At time to buy a house in a context of strong inflation and interest rate hikes Mortgages, One of the factors to be given particular attention is the housing costs, it doesn’t stop growing up on the national territory. If you are looking for a house to buy takes note of the 10 municipalities where houses are cheaper in Portugal. And it also takes into account where the most expensive homes for sale are across the country.
The most recent data from the National Institute of Statistics (INE) show that the median house price in Portugal was 1,346 euros per square meter (euros/m2), taking into account the home sales realized during the 12 months between April 2021 and March 2022. This value increased by +3.8% compared to the year ended in the previous quarter and by +12.4% compared to the year ended in the same quarter of the previous year, underlines the report card published this Thursday, July 14, 2022.
Of the 300 Portuguese municipalities for which data is available, there are 46 in which the real estate prices are higher than the national median over this period. The vast majority – 245 municipalities in particular – have median house values below 1,346 euros/m2.
In the analysis of real estate prices practiced in Portuguese municipalities, the INE does not have data for 8 municipalities: Boticas, Penedono, Alfândega da Fé, Vimioso, Barrancos, Lajes das Flores, Santa Cruz das Flores and Corvo.
Which are the 10 municipalities with the cheapest houses to buy?
It is mainly in interior of portugal where the 10 municipalities that offer the cheaper houses from the country. From this list, five municipalities are located in Guarda, one in Viseu, one in Castelo Branco and another in Bragança. One can also be observed in Coimbra (Pampilhosa da Serra) and another on the island of Graciosa, in the Azores (Santa Cruz da Graciosa).
It is in Figueira de Castelo Rodrigo, in the district of Guarda, that it is possible to buy the cheapest houses at all, with a cost of 177 euros/m2 in the period referring to the last 12 months ending in March 2022. Here is a 100 m2 house can cost as little as 17,700 euros.
Then comes the village of Sernancelhe, in Viseu, where to buy a house has a cost of 220 euros/m2, according to the data. Vila Velha de Ródão, in Castelo Branco, appears in third place among the cheapest municipalities to buy a home (224 euro/m2).
These are the counties with the most expensive homes to buy
On the side of the most expensive places for to buy a house, the district of Faro is the one with the largest number of municipalities (5) in this top 10. And just after is the district of Lisbon, represented by four municipalities. The district of Porto has only one, which is the municipality of the city Invicta: it is in sixth position, with a cost of 2,332 euros/m2 in the last 12 months ending in March 2022.
Unsurprisingly, the municipality where buying a house is more expensive in the country it is Lisbon – it costs 3,642 euros/m2. This means that a 100 m2 house has a median cost of more than 364,000 euros, which is why it is around 20 times more expensive than a House for sale in Figueira de Castelo Rodrigo, the municipality that has the cheapest homes in the country for sale.
In second place is Cascais, also in Lisbon, where to buy a house has a cost of 3,184 euros/m2. And the third is Loulé, in Faro, with a median cost of 2,750 euros/m2, reveals the INE. All the municipalities in this ranking of the 10 most expensive to to buy a house have values per square meter of more than 2,000 euros.