Cost of Living for Expats in Lisbon
Many digital nomads and retirees are choosing to relocate to Portugal because of its low cost of living. Housing, food, and entertainment are very affordable. One can have a high standard of living for a fraction of the cost of living back home.
As of May 2021, the exchange rates are:
The costs of living in Lisbon and Porto are higher than in other cities in Portugal.
Property prices and rents in both Lisbon or Porto have been increasing at a steady rate over the last ten years. This is due to the high prices that foreigners are willing to pay. The high rents have pushed the locals out of the cities to the suburbs where the rents are lower. The minimum wage in Portugal in 2021 is 665 euros a month. Many Lisbon rents are much higher than this.
Food costs in supermarkets are much lower when compared to the USA and Canada. Fresh produce is well priced and high quality.
Coffee on a terrace is usually less than a euro, half the price of neighboring Spain.
Alcohol prices are also low. Portuguese wines are excellent and very affordable.
An excellent website to see current prices for all things from rents to utilities to a loaf of bread, check out Numbeo. On this website, you can compare Lisbon’s costs with your current city. This comparison will give you an idea of what to expect when you relocate.
As per Numbeo, a single person’s costs excluding rent are approximately 600 euro.
For a family of four, costs excluding rent are to be around 2000 euro.
Lisbon is 13.90% less expensive than Madrid.
Rents in Lisbon are about 4-5% cheaper than in Madrid.
More examples from Numbeo:
Rent prices in Lisbon are 72.8% cheaper than in San Francisco, USA.
Rent prices in Lisbon are 57.44% lower than in London, UK
Rent prices in Lisbon are 38.32% lower than in Toronto, Canada
When comparing Lisbon to most major cities around the world, the cost of living in Lisbon is considerably lower.
Other sites to compare everyday costs: