Expats' Guide: Cost of Living in Porto

1. Housing costs in Porto

Housing is the largest part of a budget for those relocating to Porto. Rental prices vary greatly depending on location, property type, and whether you’re renting long-term or short-term.

Central Neighborhoods: While areas like Ribeira, Cedofeita, and Baixa are popular among expats and are close to amenities, they come at a higher price. ****Expect to pay around €1,000 for a one-bedroom apartment here.

Outer neighborhoods: More affordable options can be found in neighborhoods like Bonfim and Campanhã, where one-bedroom apartments can range from €700 to €900.

2. Purchasing property in Porto

Buying property in Porto is a popular investment, with prices still more affordable than in Lisbon but rising steadily due to increased demand.

Important Considerations for Buyers:

• Taxes and Fees: In addition to the property price, buyers need to consider IMT (Property Transfer Tax), which can be up to 6% of the property value, Stamp Duty at 0.8%, and notary fees that range from €1,000 to €2,000.
• Property Management Fees: If the property is rented out, management services typically charge 5-10% of the rental income.

3. Utilities and Internet

Utilities fluctuate with the seasons and apartment size, especially with heating during winter. Here’s an estimate of monthly utility costs for a medium-sized apartment.

Many rentals include basic utilities, but confirm with your landlord before signing. For internet, major providers like NOS, Vodafone, and MEO offer competitive high-speed plans starting at €30 per month.

4. Grocery and Food costs

Porto offers a range of grocery stores and markets with affordable local produce and essentials. On average, a single person can expect to spend around €150 to €200 per month on groceries.

Local markets, like the famous Mercado do Bolhão, offer fresh produce at competitive prices, often cheaper than large supermarkets like Continente or Pingo Doce.

5. Dining out in Porto

Eating out in Porto can be affordable, especially at local cafes and traditional Portuguese eateries.

Porto is famous for the francesinha, a hearty sandwich dish unique to the city, available for around €8 to €12. For fine dining, there are several Michelin-starred restaurants where a full-course meal can cost €60 or more per person.

6. Transportation costs

Porto’s public transportation is efficient, with a reliable metro, tram, and bus network. For those who frequently commute, a monthly pass provides substantial savings.

The Andante Card is a popular option for frequent travel and offers discounts for the metro and buses. Porto is also quite walkable, which can further help save on transport costs.

7. Healthcare and insurance

Portugal’s public healthcare system is accessible to residents, but private insurance offers additional convenience and faster service.

For expats with a residence permit, Portugal’s public healthcare system offers affordable care. Many opt for additional private health insurance, starting around €15 per month for standard plans, which cover more specialized care and reduce wait times.

8. Entertainment and leisure

Porto offers various affordable leisure options, from historical sites and river cruises to live music and social gatherings.

For outdoor enthusiasts, Porto’s riverfront and nearby beaches are free to explore, and many parks offer green spaces ideal for picnics, jogging, and cycling.