Key to the more affordable lifestyle in Portugal is the cost of food, with everything from everyday groceries to eating out costing more in the UK. According to a press release from Kronos Homes, a meal in an inexpensive restaurant in Portugal costs €8.25 according to Numbeo, while a three-course meal for two in a mid-range restaurant comes in at €40.00. Equivalent meals in the UK cost £15.00 and £55.00 respectively. In the supermarket, meanwhile, small price difference on everyday items quickly add up. A litre of milk in Portugal costs €0.74; in the UK it is £0.99. A kilo of rice costs €1.08 in Portugal; in the UK it is £1.38. A mid-range bottle of wine in Portugal will set you back €4.00, while in the UK you would pay £7.00.
The data also found that utilities are also significantly cheaper in Portugal, averaging €110.95 per month for an 85m2 apartment, compared with £186.73 in the UK.
Good for families
While affordable homes in the sun are often firmly in the sights of retirees, families with young children can also benefit from the lower cost of living in Portugal. A month of preschool/kindergarten costs an average of €347.48 in Portugal, compared to £1,023.97 in the UK.
Numbeo’s data also scores Portugal highly (68.47) for safety, while the UK scores moderate (52.92). Portugal’s pollution score, meanwhile, is low (30.55) while the UK’s is moderate (40.44).
Property is also cheaper in Portugal than it is in the UK. In Portugal, the average price per square metre to buy an apartment is €2,938.35 in city centre locations and €2,036.29 elsewhere. In the UK, those costs rise to £4,349.62 per square metre in the city centre and £3,208.30 outside of it.
Alda Filipe, Sales and Marketing Director, Kronos Homes, said: “Portugal is so much more affordable than the UK in property terms. The average house price in the UK was £281,272 in December 2022. Here in Portugal, that’s enough for a brand new apartment by the sea, with extensive on-site sporting and dining facilities. Buyers can get far more value for their money in Portugal, which is why so many choose to purchase homes here.”
The favourable climate in Portugal is also another pull factor for people. The Algarve enjoys around 300 days of sunshine per year, meaning an active, outdoor lifestyle is far more achievable than it is in the UK. “Access to all of this is cheaper than the cost of the average home in the UK. With the cost of daily expenses also lower, Portugal delivers a compelling case for those considering a move overseas,” concluded Alda Filipe.