Cost of Food in the Algarve
In comparison with other European countries, Portugal is quite an affordable place in terms of food. The Algarve is home to several famous Portuguese eateries and many other versatile restaurants serving a variety of cuisines. By spending only €8-€15 at any standard Portuguese mid-range restaurant in the Algarve, you can satiate your hunger to your heart’s content. For more expensive restaurants, the average price may go up to €25-€35 per person. If you plan on cooking meals for yourself, you can buy food items at an affordable price.
Grocery Shopping Costs in the Algarve
There are multiple supermarkets and local markets where you can find all kinds of food and grocery items. The monthly grocery expenses for a family of two comes to around €80 – €160.
You can opt for Portuguese supermarkets, such as Pingo Doce, Jumbo, or Continente, to buy your monthly groceries regularly. You can also find many food items, minced meat, canned fish, and rare spices in these places. It is best to rely on local markets for fruits and vegetables, and they also sell fresh seafood and organic produce.
The following items are each prices at €1.5 each: liter of milk, a kilogram each of rice, potatoes, onions, bananas, tomatoes, and apples. A kilogram of chicken is usually available at an average price of €4-€5, while a block of cheese will cost you €7-€8.
Restaurant Costs in the Algarve
If you live in a non-touristic place, many restaurants serve a complete menu that includes a starter, a main course, and dessert for between €10 to €20. If you want to eat on an a-la-carte basis, you can find signature Portuguese dishes like Piri Piri chicken, Bifana (pork sandwich), or a seafood main course for around €10. One of the favorite food items in Portugal, the pastel de nata, is available for only €2 in many places.
There are a wide range of luxury and multi-Michelin star restaurants spread all over Albufeira, Lagos, and other regions. These kinds of eateries are obviously more costly, but you can get some world-class dishes for special occasions.
Electricity, Internet, and Utility Costs in the Algarve
For a standard apartment for two people, basic utilities, including electricity, gas, heating, cooling, garbage, and water, will cost you around €100-€150. Depending on yourthe usage, this cost may increase or decrease. For example, during the summer, you may need air-conditioning as it can get very warm. Most apartments are well equipped with air-conditioning systems that can provide heating and cooling. If you need a separate heater or fireplace during winter, it will add more to your living costs.
Internet costs may vary depending on the service provider. On average, you can expect to pay a monthly average price of €40-€50 for internet at home. There are multiple mobile network service providers in Portugal that can provide you with internet packages along with a prepaid mobile tariff.
Alcohol Costs in the Algarve
Alcohol is relatively cheap all over Portugal. For example, you can buy a regular household bottle of wine for as little as €2-€3. If you want to try out a little fancier wine, it will cost you €8-€10. If you visit a pub or a brewery, you can get a glass of beer or wine starting from €1.5-€3. Just to note, Portuguese wines are amongst the best in the world, and you can buy top-quality bottles at very affordable prices.
Transportation Costs in the Algarve
The Algarve is well connected by public transportation, such as trains and buses. Public buses connect most of the important stoppages around the region. A bus ticket from Faro Airport to Albufeira or vice versa will typically cost you between €4-€6. By spending only €2-€8, you can get bus tickets to and from popular places, such as Faro, Lagos, Albufeira, Praia da Rocha, Monte Gordo, Silves, etc.
Trains are also relatively cost-effective, especially if you are traveling long distances. If you can book your rail tickets at least a week before your journey, you can get good discounts as well. For example, a train journey between Faro and Lisbon usually costs €38-€41 on the day of the journey, but if you can book the tickets earlier, you can buy a ticket for only €19-€28.
Buses are a great way to get around the Algarve, although, if you are living in the countryside, they may run less frequently. If you want to get around the Algarve region more conveniently, it is better to have access to a private car.
There are a lot of options available for car rentals in the Algarve. You can rent a car long-term from your nearest local rental company. There are lots of car rental options available per day as well. Usually, car rentals in the Algarve cost €25-€35 per day, but you can get lower prices during off-seasons.
Cycling and biking are also becoming popular in the region recently, and you should find many rental places dotted around the Algarve.
Other Costs to Consider
Health insurance costs
Portugal has an excellent public health service called the Servico Nacional de Saude (SNS) or the National Healthcare System of Portugal, which any citizen or resident can access. There are also certain health insurance plans available monthly or yearly in the Algarve for both EU and non-EU citizens.
If you are living in the region for a short time, you should get insurance coverage before heading to Portugal. EU citizens can benefit from the European Health Insurance Card (EHIC) scheme.
Many Portuguese language training sessions are available in the Algarve for groups and individuals. A group class usually costs €60-€75 per month, while the average cost of individual sessions is come at the cost may be €15 per hour.
You can also enroll in an official certificate Portuguese language course in an international school such as the University of Algarve. Generally, the language courses is for adults in such institutions and costs €280-€300 per semester.
The cost of fun activities in the Algarve
The Algarve is a vibrant place when it comes to recreational and fun activities. On average, a two-hour surfing lesson in the Algarve costs €25-€35. A boat trip around the fantastic beaches and caves of the Algarve will cost you €20-€50. There are also many wine-tasting tours available in the region. Private wine-tasting tours start as low as €55, but the price can increase for more luxury tours.
There are many shopping malls and stores in the Algarve to satisfy every shopper’s tastes. You can visit the Forum Algarve and Algarve Mar in Faro, Algarve Shopping near Guia, or Aqua in Portimão.
You will find international brands as well as local sellers at these shopping centers.
Bank accounts and currency transfers
If you plan on living in the Algarve for an extended period of time, it is wise to set up a Portuguese bank account in the region for your convenience. Most banks usually charge certain legal fees of €5-€10 for a single account. If you’re looking to move funds from your home bank account to your Portuguese bank account, it’s worth consulting a finance professional who can help you avoid unnecessary fees when transferring your funds.
The Cost of Co-working Spaces
Even if you are not employed in the Algarve yet long to live there while keeping your job, there are certain co-working spaces available. Please keep in mind that the Algarve is not as advanced as Lisbon or Porto regarding shared working spaces for digital nomads and remote workers. Most of these co-working spaces cost €8-€20 per day, depending on the amenities they offer. Depending on the place you choose, there may be a separate security deposit.
Since Portugal has flexible regulations regarding buying property for foreigners, you can easily purchase your dream house without many problems. Being one of the most popular regions in the country, the Algarve is a top choice for living in Portugal.
You will be able to enjoy living in this stunning part of Portugal because of the captivating scenic beauty, modern lifestyle standards, and affordable cost of living.
If you need more insights on purchasing real estate in Algarve, you can check out our Algarve Real Estate guide. Here at Goldcrest, we offer practical real estate advice for buying properties all over Portugal that is completely tailored towards each individual client.
Our team works towards providing practical guidance to our clients, ensuring maximum benefits and safety coverage. Our professionals can help you with all the paperwork while buying property in the Algarve region, working with you from sourcing properties through to signing the title deed.