The Cost of Living in Portugal
The cost of living varies by region and consumption habits, but here are some additional elements to give you a clearer idea:
| Average salary | 1505€/month |
|---|---|
| 1L of petrol | 1.70€ |
| Average electricity price | 115€/month |
| Monthly food shopping for one person | 150-200€ |
| Average price per litre of milk | 0,90€ |
| Average price of bread (500g) | 1,20€ |
| 1kg tomatoes | 2€ |
| Monthly gym package | 30-50€ |
| A restaurant lunch | 10€ |
| A full dinner at the restaurant | 20€ |
| A pint of beer | 2,50€ |
| A bus ticket | 2€ |
| A public transport pass | 40€/month |
| A phone subscription | 20€/month |
| An internet subscription | 50€/month |
| Private Nursery | 430€/month |
| A cinema ticket | 7,50€ |
While restaurants and leisure activities are generally cheaper than in other Western countries, electricity and phone services are more expensive.
It is important to note that although things are cheaper, salaries are also much lower (with a minimum wage of €822/month), and the purchasing power of a Portuguese person is often much lower than that of a French or British person. Therefore, the cost of living is lower when compared to external salaries.
The Cost of Real Estate in Portugal
The Portuguese real estate market has seen phenomenal growth over the past fifteen years, coinciding with the launch of various measures to revive the Portuguese economy and real estate (NHR status, Golden Visa, etc.). In 2024, despite price increases and government decisions to end various incentive measures, the real estate market is still as dynamic as in previous years, with variations depending on neighborhoods, types of properties, and cities!
The median price for a house in Portugal in 2024 is about €1,900/m², and €3,300/m² for an apartment. While some neighborhoods in major cities like Porto or Lisbon, or some upscale seaside resorts like Cascais, have square meter prices sometimes exceeding those of much more expensive European capitals, other locations still offer very good investments!
Portuguese real estate offers a wide variety of options, from modern apartments in city centers to traditional houses in rural areas. For those looking to invest in the most sought-after areas, here are some tips:
- Lisbon: Expect to pay between €3,500 and €6,000/m² in central neighborhoods like Chiado or Bairro Alto.
- Porto: Neighborhoods like Ribeira or Foz do Douro offer properties starting at €2,500/m².
- Algarve: Ideal for retirees and beach lovers, with prices ranging from €2,000 to €4,500/m² depending on proximity to the coast.
The Cost of Healthcare in Portugal
Portugal benefits from a universal healthcare system (SNS), which provides free access to care for residents who contribute. This universal coverage includes basic medical care like a general practitioner consultation, maternity, or prescription medications. Specialist consultations sometimes require a small additional contribution.
The downside of the public system is that waiting times are often very long, even for simple routine exams. To avoid these delays, many subscribe to private insurance to be reimbursed in the private sector. Here are some typical costs for private health services:
- General practitioner consultation: €50-70
- Specialist consultation: €80-150
- Hospital stay: €250-400/day
- Blood tests: €20-50
The cost of health insurance in Portugal varies between €15 and €40 per person on average, but this figure should be taken with caution: it is difficult to give a precise figure, as insurance prices vary greatly depending on status (resident or not), age, number of people in the household, level of coverage chosen, etc.
Being Retired in Portugal
For retirees, living in Portugal can be particularly attractive: the average monthly budget for a comfortable retirement in Portugal is between €1,200 and €2,000, depending on the place of residence and chosen lifestyle. This budget covers regular expenses, such as housing, food, leisure, and healthcare costs.
Conclusion
In summary, Portugal offers an attractive cost of living, affordable healthcare system, and a dynamic real estate market. Whether you are looking for a second home, a new place to live or to retire, Portugal has all the assets to seduce you. Plan your budget carefully and enjoy all that this beautiful country has to offer.
