As a country with some of the best and lowest property prices in Europe, Portugal real estate is highly sought-after. With the average house price sitting at a mere €1,144 per square metre, properties here will set you back less than half as much as that of the United Kingdom where the average is €2,649 per square metre.
Unlike many countries in Europe with affordable property prices, Portugal has good infrastructure, a reliable legal system, and even a ten-year tax holiday for foreigners. Another unique feature of cheap areas in Portugal is that they are not inexpensive due to being undesirable places, unlike the least expensive places in most other countries.
So, for tremendously good value in a country packed full of rolling hills and mountains, beautiful beaches, and deep valleys, check out these top five cheapest places to buy property in Portugal.
- Portalegre (€113,215)
Settled in the Alentejo region is Portugal’s cheapest area to buy property, Portalegre. This countryside town is situated near the border with Spain in an area of outstanding beauty. There are plenty of fortified towns nestled in the São Mamede mountains, a national park dotted with wild deer and boar roaming through the luxurious forests.
With a wealth of prehistoric treasures, fortifications, and historic monuments alongside whitewashed, red-roofed houses and baroque-style homes, the architecture in the area is as intriguing as it is affordable – you can purchase a village house for as little as €80,000 or go for a country “quinta” starting at €250,000 with land (according to Quick Property Buyer).
- Castelo Branco (€121,945)
Known for its impressive Knights Templar castle, Castelo Branco has lovely, mild winters in contrast to its intensely hot summers. The city of Castelo Branco has been internationally recognized for its regional cheese, delicate and detailed hand embroidery, olive oil, and of course, wine.
Situated in Central Portugal with gorgeous rural landscapes, Castelo Branco is a remote area with peaceful vibes unlike anywhere else in the country. Although it is a tremendously cheap place to live, there are not many options in terms of things to do, other than marvel at the beauty of the scenery and stroll the web of medieval streets.
- Guarda (€122,649)
Portugal’s highest mainland town at 3,465 feet and third-cheapest place to buy property is Guarda, nearly smack-dab in the geographical middle of the country. The mountains offer up fresh air alongside awe-inspiring 360-degree views of the city and surrounding landscapes, while also contributing to it being one of the country’s coldest towns.
Comprised of medieval streets overlooked by the impressive cathedral, Guarda has an interesting historic past as one of the most important defensive strongholds along the Spanish border.
- Beja (€129,913)
In the southern part of Alentejo is the ancient hilltop city of Beja. This quaint, uncrowded town is seated next to a 277-metre hill with a marble castle tower and is encompassed by rich countryside for lush rural landscapes. Despite the Alentejo region making up about one-third of Portugal, the area is the least populated with only about 7% of the population residing here. As such, here you will find vast spaces devoid of tourists for a quiet, comfortable place to stay.
The city is typically dry and warm thanks to its Mediterranean and North African influences on the climate. With origins dating back to Julius Caesar and the Roman times, there is no shortage of history steeped into the charming, cobbled streets and Roman ruins.
- Santarém (€155,292)
Overlooking the River Tagus is one of Portugal’s oldest and most fascinating towns, Santarém. This historic area was once a prominent fortress but is now a significant agricultural centre. It is obvious why this city was a favourite amongst Portuguese monarchs, with the fertile plains encircling the important and stunning Gothic architecture for picturesque scenes.
One of the biggest perks of this area nowadays is the direct links to Lisbon – it is within an hour of the capital but much cheaper overall. It is also conveniently located next to plenty of vineyards to fulfill all your wine needs. For remote living with a myriad of historical monuments and attractions to explore, Santarém is an intriguing and affordable choice.