Updated: October 30, 2023
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 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. 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.
Where can I find houses for sale in Portugal for under €50,000?
Property is more affordable in the interior areas of Portugal, and many of these houses are big and spacious.
If you’re looking for cheap houses for sale near beautiful beaches, the Silver Coast is an affordable option. Other areas to consider include Central Portugal, the Alentejo, Northern Portugal, Madeira, and the Azores. If you’re looking for cheaper houses for sale in Lisbon, you will find more affordable options towards the outskirts of the city.
Check out this article on Where to Buy Property in Lisbon for more information.
There are many ways to find cheap properties under 50K in Portugal. A good starting point to get an overview of the market and what’s on offer is that you can find various online portals, such as Imovitual and Idealista. After you have an understanding of the market, we recommend seeking expert assistance, for example from a buyer’s agent, to narrow down properties based on your requirements. Buyer’s agents have access to exclusive properties that are not advertised on the market and can ensure you get the best price possible for your purchase.
Take your first step towards owning a home in Portugal and contact Goldcrest. We are a buyer’s agent, and our team of specialists has almost a decade of experience when it comes to property investments in Portugal. Get in touch and start building your personalized investment plan. We have access to properties that you will not find elsewhere, including new listings. We’ll provide you with tailored advice so that you can find your dream property and begin your adventure in Portugal.
What kind of homes are for sale in Portugal under 50K?
There are a variety of different types of properties 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.
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.
Portugal real estate offers some of the best deals, whether you’re looking for investment properties or your dream home. Doing some online research is a great way to see what’s available. Search filters and search alerts can help you shorten the process by showing the specific properties that match your criteria. Should your current search query change, or if you would be open to different criteria, you can set up multiple alerts. You might even find your perfect property under 50K in just a few weeks!
Frequently Asked Questions about Houses for Sale under 50K
Where is the cheapest place to buy property in Portugal?
According to property giant Idealista, the municipality of Penedono, in the district of Viseu, was the cheapest place to buy property in Portugal in 2022. Viseu real estate prices were an average of €305 per square meter. Alvaiázere is also quite an affordable municipality to buy property, as it is a property close to Portugal Portalegre, near the Spanish border in Central Portugal. You will also find plenty of areas where you can buy rustic land in the countryside at very affordable prices. Central Portugal (close to Portugal Portalegre in particular) and Northern Portugal are known to be good places to find affordable real estate in Portugal.
Is housing in Portugal cheap?
Property prices in Portugal vary based on the location and property type. On average, property in Portugal is cheaper than property in other Western European countries. You will also be able to find rustic land at affordable prices in Portugal.
Can I really find properties in Portugal for under 50K?
Yes, it is possible to find cheap properties for sale in Portugal. Cheap properties will usually be located in less-developed areas, in a quiet area or small town of Portugal, although you may be able to find some properties close to larger cities, they will often require some work. Note that it is less common to find a new property for sale under 50k.