What are the apartment prices in Portugal?

In Portugal, apartment prices strongly depend on the region where a particular property is located. The average apartment price in Portugal is € 1,500-2,000 per square metre, depending on the property location. Real estate is slightly cheaper in the north of the country. The most expensive real estate can be found in Lisbon and the neigbouring areas of Cascais and Estoril where the price per square metre can reach € 9,000. In the south of the country, in the Algarve region, there are also expensive locations, such as the Golden Triangle with the resorts of Vale do Lobo, Vilamoura and Pine Cliffs. However, in general, in the Algarve region more affordable residential property priced at € 1,000-2,000/m² can also be found near the sea.

Can foreign nationals take out mortgage loans in Portugal?

Yes, non-residents can be issued a mortgage loan to buy property in Portugal. Special terms of mortgage lending for non-residents — the loan term up to 75 years of age for the eldest borrower and a down payment of 40–50%. The mortgage rate is a floating one, of 3% for residential properties and 5% for the commercial ones.

How does the purchasing process take place in Portugal when buying an apartment?

Before the purchase, it is necessary to hire a lawyer who would help you get the paperwork done. Having chosen the property, you need to open a local bank account and receive a tax identification number. First, a preliminary sales agreement is signed, a deposit equalling to 10–30% of the property value is placed, and the municipal taxes are paid. The deposit is non-refundable if the buyer decides not to purchase. All agreements ought to be notarised. Between signing the preliminary and main sales agreements, the lawyer completes the property Due Diligence and checks the availability of all the documents for the property. When signing the main agreement, the remaining transaction amount is paid, after which the property can be registered with the land registry office and a title deed can be obtained.

What property taxes are there in Portugal?

Property buyers pay a stamp duty (Imposto do Selo, IS) — 0,8% and a title deed transfer tax (Imposto Municipal sobre Transmissões, IMT) — 6,0 – 6,5%. After the purchase, an annual real estate tax (Imposto Municipal sobre os Imóveis, IMI) ranging from 0.3 to 0.8% across property types and municipalities, has to be paid. These three taxes — are everything that is paid by property owners. When selling real estate, non-resident owners pay the capital gain tax, chargeable from the difference between the purchase price and the sales price at a rate of 28%. The inheritance and gift taxes are not levied from spouses, children, parents and grandchildren, the other categories pay them at a rate of 10% (which is considered low).

How expensive are the utilities in Portugal?

The utility costs vary across locations. For example, an average bill for an 50–60 m² apartment totals about € 100-130 per month.

How can an apartment buyer obtain Portuguese citizenship?

It is possible to apply for permanent residency after five years of residence in the country. After six years of residence it is possible to apply for citizenship. But these procedures are not interrelated. Holding a temporary residence or permanent residence permit does not lead to obtaining citizenship. Only following the rules of stay in the country (over 183 days per year for six years) can give hope for obtaining Portuguese citizenship.

Can foreign nationals lease apartments in Portugal?

Yes, of course. The owner's right to administer their property is not limited in any way.

What types of Portuguese property are better to invest in for rental purposes?

The most suitable for rental purposes are the flats and apartments located in the resort areas, such as the Algarve, Faro, Lagos, on the entire southern coast and the capital of the country, Lisbon.

Why do I need to own an apartment in Portugal?

The Portuguese property market is one of the European real estate markets that have been growing most actively over the past few years. Therefore, real estate investments are very profitable in the country.

10 Cheap Apartments for Sale in Portugal from 90,000€

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Residence with a garage near a metro station and the city center, Porto, Portugal for From 215,000 €

Residence with a garage near a metro station and the city center, Porto, Portugal

From 215,000 €

From £181,000

Total of 14 apartments

Residential complex

New residence near a metro station, in the center of Porto, Portugal for From 197,000 €

New residence near a metro station, in the center of Porto, Portugal

From 197,000 €

From £166,000

Built in 2023Total of 16 apartments

Residential complex

3% discount on apartments

Investment apartments in The Community at 9% per annum in the heart of the Motor City area, Dubai

From 165,000 €

Completion in: 2025 Yield: 9.0% Apartments in total: 450

Residential complex

Residential complex close to the river, Parshal, Portugal

From 180,000 €

From £152,000

Total of 74 apartments

Residential complex

Apartments near the beach, with a guaranteed yield of 7%, Lagos, Portugal for From 169,000 €

Apartments near the beach, with a guaranteed yield of 7%, Lagos, Portugal

From 169,000 €

From £142,000

Built in 2023Total of 279 apartments

Residential complex

Luxury residence with swimming pools and a club in a popular area, Nazaré, Portugal for From 197,000 €

Luxury residence with swimming pools and a club in a popular area, Nazaré, Portugal

From 197,000 €

From £166,000

Completion in: 2026.IITotal of 36 apartments

Residential complex

Tourist apartments with a yield of 4% in a new apart-hotel, Algarve, Portugal for 220,000 €

Tourist apartments with a yield of 4% in a new apart-hotel, Algarve, Portugal

220,000 €

£185,000

Total area 81 m²1 bedroomYield 4.0%

Discounted apartments and new-builds upon request

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Apartment in the city center, Vila Nova de Gaia, Portugal for 185,000 €

Apartment in the city center, Vila Nova de Gaia, Portugal

185,000 €

£156,000

Total area 60 m²1 bedroom

Modern apartments in the Alcantara area, Lisbon, Portugal for 225,000 €

Modern apartments in the Alcantara area, Lisbon, Portugal

225,000 €

£190,000

Total area 49 m²1 bathroom

Renovated one-bedroom apartment in Porto, Portugal for 242,000 €

Renovated one-bedroom apartment in Porto, Portugal

242,000 €

£204,000

Total area 47 m²1 bedroom1 bathroom

1-bedrooms apartment 67 m² in Câmara De Lobos, Portugal for 90,000 €

1-bedrooms apartment 67 m² in Câmara De Lobos, Portugal

90,000 €

£75,000

Total area 67 m²1 bedroom1 bathroom

Similar facilities nearby

Apartments in a modern residence with a swimming pool in a picturesque area, Limassol, Cyprus

From 220,000 €

Experts' choice

Completion in: 2025.IITotal of 43 apartments

Apartments in a new residence with swimming pools 200 meters from the beach, Kisonerga, Cyprus

From 235,000 €

Total of 36 apartments

Apartments in a residential complex with spacious terraces, in a quiet and picturesque area, Livadia, Larnaca

From 181,000 €

Rental yield from 7%

Completion in: 2025.IIITotal of 37 apartments

Apartments in a new low-rise residence near the city center, Geroskipou, Cyprus

From 175,000 €

Rental yield from 7%

Completion in: 2025.IITotal of 9 apartments

Apartments in a gated community with swimming pools and gardens near the coast and golf club, Limassol, Cyprus

From 229,000 €

Total of 280 apartments

New buy-to-let apartments and studios with yield up to 3,8%, in a quiet and clean area in central Athens

From 158,000 €

Tranio Exclusive

Completion in: 2025.ITotal of 11 apartments

New apartments for obtaining a rental income in Gounari project, Athens, Attica, Greece

From 200,000 €

Tranio Exclusive

Built in 2024Total of 17 apartments

Apartments in a new gated community with a swimming pool in a prestigious area, Limassol, Cyprus

From 242,000 €

Completion in: 2026.ITotal of 144 apartments

Apartments in a new residence near the beach, Pareklisia, Limassol, Cyprus

From 200,000 €

Built in 2024Total of 21 apartments

Residence with a swimming pool and a panoramic view of the city in the heart of Athens, Greece

From 155,000 €

Total of 54 apartments

Gated residence with swimming pools at 600 meters from the sea, Halkidiki, Greece

From 181,000 €

Built in 202312 units in total

New residence with two swimming pools and lounge areas at 650 meters from the sea, Kallithea, Greece

From 158,000 €

Completion in: 2026.IITotal of 56 apartments

Package of two studios for obtaining a Golden Visa and a guaranteed return of 5% from the moment of payment, Piraeus, Greece

From 135,000 €

Yield 5.0%Total of 20 apartments

New studio apartments in the center of Athens, Attica, Greece

From 110,000 €

Built in 2023Total of 15 apartments

New residential complex of buy-to-let turnkey studios, Piraeus, Attica, Greece

From 80,000 €

Completion in: 2024.IIITotal of 30 apartments

Buy-to-let studio with a 8% yield, a veranda and views of the Acropolis, near the metro station, Athens, Greece

60,000 €

Total area 26 m²1 bathroomYield 8.0%

Two-bedroom bright apartment with a tenant in Attiki area, Athens, Greece

115,000 €

With balcony/terrace

Total area 60 m²2 bedrooms1 bathroom

New residence with a garden in a quiet area, close to the center of Athens, Paleo Faliro, Greece

From 190,000 €

Completion in: 2025.ITotal of 35 apartments

Complex of furnished apartments at 750 meters from the port, in the center of Piraeus, Greece

From 107,000 €

Yield 5.2%Total of 37 apartments

Furnished two-bedroom apartment in Athens, Attica, Greece

164,000 €

Furnished

Total area 55 m²2 bedrooms1 bathroom

Apartments in a new gated community with a business center and restaurant in the center of Paphos, Cyprus

From 215,000 €

Completion in: 2025.IIITotal of 20 apartments

Two-bedroom apartment in a beautiful residence with a swimming pool, Lloret de Mar, Spain

235,000 €

With balcony/terrace

Total area 82 m²2 bedrooms2 bathrooms

Spacious apartment in a residence with a garden and a swimming pool, Lloret de Mar, Spain

250,000 €

With balcony/terrace

Total area 129 m²4 bedrooms2 bathrooms

New residence with a swimming pool close to a beach and Paphos center, Geroskipou, Cyprus

From 170,000 €

Total of 44 apartments

Gated residence with a swimming pool and gardens in a prestigious area, Polis, Cyprus

From 212,000 €

Total of 24 apartments

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Coldwell Banker
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