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:
Figueira de Castelo Rodrigo (Guarda District) - €66,666
Mesão Frio (Vila Real District) - €67,000
Penedono (Viseu District) - €67,000
Alfândega da Fé (Bragança District) - €69,112
Avis (Portalegre District) - €71,666
Fronteira (Portalegre District) - €76,620
Penamacor (Castelo Branco District) - €77,583
Castanheira de Pera (Leiria District) - €80,600
Boticas (Vila Real District) - €82,875
Torre de Moncorvo (Bragança District) - €84,333
Mêda (Guarda District) - €85,000
Alter do Chão (Portalegre District) - €89,116
Oleiros (Castelo Branco District) - €92,250
Montalegre (Vila Real District) - €92,333
Campo Maior (Portalegre District) - €92,385
Crato (Portalegre District) - €92,500
Tabuaço (Viseu District) - €92,583
Gavião (Portalegre District) - €95,681
São João da Pesqueira (Viseu District) - €96,000
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:
Figueira de Castelo Rodrigo (Guarda District) - €597
Portel (Évora District) - €613
Penamacor (Castelo Branco District) - €671
Celorico da Beira (Guarda District) - €677
Crato (Portalegre District) - €700
Tabuaço (Viseu District) - €707
Aguiar da Beira (Guarda District) - €713
Torre de Moncorvo (Bragança District) - €718
Góis (Coimbra District) - €724
Castanheira da Pêra (Leiria District) - €740
Penalva do Castelo (Viseu District) - €743
Avis (Portalegre District) - €750
Sabrosa (Vila Real District) - €751
Pampilhosa da Serra (Coimbra District) - €767
Alfândega da Fé (Bragança District) - €778
Murça (Vila Real District) - €778
Fronteira (Portalegre District) - €779
Vidigueira (Beja District) - €796
Oleiros (Castelo Branco District) - €804
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.
Buying Property - Houses
Average asking sale price
Vila Velha de Ródão (Castelo Branco District) - €69,744
Penamacor (Castelo Branco District) - €73,782
Oleiros (Castelo Branco District) - €86,090
Pinhel (Guarda District) - €87,563
Trancoso (Guarda District) - €92,656
Góis (Coimbra District) - €94,908
Vila de Rei (Castelo Branco District) - €95,583
Nisa (Portalegre District) - €101,958
Mação (Santarém District) - €103,804
Sabugal (Guarda District) - €104,670
Miranda do Corvo (Coimbra District) - €105,391
Fornos de Algodres (Guarda District) - €105,852
Vila Nova de Paiva (Viseu District) - €105,876
Alvaiázere (Leiria District) - €110,665
Penalva do Castelo (Viseu District) - €110,668
Vouzela (Viseu District) - €111,416
Miranda do Douro (Bragança District) - €112,747
Nelas (Viseu District) - €114,874
Penacova (Coimbra District) - €115,092
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
Pinhel (Guarda District) - €474
Vila Velha de Ródão (Castelo Branco District) - €504
Góis (Coimbra District) - €523
Trancoso (Guarda District) - €524
Miranda do Douro (Bragança District) - €525
Miranda do Corvo (Coimbra District) - €525
Alfândega da Fé (Bragança District) - €526
Penalva do Castelo (Viseu District) - €526
Moimenta da Beira (Viseu District) - €528
Pampilhosa da Serra (Coimbra District) - €534
Penacova (Coimbra District) - €546
Penamacor (Castelo Branco District) - €553
Vinhais (Bragança District) - €555
Fornos de Algodres (Guarda District) - €561
Vouzela (Viseu District) - €561
Vila de Rei (Castelo Branco District) - €567
Vila Nova de Paiva (Viseu District) - €568
Sabugal (Guarda District) - €579
Mação (Santarém District) - €589
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.
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!