According to idealista, there are also 60 municipalities where it is possible to buy a house for less than 500 euros/m2.

Buying a house in Portugal cost, on average, 1,541 euros/m2 in the last 12 months ending in the second quarter of 2023 (+10% compared to the same period of the previous year), according to data from the National Statistics Institute (INE).

Analysing the cost of buying a house, it becomes clear that in 252 Portuguese municipalities, the median price of houses in this period was lower than the national median. This data shows that it is the high prices of houses in municipalities located in large urban centers, such as Lisbon, Porto and Faro, that stimulate the rise in prices at a national level.

Especially because it appears that in the vast majority of Portuguese municipalities with available data – the sample has 301 municipalities out of a universe of 308 – house prices are much lower.

The 10 cheapest municipalities

It is in the interior of the country where the cheapest municipalities to buy a house are concentrated. Sernancelhe is actually the cheapest of all, where the median cost of homes sold was 205 euros/m2. This means that in this municipality in the district of Viseu, a house costs around 20.5 thousand euros, in average terms, between July 2022 and June 2023.

The second cheapest municipality to buy a house in Portugal is Figueira de Castelo Rodrigo (209 euros/m2). And the third is Fornos de Algodres (215 euros/m2). In these two municipalities in the Guarda district, a house sold in the last year ending in June 2023 cost, in median terms, 20.9 thousand euros and 21.5 thousand euros, respectively.

Following are other municipalities located in the district of Guarda (Mêda, Almeida and Pinhel) and also municipalities in the districts of Castelo Branco (Vila Velha de Ródão), Viseu (Armamar), Santarém (Mação) and Coimbra (Pampilhosa da Serra). The median cost of housing in these municipalities was a maximum of 30.1 thousand euros in this period.