Porto
Living

Expats' Guide: Cost of Living in Porto

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Brenda L.
11/11/2024

10

min read

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Porto, Portugal’s vibrant northern city, offers a unique blend of history, modernity, and affordable living.

Known for its stunning architecture, famous Port wine, and coastal beauty, Porto has become increasingly popular among expats, digital nomads, and investors.

Here’s a deep dive into the cost of living in Porto, covering everything from housing rentals and grocery prices to property investments.

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.

Type of Accommodation Central Neighborhoods Outer Neighborhoods
One-bedroom apartment €900 – €1,100 €700 – €900
Two-bedroom apartment €1,200 – €1,400 €900 – €1,100
A room in a shared apartment (per person) €400 – €550 €250 – €350

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.

Property Type Central Porto (€ per m²) Outer Neighborhoods (€ per m²)
Apartment (1-bedroom) €3,000 – €5,000 €1,800 – €3,000
Luxury Apartment (Riverside) €5,500+ €3,000 – €4,000
Family Home (3+ bedrooms) €3,500 – €5,500 €2,000–€3,500

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.

Utility Type Average Monthly Cost (€)
Electricity, Water, Gas €100 – €150
Internet (high speed) €30 – €40

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.

Item Average Price (€) Estimated Monthly Spend (€)
Milk (1 liter) €0.91 €5 – €6
Bread (500g) €1.35 €12 – €15
Eggs (12) €2.77 €10 – €15
Chicken breast (1 kg) €6.68 €20 – €30
Cheese (1kg) €9.25 €15 – €20
Fresh produce (fruits & vegetables) Variable €40 – €50
Total Monthly Grocery Budget €150 – €200

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.

Dining Option Cost (€)
Casual meal at a local cafe €7 – €12
Prato do Dia (lunch special with drink) €6 – €10
Dinner for two at a mid-range restaurant €40 – €60
Coffee (espresso) €1.00 – €1.50
Glass of Port wine €3 – €5

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.

Transport Option Cost (€)
Single ticket (metro/bus) €1.20 – €2.00
Monthly Andante Card €30 (central zones) / €40 (all zones)
Taxi (per kilometer) €0.70 – €1.00
Uber/Bolt (per ride) Starting from €3.50
Bike-sharing subscription €2.50 per month

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.

Healthcare Service Average Cost (€)
Basic GP visit (public) €5 – €15
Private GP visit €50 – €70
Private health insurance €40–€100 (monthly, depending on plan)
Dentist consultation €30 – €60

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.

Activity Average Cost (€)
Cinema ticket €6 – €10
Gym membership €25-€40 (monthly)
Local beer (bar) €2.00 – €3.00
Museum entry €6 – €10
Wine tasting at a cellar €10 – €20

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.

9. Sample monthly budget for a single expat in Porto

Here’s an estimated monthly budget for a single person living in a central area of Porto, based on the costs discussed above:

Expense Category Estimated Monthly Cost (€)
Rent (1-bedroom, center) €1,000
Utilities & Internet €150
Groceries €175
Dining Out (3–4 meals) €120
Transportation €30
Health Insurance €40
Leisure and entertainment €100
Total €1,615

Final words

Porto provides an excellent quality of life at a lower cost than many other European cities, balancing affordability with vibrant city living.

From well-priced rentals and manageable grocery costs to affordable dining and entertainment, Porto caters to diverse budgets. For those looking to make a long-term commitment, the property market offers promising investment opportunities.

Whether renting or buying, Porto offers a rich, engaging lifestyle without the high expenses of other European capitals.

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