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This disparity becomes even more pronounced in the capitals: while in Madrid the price is around 3,500 euros per square meter, in Lisbon this value exceeds 5,600 euros, representing a difference of almost 38%.
Porto, the second largest city in the country, is also no exception to this trend. With prices exceeding 3,560 euros per square meter, Porto is already a more expensive city than Madrid.
While the purchase market is beyond the reach of many, the rental market offers no relief. The minimum wage in Portugal continues to be insufficient to cover the high costs of housing. In Lisbon, the average rent reaches 21.5 euros per square meter, with Porto and Funchal following the trend, with 17.4 euros/m2 and 14.6 euros/m2, respectively. This reality contrasts sharply with more affordable cities such as Castelo Branco (6.8 euros/m2) and Viseu (7.2 euros/m2).
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Having recently travelled to Madrid, I can confirm that Lisbon is a lot more expensive. We have become increasingly frustrated with just how much more expensive things have become in Lisbon recently, so much so that we're now considering a switch to Spain sometime in the future. We can't help feeling short changed with the price to value ratio of Lisbon when compared to somewhere like Madrid. Madrid has more amenities, better public transport, less traffic, and is cheaper to boot.
By Chris C from Lisbon on 12 Aug 2024, 06:57
This is what happens when a government advertises their country for sale to the world, and encourages everyone to move there. Artificially high Immigration in a short time period will inevitably create this kind of massive price inflation, It's the same in the UK, where it's now impossible for young people to own homes without having parents helping, or though inheritance.
By David from Porto on 12 Aug 2024, 09:27
No surprise! Lisbon and Portugal best places, and not only those along the Atlantic coast, have been 'given' to the international tourism industry and international civil construction oligarchs! The Portuguese governments have been accomplices of that for the last decades! Spain's Governments have been more responsible and much better in defending the real interests of their people!
By Tony L Fernandes from Other on 12 Aug 2024, 15:03
Yes Chris, I couldn't agree more. Add to that the fact that modern Portugal doesn't have much style. I have arrived 10 years ago and things were different then. However, today I wouldn't consider moving to Portugal because value for money is really bad.
By Tom from Lisbon on 12 Aug 2024, 20:42
It is indeed ridiculous how expensive Lisbon has become recently... Nowadays, you pay already Parisian prices at the city center, and, with all due respect, Lisbon is NOT Paris, not in the least. I have stopped with my monthly Lisbon weekends and now go to Seville or Madrid: MUCH better value for money! (Also, more practical for me, as I live in Tavira...)
By Aleks from Algarve on 12 Aug 2024, 22:53
I am interested in this topic because I have lived in Spain 3 times.
First of all, it's interesting to know that if you live in Spain, without language skills, you won't survive, in Portugal they speak English, the Spanish don't, i.e. successful apartment sales in Spain,,,, you need an interpreter at the hospital, offices and maybe also with the Realtor, then in the future you might see that Spain is the wrong choice, because there is also a higher crime rate than in Portugal, and more than 400 different mafia groups live in Spain, as well as terrorist attacks there from time to time
By Erik Nyman from Porto on 17 Aug 2024, 13:41