Beyond Lisbon: Where Are Portugal’s Prime Destinations of Tomorrow?

House hunters are looking beyond Lisbon to invest in property where housing prices are lower. Real estate markets in central and northern Portugal, like Leiria, Gondomar, Matosinhos, Vila do Conde, and Setúbal, which is more to the south, offer properties for any budget.

The average price to buy an apartment in Lisbon city center is €6,173 per square meter. Rent for a one-bedroom apartment is about €1,424, which is 50 to 70 percent higher than the national average. Greater Lisbon offers more affordable prices than the city center at €4,935.

The next big destinations outside Lisbon offer the perfect balance: affordable prices and bigger homes for the same budget. In this article, we will cover the best places house hunters are looking to buy property, the average cost they go for, and the latest statistics in Portugal’s real estate market.

Stick around to read about:

• Why invest beyond Lisbon?
• Where are buyers now looking for properties?
• Lisbon Real Estate Alternatives: 5 Best Regions for House Hunters
• What this means for buyers?

Why invest beyond Lisbon?

In June 2024, rents across Portugal went up by 7.1 percent compared to June 2023, the same as the previous month. The Lisbon region had the biggest increase at 7.4 percent, and every region in the country saw a rise in prices, according to Statistics Portugal (INE).

That same month, the average rent per square meter for the entire country increased by 0.4 percent, the same value as the previous month. The Madeira region experienced the most significant spike (0.6 percent), while all other areas showed positive monthly rates. However, compared to cities like London and Paris, Lisbon remains a more affordable option.

The average net salary in Lisbon is €1,225 per month and compared to the rent for a one-bedroom apartment outside the city center, which can cost €1,085, which is a major draw for foreign investors looking to rent property.

The yearly interest rate for a 20-year fixed-rate mortgage in Lisbon is 3.72 percent, based on the latest data from Numbeo. In 2025, Lisbon’s average property prices were €6,173 per square meter, which is significantly cheaper than those in luxury markets in Zurich.

More digital nomads are drawn to buy property in Portugal due to the 2022 Digital Nomad Visa and the boom in remote working in recent years. More buyers are seeking out quiet, spacious homes to live with family outside the busy cities.

Tourism in Portugal is also growing, with more people seeking to invest in lesser-known areas. This goes hand in hand with more boutique hotels — such as Christian Louboutin’s Vermelho in Melides, wellness centers, yoga, eco-tourism, and wine tours.

Where are buyers now looking for properties?

Real estate markets are constantly evolving, and in Portugal, this is no different. There has been increasing attention for properties outside the hotspot locations of Lisbon, Porto, and the Algarve as buyers have begun to see the tranquil beauty of the Portuguese countryside.

House hunters are moving away from the Lisbon metropolitan areas to cheaper municipalities nearby. Amadora, in the Lisbon district, is the most sought-after municipality for buying a home, followed by Odivelas, Oeiras, and Vila Franca de Xira (all in Lisbon), based on the Idealista analysis for the fourth quarter of 2024.

Most of these municipalities have average house prices over €300,000. They are close to Lisbon city center and offer access to affordable housing and a full range of amenities. Their investment potential is high because of the rising demand as buyers seek a better work-life balance away from the city.

For example, Sintra real estate has excellent investment potential. In August 2025, the average price for an apartment is €1,450 to €2,500/m2, which is 38 to 77 percent cheaper than Lisbon property prices.

Amadora takes the number one spot despite the higher property prices than Sintra because of its proximity to central Lisbon and tourist hotspots. Short-term rentals offer high rental yields, making property investment in Portugal in areas close to popular tourist cities a booming business.

Source: Numbeo

Lisbon Real Estate Alternatives: 5 Best Regions for House Hunters

Most home buyers still focus on Lisbon. But those who prefer more affordable properties, tend to move outside the Lisbon metropolitan areas to the Porto area and central Portugal. Some of the top choices for buying a home are Leiria (Central Portugal), Setúbal (Lisbon area), Gondomar, Matosinhos, and Vila do Conde (Porto area).

1. Leiria

The average listing price in Leiria is €2,758 /m2, based on reports from our buyer’s agents at Goldcrest. Leira real estate prices in Portugal are an excellent choice for first-time buyers who prefer a more traditional infrastructure, and the city is close to both Lisbon and Porto.

2. Setúbal

In the Lisbon area, the Setúbal real estate market is strong due to high rental yields at 7.3 percent, access to luxury properties, and commercial buildings. With an average property value of €2,865 /m2, many investors and remote workers choose to buy real estate in Setúbal, either in quiet villages like Azeitão, or high-end luxury destinations like Tróia Peninsula with stunning ocean views.

3. Gondomar

Gondomar, in the east of Porto, offers an average listing price of €2,167 /m2 and rental yields of about 7.2 percent, making it a practical investment for those who work in Porto and investors looking for a strong return potential.

4. Matosinhos

The average listing price in Matosinhos, located west of Porto, is €3,884 /m2. Although property is more expensive than in Gondomar, Setúbal, and Leiria, our property experts at Goldcrest consider Matosinhos an excellent location for house hunters due to coastal properties and high rental yield. Buyers often invest in properties near beaches like Praia de Matosinhos and Praia da Memória.

5. Vila do Conde

Vila do Conde is another coastal city north of Porto. The average listing price is €2,832 /m2, making it an affordable destination for a family home. Plenty of apartments and villas overlook popular beaches like Praia Azul, Praia do Forno, and Praia de Mindelo. Home buyers who prefer a more traditional infrastructure often invest in properties in the old town near Manueline Igreja Matriz.

What this means for buyers?

Property buyers in Portugal are exploring diverse investment strategies. While many still seek opportunities within the Lisbon real estate investment market, a growing number are extending their search to adjacent municipalities and other key regions like Porto and Central Portugal.

Those who prefer to stay in Lisbon often buy property in nearby areas like Amadora, Odivelas, Oeiras, Vila Franca de Xira, and Sintra. This approach allows buyers to mitigate Lisbon’s living costs, find larger homes, and excellent property value for a similar investment, providing more choice and potential for growth.

However, for buyers, this shift in demand means there are better investment opportunities in these areas.

But as surrounding areas grow, the land becomes more valuable, and prices are more likely to increase over time. It is a simple case of supply and demand. So, the sooner you act, the bigger your chances of finding cheaper deals with long-term investment potential.

If you want someone who can monitor and analyze the listing of all real estate in Portugal, contact us today. Our team of buyer’s agents at Goldcrest keeps track of the fluctuating prices and can provide you with a detailed market analysis.