A recent house price index has revealed that Portuguese house prices have risen by 57% in a decade. Nevertheless, there are still plenty of towns where you can find affordable property.
In fact, more than half of homes in the country’s interior are valued at less than €50,000. Here are three of the cheapest places to buy property in Portugal.
If you would like further advice on the buying process in Portugal, download your free Portugal Guide.
Alcoutim
The small and pretty town of Alcoutim is located right on the border with Spain on the banks of the Guadiana River. Many properties, therefore, enjoy a gorgeous river view.
The town is charming and quaint with narrow cobbled streets, café-lined squares and traditional whitewashed houses. There is also a lovely paved esplanade with more cafes and bars which is perfect for taking relaxing strolls along the river.
You’d also be just 40km from the coast, and being so close to the Spanish border, there is plenty of opportunity for day trips to Spain.
Average property prices are just €796 per square metre.
Corvo
Corvo is the smallest and northernmost island of the Azores archipelago. It really is tiny, with a population of around 430! Unsurprisingly, property tends to be a little few and far between, however, the homes that do come on the market are very affordable. Average property prices are just €527 per square metre.
While remote island life may not be for everyone, those that do live there are incredibly friendly and there is a real tight-knit community. It is the ultimate ‘escape’ from the bustle of modern life. The scenery is also spectacular, and it is one of the best places in Europe for birdwatching.
Why not split the cost and double the fun of owning a holiday home in Portugal by buying with family or friends? Read our guide to Buying Abroad with Family
Mértola
The hilltop Medieval-walled village of Mértola lies just 30 minutes north of our other affordable mainland town, Alcoutim. Sitting on the banks of the Guadiana River, and proudly guarded by a 13th century castle, the village is rich in history dating back to the Phoenicians who utilised the area as a port.
Along with the Phoenicians, Mértola has also been influenced by the Romans and the Moors, making it a truly fascinating place to live. The village’s walls have not only protected it from invasion but also from the wear and tear of time. Mértola is regarded as a ‘vila museu’, or living museum, due to the multitude of historical artifacts dotted around the village. One of the most impressive is the ‘Casa Romano’, a museum containing artifacts recovered from a Roman house found under the town hall.
The village is also surrounded by some of the most beautiful and unspoilt countryside in Portugal. The flora and fauna in the area is diverse and plentiful, and if you’re lucky, you may spot some rare species of bird, including the black stork and Spanish imperial eagle.
Average property prices are a little more expensive at €1,414 per square metre. This is still affordable when compared to the rest of the country, however.
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