A new study has revealed that it is cheaper to buy a home in Portugal than to rent one

The study, based on data collected by real estate databank Confidencial Imobiliário, bases numbers on a 90-square metre home and concluded that buying works out between 14% and 61% cheaper than renting, including in Lisbon and Porto, where the difference is 14% and 30% cheaper respectively.

According to the Portuguese news service Lusa, in 13 of the 18 district capitals, buying a 90-square metre home costs less than €90,000, ranging from €53,855 in Guarda to €86,485 in Setúbal.

Évora, Coimbra, Faro, Porto and Lisbon are exceptions. In the first three, buying a 90-square metre home costs between €100,000 to €130,000; in Porto €164,714 and Lisbon €305,429.

In the Algarve, Portimão is €125,444, Tavira and Lagos are around €165,000, and Loulé is around €172,566.

In the Lisbon metropolitan area, Cascais is already above €225,000 and Oeiras close to €195,000. Areas such as Barreiro, Seixal and Montijo, to the south, and Sintra, to the north, are still below €100,000.

In the Porto area, Matosinhos surpasses €100,000, with average property prices in Valongo and Gondomar between €70,000-€77,000.

In Lisbon, average monthly purchase payments for this type of home are around €1,011. Monthly purchase payments vary between a minimum of €182 in Guarda and €564 in Porto.

Average monthly rents for a 90-square metre home in Lisbon are €1,170, Porto €810, with all other district capitals, including Faro, below €600.