Buying or renting a home for one is a daunting yet exciting prospect. Having the freedom of your own space is the stuff of dreams. But what about the costs attached to hopping on the property ladder alone? Nightmare inducing!

Solo first-time renters or buyers face various obstacles without a partner to help foot the bill - but it's not all doom and gloom, some places that are more affordable than others, and some that simply can't be done alone.

You aren’t alone! With more and more folks waiting longer to settle down, first-time buyers and renters are becoming increasingly common. That’s why our team has looked into the numbers to discover where you may be best off buying or renting on your own in Portugal, and where you should avoid.

 

Best Place to Solo-Rent in Portugal

Located in the east of Portugal’s Porto Metropolitan Area, this stunning area is a quaint and increasingly popular town. If you like the quieter lifestyle - think rivers, beaches, impressive landscapes and plenty of greenery - then Gondomar could be ideal. Not only this, but the rent is not too shabby either. Taking the average monthly wage and the average rent, you could be left with just over 50% of our earnings after paying your utility bills. That’s plenty of ‘pocket money’ to live a comfortable lifestyle.

With only a short 20-minute journey to the district capital of Porto, you will have the best of both worlds - the cosmo vibe of the city and the relaxing scenery from your very own back garden.

The Worst Places to Solo-Rent in Portugal

Situated on the Lisbon coastline, the charming Portuguese town of Cascais is for sophisticated cosmopolitan living full of glamour and grandeur. It is bursting with luxurious antique mansions and stunning architecture. However, the cost of living reflects luxury. The average monthly wage won't even pay the standard rent in this area, so isn't achievable as a solo renter.

 

Best Place to Solo-Buy in Portugal

The municipality of Gondomar makes first place again. With the average house price starting around €119,155 and the monthly income slightly higher, you will be able to easily afford your mortgage payments, pay your utility bills and be left with over 60% of your hard-earned cash. You’ll have that mortgage paid off in no time and be able to enjoy a carefree life in this impressive and picturesque location.

 

The Worst Places to Solo-Rent in Portugal

Lisbon's cost of living has taken a steep rise over the last couple of years, particularly when it comes to housing costs. That's because more and more people are wanting to reside here - and you can see why. It's a creative and buzzing city with tons of festivals and cultural events. It has a unique and contagious personality, but its popularity has meant you won't be able to afford to buy a place here easily. The cost of owning a house here is high - one person's income won't cut it for mortgage payments. In fact, even after you have paid your mortgage and your bills for the month, you would be in the red by - €1,708.

Methodology

 

Taking 24 of Portugal's municipalities, we have ranked them in order of living expenses by percentage. This is using the following data and sources:

 

Average Monthly Income

Instituto Nacional De Estatistica | Statistics Portugal

https://ine.pt/xportal/xmain?xpid=INE&xpgid=ine_publicacoes&PUBLICACOESpub_boui=384208622&PUBLICACOESmodo=2

 

Average Rent

Using Imovirtual own data of average rents in each area taken over a year between 31/07/2018 - 31/07/2019

 

Average Property Price

Using Imovirtual own data of average property prices in each area taken over a year between 31/07/2018 - 31/07/2019

 

Average Mortgage Payment

Using the average property price sourced from Imovirtual data and a 10% deposit, a mortgage calculator was used to find the average mortgage payment.

http://www.spanishpropertyapp.com/euro-mortgage-calculator/

 

Basic Utilities

https://www.numbeo.com/cost-of-living/

Please note that for certain cities, due to a lack of data, the nearest municipalities were used. Gondomar and Santa Maria da Feira - used Porto. Loures - used Maia. Sintra - used Cascais.

 

Total Living Expenses

Taking the average monthly income, and subtracting the outgoings of utility bills and rent/mortgage payments.

 

Disposable Income

Substracting the total living expenses from the average monthly income.