The cost of living in Portugal is gaining popularity among ex-pats due to its enviable climate, stunning landscapes, and reasonable cost of living. Among the best destination to relinquish is the Algarve, and the otherworldly attractions of Lisbon, Porto, Coimbra, and Cascais provide a tranquil and cultural setting. In the case that this country’s living expenditure is famously known for being quite affordable, many foreigners can live comfortably there.
The standard of living and general cost of living here
It ranks relatively low on OECD indicators of a better life, particularly in terms of income and education. However, the quality of the air and water outperforms the OECD average. In spite of these low scores, Lisbon ranks higher than Paris, Milan, London, and Barcelona in Mercer’s 2019 Quality of Living City Ranking.
While the cost of living is significantly lower here than in other comparable Western European nations, earnings may be lower.
Find the ideal Portuguese city for your new life as an ex-pat
This country’s minimum annual net-disposable income is €18,287, which is much less than the OECD average. One will discover that a person who resides independently in the capital city can spend approximately two thousand euros monthly, consisting of rent, while a family of four will presumably use up around five thousand euros every month.
The rate of unemployment is approximately twenty percent, which, when compared to the EU, it’s slightly average. The price of housing here is generally less costly than in other regions of Western Europe.
The rental cost
The cost of rent costs here ranges from €650 monthly for a city apartment in Lisbon or one of the charming Algarve towns to €2,500 per month for a serviced apartment with three bedrooms. In Lisbon, apartments typically cost 860 euros monthly.
An apartment that has two bedrooms can be rented for as cheap as five hundred euros in other parts of the city. Typically, unfurnished apartments are the more affordable option. Be sure to cough out roughly between twelve hundred euros and two thousand per month if you’re a foreigner living in Lisbon with a family and want to live in modern buildings.
Portugal’s property prices Idealista, a real estate website, claims that Lisbon is Europe’s second-cheapest capital city to buy a home, after Brussels. It appears that the typical home costs €227,751 in the heart of Lisbon. In the city centre, housing costs €4,547 per square meter, whereas on the outskirts, it costs €2,653 per square meter on average. The property is most affordable in Figueira de Castelo Rodrigo, where the median price per square meter is €161.
Check out portals like these if you’re looking for a place to rent for a short period of time:
- Airbnb.
- Spotahome.
- Uniplaces.
The cost of household bills in Portugal
Utility bills in Portugal have a mild climate, so the cost of utilities is significantly lower there. Numbeo says that an 85-square-meter apartment costs €102 per month for electricity, gas, and water.
Telecommunications in Portugal
Portugal also has widespread internet access and a plethora of telephone and internet service providers. One of the major providers offers packages that include internet, television, and a landline for €30 per month.
Medical care costs in Portugal
Public medical care in Portugal is given by the Portuguese public well-being Administration (SNS). To use it, all residents must register with Portuguese Social Security. Supposing that you are self-employed, you will be needed to accomplish this on your own, but your employer should do this for you. Some assistance is delivered free of charge, while others require a slight fee. For exact costs, consult your healthcare provider or the SNS online portal.
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