The national average price of a 2,000-square-foot home in Portugal is $530,000, according to the latest My Dolce Casa real estate report. The average home price in Portugal has increased by about 6% in the past year, as the country has become one of the top homebuying destinations for Americans.
In comparison, the U.S. median home price is $420,800, according to the most recent St. Louis Fed data.
Nice weather, welcoming culture, and a simple homebuying process are among the top reasons that Americans are choosing Portugal as their favorite country in Europe for moving abroad.
Image Credit: Depositphotos.com.
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 is Central Portugal, the most affordable region to buy a house in the Western European country.
Image Credit: Carvoeiro Algarve Portugal February 2015 by Bengt Nyman (CC BY).
Regional prices in Portugal
- Metropolitan Lisbon $740,000
- Algarve $676,000
- Madeira $594,000
- Norte $440,000
- Alentejo $306,000
- Azores $302,000
- Centro $290,000
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.
Image Credit: Madeira by Mike McBey (CC BY).
The most expensive cities
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.
Image Credit: DepositPhotos.com.
Here are the top 10 most expensive cities to buy real estate in Portugal:
- Lisbon $1,132,000
- Loulé $814,000
- Lagos $780,000
- Porto $718,000
- Albufeira $682,000
- Funchal $656,000
- Tavira $630,000
- Matosinhos $610,000
- Faro $598,000
- Vila Real de Santo Antonio $584,000
Image Credit: Olga_Gavrilova/iStock.
The most affordable cities
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 $130,000 to $200,000 in these places.
Image Credit: Moura, Portugal by Vitor Oliveira (CC BY-SA).
Here are the top 10 cities with the cheapest real estate in Portugal:
- Fundão $132,000
- Guarda $162,000
- Elvas $162,000
- Abrantes $172,000
- Castelo Branco $172,000
- Estremoz $182,000
- Beja $186,000
- Mirandela $186,000
- Braganca $188,000
- Chaves $200,000
Image Credit: Castelo Branco – Portugal by Vitor Oliveira (CC BY-SA).
Here’s what it costs to buy a house in Portugal’s 30 largest cities:
Lisbon: 1,096,000
Porto: 704,000
Vila Nova de Gaia: 452,000
Amadora: 530,000
Braga: 358,000
Coimbra: 378,000
Funchal: 630,000
Setúbal: 472,000
Almada: 554,000
Sintra: 486,000
Gondomar: 334,000
Barreiro: 408,000
Aveiro: 490,000
Odivelas: 546,000
Guimarães: 306,000
Leiria: 272,000
Faro: 612,000
Matosinhos: 592,000
Loures: 536,000
Portimão: 516,000
Póvoa de Varzim: 410,000
Seixal: 464,000
Maia: 374,000
Évora: 410,000
Montijo: 432,000
Ponta Delgada: 362,000
Santa Maria da Feira: 258,000
Valongo: 320,000
Image Credit: Depositphotos.com.
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 the date of this report
- United States home price data source: St. Louis Federal Bank, valid as of the date of this report
- 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.
Image Credit: DaLiu/istockphoto.
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