More than half of the houses registered with the Finance Department in Portugal are valued at less than €50,000 euros, with most of these properties located in interior territories, according to a report by Jornal de Notícias, citing data from the Ministry of Finance. The records also show that 2,937 properties are worth more than €1 million.

Figures show that there are more than 6.5 million homes registered across the country, of which almost 3.4 million (51.8 percent) have a taxable asset value below €50,000. Most of these low-rated houses are located in inland areas, with emphasis on the municipalities of Alcoutim, Corvo and Mértola, which account for 96 percent of the total.

On the opposite end of the scale, Cascais and Albufeira – both with a 23 percent share of houses worth less than €50,000 – are the municipalities with the lowest proportion between “expensive” and “cheaper” houses. The records also show that 2,937 houses are worth more than one million euros, distributed across 132 of the 308 municipalities in the country. Most are located in the municipalities of Lisbon (714), Cascais (395) and Loulé (326).