What are property prices like in Portugal? 

Property prices in Portugal are generally on the increase especially in the most popular areas (Lisbon, Porto & Algarve) due to overwhelming demand from foreign buyers and investors. The prices in Lisbon have however gone up enormously and are much higher than the average prices in other regions. Also, analysts are predicting that property prices are set to continue rising for the immediate future. 

Which are the most expensive areas to buy property in Portugal? 

Lisbon and the Algarve are by far the most expensive areas in which to buy property in Portugal. In Lisbon, Cascais and Estoril, closely followed by Oeiras are some of the most expensive neighborhoods to buy property. Setubal near Lisbon is also an expensive place to buy property, while in the Algarve areas such as Lagos, Albufeira, Tavira and Lagoa. For luxury houses and apartments Vale do Lobo, Quinta do Lago and Vilamoura are the choicest neighborhoods in the Algarve. 

Which areas are cheaper? 

For cheap properties and great bargains, you should head inland, especially in the central region of Portugal. Another advantage is that many of the houses and land in these parts are very big and spacious. The Silver Coast is also an attractive area for people looking to buy cheap property and is considered by many to be a good alternative to the Algarve, as it also has beautiful coastlines. 

Property in the Silver Coast  

When you think of beautiful coastline and beaches in Portugal, the first place which comes to mind is the Algarve, and rightly so, but the next best place with an equally amazing coastline is the often-forgotten Silver Coast. It is situated in between Lisbon and Porto, roughly an hour’s drive from the capital city. 

The Silver Coast is an excellent alternative to the Algarve in terms of buying a property by the beach, as the property prices are cheaper than in the Algarve. There are great bargains to be gotten here as you can buy houses or apartments for less than €100,000. Some places to consider are Obidos, Peniche, Nazare and Tomar. For more information, check out this article about living in the Silver Coast.

Property in the Algarve 

The sunny Algarve is one of the top places in Portugal where people choose to purchase property or own real estate, either as an investment or for residence purposes. In the Algarve, there is plenty of choice in terms of property types ranging from apartments with sea view to villas to luxury houses and much more. 

The price of property in the Algarve also varies depending on the region. For example, Vilamoura is known for luxury homes, making it one of the most expensive places to buy property in the Algarve. Lagos and Albufeira are also expensive areas to buy property in. For cheaper properties in the Algarve, you will need to go to areas like Monchique and Alcoutim or more rural areas to find bargain deals.  For more information, take a look at this article about how to live in the Algarve.

Property in Lisbon  

Lisbon property is prime investment right now, although prices have become massively inflated. Apartments and properties in the downtown area and neighbourhoods around the city centre have skyrocketed. It is still attracting many foreign buyers and investors looking for second homes or just buying as a financial investment. The most expensive areas right now in the Lisbon property market are Avenida da Liberdade, Baixa Chiado and Lapa. 

For cheaper properties at more reasonable prices you may want to consider areas such as Benfica and Amadora. 

Other alternatives to buying in the Lisbon metropolitan area are Cascais and Estoril. They are both between 30 to 40 minutes’ drive from Lisbon. Although the prices here are gradually climbing here too, and considered expensive real estate in some quarters, properties here still offer great value for money. Oeiras in between Lisbon and Cascais is also a good alternative. Check out this article about the best neighborhoods in Lisbon.

Property in Porto  

The property market in Porto is also showing some great signs of growth and it is generally considered a good choice and a place to buy property in Portugal. More and more people are looking for alternatives to the Algarve and Lisbon where real estate prices are rising rapidly. In this regard, buying a property in Porto also makes for a good investment as it is also a commercial hub as well as a tourist hub in Portugal.  

There are different types of property to choose from throughout the Porto district. For example, apartments in the Foz do Douro neighbourhood offer lovely views of the Atlantic, while Vila do Conde is an upcoming area where you can still find great bargains. The Ribeira neighbourhood is also a good place to buy especially for commercial purposes. 

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