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See how Portugal’s properties stack up compared to prices in London Zones 1, 2 and 3

As a regular top ranker in lists of the world’s most expensive cities, London is packed with pricey real estate. But how do prices in the capital compare to those overseas?

In advance of the Moving to Portugal Show and Seminars in London on 14th March 2024, the Portuguese Chamber of Commerce in the UK has asked three of its exhibitors – The Agency RE, Savills and Fine & Country – precisely that. Here are the results.

London Zone 1

According to Rightmove*, the average Zone 1 property price over the past 12 months was £1,474,810. Take that budget over to Portugal and there are plenty of luxurious homes to choose from.

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On Lisbon’s famous Avenida da Liberdade (think Regent Street as the equivalent Monopoly Board position), a beautiful three-bedroom/three-bathroom apartment costs €1,650,000 through the Agency RE. Located in the elegant Telhal 72 Liberdade building, with generous terraces and unobstructed views over the city and the Torel Garden, the apartment boasts minimalist design and a meticulous finish. There’s also a shared electric car service for residents’ convenience.

In Portugal’s southern Algarve region, that kind of budget is enough to pick up a villa with stunning sea views, just 400m from Porto de Mos beach. Available through Fine & Country, the three-bedroom, four-bathroom home comes with beautiful grounds, a heated outdoor swimming pool and a delightful sunroom.

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London Zone 2

Rightmove shows an average property cost of £996,663 for properties in Zone 2 over the past 12 months. That’s enough to buy a stunning modern villa with private pool and rooftop jacuzzi in Marina Albufeira, just 300m from Albufeira’s attractive old town. Priced at €1,125,000, the three-bedroom/four-bathroom home features open plan living, a heating pump and solar panels, as well as an electric fireplace, underfloor heating and a home automation system. The villa also features a 68 sqm basement, ideal for transformation into a cinema room, gym or games room.

London Zone 3

Out in Zone 3, the average property price over the past 12 months stood at £851,152. Hop over to the Algarve and that’s enough to buy a four-bedroom/two-bathroom villa with private pool within walking distance of the stunning Galé beach. Priced at €985,000, the villa blends traditional local architecture with contemporary comfort, with living space flowing seamlessly from inside to out. The property includes a three-bedroom main residence and a one-bedroom autonomous annex complete with kitchen, bathroom and living space, providing plenty of possibilities for flexible use.

See how Portugal’s properties stack up compared to prices in London Zones 1, 2 and 3 Harrow Online
4 bed villa near Galé beach via Agency RE

Buyers wanting an alternative option in the Algarve can pick up an elegant, three-bedroom townhouse with cinema room, plunge pool and communal tennis court at The Crest in Vale Formoso for €975,000, available through Savills. Just 10 minutes from the famous golf courses and beaches of Quinta do Lago and Vale do Lobo, the light-filled property provides an open plan living and kitchen area, along with impressive sea views from the terrace off the main bedroom.

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London Overall Average

Rightmove’s data also reveals that the overall London average property price for the past 12 months was £729,802. Buyers with that budget will find plenty of choice in Portugal. One particularly standout home can be found in Lisbon’s vibrant Campo de Ourique neighbourhood. The two-bedroom/two-bathroom newly built apartment, priced at €840,000, is due to be completed in May 2024. The spacious interior and high-end finish make this an ideal investment opportunity or a perfect main residence from which to enjoy Lisbon life.

Christina Hippisley, General Manager of the Portuguese Chamber of Commerce in the UK said, “Londoners find they can enjoy a wealth of choice when they transfer their property budgets over to Portugal. Moving to Portugal also delivers countless lifestyle benefits, all just a couple of hours’ plane-ride from the UK. With a range of visa options and tax incentives available as well, making the move to Portugal can make sound financial sense.”

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