Is Property Cheaper in Spain or Portugal? A Guide for Global Investors

When looking to invest in real estate in Europe, Spain and Portugal are two of the top contenders. Both countries boast beautiful landscapes, favorable climates, and rich cultural histories, making them attractive to both lifestyle buyers and investors alike. But when it comes to property prices, is Spain or Portugal the more affordable option?

Let’s explore the details and help you determine which market might be the best fit for your investment goals.

Who Am I?

I’m Ghada Benitez, also known as GG. I’m a Certified International Property Specialist (CIPS) and Licensed Realtor® with a degree in Economics from the University of California, San Diego (UCSD). My career focuses on helping investors from around the world—especially the U.S. and Canada—build their real estate portfolios in prime locations like Spain, Dubai, and California. I’m also the host of The Dubai Connect Podcast™, where I provide insights into global real estate markets.

In the same way I’ve established “The Dubai Connect,” I’m now building my presence as “The Spain Connect,” where I help guide investors through Spain’s exciting real estate opportunities. You can follow my YouTube channel, GG Benitez International, for videos about the most dynamic real estate markets across the globe.

Now, let’s answer the question: Is property cheaper in Spain or Portugal?

Comparing Property Prices: Spain vs. Portugal

Spain:

Spain’s property market in 2024 offers a range of prices, heavily influenced by region:

• Costa del Sol: This region remains one of the most popular for international buyers, with average property prices ranging from €232 to €279 per square foot. Marbella, in particular, can see even higher prices due to its luxury appeal.
• Madrid & Barcelona: In these major cities, property prices range between €325 and €465 per square foot in prime areas.
• Andalusia & Valencia: For more affordable options, cities like Seville and Valencia offer prices averaging between €140 and €186 per square foot.

Portugal:

Portugal, while smaller, has also experienced rising demand in recent years:

• Lisbon: Prices in Lisbon range from €372 to €465 per square foot, similar to Spain’s major cities.
• Porto: More affordable than Lisbon, Porto offers prices between €232 and €279 per square foot.
• Algarve: Popular with tourists and retirees, the Algarve’s property prices average €186 to €232 per square foot, slightly more affordable than Spain’s Costa del Sol.

Which is Cheaper?

On average, Portugal is slightly more affordable than Spain, particularly in regions outside of Lisbon. However, Spain’s larger real estate market provides greater diversity in terms of investment opportunities, infrastructure, and long-term growth potential. Investors looking for a more established and developed market might find Spain a better fit.

Why Spain Stands Out for International Investors

1. Connectivity and Infrastructure:
   Spain’s strong connectivity to the rest of Europe is one of its key advantages. With major international airports in Madrid, Barcelona, and Malaga, Spain is a gateway to the rest of Europe and beyond. Madrid-Barajas Airport, for example, is one of the busiest in Europe, offering direct flights to major global cities, which enhances Spain’s appeal for international buyers.
2. Language and Expat Communities:
   In Spain, English is more widely spoken, especially in regions like Costa del Sol and major cities such as Madrid and Barcelona, where expat communities are thriving. This makes Spain more accessible for non-Spanish speakers compared to Portugal, where English is less common outside tourist areas.
3. Diverse Climate and Lifestyle Options:
   Spain’s varied geography offers a wide range of climates and lifestyle options. Whether you’re looking for the Mediterranean warmth of the southern coast, the temperate climate of the north, or the vibrant city life of Madrid and Barcelona, Spain provides a broader spectrum of choices compared to Portugal.

Certified International Property Specialist (CIPS) Advantage

As a Certified International Property Specialist (CIPS), I’ve undergone extensive training to help clients navigate cross-border transactions. The CIPS designation is the only international designation recognized by the National Association of Realtors (NAR), and it means I can provide specialized knowledge and resources for international real estate investors. Working with a CIPS agent ensures you’re getting expert guidance on global property investments, helping you make informed decisions with confidence.

Ready to Invest in Spain, Dubai, or California?

If you’re ready to explore property investments in Spain, Dubai, or California, I’m here to help. With my education, certifications, and licenses, I can guide you through the process of identifying the best opportunities in these dynamic real estate markets. Whether you’re looking for a vacation home or a high-yield investment property, I can connect you with the top developments and opportunities in the world.

To learn more or start your investment journey, follow my YouTube channel, GG Benitez International*, where I share videos about the globe’s most exciting real estate markets. You can also contact me directly at GG@GGBenitezInternational.com or via WhatsApp.

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Ghada Benitez (‘GG’)
Certified International Property Specialist / Licensed Realtor®
Host of The Dubai Connect Podcast™
GG Benitez International
Realty Executives Dillon
DRE# 01487964