Discovering Affordable Real Estate: Top Destinations to Buy a House in Portugal on a Budget
Let's dive into the heart of Portugal's real estate market in 2024 🏠🇵🇹
The median price of homes sold last year was a hefty 1,777 euros per square meter (euros/m²), according to the National Institute of Statistics (INE) - that's an eye-watering 10.3% increase compared to the previous year! 📈💰
But there's a silver lining. Only 54 municipalities topped Portugal's national value, with most of them clustered in the Algarve sub-regions, Greater Lisbon, Setúbal Peninsula, and Porto Metropolitan Area. But don't worry, there's good news for those looking for a more wallet-friendly property. 💸
The 10 cheapest municipalities to buy a house 🏡📈
Looking for a bargain? Head to Armamar (district of Viseu), where the median cost was 208 euros/m², followed by Figueira de Castelo Rodrigo (district of Guarda), Mação (district of Santarém), Pampilhosa da Serra, and Idanha-a-Nova, all around 274 euros/m². That means you can get a sizesable 100 m² house for less than €27,500 in these municipalities! 🤑
Eight of the 10 cheapest municipalities have costs below 300 euros/m², making a 100 m² home a snippet under €30,000. Only Penamacor and Torre de Moncorvo breach this price point, with slightly higher costs. 📉
Where is it most expensive to buy a house? 🌃💸
Unsurprisingly, the priciest municipalities are located in the districts of Lisbon, Faro, Porto, even the island of Madeira. And all of these districts have median costs over 2,900 euros/m², which means a 100 m² house was sold for over €290,000 in 2024! 💸💰
The highest price was recorded in the municipalty of Lisbon (4,340 euros/m²), with Values over 3,400 euros/m² also seen in Cascais, Oeiras, and Lagos. 🌇🌊
Five municipalities hailing from the Faro district dominate the top 10 most expensive municipalities, with Lisbon following in third place (behind Funchal and Porto). 🌊🏠
Affordable alternatives for property seekers 🏘️🚀
If you're looking for more budget-friendly options, consider exploring Mêda (Guarda District), Figueira de Castelo Rodrigo, Tabuaço (Viseu District), Santarém, Évora (Alentejo Region), Alentejo rural areas, Braga, Setúbal, and Viseu. These areas provide a mix of affordability and potential for investment or personal residence, depending on individual preferences and priorities. 💼🚀
Happy house hunting, folks! 🏠🚀🎉
(P.S. Looking for more affordable options? Consider Mêda, Figueira de Castelo Rodrigo, Tabuaço, Santarém, Évora, Alentejo rural areas, Braga, Setúbal, and Viseu. These areas provide a mix of affordability and potential for investment or personal residence, depending on individual preferences and priorities.) 🏘️🚀💼🎉
- In the hunt for more wallet-friendly real estate, consider branching out to Mêda in the Guarda District, where homes sell for 208 euros per square meter (euros/m²).
- For those interested in investing in Portugal's housing market, looking into Porto's Metropolitan Area might reveal some promising opportunities, given the lower median home prices compared to pricier locations like Lisbon or the Algarve.
- In 2024, the Algarve sub-regions boasted some of the highest real estate prices in Portugal, but staying informed about the finance aspects of other districts like Santarem, Braga, or Setubal could open up opportunities for shrewd investing in the Portuguese housing market.
