Engel & Völkers
  • 2 min read

Portugal in the top 10 list of European countries where it's cheapest to buy a house

According to a study by the Portuguese Association of Real Estate Professionals and Companies (APEMIP), Portugal is one of the 10 cheapest countries in Europe to buy a home, with an average price of 1,963 euros per square metre in 2015.

According to a study on property prices in 2015, Portugal's position has risen five points in the ranking since 2013, when the average house price was 1,741 euros per square metre.

According to the study, the highest prices are in Monaco (44,522 euros per square metre), the United Kingdom (25,575 euros), France (13,639 euros), Russia (11,866 euros) and Austria (10,807 euros).

By contrast, the countries with the lowest price per square metre are Moldova (965 euros), Macedonia (1,134 euros), Bulgaria (1,222 euros), Montenegro (1,400 euros) and Hungary (1,528 euros).

This study is based on the price per square metre of properties of around 120 square metres, located in the centres of the main European cities.

The president of APEMIP, Luís Lima, said in a statement that the increase in value in Portugal compared to 2013 "reflects the potential and credibility of the Portuguese property market".

For Luís Lima, "it's natural for the average price to be lower" in Portugal, "since it's in line with the standard of living and purchasing power of Portuguese citizens". "However, we know that the stability of our real estate and its potential for appreciation, combined with the price per square metre, continues to be very attractive for attracting foreign investment," added the president of APEMIP.

Engel & Völkers is also optimistic and is promoting the expansion of its franchising network in markets with potential, introducing a worldwide service vision. As an Engel&Völkers franchisee you will benefit from the strength of the brand, access to the international network, a unique business platform and significant competitive advantages.

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Engel & Völkers Portugal

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1250-096 Lisboa, Portugal

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