7 July 2020
English
The real estate market in Portugal has grown exponentially, which translates into a lot of demand and little supply of houses to sell and rent, as well as an increase in values per square meter. In 2018, prices in Lisbon increased by 19% and in Oporto there was a larger difference with an increase of 30%. With this, people have started to avoid city centres to live in the outskirts, where prices are more affordable, they are quieter areas and easy to park.
It may seem difficult to find affordable houses, however, it is still possible to buy houses below average value in the places of greatest interest. That is, in and around the country's main cities.
In order to achieve this, you will have to search in the right places and check some details. With the right strategy it is still possible to give less than 200 thousand euros for a T2 a few minutes from the centre of Lisbon or Oporto, with the possibility of still needing remodelling or some arrangements. Months of work may follow but the wait pays off as it is not always possible to find houses with lower than average values in such central locations.
The most popular places are always those with the best location and those that are often in fashion. Although house values are lower in certain areas, this does not mean that demand is higher.
There are currently five cheaper areas to buy a house in Lisbon, where you will be able to buy property for an average square meter value of around 2000 Euros:
The property market has been growing in Portugal, especially due to tourism, and the historic city centres are crowded with local tourist accommodation. Room prices continue to rise as well as the rent for a house.
The difference between paying a monthly fee to the bank or a monthly rent is not significant at present. However, there is no clear answer to this question as it will depend on each one's financial perspectives and capabilities.
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