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COST OF LIVING IN PORTUGAL | FULL BREAK-DOWN FOR 2024
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- Опубликовано: 11 янв 2024
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Nice video guys, as always 👍 As a Portuguese, I totally agree with you: things got more expensive especially in real estate. If you want to have a good affordable house you need to choose a fine location outside Lisbon, Porto, Algarve and Madeira. I know the perfect location, but I won't disclose it to keep it affordable. I want to retire within a few years there and for the moment it's outside tourists' radar. Let's keep it that way 😁
Great video! Thank you for sharing it! I left Madeira over 20 years ago, every time I go back each it hurt me to see how expensive it has become! And yes as you both mention, people salary it’s so low! I don’t know how people live if not living with at home or with relatives etc.. crazy
exactly, I been here since 2017 and after covid we had to move back in with my in-laws in order to survive.... =(
I do agree that everything is very expensive, but keep in mind that these are prices for the big cities and apartments in the city center. The same applies for the prices for food and drinks. There are several other places where the prices are below 600€/month for a decent apartment (at least 50m2). I also believe that when you look for it, you're looking for it in English websites, which are made for people coming from outside and it is assumed that you guys have more money to pay for it and they take advantage of that.
Its still possible to find easily a good meal with everything included at less than 10€.
Also, if you're on a tighter budget i would suggest to find a place to live next to the coast but between Porto and Lisbon, where you find smaller cities that, yes, are more expensive than a few years ago, but still affordable. As you mentioned, Coimbra is a good example, but there are other smaller cities that are even cheaper and just as nice. Look for Nazaré or Ovar for example. Also, if you are in an even tighter budget then the interior of the country is even better, and there you can find the really good deals. And sometimes these places are less than 1h away by car from the big cities.
Last suggestion is that you can find better deals if you look for unfurnished apartments. In Portugal its not normal to rent something already furnished, so when you look for furnished apartments, you're seeing apartments that are targeting immigrants and the prices are made for them as well.
Imagine for locals that earn 800€ a month...
You should try a month with that amount considering that rent would be the same as a salary
Yep, we know. It amazes us that the people don’t revolt. Salaries need to follow inflation and general rise in cost of living!
@@joenandamalie Most people on low salaries are foreign or foreign born, hence the disconnect. Many Portuguese have seen their incomes appreciate (note that most of those incomes do not come from salaries), and the state coffers have also grown, allowing the government to distribute more money for those that depend on, work for or sell to the state, so for them this is a beneficial situation.
Nevertheless, if you look at polling numbers for the Chega and other non-traditional parties, particularly among the younger generations, you will notice a simmering discontent.
It goes without saying, however, that this is a problem that's affecting most of the world as the price to pay for the response to the covid pandemic.
I agree with Joen, Portugal is not longer a cheap place. People need to get paid more.
People are paid based on the value they provide.
But when the prices of food and house are sky rocketing when the wages stagnating, it is called inflation which leads to depression and tough times for middle class and workers class@@inpersonaDK
The Portuguese government has failed its citizens. The stagnant wages and pricing pressure of the rest off the EU has created a system that is not workable for the average citizen. Of course rich immigrants will be blamed for the issues, just like poor immigrants are wrongly blamed for issues in rich countries. Easy to look at the "new" people in country and assign blame for whatever the new ailment is. The Portuguese should be asking themselves and their government what they can do to make themselves more salary competitive with their neighbors and EU partners. The average wage of Spaniards is 65% higher, and those guys love their siestas. But yes, blame the tourists and immigrants, it feels better than looking inward and finding a real solution.
Completely agree with you. Mass tourism and immigration are always caused by governmental decisions. Blaming the tourists or immigrants is counter-productive. You can't blame them. In Denmark, Sweden, Germany etc there are massive challenges with "well-fare tourism", where these people simply come for a better life as they know they can get free money. How can you blame them? You can't! Anyone of us would have done the same if we lived in poor and miserable conditions.
Believe me, many Portuguese people are doing exactly that. The problem is that Portuguese people are extremely complacent and "peaceful", therefore in most cases there is not enough Government accountability. People in general don't blame foreigners only, that's just social media hype.
What I liked most about this video was Amelie's new haircut.....amazing....it's fantastic how you can renew and look more beautiful every day
We love living in Portugal and yes some of the prices have gone up but having come from the UK most prices are cheaper, especially electric, gas, water which are more than four times as much as here and we like to mix in with the locals who know the best places to eat and drink.
Groceries are about the same though, some things surprisingly more expensive and others cheaper.
Electricity is cheap here …
@@maxflight777 think it went down again recently didn't? Im with EDP...
Groceries are about the same as UK, some things like electronics and cars are much more expensive.
That combined with the hugely higher earning potential of UK makes Portugal look a little sour.
I go to Portugal 3 times a year. Was in Algarve in October. I have always found food and drink prices to be very reasonable, even in Lisbon. Certainly never paid €6.5 for a beer 😂 Thanks for the great content by the way.
It's because you're not dumb tourists like us 🤣
loved this episode... some of these kind of videos can be boring but you made it entertaining and interesting. living in Mexico I have done a mix of living in short term rentals and air bnb's. its the same mentality as the long term rentals you showed here... so many hosts and owners are just out there fishing for suckers to pay outrageous prices. a lot of times I would contact air bnb hosts to see if they are flexible on their prices. I would say about 75% of them are. clearly, the rational approach is that its better to have someone staying in your place and making slightly less money rather than have it sitting empty. but the other 25% of people are just stubborn and greedy and refuse to offer a lower price and then end up with their place sitting empty. I find it a fun game to play, especially here in Guadalajara as the options are almost endless and there is little or no stress involved on my end as the renter.
Thanks my friend! Yeah, it's not the most sexy topic, but we felt that an in-depth update was due! :) It's amazing how so many property owners have such a strong emotional attachment to what they think their property is worth. On Madeira there are decade old listings sitting with the same price tags. I'm guessing these people are waiting for some lucky day where whatever big hotel corporation or billionaire dude come through to make some project! :D
Great video guys, it is quite depressing to browse trough Idealista. A month ago I called to book a viewing for a nice and spacious T1 at 1.2K , 10m after the call they raised it to 1.5K.. They realized they were asking for too much so two weeks later they dropped it to 1.3K. Really makes you wonder how they even come up with their prices if they are juggling so much.
Thanks vommir! Totally agree. There are so many insanely greedy landlords who really doesn't understand the actual value of their property, so they just toss a random sticker price number that feels good in their bellies. One of the funniest examples on this is land for sale on Madeira. You wouldn't believe the outrageous prices land owners are trying to sell for. And most of the time they don't even know what is allowed to be built on their land. They are slowly starting to realize that the trees don't grow into the sky! :D
That's crazy indeed. Hopefully things will get better but I don't think it's for anytime soon.. @@joenandamalie
The real estate game here is an upside down world! In November we viewed an apartment in what could best be described as sort of a council housing aesthetic. Just a collection of old apartment blocks. Nevertheless, the apartment had a renovated kitchen and bathroom and the location was good for us as we do not have a car and could easily walk to the essential places. The list price was 1.5 and I offered 1.2 which was promptly rejected by the (Portuguese) owners. It was still available one month later. It is now a least 3 months on the market and it’s still listed without a price decrease! Make it make sense! lol
For fun I just texted the agent to see if the owners would accept a lower offer now. I’m sure I won’t hear from her until Monday.😉
@@vommir.Another very frustrating thing about idealista is that there is no way to know what a property was eventually sold or rented for.
Who knows maybe you will get that text haha, cross fingers! Yes, I got many times too exited about a property, calling the landlord to end up getting told it's already rented.@@melg1838
I haven't paid $6.50 for beer I'm still paying around 1.25 for beer😂
Cheaper than Croatia :)
Btw, it's amazing how fast you can produce a good video. This looks like it was shot today.
Really? Surprised to hear that! And yes, it was shot and edited today :) cheers
@@joenandamalie Groceries and especially restaurants are more expensive in Croatia. Electricity is about the same, I think. Rents are cheaper, but they come with weird strings. On the coast (where we live now), it's very difficult to get a long term contract, because the owners prefer to rent out to tourists from June to September. So if you rent something in late September, they will kick you out in May. This also means that unfurnished apartments are very rare.
Very good video! 👍
Thanks brother!
I'm amazed how expensive most of products are in Portugal. I live in Poland where we have pretty much the same salaries (or even slightly better), but most of stuff is way cheaper, mobile and internet plans are 3 times cheaper, rent in big cities around 2 times cheaper... There are exemptions like coffee or taxis, but it doesn't change the overall picture. Portugal may be a paradise but not for normal people.
I love seeing what foreigners think is cheap and expensive, very illuminating
Hehe, glad you enjoyed the video!
Great video! But 65€ for gym? Sorry guys but that’s not normal for Portugal, it’s super easy to find it for 30/35/40€ or even cheaper if you go to Fitness Hut, Go Gym, etc… you’re getting ripped 😅
Loved your perspective on living in Portugal. We visited Portugal in 2021 primarily to determine if we could live in Lisbon or anywhere in Portugal. We spent 6 weeks traveling to all the cities/towns you had either visited or mentioned. Although the country is beautiful, the food fantastic and the people are gems, we realize to have the same standard of living (notice I didn't say quality) we live in our city (Atlanta), we were going to pay 25% to 30% more a month. Maybe for some foreigners, it's less expensive to live in Portugal but for others, it may not make financial sense. Like I always tell my friends if you want to live outside the US, it's b/c you want to experience a different lifestyle, career goals, or have a home base to travel Europe, but you are not going to replicate what you have or standard of living in the US for 50% less. I love your 'new' series!!! You have started 2024 with a bang.
I'm far more interested in living the way the locals do. Thanks for for sharing your experiences tho
Of course! But it’s still not cheap to find housing.
Epic video guys!
Thanks brother
Great video!
Thanks!
Thank you.💖
You are so welcome
Wow, I live in Silicon Valley and I was baffled about how expensive some of those places are.
Allianz actually provides travel insurance - website is in Portuguese though
Yeah, Allianz seems to be the travel insurance behind most including revolut and n26. We dealt with them once and it was a nightmare with zero compensation!
Oh, that’s good to know! I used them a lot but never had to claim something. You are recommending the others?
BTW great video as always ❤
Thanks!@@Manu-dj5tv
i lived & worked in Lisbon in 2001 .. At lunchtime in Portuguesse Cafes in the Alcantara district you could sitdown and have a Portuguesse Bitoque (Beef or Turkey) for 300 Escudos .. Although Portugal had adopted the Euro . Everyone was still using Escudos , 300 Escudoes was approx €1.50 !!!!
ahhh I remember those times. Dont forget minimum wage here was 400 EUR though. Even so, we managed to have a much better quality of life than we do now
Informative video! At the end of the day, inflation is a global phenomenon happening in many countries, and despite govt claims that CPI are coming down, to many who live their day to day life, it doesn't feel that way. We are entering disinflation globally, and prices will likely stay high while economies slow down. And inflation is probably a reflection of our ongoing devalued fiat currencies when many central banks around the world are printing money non stop with record debt. Time to ask ourselves how to sustain life and invest in what's real.
Lots of great info in this video. Q: Do you think the end of the NHR tax regime will affect housing prices? I've read that it's unlikely to change prices much because it's a supply/demand question mostly driven by the Portuguese, not foreign remote workers.
Thanks! I don't think so no. That has mostly to do with the fact that the real estate market is now much more expensive than it was a few years ago, but the "real" real estate speculation was via the golden visas. Also, there is a new NHR taking over the current one, which is going to be particularly interesting for foreigners looking to move to Madeira.
Interesting thanks! Would be cool for you two to talk about the Madeira NHR at some point.@@joenandamalie
it looks like you have a super spacious modern apartment with great views/outdoor space. what neighborhood is that. and why then do you say it's not a great neighborhood? what is it missing?
I personally think the reason apartments are so expensive is because in the past everyone relied on the summer tourist coming and paying top prices for short times. The owners feel that makes them more money so for long term they make one pay more cuz they are missing that short term overpricing.... think many shot themselves in the foot with this mentality!!!
I never thought of it, this way. I think you might be on to something! Phasing out airbnb in Lisbon is likely wrecking havoc on many property owners, and so they compensate by hoping for ridiculous long term rents.
As an American tourist, beer price is the most disappointing aspect for me. Good beer at low prices are very hard to come by for where I live😢
En stor Coral fadøl koster vel stadig 3-5 euro? Billigt i forhold til københavn :D
What happened to the glass house?!
You’ll see very soon 🫶
Those rents are even higher than Hawaii 😆
Really? That's crazy!
Portugal is getting expensive try Norway... impossible😢
Lol, yes. I once visited. I remember a burger king menu was 25€
So looks like Portugal also going down the slippery slope😢 the whole reason. All the tourist and visitors were going there for the cheap pricing and now people gonna think twice if they want to go there or go some other cheap country
Well, depends who you ask. For the average Portuguese it's not easy. Generally, the cost of living has also gone up noticeably around the world, so the last three years have definitely made it a lot more expensive due to the crazy inflation. But I also think higher prices are a natural consequence of a country becoming so popular in such short time.
RUclipsrs and influencers contributed for speculation.
its the same story for the popular destinations all around the world. I learned quickly in Mexico in the last few years to simply stay in cities and parts of cities that are not as popular if you want to save money on rent.
Inflation is global but sorry to say this....
RUclipsrs have contributed to this significantly in Portugal.
@@skaazyI disagree. The responsibility should go to the people in power who made an effort to attract foreigners with tax benefits and the many visas in place. When hoards of people flock to Walmart on Black Friday to buy the same flatscreen TV because it's 65% OFF, it's Walmart who decided these people's faith.
the vairation.
That's mean!
Lets not exaggerate an imperial is still 80 cents and a caneca 2 euro (dont ask why, i dont make the prices).
That's nonsense. Maybe at a far away snack bar in the mountains of Serra da Estrela, but otherwise you won't find a caneca for two euros! :D
@@joenandamalie it is a normal price here in Fuseta, even with a view on the beach as I type this.
It’s called supply and demand, it’s a way of life
Yup!
I saw your new house in Madeira and why are you paying for an apartment if you could put this toward your house ? I don’t get it.
Our new house is not done yet. And we will experiment with vacation rental one week a month, which will cover our apartment and much more. We will see :)
And the responsibility goes to guys like you.
I disagree. The responsibility should go to the people in power who made an effort to attract foreigners with tax benefits and the many visas in place. When hoards of people flock to Walmart on Black Friday to buy the same flatscreen TV because it's 65% OFF, it's Walmart who decided these people's faith.
sounds like someone has an irrational anger that their life is shit and wants to blame others.
Portugal is still the least expensive country in Western Europe by far!!!
That certainly depends how you look at it.
"By far" seems to be a bold statement. It's not normal that you can find the same apartment prices in other countries that offer double the salary.
@@joenandamalie You will gona have a lot defensive portuguese in the coment section 🤣🤣 I never got it ... The country is mess but there's always someoone ready to deny ....
If that's the case no one is stopping you from moving there. The issue is people are looking to live in cities like Lisbon or Porto on the cheap. There are plenty of places in Portugal where you can live for much less. Also, there's such a thing as supply and demand. It's the main determinant of western capitalism. Obviously, if prices are high and they're selling people are buying them. @@vommir.
You guys are so not self aware LOL!
You are the problem 🤣
It's gonna be rough when the property bubble bursts in a couple years. Already starting in some European countries like Germany.
Seeing properties in Portugal that have obviously been used for AL short-term rentals starting to pop-up for sale more and more. Maybe that speculation is starting to cool...?
Also, if I wanted to renovate a historic property, I would probably look at France. Amazing properties in quaint towns/villages for much cheaper than some ruin in Portugal. Then again, you would have to live in France, but the prices are much more reasonable.
Hope for the locals sake, the bubble bursts soon. It is completely out-of-sync with local salaries.
Are they still offering the Golden Visa, if you buy real estate? That-and the greed from Americans-will ruin things.
Your carbon footprint is huge guys 😢 as a proposal for 2024 resulutions, how about you become more conscious about it and share your improvements in this community? When you commit, you're able to do awesome things ❤ like what you did with the poor people of Madeira. How about embracing a new challenge, linked to the environment? Would be awesome 😎👍 Beijinhos
I know you mean well when you pay de cleaning person 10 € instead of the 8€ she charges. Unfortunately that is the way things become unaffordable for the locals. Why charge 8 to a Portuguese when I can charge 10 to a foreigner. Remember that Portuguese people do not have the incomes that you have. At the end of the day, locals are always in the wrong side of gentrification.
She works most of her shifts at hotels and if you knew how poorly she is compensated, you would freak out. She gets less than 5€ an hour. It's insane. She has been with us for 3 years and she is like family, so of course we take care of her! :)
people give me this argument in Mexico too about tipping. this notion that me tipping my taxi driver an extra 20 pesos is going to drive up prices on everything else is pure nonsense. there is no shortage of food or goods here. in fact there are too many goods and a lot of food ends up in the trash because it cant sell before it spoils. if that taxi driver can buy an extra piece of meat for his family that is only a positive for himself and the business where he spends it. the notion that we need to keep the locals poor to benefit everyone is evil. as they stated numerous times in this video - the prices of everything is going up but wages are not. so they decided to correct the problem to the extent it was in their control to do so. this argument of gentrification as some sort of crime is laughable to me. yet our home countries are expected to take in countless millions of migrants who have no finances or prospects when they come to our countries as if it is harmless and virtuous to do so. get off the neo-liberal drugs.
The problem of Portugal is right here, in the mentality behind this comment. Everyone else should be poor, because I am poor. Everything should be leveled below, not higher.
@@Bahsushwbsv62622gsc that's what a communist mindset does to a people. It's the same in France.
Cut off the money supply from outside the country or have to rely on local wages, I bet very few foreigners would stay or move to Portugal in 2024. The glory days are well and truly over!
It is far safer investment and quality of life to remain in your higher paying home country if that is where you are from. Near your own family. Peace
That would destroy the entire country financially, so not an optimal solution. The real solution is hard to identify though. The entire system needs to be reset basically.
your claim that it is safer for investment and higher quality of life in your home country is purely a subjective opinion. as someone who lives similarly to these people in a foreign country I whole heartedly disagree with you. leaving Canada was the best decision of my life.
@@joenandamalie please dont ask for the great reset!
lol, it's coming whether you like it or not.. sincerely, Klaus@@paulboston992
Please don't take it as a literal option. This visualisation was more so demonstrating just how unsustainable it is to have extreme wealth pouring into a very low earning country over a very short amount of time. It is VERY short term thinking.
This is exactly what is destroying an entire country and its people financially. Portugal is wrecked. @stayclassyvlog