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Cost of living in Portugal 2024
Portugal provides numerous advantages to its residents, including a pleasant Mediterranean climate, low crime rates and beautiful landscapes. But is it expensive to live in Portugal? How much money do you need to live comfortably in Portugal? Portugal is known for its affordable living expenses in comparison to other developed nations in North America and Europe. From lively cities to idyllic shorelines, Portugal offers endless possibilities.
House prices falling Europe – but not in Portugal
Portugal recorded the 5th biggest increase in house prices in the EU between the last quarter of 2023 and the same period last year, according to Eurostat.
Rental prices at 4 year high in Portugal
The price of homes to rent in Portugal accelerated by 11.6% at the end of 2023, the highest year-on-year variation since 2020, according to INE.
Best Cities to Live in Portugal
Renowned for its rich history and wine, Porto draws foreigners to live in Portugal with its thriving real estate market, lively culture, low cost of living, and great employment prospects. Prospective purchasers can find out various possibilities in Porto.
Portugal – one of the safest countries in the world, and that’s official
In 2023 Portugal rates as the seventh most peaceful country in the World. In terms of the most peaceful countries in Southern Europe, Portugal stands out as a particularly peaceful country. Portugal has a low crime rate, a reasonably stable political system, and a high level of social cohesion.
Real estate responsible for half of foreign investment
Of the total FDI transactions in Portugal last year, more than half (3,900 million euros) were related to real estate investment (22% more than in 2022). In 2023 foreign direct investment in real estate reached the highest value since the beginning of the Banco de Portugal series (2008).
Rental prices rose 5.9% per m2 in Portugal in January 2024
The most recent data from the National Statistics Institute in Portugal (INE) confirms that, in the case of rentals, the amount charged by landlords to tenants has skyrocketed, with rent increasing by 5.9% per square metre (m2) year-on-year in January 2024.
Portugal's Real Estate Hits All-Time High with Record Summer Surge in Foreign Investment!
In a remarkable testament to Portugal's real estate resilience, foreign direct investment (FDI) in the sector has scaled new heights, reaching over €1.1 billion in the vibrant summer months from July to September.
Will house prices fall in Portugal in 2024?
House prices have been rising for more than ten years and this is expected to continue to happen in 2024, according to a report by ECO. Despite predicting a slowdown in demand and the pace of sales, the experts consulted by ECO do not see, on a medium-term horizon, a decline in housing prices.
