Portugal has become one of the most popular countries for moving and buying a home abroad. It is the second most sought-after homebuying destination in Europe for Americans, according to a recent study by research blog My Dolce Casa, while Italy takes the first place.
Portugal's natural beauty, showcased by its stunning Atlantic Coast and lush natural parks, friendly locals, and unique tradition in arts, architecture, and music, have attracted expats from the United States in droves in recent years.
However, Portugal's increasing popularity has also led to a consistent rise in real estate prices, bringing the national average price of a Portuguese home to over $500,000. This is mainly driven by sky-high prices in desirable locations such as Lisbon, Porto, or the Algarve, where many foreign buyers have invested in real estate consistently over the past few years.
Yet, if you are on a tighter budget, don't be discouraged. You can still find excellent value properties for sale in Portugal if you look towards more affordable and equally beautiful regions, like Alentejo or the Central Region.
If you want to get the most space on a $150,000 budget, here are 10 great locations in Portugal where you should look for homes:
1. Portalegre, Alentejo
- Average price per square foot: $73
- Home size for $150,000: 2,055 sqft
Portalegre, a charming medium-sized city in the Alentejo region with a population of around 15,000, is characterized by beautiful historical architecture and a unique blend of tranquility and cultural richness.
A true bargain for house hunters on a small budget, the price per square foot in Portalegre is the lowest among the top 100 largest cities and towns in Portugal, $73, which buys you over 2,000 square feet of living space.
2. Guarda, Centro
- Average price per square foot: $80
- Home size for $150,000: 1,875 sqft
Guarda, one of Portugal's highest cities with a population of approximately 42,000, offers breathtaking panoramic views thanks to its elevated location in the Serra da Estrela mountains, making it a captivating small-sized city to explore.
The cost to buy a home in Guarda is very low, so for $150,000 you could purchase a large 1,875-square-foot home, so you can splurge on space without spending a lot of money.
3. Covilhã, Centro
- Average price per square foot: $83
- Home size for $150,000: 1,807 sqft
Covilhã, a medium-sized town with a population of around 35,000, nestled in the Serra da Estrela, is renowned for its wool industry and is the perfect place for both students and nature enthusiasts to enjoy its affordability and natural beauty.
If you're looking for a great location to get the most for your money, Covilhã is your place. $150,000 will buy you no less than 1,807 square feet of space here.
4. Castelo Branco, Centro
- Average price per square foot: $84
- Home size for $150,000: 1,786 sqft
Castelo Branco, a vibrant medium-sized city with a population of about 56,000 in the Centro region, boasts a beautiful historic center and is known for its affordability and cultural richness. The town is well-located in the lush Portuguese countryside, from where you can explore the nearby hiking trails and natural parks.
Homes in Castelo Branco sell for about $84 per square foot, which means that for $150,000, you could buy a house as large as 1,786 square feet, a great value for such a desirable location.
5. Elvas, Alentejo
- Average price per square foot: $85
- Home size for $150,000: 1,765 sqft
Elvas, a small town with a population of around 23,000 and well-preserved fortifications, offers an affordable cost of living and a relaxed lifestyle in the Alentejo region. Located just near the Spanish border in Eastern Portugal, this town is a great home base from where you can easily explore Spain on the weekends.
The price per square foot in Elvas is similar to Castelo Branco, at $85, which translates into 1,765 square feet of living space for a cost of $150,000.
6. Torres Novas, Centro
- Average price per square foot: $87
- Home size for $150,000: 1,724 sqft
Torres Novas, a delightful small-sized city with a population of approximately 36,000 in the Santarém District, is known for its peaceful atmosphere and affordable cost of living.
The cost to buy a home in Torres Novas is as low as $87 per sqft, on average. $150,000 gets you a 1,724-square-foot house, a real bargain compared to many other locations in Portugal.
7. Abrantes, Centro
- Average price per square foot: $88
- Home size for $150,000: 1,705 sqft
Another charming town in the Centro region, with a population of about 40,000, set along the Tagus River, Abrantes offers an affordable lifestyle in a historical setting, surrounded by green hills and serene nature.
A low budget goes a long way in Abrantes. For instance, for just $150,000, you would be able to purchase a house as large as 1,705 sqft.
8. Mirandela, Norte
- Average price per square foot: $93
- Home size for $150,000: 1,613 sqft
If you're attracted to the North of Portugal, Mirandela offers the best bang for your buck in this region. A small town with a population of around 11,000 in the northeastern Trás-os-Montes area, Mirandela is celebrated for its culinary tradition and historical charm.
The town offers cost-effective living, with real estate prices averaging $93 per square foot. As such, you could buy a house as large as 1,600 square feet for $150,000.
9. Beja, Alentejo
- Average price per square foot: $94
- Home size for $150,000: 1,596 sqft
Beja, one of the largest towns in the Alentejo region, with a population of approximately 36,000, provides a relaxed pace of life and an affordable cost of living. Moreover, you'd be living not too far from the gorgeous Valley of Guadiana Natural Park.
Moreover, real estate in Beja is very affordable, at an average of $94 per sqft. As such, a $150,000 budget buys you a generous 1,596 square feet of living space here.
10. Amarante, Norte
- Average price per square foot: $95
- Home size for $150,000: 1,579 sqft
The second northern city on this list, Amarante, nestled in the Douro Valley with a population of about 57,000, is famous for its medieval bridge and offers an affordable surrounded by picturesque landscapes.
If you're looking for a great deal on a home, you're sure to find it in Amarante. $150,000 can buy you a house as large as 1,579 square feet, on average.
Related: 15 Things to Do in Porto That Will Make You Feel Like a Local
