Is it your dream to move to Portugal but you think you can’t afford it? Stop dreaming and start planning your move.
Did you know it’s possible to buy cheap property in Portugal under 50k? Yes, honestly! There are bargains to be had, if you know where to look – especially with the help of an iad Overseas property consultant, who has access to the latest properties for sale.
This article will tell you how you can find cheap property in Portugal, whether you plan to retire, move as a family or want to buy cheap Portuguese property as an investment.
The Portuguese property market
House prices in Portugal were dynamic at the end of 2024, with prices reaching 12% more in October than in the previous year. This development in the Portuguese real estate market is due to increased demand from both local buyers and international investors.
With its low cost of living and spectacular climate, Portugal continues to be a popular destination for expatriates and tourists. However, rural areas and smaller towns offer significantly lower prices than cities and tourist regions such as the Algarve, making it possible to find properties for less than €50,000, particularly those requiring renovation.
What kind of cheap property in Portugal under 50k is available?
If you have the money and are prepared to do some work on upgrading the property, you could create a wonderful home or house to sell for a profit.
Houses for renovation
Older homes in rural villages are often priced under €50,000 and can be transformed into comfortable residences or seasonal rental properties. With the right marketing, you can rent out a rural retreat to yoga enthusiasts, nature lovers, bird-watchers…
Ask the local council whether any grants are available towards your renovation, for example towards the cost of renewable energy.
Small apartments
Modest apartments in less urbanised areas are available for €40,000-€50,000. These may suit retirees or small families. Many are habitable, but you may wish to upgrade to create a cosy home.
Farms
Another way to find cheap property in Portugal under 50k is to search for agricultural properties. Farming in Portugal is no longer the profitable business it was in the past. This has led to the availability of farms for sale in Portugal at reasonable prices.
If you have the resources, this could be the ideal way to create a luxury home surrounded by nature.
Ruins
Ruins and abandoned properties for sale are a cost-effective way to purchase land, particularly in scenic locations. You can either convert these into a habitable property, using the existing structure or knock it down and create a home tailored to your needs.
You will need planning permission to renovate, demolish and rebuild in Portugal, which you must apply for through the local town hall.
Where to find cheap property for sale in Portugal?
Affordable properties are mainly found inland. Cheap houses for sale in Portugal near the beach are likely to be more than €50,000, so we recommend you concentrate on rural regions. However, you can find cheap Madeira properties for sale if you fancy some island life off the northwest African coast.
Some of the key areas to locate cheap rural property for sale in Portugal include:
- Alentejo – small villages in Alentejo offer properties between €30,000 and €50,000. These areas are ideal if you’re seeking space and a slower pace of life.
- Central Portugal – regions like Castelo Branco and Guarda have older homes in need of modernisation, often priced below €50,000. You’ll also find that these properties come with land, which is ideal if you love being outside or gardening.
- Northern Portugal – towns such as Chaves and Bragança present options for investment or second homes at lower costs.
- Inland Algarve – while coastal Algarve properties are expensive, areas such as Monchique offer more budget-friendly opportunities.
Iad Overseas can help you find a cheap rural property for sale in Portugal. Our extensive knowledge of the housing market and contacts with cheap houses for sale in Portugal is invaluable for property buyers in Portugal.
Alternatives to buy property in Portugal for under €50,000
If you can’t find the ideal cheap property for sale in Portugal, don’t give up – there are other options.
Buy land and build
Purchasing land for less than €50,000 and constructing a home offers flexibility and value. Imagine having a hand in designing your own home, creating spaces for a gym, play area, family room… If you want a dream home that suits your lifestyle, buying land and building could be the way to get what you want.
You will have to budget for construction and material costs, but building to budget is possible, especially if you have trade experience.
Prefabricated homes
Another option is to buy cheap land in Portugal and install a modular or prefabricated home. Modular homes come ready-made and range from tiny houses, suitable for one or two people to large family homes built to your specifications. These are usually modern designs and perfect if you like minimalistic style and don´t want to wait for the property to be built.
Co-ownership
Have you considered partnering with family or friends to share property ownership? You could buy a property for less than €50,000 between you and share the cost of the renovations. The result could be a fantastic holiday home, where you can spend quality time and also make a profit through seasonal rentals.
Cheap property in Portugal under 50k offers the chance to enter the property market abroad and own your own home, whether for holidays or as a ‘forever home’.
Are you ready to start searching for cheap property in Portugal under 50k? Get in touch with iad Overseas and allow us to show you a selection of cheap properties throughout Portugal.
3 key points to remember
- Properties less than €50,000 can be found in rural areas.
- Renovating a property or purchasing land to build a home is a viable option: prefabricated homes offer a quick, budget-friendly alternative.
- Co-Ownership as an Alternative.
