The British company analysed the average size of houses in 30 of the most populous cities in the United Kingdom, and then compared this on a global scale, taking into account the cost of buying a house by average size. And in the 23 cities in the world analysed, Lisbon appears as the fifth cheapest city to buy a house. Only ahead of Lisbon are the cities of Athens (Greece), Brussels (Belgium), Ottawa (Canada) and Madrid (Spain) as being cheaper to buy.
According to the study, to buy a medium-sized house in the Portuguese capital (84 m2) you need to spend £4,881.83 per sq.m, about €5,543.55, at the current exchange rate. The cost of buying this house is therefore around £410,073.72 (about €465,719). Lisbon appears in the fifth position of the cheapest cities, but it is also one of the cities with the smallest houses - it occupies the 16th place if we only analyse the average size, according to a report by Idealista.
Canberra, Australia, is the city with the largest houses – the average size is around 214 m2 - followed by Wellington, New Zealand, (202 m2) and Washington, USA (201 m2).
Unsurprisingly, Hong Kong ranks as the most expensive city-state in the world to buy a home. The price per square metre is £25,099.05 per m2, about €28,528.48. The cost of a medium-sized house, 45 m2, comes to £1,129,457.25, about €1,284,198.24.
Absolute b.s. Lisbon is not even vaguely cheap my most standards. Another recent article placed it as second most expensive I'm southern Europe, with only Paris being more expensive. This real estate propaganda needs to stop!
By Chico Ortiz from USA on 25 Jan 2023, 04:00
Yet another contradiction its now not expensive, its cheap to buy in Lisbon. Which is it why so many mixed messages.
By Graham from Porto on 25 Jan 2023, 08:23
It's always an article designed to steer the narrative, whether is an affordable or expensive place it does not matter cause the average/ median Portuguese cannot afford it. But the article is written for a selected audience: the foreign who , supposedly has unlimited funds. Don't ever forget, anything can be proved or unproved with stats .
By Paulo Correa from Other on 25 Jan 2023, 11:46
What a load of absolute bull!!!
By Bianca Barnard from Other on 25 Jan 2023, 14:26
Absolutely not true, an article posted by you guys yourself on October 2022 even states that Lisbon is the second most expensive city to buy a house in Southern Europe, overtaking Milan, Madrid and Barcelona.
Clearly the people who are considering this cheap do not live in these conditions that everyday Portuguese people live in, unable to even scrap together savings for a T1 deposits that are selling for 150k+, and these places are barely put together.
Of course comparing it to UK cities it's always going to be cheaper, but then continuing to say that it's cheaper than even Spain, is a load of BS. And to consider €465,719 cheap in a Portuguese economy, truly lost their minds...
By James from Lisbon on 26 Jan 2023, 16:59
For foreigners maybe and the 1% in Portugal, for the rest of us with an average Portuguese salary? Yeah right... Cheap lol
By Sérgio Nuno Silva from Lisbon on 19 Feb 2023, 10:48