Many people considering a move to Portugal are shocked to learn how affordable it is. It generally costs less to live in Portugal than it does in the US, Canada, or any other Western country. In fact, according to one recent study, Portugal has the lowest cost of living in all of Western Europe.
Everything from housing to groceries to transportation and education typically costs significantly less in Portugal than in most other places. Even in the country’s biggest, most cosmopolitan cities like Lisbon and Porto, everyday expenses are far below those of places like New York City, Los Angeles, Miami, or Chicago.
Cost of Loving
You will love how inexpensive everything is in Portugal. For example, a very nice one- or two-bedroom apartment in one of Lisbon’s better neighborhoods can run as low as $650 per month. And if you move to one of Portugal’s smaller yet still culturally and historically vibrant cities, the same size apartment might be only $375 per month.
If you are more interested in buying, luxury condos and houses that would cost more than $1 million in places like San Diego or Boston can sometimes be found in the $100,000 to $150,000 range — even in coastal cities with an ocean view.
Food for Thought
But housing isn’t the only thing that is remarkably cheaper in Portugal. Food and wine are also generally much lower than in the US or Canada. Plus, many people consider the food to be fresher and better than back home thanks to the big, outdoor central markets found in most Portughese cities. Many couples have food budgets of less than $200 per month for fresh, healthy, and delicious food that reflects their new lifestyle.
That makes Portugal ideal for people looking to move somewhere exciting and exotic but who also are on a budget. Portugal also is a great option for retirees who need to stay within their budget.