Property Investment Guide: Cheapest and Most Expensive Locations in Portugal 2023

The real estate market is buzzing with activity as investment opportunities flourish across Portugal. This Property Investment Guide is designed to provide an overview of the cheapest and most expensive areas to buy a property in Portugal in 2023.

A breathtaking view of Lisbon, the most expensive city for property investment in Portugal.

Portugal’s Housing Market Landscape

The average cost of buying a house in Portugal has risen by 12.1% in the last year, with the median price standing at €1,509 per square meter as of March 2023. Yet, beneath this national average, there exists a wide disparity across various municipalities. Out of the total 308 municipalities, 251 recorded housing prices far below the national median. The question is: where are these affordable locations? And conversely, where are the most expensive ones?

Cheapest Property Locations

A journey to Portugal’s interior regions unveils the cheapest municipalities for property investment. Here, a typical property can be acquired for less than €30,000 according to national statistics.

The district of Guarda, home to Figueira de Castelo Rodrigo, stands out with the lowest median price of €143 per square meter, implying a 100 m2 house costs roughly €14,300 Figueira de Castelo Rodrigo. This is followed by Sernancelhe and Fornos de Algodres, in the districts of Viseu and Guarda respectively, recording median prices of €201/m2 and €217/m2. You can explore more about Sernancelhe here.

Most Expensive Property Locations

On the opposite end of the spectrum, Portugal’s largest urban centers house the most expensive real estate. Unsurprisingly, the capital, Lisbon, takes the top spot with a median price of €3,965/m2 as of March 2023. It is followed by neighboring districts of Cascais and Oeiras, recording prices of €3,574/m2 and €3,093/m2 respectively. More about the beautiful town of Cascais can be found here.

Algarve’s Loulé, Lagos, Aljezur, and Vila do Bispo also rank among the top 10, with median prices exceeding those of Porto, which comes in at the eighth place with €2,609/m2. The bottom two of the top 10 list include Albufeira in the Algarve and Odivelas in Lisbon.

Why Invest in Portugal?

As evidenced by this Property Investment Guide, Portugal offers a diverse range of real estate prices, catering to different investment appetites. Whether it’s the affordable homes in Portugal’s interior or the high-end properties in its urban centers, there are ample opportunities for prospective buyers.

Portugal’s unique combination of rich history, vibrant culture, stunning landscapes, and a robust economy make it a prime location for property investment. Additionally, it offers beneficial programs such as the Golden Visa for investors, adding to the allure of the Portuguese real estate market.

When contemplating property investment in Portugal, it’s essential to understand the regional dynamics of property prices and trends. This guide serves as a starting point for your investment journey, enabling you to make informed decisions that align with your financial goals.

For more details on why Portugal is a preferred choice for property investment, you can refer to this article. As always, it’s recommended to consult with real estate professionals to make the most of your property investment.


Key FactsDetails
Cheapest Place to BuyFigueira de Castelo Rodrigo, median price of €143/m2
Most Expensive Place to BuyLisbon, median price of €3,965/m2
Property Price Trends12.1% increase in the last year
Cheapest RegionInterior of the country, with average property prices under €30,000
Most Expensive RegionLarge urban centers – districts of Lisbon, Faro, and Porto

The magnificent city of Porto, a sought-after location for property investments in Portugal


Q: Where is the cheapest place to buy property in Portugal in 2023?

A: Figueira de Castelo Rodrigo in the district of Guarda is the cheapest municipality to buy a house, with a median price of €143/m2.

Q: Where is the most expensive place to buy property in Portugal in 2023?

A: Lisbon is the most expensive place, with houses sold for the median price of €3,965/m2.

Q: Are property prices in Portugal increasing or decreasing?

A: According to data from March 2023, the average cost of buying a house in Portugal has risen by 12.1% in the last year.

Q: How much does a 100 m2 house in Figueira de Castelo Rodrigo cost?

A: Based on the median price of €143/m2, a 100 m2 house in Figueira de Castelo Rodrigo costs about €14,300.

Q: How much does a 100 m2 house in Lisbon cost?

A: Given the median price of €3,965/m2, a 100 m2 house in Lisbon would cost about €396,500.