How much is a house in Portugal? This is what it costs to buy a home in the 30 largest Portuguese cities

The national average price of a 2,000-square-foot home in Portugal is $516,000, according to the latest My Dolce Casa real estate report. Buying a house in Portugal has gotten increasingly more expensive in recent years, as the country has become one of the top homebuying destinations for Americans.

For comparison, the U.S. median home price is $431,000, according to the most recent St. Louis Fed data.

Nice weather, amazing culture, and simple imigration and homebuying processes are among the top reasons that Americans are choosing Portugal as their favorite country in Europe for moving abroad.

The average price of a home in Portugal by region

House prices in Portugal can vary greatly from region to region. The metropolitan Lisbon area is the most expensive to purchase real estate in Portugal, followed by the Algarve region in the south.

At the other end of the spectrum are the Azores Islands, the most affordable region to buy a house in Portugal.

1. Metropolitan Lisbon   $714,000
2. Algarve   $660,000
3. Madeira   $558,000
4. Norte   $424,000
5. Alentejo   $326,000
6. Centro   $284,000
7. Azores   $282,000

To calculate the average price of a house in Portugal, My Dolce Casa analyzed the latest published real estate prices, converted the price per square meter into the price per square foot, then multiplied this by 2,000 square feet, which is considered an average-sized house in the United States. Additionally, all prices were converted from euros into U.S. dollars.

The most expensive cities to buy a house in Portugal

Exploring different areas to buy a house in Portugal? The most desirable areas to live in Portugal require the highest budget and possibly a mortgage loan. The capital city of Lisbon is the most expensive place to buy a house in Portugal. Other expensive places to buy real estate in Portugal include: Porto, Lagos, and Albufeira.

Here are the top 10 most expensive cities to buy real estate in Portugal: 

1. Lisboa $1,096,000
2. Loulé $798,000
3. Lagos $754,000
4. Porto $704,000
5. Albufeira $680,000
6. Sines $638,000
7. Funchal $630,000
8. Faro $612,000
9. Tavira $610,000
10. Matosinhos $592,000

The most affordable cities to buy a house in Portugal

Looking for the cheapest cities to own a house in Portugal? The most affordable homes, out of the 100 largest Portuguese cities, are in Moura in Alentejo, Fundao in the Center, and Vale de Cambra in the North. With an average price per square foot under $100, you can find an average sized home for anywhere between $120,000 to $170,000 in these places.

Here are the top 10 cities with the cheapest real estate in Portugal: 

1. Moura $122,000
2. Fundão $144,000
3. Vale de Cambra $144,000
4. Portalegre $146,000
5. Ponte de Sor $156,000
6. Guarda $160,000
7. Covilhã $166,000
8. Castelo Branco $168,000
9. Elvas $170,000
10. Estremoz $170,000

Here’s what it costs to buy a house in Portugal’s 30 largest cities:

Methodology:

• When using or citing this data, please give credit to My Dolce Casa by linking to this report
• Portugal home price data source: Idealista.pt, valid as of October 2023
• United States home price data source: St. Louis Federal Bank
• Original prices published in euros per square meter
• Euros converted to U.S. dollars at an exchange rate valid as of the date of this report
• Square meters converted to square feet
• The average price of a 2,000 square foot home was calculated by multiplying the price per square foot in USD by 2,000

This article originally appeared on MyDolceCasa and was syndicated by MediaFeed.

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