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20 Cheapest locations to Buy a House in Portugal


Photo of a village in Interior Portugal

In 2023, Portugal witnessed a significant economic landscape, with inflation driving up house prices across the country. Additionally, access to mortgages became increasingly challenging due to soaring interest rates. 


Against this backdrop, it's crucial to identify the most affordable areas for property investment, whether you're considering a relocation within Portugal or contemplating a move to the country for the first time. 


So, where can you find the most budget-friendly real estate options in Portugal in 2024? Here are the 20 cheapest towns to buy a house in Portugal as of April 2024. We have divided this blog post by apartments and houses in order to facilitate your consultation!



Buying Property - Apartments:


Average Asking Price:

  1. Figueira de Castelo Rodrigo (Guarda District) - €66,666

  2. Mesão Frio (Vila Real District) - €67,000

  3. Penedono (Viseu District) - €67,000

  4. Alfândega da Fé (Bragança District) - €69,112

  5. Avis (Portalegre District) - €71,666

  6. Fronteira (Portalegre District) - €76,620

  7. Penamacor (Castelo Branco District) - €77,583

  8. Castanheira de Pera (Leiria District) - €80,600

  9. Boticas (Vila Real District) - €82,875

  10. Torre de Moncorvo (Bragança District) - €84,333

  11. Mêda (Guarda District) - €85,000

  12. Alter do Chão (Portalegre District) - €89,116

  13. Oleiros (Castelo Branco District) - €92,250

  14. Montalegre (Vila Real District) - €92,333

  15. Campo Maior (Portalegre District) - €92,385

  16. Crato (Portalegre District) - €92,500

  17. Tabuaço (Viseu District) - €92,583

  18. Gavião (Portalegre District) - €95,681

  19. São João da Pesqueira (Viseu District) - €96,000

  20. Gouveia (Guarda District) - €96,159



Figueira de Castelo Rodrigo, located in the Guarda District, offers historic charm and stunning landscapes at an average asking price of €66,666. Meanwhile, Mesão Frio and Penedono, located in the Vila Real and Viseu Districts respectively, provide affordable real estate options surrounded by natural beauty. Alfândega da Fé, situated in the Bragança District, with an average asking price of €69,112. Lastly, Avis, found in the Portalegre District, has an average asking price of €71,666.




Average Asking Price per sqm:

  1. Figueira de Castelo Rodrigo (Guarda District) - €597

  2. Portel (Évora District) - €613

  3. Penamacor (Castelo Branco District) - €671

  4. Celorico da Beira (Guarda District) - €677

  5. Crato (Portalegre District) - €700

  6. Tabuaço (Viseu District) - €707

  7. Aguiar da Beira (Guarda District) - €713

  8. Torre de Moncorvo (Bragança District) - €718

  9. Góis (Coimbra District) - €724

  10. Castanheira da Pêra (Leiria District) - €740

  11. Penalva do Castelo (Viseu District) - €743

  12. Avis (Portalegre District) - €750

  13. Sabrosa (Vila Real District) - €751

  14. Pampilhosa da Serra (Coimbra District) - €767

  15. Alfândega da Fé (Bragança District) - €778

  16. Murça (Vila Real District) - €778

  17. Fronteira (Portalegre District) - €779

  18. Vidigueira (Beja District) - €796

  19. Oleiros (Castelo Branco District) - €804

  20. Tarouca (Viseu District) - €825



Figueira de Castelo Rodrigo leads the list with an average asking price per square meter of €597, followed closely by Portel and Penamacor. Celorico da Beira and Crato complete the top five, offering affordable property prices per square meter, making them attractive options for budget-conscious buyers.


Village in Portugal with white houses and a vineyard
Portel - Photo by José Oliveira on Flickr CC BY-SA 2.0 DEED




Buying Property - Houses

Average asking sale price 

  1. Vila Velha de Ródão (Castelo Branco District) - €69,744

  2. Penamacor (Castelo Branco District) - €73,782

  3. Oleiros (Castelo Branco District) - €86,090

  4. Pinhel (Guarda District) - €87,563

  5. Trancoso (Guarda District) - €92,656

  6. Góis (Coimbra District) - €94,908

  7. Vila de Rei (Castelo Branco District) - €95,583

  8. Nisa (Portalegre District) - €101,958

  9. Mação (Santarém District) - €103,804

  10. Sabugal (Guarda District) - €104,670

  11. Miranda do Corvo (Coimbra District) - €105,391

  12. Fornos de Algodres (Guarda District) - €105,852

  13. Vila Nova de Paiva (Viseu District) - €105,876

  14. Alvaiázere (Leiria District) - €110,665

  15. Penalva do Castelo (Viseu District) - €110,668

  16. Vouzela (Viseu District) - €111,416

  17. Miranda do Douro (Bragança District) - €112,747

  18. Nelas (Viseu District) - €114,874

  19. Penacova (Coimbra District) - €115,092

  20. Guarda (Guarda District) - €115,669


In the top tier of affordable housing options, these five municipalities offer enticing opportunities for buyers. Vila Velha de Ródão, located in the Castelo Branco District, presents an average asking price of €69,744. Meanwhile, Penamacor, also in the Castelo Branco District, boasts an average price of €73,782. Oleiros offers an average price of €86,090. Moving to the Guarda District, Pinhel presents an average price of €87,563, while Trancoso offers an average price of €92,656.



Average asking sale price per sqm

  1. Pinhel (Guarda District) - €474 

  2. Vila Velha de Ródão (Castelo Branco District) - €504 

  3. Góis (Coimbra District) - €523 

  4. Trancoso (Guarda District) - €524 

  5. Miranda do Douro (Bragança District) - €525 

  6. Miranda do Corvo (Coimbra District) - €525 

  7. Alfândega da Fé (Bragança District) - €526 

  8. Penalva do Castelo (Viseu District) - €526 

  9. Moimenta da Beira (Viseu District) - €528 

  10. Pampilhosa da Serra (Coimbra District) - €534 

  11. Penacova (Coimbra District) - €546 

  12. Penamacor (Castelo Branco District) - €553 

  13. Vinhais (Bragança District) - €555 

  14. Fornos de Algodres (Guarda District) - €561 

  15. Vouzela (Viseu District) - €561 

  16. Vila de Rei (Castelo Branco District) - €567 

  17. Vila Nova de Paiva (Viseu District) - €568 

  18. Sabugal (Guarda District) - €579 

  19. Mação (Santarém District) - €589 

  20. Oleiros (Castelo Branco District) - €590

The most affordable location is Pinhel in Guarda which is the only location that remains below €500 per sqm with the average asking price of €474. 

Followed closely by Vila Velha de Ródão in Castelo Branco com €504 per sqm. 


Conclusion


In conclusion, it's evident that most of the affordable locations listed are situated in small villages within the Interior, especially in the Interior North. This isn't coincidental; rather, it reflects their status as less sought-after areas, whether due to their secluded nature or limited property offerings. However, if you're seeking the tranquil charm of Portugal's countryside, these hidden gems are certainly worth exploring.

Mountain with small villages and dark clouds in Portugal
Beauty of the Portuguese Interior - Arouca

Whether you're in pursuit of your dream home within bustling urban centers or seeking affordability and serenity in Portugal's quieter corners for retirement or investment, rest assured that Savvy Cat Realty has you covered! With comprehensive coverage spanning all of mainland Portugal, we're equipped to assist you every step of the way in your relocation journey.


Ready to embark on your Portuguese adventure? Reach out to us today at contact@savvycatrealty.com and let's make your relocation dreams a reality!




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