In Portugal, purchasing a property for renovation can lead to savings of over 64,000 euros, approximately 30%, as indicated by data released by idealista.
“In Portugal, the median cost of a three-bedroom apartment in need of renovation was 216,250 euros at the end of 2024, while the price of a refurbished T3 home was 280,793 euros“, noted the real estate platform.
This implies that “choosing to buy a house for renovation rather than an already refurbished one can result in savings of more than 64,000 euros (or 30%) at the time of property purchase.”
In Lisbon, for instance, “the price of a three-bedroom house requiring work was 340,000 euros at the end of 2024, 30% less than the cost of a renovated home (442,000 euros). Here, the savings reach 100,000 euros.”
In Porto, the “price of a three-bedroom home needing renovation was 325,000 euros, 30% less compared to a renovated house’s value (422,500 euros), allowing for savings of 97,500 euros.”
In Funchal, a “T3 apartment for renovation in the Madeiran capital was priced at 605,000 euros, 181,500 euros less than a house with the same features that does not require work.”
“It is also possible to save by purchasing a house for remodeling in Ponta Delgada, Faro, and Aveiro, with savings of 29% compared to a renovated one. In Coimbra (28%), Viana do Castelo, Setúbal, and Évora (27%), the price difference is also significant,” the platform concluded.
