Last Updated on July 31, 2024 by Laila Oliveira
For years and years, people from more expensive countries have migrated to live somewhere they can have the lifestyle they dream of. And Portugal has been that destination for thousands of people seeking an affordable yet enriching lifestyle. But is Portugal truly the cheapest country to live in?
While it is undeniably affordable, especially compared to other Western European nations, it may not be the absolute cheapest. Countries like Poland and Bulgaria often rank lower in cost of living.
However, Portugal’s balance of affordability, safety, and quality of life is hard to beat. Explore with us the specific pros Portugal offers to expats, the budget breakdown of the living costs, and a comparison with other budget-friendly countries.
Why does Portugal attract so many expats?
Whether Portugal is the cheapest country to live in is another debate. The first question is why the country attracts so many expats.
Let’s learn what it is about the country that has made it so popular over the years.
Low Cost Of Living
Although the country may not have the lowest living rates in the world, it definitely has an affordable cost of living.
For example, if you exclude rent, then the monthly estimate for a family of four is €2,362, and only €670 for a single person. Even in 2024, this is significantly low for Europe.
Housing and rent prices are specifically much lower than in other Western European countries. And it has been one of the top reasons why expats from the UK, Canada, and the US relocate.
High-Quality Life
Portugal is not just among the cheapest countries to live in. It maintains and offers a high-quality lifestyle within that budget. Major cities like Lisbon and Porto offer a variety of shopping centers, entertainment venues, and dining options.
From high-end boutiques to local markets, there’s something for everyone. The country also offers recreational facilities, such as sports clubs and parks.
Portugal’s transportation system is efficient and affordable, with an extensive network of buses, trams, and trains connecting cities and rural areas. Lastly, Portugal’s healthcare system is known for its high standards.
Public healthcare is available to residents and covers a wide range of services, from routine check-ups to specialized treatments. Private healthcare options are also plentiful, offering shorter wait times and personalized care.
The high-quality life has attracted many tourists, digital nomads, high-skilled professionals, and retirees.
Fast-Track Route To Citizenship
This reason may leave you slightly surprised. Families and individuals who have worked hard to obtain citizenship in a better country know all too well how important this is.
Being one of the only few European countries to offer a fast-track route to citizenship has also contributed to why people invest their time, effort, and money here. Many Golden Visa investors are Chinese, Brazilians, or Indians, who have invested in exchange for citizenship in 5 years.
But the Golden Visa isn’t the only way this is possible.
Portugal offers different visas depending on the purpose of the visit, making the transition process smooth. If you’re moving in for a job, you’ll directly apply through the Work Visa.
Alternatively, if you’re a retiree or an individual with passive income from investments or pensions, you can apply for a D7 visa.
In any case, after five years of continuous residency, you can apply for permanent residency. Once you have your permanent residency, you need to maintain it for another year to become eligible to apply for Portuguese citizenship.
Cost of living in Portugal
Let’s move on to numbers! To know whether Portugal is the cheapest country to live in in 2024, we must look at the data.
Here’s a complete budget breakdown for a single individual:
| Type of Expense | Estimate Cost |
|---|---|
| Apartment (1 bedroom) Outside of Centre | €730 |
| Utilities | €115 |
| Groceries | €250 |
| Monthly Transport Pass | €40 |
| Internet | €37 |
| Three-course meal for 2 people at a mid-range restaurant | €40 |
| Fitness Club, Monthly Fee for 1 Adult | €37 |
As you can tell from the data above, you can live in Portugal for under €1,500 a month. And you can find even more affordable options if you search outside Lisbon and Porto.
While all this is true, Portugal may not be the cheapest country to live in for everyone. Many Asian countries are much more affordable than Portugal and are still excellent options to call home. If that’s something you’re looking for, continue reading for our complete analysis!
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Top 10 Cheapest Countries To Live In
Here’s a list of the top 10 cheapest countries to live in the world. This list is in no specific order with reference to cost of living or quality of life.
- India: With a monthly budget of €435 for a single individual, India offers affordable living with low-cost housing, food, and transportation. Many can confirm that it’s the cheapest country to live in.
- Nepal: Living in Nepal is economical, with a monthly budget of €600 with rent. Affordable housing and transportation make it a great destination in a picturesque setting.
- Vietnam: With €650 per month, Vietnam provides a good quality of life with low-cost accommodation, food, and entertainment.
- Tunisia: Around €550 per month in Tunisia is a decent amount of money for a single person.
- Egypt: A monthly budget of €1,359 covers all basic needs, including housing, food, and transportation.
- The Philippines: The Philippines offers a cost-effective lifestyle with a monthly budget of €700. Affordable daily expenses make it a popular choice for budget-conscious individuals seeking a tropical environment.
- Thailand: Its cost of living ranges from €750 to €900 per month. It offers affordable accommodation, food, and a vibrant culture.
- Indonesia: A monthly budget of €600 to €900 is sufficient for a comfortable lifestyle. Low costs for rent and daily necessities make it a good option for those seeking affordable living in Southeast Asia.
- Mexico: The living cost is manageable for a single person at €1,150 monthly. The country’s affordability attracts individuals who want to live close to the USA.
- Nigeria: With an average spending of €1,000 to €1,100, Nigeria is an African country on the western coast. It remains an option for many expats.
All estimates are taken from Numbeo (as of July 2024).
Comparison of Portugal with Other Affordable Countries in Europe
Now let’s address the main question: Is Portugal the cheapest country in Europe to live in? We’ve compared it with other affordable countries such as Bulgaria, Romania, and Hungary. Check out their costs and see if Portugal is the right fit for your pocket.
Bulgaria
Individuals can comfortably live in Bulgaria with €635 monthly expenses, excluding rent. Rent for a one-bedroom apartment in Sofia ranges from €300 to €600 per month, and the utilities for such an apartment cost around €50 to €100.
To break down, internet plans add up to €30, and mobile phone plans start from around €10 monthly. In Bulgaria, eating out at a casual restaurant can cost around €5 to €10 per person.
Groceries are usually within the €200 budget per month for one person. However, keep in mind that the costs may vary based on your lifestyle, location, and spending habits.
Romania
In Romania, you can stretch your budget further than you ever thought possible. You can have a one-bedroom apartment in Bucharest between €300 and €600 a month. In smaller towns, you could be looking at rents as low as €200.
Utilities like electricity and water usually cost around €50 to €100 monthly for a small apartment. Good Internet with unlimited data can be found for between €20 and €30, and mobile phone plans with calls and data start from €10 per month.
Grabbing a bite at a casual restaurant won’t hurt your wallet, costing around €5 to €10 per person. Groceries are a steal as well. You could spend €150 to €200 per month on groceries for one person, depending on how much you like to cook and what you want to eat.
Hungary
Hungary is another wonder in a budget. If you’re a single person living alone, your estimated monthly costs would be €637 without rent. A one-bedroom apartment in the city center would cost around €460 monthly. A similar one outside the city center would add up to €357 monthly.
Apart from this, you can have a meal at a decent restaurant for €45.72, and your groceries would be within €55. If you count all utilities, including Internet, your bill may add up to €174.
Poland
In Poland, the cost of living varies by city, but here’s an overview. In Gdansk, a one-bedroom apartment costs around €770 in the city center. A similar apartment adds up to €1,031 in Warsaw.
Utilities such as electricity, heating, cooling, water, and garbage are around €262 to €223 monthly for an apartment. Likewise, the Internet costs around €14.19 to €15.30.
Additionally, typical grocery items like a gallon of milk, a dozen eggs, a pound of chicken fillets, and beef cost €3.37, €2.89, €2.66, and €4.92, respectively. A meal at a lower-end restaurant costs around €8.22.
Czech Republic
In the Czech Republic, housing costs vary significantly depending on the city. Prague is the most expensive; a one-bedroom apartment in the city center costs around €990. Outside the city center, the rent drops to about €734.
Other cities like Brno and Ostrava are more affordable, with rents of approximately €692 and €473 in city centers. On average, monthly utilities of electricity, heating, cooling, water, and garbage for a single apartment cost €265. Additionally, Internet and a mobile phone monthly plan add up to €43.
Grocery shopping in the Czech Republic is also reasonably priced. A monthly grocery bill for one person might be around €200. Eating out is affordable, with a meal at an inexpensive restaurant costing about €7 and one at a mid-range restaurant costing €39.
Do you need help moving to Portugal?
After assessing various countries, it is true that while Portugal may not be the cheapest country to live in, it offers an exceptional balance of cost and quality of life.
It provides an attractive blend of affordable living, excellent healthcare, rich cultural activities, and a high safety standard. All of them have a monthly budget of around €1,200 to €2,000, depending on the number of people and lifestyle.
The cost of housing in Portugal is relatively low compared to many Western European countries, especially if you choose to live outside major cities like Lisbon and Porto. Smaller towns and coastal villages provide a charming and affordable alternative, allowing you to experience the beauty of Portugal without a hefty price tag.
If you need help moving to Portugal, feel free to book a consultation with Viv Europe. Our team of experts is here to guide you at every step, from the visa application to finding your budget-friendly accommodation.
For more information about post-expat life in Portugal, join our Facebook Group – All About Portugal For Expats. Read stories, ask questions, and get details for the latest webinars and more! See you soon!
