Zebo L. Says:
Can you give me a rough estimate of the cost of living in Portugal?
IL Executive Editor Jennifer Stevens Says:
Hi Zebo,
Portugal offers the lowest cost of living in Western Europe, where a couple can live nicely on $2,500 to $3,000 a month outside of the major cities.
Bump that budget up a bit for Lisbon, the country’s lively capital, Porto, the city known for port wine, set along the terraced vineyards of the Douro River, or the Algarve, Portugal’s coastal gem. Of course, it is possible to live on less or more, depending on your lifestyle.
North Americans who choose Portugal as their home can expect to spend one-third to one-half less than they do now in their home countries, depending on where they currently reside.
If you live in an expensive U.S. or Canadian city, Portugal will offer you significantly more bang for your buck. For those who live in rural, cheaper locations in North America, Portugal may come in about the same, but still offer you a better quality of life.
For Americans, healthcare in Portugal will be far less expensive and will work out to be your greatest point of savings. All residents of Portugal have access to both the public healthcare system and the low-cost, private system where many medical professionals speak English. Private health insurance policies start at around $50 per person but do increase with age, pre-existing condition, and the type of policy chosen.
Housing will be the largest expense, whether renting or paying a mortgage. In Portugal’s interior, expats can find rents starting from as low as $450 for a two-bedroom, furnished, older home packed with Portuguese charm. In Lisbon, it may be possible to find a furnished one-bedroom for under $1,000 close to amenities and public transport.
Food costs significantly less in Portugal since its produce is grown locally, fish is caught from its extensive coastline, and delicious wines can be picked up for just a few euro per bottle.
Restaurants throughout the country offer delicious meals at a fraction of what you might expect. It’s possible to find meals starting as low as $5 in tiny villages in the interior of Portugal and up to $12 in the more expensive cities and along the coast.
If you’d like a detailed breakdown of Portugal’s cost of living for each region and by each type of expense, you can find it in Chapter 6 of Escape to Portugal.
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