If you’re looking for a cheap property in Portugal, the good news is that they do still exist! Even though recent official figures show property price growth in Portugal at its strongest level in 26 years, there are still bargains to be had. As if often the case, it’s just a question of knowing where to look!
Choosing a cheap property in Portugal doesn’t mean you have to compromise on your dream lifestyle. The weather’s still the same whether you choose a glitzy golf resort or a rustic village just down the road from it! Furthermore, there’s a good chance that you will experience a more authentic Portuguese lifestyle in a cheaper area than somewhere geared specifically towards expats and tourists.
Choosing a cheap property in Portugal doesn’t mean you have to compromise on your dream lifestyle.
In this article, we look at five places to find cheap property in Portugal, spanning seaside, city and country.
The Algarve’s probably not the first place that springs to mind for cheap property in Portugal. If you’re on a budget, places like the “Golden Triangle” – with its lavish resorts – are probably off-limits.
However, that doesn’t mean there aren’t cheaper pockets of the region. All things are relative, of course, but by going ever-so-slightly off the beaten track, it’s possible to save a considerable amount of money and still enjoy an Algarve lifestyle.
Vila Nova de Cacela in the East Algarve isn’t the very cheapest Algarve area, but you find those more inland. The most recent figures show the area around Monchique as having the cheapest property, for example. However, this is a good compromise.
The town is set back slightly from the coast, but still within a few kilometres of the beach. Amenities abound, and golf courses include the stunning and luxurious Monte Rei. While you’ll find plenty of luxurious villas here, you can still pick up an apartment for around €100,000, and a townhouse for under €200,000.
Alcoutim takes you further into the inland Algarve, but you needn’t worry about the lack of a beach. Here you’ll find a stunning river beach with warm water, and a gloriously sleepy town-centre. This place feels very different to the touristy Algarve, but a 40-minute drive will land you right in the thick of things. In return for that short distance, the property is considerably cheaper, with country homes complete with land from around €85,000.
Coimbra is an interesting option if you want to enjoy a vibrant city life on a budget. Cheaper than Porto and considerably cheaper than Lisbon, Coimbra still has plenty of charm. It’s a university city full of history and atmosphere. Coimbra is within easy reach of Lisbon, Porto and the beaches of the Silver Coast, by both road and rail.
You’ll find a city centre apartment in Coimbra from around €100,000, but things get really interesting if you drive to the outskirts, where you’ll find habitable houses for as little as €50,000, within just ten minutes of the city.
Coimbra is within easy reach of Lisbon, Porto and the beaches of the Silver Coast.
Off the beaten track
Viana de Castelo probably isn’t somewhere you’ve heard of. It’s located in the northern Minho region of Portugal. However, it’s a stunning small city with just under 40,000 inhabitants, nestled between river and sea.
Property here is excellent value; A decent apartment will cost around €70,000, and you can pick up restoration projects for less than €40,000.
Miranda do Corvoin the Coimbra province of Central Portugal, is a good place to centre you search for truly cheap property in Portugal. It’s around here, in a stunning area dotted with mountains and valleys, where you’ll find ruins and restoration projects for laughably small sums. There are plenty of ruins for restoration for €25,000 or less. However, if you’d rather have something more straightforward, you’ll find a “lock up and leave” holiday home in this region for less than €50,000.
Cheap property in Portugal is getting harder to find in some areas. However, there’s still plenty of it if you know where to look – especially if you’re happy to move slightly away from the tourist hotspots.