Portugal Properties under 50K: Affordable Houses for Sale in Portugal

Portugal is one of the best and easiest places to purchase real estate in Europe. Firstly, there are no restrictions on foreigners looking to buy a home here and, secondly, while property prices have been increasing in recent years, Portugal remains very affordable compared with other Western European countries. It may surprise you, but it is possible to find cheap Portugal property under 50k. Keep reading, and we’ll give you a great overview of cheap houses for sale in Portugal under 50,000.

It’s no secret that Portugal is one of the most affordable countries in Europe. The country’s diverse landscapes cater to a range of requirements. This, along with Portugal’s excellent quality of life, breathtaking views, and welcoming locals, has attracted expats and investors from all over the world.

Houses for Sale in Portugal under €50,000

In a report by Jornal de Notícias that cited data from the Ministry of Finance, about 51.8 percent of registered homes across the country are valued under €50,000. The majority of these homes are reportedly located in interior areas, such as the municipalities of Alcoutim, Corvo, and Mértola.

It’s important to note that these properties are generally in good condition, although some may require some renovation. It is quite rare to find a new property under €50,000, unless you get a good deal on prefab homes in Portugal. The main reason why these houses are cheaper is the simple fact that the interior areas of Portugal are less sought-after. Also, make sure you are aware if you can build on the land, as many land plots in some regions of Portugal do not allow for construction. This is due to construction restrictions enforced by municipalities in some regions, and, as such, it is important to check with the Plano Diretor Municipal (PDM) before purchasing land.

This is great news if you’re looking for an investment property in a more affordable price range. You can find a fixer-upper to turn it into your dream home or take advantage of the interest in Portuguese real estate and earn rental income by renting it out to holidaymakers. You could even attract digital nomads, such as a freelance writer looking to be inspired by Portugal’s beautiful scenery or a remote worker interested in learning about the country’s rich history.

What kind of homes are for sale in Portugal under 50K?

There are a variety of different property types under 50K for sale in Portugal. Below is a list of some of the most common terms you will come across during your search:

• Casa or moradia: A detached home, some of which have a backyard or patio; most have a boundary wall with a front gate
• Casa geminada: A semi-detached house
• Condomínios or condos: Individual apartment units with common spaces.
• Quintas: Rustic houses or farms, usually located inland but can sometimes be found in suburban areas
• Terreno: Land (registered with the city hall for residential purposes) that can be bought to build a home

Whatever property type you are after, whether it is rustic land to build on or a farm for sale, you will likely find properties matching your criteria in Portugal. There are many cottages for sale under 50k in Portugal that, after some work, could prove to be the perfect home.

If you are interested in buying property in Portugal, we are here to help. As a local buyer’s agent, we can assist you with your buy, providing a tailored service focused on your needs, whether you are looking for a fabulous country home, a rehabilitation project, or a luxury villa with ocean views. We know that no two clients are the same and will go above and beyond to ensure your needs are met – get in touch with us today.

Check out this article from our sister company, Global Citizen Solutions, for a more detailed understanding of Property for Sale in Portugal. Global Citizen Solutions is a boutique investment migration consultancy firm focused on finding the right residency or citizenship by investment program for you. If you are looking to secure residency in Portugal, book a complimentary call with them to discuss your options. There is a wide range of residency options on the table, including the D7 Visa, DIgial Nomad Visa, and Golden Visa. After five years of legal residency in Portugal, you can apply for a permanent residence card or Portuguese citizenship, provided you meet the requirements under Portuguese nationality law.

Key considerations

When taking advantage of the affordable properties to be found in Portugal, there are some things to consider. If you’re investing in a fixer-upper, make sure that you are aware of any structural damage you may need to address. It can be worth enlisting the services of a Portuguese surveyor who can ensure that there are no structural issues to the interior or exterior. Check whether the property has road access to facilitate the movement of any builders and construction workers. If you intend to rent the property out, make sure it is in the perfect spot that caters to your tenants’ needs.

Cheap Rural Property for Sale in Portugal

Almost all of the cheaper properties for sale in Portugal will be in more rural, interior parts of the country.

Note: This is not to say that you will not find some bargain property for sale in Portugal in more in-demand areas, but the most affordable areas are in the lesser-known parts of the country. If you look carefully, you should be able to find property in a country region locality close to a charming city. For example, the countryside around Coimbra or Évora has quite affordable properties.

Below we highlight some of the key locations to find affordable real estate in rural areas:

Northern Portugal

The north of Portugal is relatively unexplored, and you’ll stumble upon some absolute gems. You also have the Peneda-Gerês National Park and the Douro River on your doorstep so for nature lovers, you could not be better situated.

Bragança: Remote and tranquil, this district offers affordable properties amidst lush greenery and historic towns. Bragança also fully embraces local traditions and festivals, so you will be able to enjoy an authentic Portuguese experience.

Vila Real: Surrounded by vineyards and rolling hills, this district presents affordable housing options in charming rural communities. You are located in the very center of the north of Portugal, making it easy to get around the region.

The Alentejo

The Alentejo, lovingly referred to as the breadbasket of Portugal, given that the region provides the backbone to the country’s food produce and one of the key locations where Portugeuse locals head to on vacation, the Alentejo is a top location to find affordable real estate.

Évora District: Rich in history and culture, this district offers affordable properties in traditional villages surrounded by olive groves and cork forests. The city of Évora itself is one of the most charming in Portugal, with the famous Roman Temple of Diana a must-visit if you are passing through.

Beja District: With vast hilly plains and a slower pace of life, Beja offers up a relaxed pace of life, incredible produce, and some peace and quiet. You will find several property types here at surprisingly affordable rates.

Central Portugal

As with the North of Portugal, Central Portugal is often overlooked in favor of Lisbon, Porto, and the Algarve. However, you will find several hidden gems here.

Coimbra District: Known for its university town and historical architecture, around Coimbra, you’ll find several properties at affordable rates, nested in the countryside, with the Modego River close by.

Guarda: With the Serra da Estrela natural park closeby, where you’ll find Torre, the highest mountain in mainland Portugal (Pico, on the Azores, is higher), Guarda offers picturesque villages and countryside landscapes where the local way of life permeates through and locals can be seen enjoying a game of cards with their morning coffee. A little further south, you’ll also find reasonably priced properties at Castelo Branco, another city with affordable properties.

Other Locations

While we have delved into some of the most affordable regions in the country, if you are interested in the Algarve, Alcoutim, and Aljezur are also top locations to find cheap houses in the sundrenched south of the country.

And, if you are interested in island living, the autonomous islands of Madeira and the Azores should provide properties matching your budget, with a range of property types and price ranges available. Nestled in the Atlantic, these islands, although each very unique in their own way, are well-known for their high quality of life, relaxed pace of life, stunning land formations, and incredible cuisines.

If you are considering buying property in Azores or Madeira, it’s best to visit the islands and determine which area is best suited to you. Bear in mind that engaging with a buyer’s agent or real estate agent in Azores or Madeira who is well acquainted with the market can make the process of finding your ideal property much more straightforward.

When buying property, ensure you have all the amenities you want close by. For example, where is the closest hospital, school, or restaurant? Do you want to have a swimming pool, storage room, garden, or private parking? Consider what is essential for you to have and what would be a nice addition.

Lifestyle in Portugal

Rural Portugal provides a blend of local customs and natural beauty, making these areas attractive options for those seeking a peaceful lifestyle away from the hustle and bustle of hotspot locations. Alongside affordable property, you will also find that the cost of living is inexpensive when compared with the likes of Lisbon and Porto. Indeed low-cost living in Portugal is certainly attainable as the country is one of the most affordable countries in Western Europe.

If you are seeking out an authentic Portuguese lifestyle experience, then rural parts of Portugal conjure up an array of local traditions, where you can learn about local customs. Each town or province will have its own festival throughout the year to enjoy, from the Festival do Butelo e das Casulas in Bragança to the Festival da Batata-doce (Festival of the Sweet Potato) in Aljezur.

Education in Portugal

If you are moving to Portugal with children, then you should ensure that you are conveniently located close to a good school. Most international schools can be found in and around the Lisbon area, in Porto, and in the Algarve. Therefore, if you’re children are of school age, you should definitely consider this when scouting out the perfect location for you and your family.

You can check out this International School guide by our residency and citizenship division, Global Citizen Solutions, for more information on the international schools in Portugal.