Portugal's Most Affordable Municipalities to Buy a House
According to Idealista News, families today live in a time when purchasing power is reduced and access to housing is more difficult. To be able to buy a house compatible with your income and pay an instalment on the lowest housing loan, there are many people who are starting to think of moving to the interior of the country.
Looking at the list of the 25 cheapest municipalities to buy a house in Portugal, Gavião, in the district of Portalegre, occupies the first place. Owners here tend to ask for on average, 401 euros per square meter (euros / m2), this being the cheapest value per m2 in the country to buy a house, the study points out.
It is followed by Figueira de Castelo Rodrigo, in Guarda, where buying a house costs on average, 404 euros/m2 at the end of June 2023. Completing the top 5 are the municipalities of Nisa, in Portalegre (430 euros/m2), Penamacor, in Castelo Branco (436 euros/m2), and Celorico da Beira, in Guarda (443 euros/m2).
For less than 500 euros per m2 it is possible to buy a house still in the municipalities of Pinhel, in Guarda (448 euros/m2), Góis, in Coimbra (450 euros/m2), Sabugal, in Guarda (466 euros/m2), Sousel, in Portalegre (468 euros/m2), Castanheira de Pera, in Leiria (497 euros/m2), and Penacova, in Coimbra (497 euros/m2).
The other 14 municipalities on the list have houses for sale for more than 500 euros/m2, as is the case of Crato, in Portalegre (504 euros/m2), Pampilhosa da Serra, in Coimbra (526 euros/m2), Mação, in Santarém (532 euros/m2), Fronteira, in Portalegre (542 euros/m2) and Melgaço, in Viana do Castelo (549 euros/m2).
Between 500 euros/m2 and 575 euros/m2 there are houses to buy in nine Portuguese municipalities. They are: Idanha-a-Nova, in Castelo Branco (552 euros/m2), Avis, in Portalegre (554 euros/m2), Gouveia, in Guarda (556 euros/m2), Campo Maior, in Portalegre (557 euros/m2), Penela, in Coimbra (558 euros/m2), Arganil, in Coimbra (566 euros/m2), Proença-a-Nova, in Castelo Branco (573 euros/m2) and Ansião, in Leiria (574 euros/m2). In the last place of the ranking of the 25 cheapest municipalities to buy a house is the municipality of Alvaiázere, in Leiria, costing 576 euros/m2.
The study conducted by idealista also found the five most exclusive places to buy a house in Portugal, that is, the most expensive. This is the top 5 of the most expensive counties to acquire a home in the country: Lisbon (5,351 euros/m2), Grândola (4,706 euros/m2), Cascais (4.627 euros/m2), Oeiras (3.967 euros/m2) and Loulé (3.842 euros/m2).
It appears that families in Portugal are facing challenges related to reduced purchasing power and difficulties in accessing affordable housing. As a result, many people are considering moving to the interior of the country where housing prices are generally lower.
According to Idealista, there are 11 Portuguese Municipalities where homes cost less than 500 Euros/m2, with Gavião in the lead.
Based on the information provided from the study conducted by idealista, here are some key findings:
Top 5 Cheapest Municipalities to Buy a House in Portugal (Average price per square meter in euros):
Gavião, Portalegre - 401 euros/m2
Figueira de Castelo Rodrigo, Guarda - 404 euros/m2
Nisa, Portalegre - 430 euros/m2
Penamacor, Castelo Branco - 436 euros/m2
Celorico da Beira, Guarda - 443 euros/m2
Other municipalities where houses can be purchased for less than 500 euros/m2 include Pinhel (Guarda), Góis (Coimbra), Sabugal (Guarda), Sousel (Portalegre), Castanheira de Pera (Leiria), and Penacova (Coimbra).
Most Expensive Municipalities to Buy a House in Portugal (Average price per square meter in euros):
Lisbon - 5,351 euros/m2
Grândola - 4,706 euros/m2
Cascais - 4,627 euros/m2
Oeiras - 3,967 euros/m2
Loulé - 3,842 euros/m2
The study highlights the considerable price difference between the cheapest and most expensive municipalities, emphasizing the affordability challenges in certain regions, especially in major urban centers like Lisbon.
Moving to more affordable municipalities in the interior can be an attractive option for families seeking to purchase a house within their budget and improve their housing situation. However, it's essential for potential buyers to consider other factors such as job opportunities, amenities, and quality of life in these areas before making a decision to relocate.
Please note that the data provided is based on the study available at the end of June 2023, and the real estate market can change over time, so it's always good to consult up-to-date information when making any decisions related to property purchases.
Disclaimer: The views expressed above are based on industry reports and related news stories and are for informational purposes only . SSIL does not guarantee the accuracy, legality, completeness, reliability of the information and or for that of subsequent links and shall not be held responsible for any action taken based on the published information.