Porto is the most affordable major city in Western Europe. The cost of living in Porto is 47% lower than Paris, 40% lower than Frankfurt, and 27% lower than Barcelona. Real estate costs are also lower than any major city in Western Europe.
Average rent per month (€) for apartment (1 bedroom) in the city centre:
Average price (€) per square meter to buy an apartment in the city centre:
It is possible to find out about available rented accommodation by means of signs in the windows or facade of a specific flat, the city’s daily newspapers and licensed estate agents.
An urban renting contract for accommodation has no minimum duration, so if the parties do not stipulate a length of time, the contracts are deemed to have been signed for the fixed period of 2 years, and the rent period may be of open-ended duration after its first renewal. The duration must be stated in a clause in the contract.
If you’re deciding to buy a house, probably the best is to look for professional help, in order to be aware of the legal processes and required registrations, plus property transaction costs, capital gains tax and other fees associated with buying property in Portugal. You can find all the information about this topic here.
Like any urban centre, the price of accommodation in Porto varies according to location. Renting a flat in the centre of the city or in districts such as Boavista, Antas and Foz is, generally, more expensive than on the outskirts, with specific areas in and outside these areas being more expensive or cheaper.
Check this link to get to know Porto’s neighbourhoods and discover which one suits you better.
A list of Real Estate Agencies, available here.
An online guide made for Digital Nomads that will help you understand a bit more about Porto’s lifestyle and where to look for what.
In addition, the National Immigrant Support Centre (Centro Nacional de Apoio ao Imigrante – CNAI) has a Housing Support Office (Gabinete de Apoio à Habitação – GAH) which provides support for immigrants by furnishing information about buying and selling a house, renting and living in a flat.