Last Updated on February 18, 2022 by Lea Melo
Ever wonder where the rich and famous live in Portugal? This amazing country in Southern Europe has attracted thousands of foreigners in recent years. And those willing to pay any price for the best of the best tend to pick a few specific Portuguese regions. Find out in the article where the rich live in Portugal, how much properties in these areas cost, and plan your dream relocation! Who knows, maybe you can live here too?
Where do the rich live in Portugal?
We don’t know if money really brings happiness, but living in these places doesn’t seem to make anyone sad. While Portugal is already known for being a luxury destination at lower costs, there are still those who choose not to save money in paradise.
Today, you’ll get to know where the rich live in Portugal, in the most important Portuguese regions:
Get to know better the places where the rich live in Portugal
Each has its beauty and its advantages. Learn more about each of the places where the rich live in Portugal.
Where the rich live in Lisbon
By far, Lisbon is the most expensive city in Portugal. Not only in terms of real estate properties but also the cost of living. So, to go along with the ods, here are located the most expensive of the most expensive.
The neighborhoods in Lisbon with the most expensive square meter are:
- Santo António (Príncipe Real): 6,886 €/m²
- Campolide: 6,185 €/m²
- Avenidas Novas (Campo Pequeno): 6,127 €/m²
- Misericórdia (Cais do Sodré, Chiado, Bairro Alto): 6,117 €/m²
- Belém: 6,013 €/m²
Buying a property in these areas of Lisbon is something possible only for those who really have a lot of money. It’s not cheap to be a neighbor of Cristiano Ronaldo.
If you’re looking for a cosmopolitan, lively place to stay, central Lisbon is your perfect choice. There is always movement, business to do, and interesting people around.
But, of course, living in Lisbon doesn’t have to be that expensive. And even so, people live well in cheaper neighborhoods.
Where the rich live in Sintra, Cascais, and Estoril
The Portuguese Riviera has been known for being home to wealthy families for many years. Once a small fishing community, Cascais has become a cosmopolitan retreat for the wealthy in the past century.
Along with Estoril and its casino, it is a destination for fancy yachts and those who want to be close to Lisbon, but with a lot of luxury and exclusivity. Sintra and the region of Azenhas do Mar also attract those lucky ones with a desire for silence and fresh air.
The most exclusive and expensive areas in the Sintra-Cascais zone are:
- Cascais and Estoril: 4,605 €/m²
- Carcavelos and Parede: 3,411 €/m²
- Alcabideche: 3,144 €/m²
- Colares: 3,083 €/m²
Properties here are already cheaper than Lisbon, however, still above the national average of 2,297 €/m2.
It’s a great place to raise a family, for example, for its access to green areas, parks, beaches, and still being close to the country’s main urban center.
Where the rich live in the Algarve
Of all Portuguese regions, the Algarve is a recurring choice of wealthy foreigners looking for sun and luxury homes. It is the southern region of Portugal, famous for its stunning beaches and large English-speaking expat community.
The places where the rich live in the Algarve, and their square meter price, are:
- Almancil (Quinta do Lago): 4,234 €/m²
- Odiáxere (near Lagos) 4,187 €/m²
- Sagres 3,845 €/m²
- Quarteira (Vilamoura) 3,303 €/m²
- Ferragudo (between Lagoa and Portimão) 3,134 €/m²
- Loulé 3,157 €/m²
Living in the Algarve is, as you can imagine, a privilege. One that many foreigners treat themselves to. In fact, this area has the largest percentage of the foreign population in Portugal.
Where the rich live in Porto
The northern region of Portugal is home to temperate forests, industries, tradition, and colder weather. However, there are also beautiful locations where the rich and famous choose to relocate. The capital of the region, the beautiful city of Porto, has also seen its real estate market appreciate greatly in recent years.
Anyone who wants to live big in Porto should get to know the best – and also the most expensive – areas of the city.
Here are the areas in and around Porto with the most expensive square meter prices:
- Aldoar, Foz do Douro, and Nevogilde: 3,683 €/m²
- Cedofeita, Santo Ildefonso, Sé, Miragaia, São Nicolau, Vitória (central Porto): 3,521 €/m²
- Lordelo do Ouro and Massarelos: 3,414 €/m²
- Matosinhos and Leça da Palmeira 2,698 €/m²
Are you interested in living in Porto? Some say that the northern city is worth more than Lisbon, but this is something you have to discover for yourself. The decision between Lisbon, Porto, or Algarve is also a tough one that every expat has to go through.
Where the rich live in Setúbal and the South Bank
The South Bank of Lisbon (Margem Sul), as well as the Setúbal area and the Alentejo coast, are also traditional playgrounds for the wealthy Lisboners. However, in recent years, foreigners have discovered the region’s beautiful landscapes. Along with the warmer climate and proximity to the center of the capital, Lisbon, it was natural that the area attracted the eyes of the richest in the world.
Discover the favorite places of the rich in these areas and how much a square meter costs there:
- Carvalhal: 3,853 €/m²
- Santiago (Sesimbra): 3,789 €/m²
- Comporta: 3,444 €/m²
The rich live in Portugal looking for places like the southern bank areas and the Troia peninsula. With exclusivity, nature, mild climate, and easy access to facilities. Also, a great place to raise a family, with some of the best international schools in Portugal.
What makes Portugal so attractive for the wealthy?
Portugal is not known for being a rich country. In fact, it experienced many years of crisis and even famine since the 20th century.
However, over the last years, thousands of foreigners with a lot of money have discovered they love Portugal. This little paradise in Southern Europe, so safe and so forgotten, has become in the last decade a playground for the world’s rich.
And what do they get out of it? They get to live in a beautiful place, with a pleasant climate, welcoming people, and tax benefits. Not to mention that Portugal is the 4th safest country in the world, and has a surprisingly low cost of living.
Besides, getting a visa and residence permit to live in Portugal can be much easier than you think. In fact, the Portuguese government has started programs aimed at attracting exactly foreigners who have money to invest in Portugal. This is the case of the D7 Visa, for passive income, and the famous Golden Visa.
What celebrities have moved to Portugal?
They are people like us! Meet some of the world’s celebrities who have chosen to move to Portugal and enjoy the country’s lifestyle.
- Christian Louboutin;
- Michael Fassbender and Alicia Vikander;
- Monica Bellucci;
- Garret McNamara.
Who am I to antagonize Madonna, right? Certainly, Portugal has its value, not just for being chosen by famous people. Every year, millions of people visit the country. The secret is never to leave!
What about the cheapest cities to live in in Portugal?
Portugal and its millionaire places are beautiful, sure. But you may be wondering, is there somewhere more affordable?
Of course! Portugal is famous precisely for offering a quality of life at one of the lowest costs of living in Europe. Some of the cheapest cities to live in Portugal are:
- Castelo Branco;
- Viana do Castelo;
- Figueira da Foz.
After all, living well doesn’t mean living with a lot of money. Can it help? Sure, but life goes beyond money. As long as you bring your family to Portugal with you, you’ll be fine. Home is where your heart is.
Have you started planning your move to Portugal yet?
No matter what your financial condition, Portugal can be a great place to start again. Here, quality of life doesn’t care about money, and it’s free for everyone. Furthermore, it is a country with a much lower cost of living than the rest of Europe for expatriates.
Consider visiting Portugal before moving. Going on a scouting trip to Portugal may help you discover which region fits you best.
If you want to know more about life in Portugal, make sure you read our articles on the blog. Also, join our All About Portugal For Expats Facebook group to meet other people with similar experiences.
See you in Portugal!