It represents a growth rate of over 18% in the past year. The table below shows the average prices for various houses in Braga, giving you a comprehensive overview of the Portugal house for sale.
| Property type | Average price |
|---|---|
| Apartment studio | €158,833 ($173,128) |
| 2-room apartment | €183,028 ($199,501) |
| 3-room apartment | €254,282 ($277,167) |
| 4-room apartment | €251,000 ($273,590) |
| 5-room apartment | €259,000 ($282,310) |
| Houses with 4 rooms | €339,128 ($369,650) |
| Houses with 5 rooms | €380,000 ($414,200) |
| Houses with 6 rooms | €363,333 ($396,033) |
| Houses with 7 rooms | €409,667 ($446,537) |
| Houses with 8 rooms | €598,000 ($651,820) |
Buying property in Portugal as a foreigner
The house prices in Portugal are very low compared to other European countries, which is also the conclusion from the Portugal house price index. Now that you know the house prices in Portugal, you may wonder how to buy property in this famous European country. Foreigners, whether from the EU states or not, can purchase property in Portugal and obtain a visa to reside here. Two visa options are available: the Golden Visa and the D7 Visa.
Golden Visa Program
Portugal’s Golden Visa Program provides an attractive pathway to residency and citizenship for non-European Union citizens who invest in Portugal’s real estate. This program offers numerous benefits, including visa-free travel within the Schengen Area and the opportunity to apply for permanent residency or citizenship after five years.
However, it is essential to note that for residential purposes, properties in Lisbon, Porto, and the coastal Algarve region are not eligible as Golden Visa properties.
D7 Visa
D7 Visa is a residence permit that allows non-European Union citizens to live in Portugal based on income or passive income rather than employment and is commonly known as the “Passive Income Visa” or “Retirement Visa.” One of the requirements for the program is having suitable accommodation in Portugal. Hence, under this visa, individuals can purchase property in Portugal.
Buy property in Portugal with Own Property Abroad
Do you want to buy property in Portugal? Own Property Abroad can assist you and ensure a seamless and hassle-free property journey, whether selling or buying real estate in Portugal. Thanks to our knowledge and experience in the local market, we can help with legal requirements, finding suitable properties, negotiating the best deals, and conducting due diligence.
With our expert team, you won’t have to navigate the complexities of the Portuguese real estate market alone. For further information on how we can assist you, kindly drop your details below or email us at [email protected]. Let’s start working on your property success story today!
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Frequently Asked Questions (FAQs)
How much does property cost in Portugal?
Property prices in Portugal vary depending on the location and type of property. The average house price in Portugal is around €1,454 ($1,585) per square meter. Be aware that house prices in Portugal fluctuate.
Will house prices drop in Portugal?
House prices in Portugal continue to increase, and because of the discussions on ending the Golden Visa Program, prices might surge, considering the demand for properties before the end of applications.
How to find property for sale in Portugal?
To find a Portugal house for sale, you can utilize various methods such as engaging with local real estate agents, browsing online property websites, and seeking referrals from friends, relatives, or colleagues.
Will the house price growth in Portugal last?
There are many factors affecting house prices in Portugal. While we cannot accurately predict market conditions, house prices in Portugal may eventually fall, although they could continue to rise over the following years.
