Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
Expense | Monthly Costs | Notes |
---|---|---|
Mortgage | 3% to 4% | It’s difficult to get a mortgage unless you deposit comparable funds in a Portuguese bank account. |
HOA Fees | €34 | This can range from €0 to €100 depending on the unit size and value as well as property amenities. |
Property Taxes | €37.5 | About €450 annually. If over 1.2 million euros, the cost is 3%. If you purchase a small unit, the value of that unit may qualify for a special program that waives property taxes for the first three years of ownership. Ask your real estate lawyer if you qualify. |
Transportation | €70 | New cars range from €14,000 and up. Extensive coverage car insurance ranges from €350 per year and up. |
Gas | €10 to €12 | Using a water heater. |
Electricity | €100 | With heating and air conditioning in each room, plus costs for appliance-use and cooking. These figures are based on a 125-square-meter, ground-floor, condo apartment built in 2007 with a B+ energy rating. Heating and air conditioning costs will be affected by your energy rating. |
Water | €50 | Including water, sewage, garbage collection, and community landscaping provided by Tavira Verde. |
Cell Phone | – | Included in internet bill. |
Internet | €85 | MEO brand bundle includes service for two cell phones, plus basic HG cable TV with music channels, Portuguese, English, French, and German programming, and high-speed, fibre-optic Wi-Fi. |
Cable TV | – | Included in internet fee. |
Household Help | €40 | For bi-monthly, four-hour visits. The standard rate is €7 per hour. |
Entertainment | €434 | Eating out twice a week at a mid-range, local restaurant: €60 to €70. Local drinks twice a week at a nearby watering hole: €20 (€8 to €10 for a bottle of wine; €3 for a beer). Movie theater trip twice a month: €36 (€6.50 each for seniors, plus snacks). |
Groceries | €160 | |
Gym Membership | €70 | Rolling membership at Hitio Gym or pilates classes twice a week. |
Medical Appointment | €30 | Cost for private GP and medical specialist visit at Taviclinica. Dental check-up/cleaning at Ecodenta is €60. National Health System charges tax only on visits (€4) and basic tests (upwards from €10). However, no dental or specialist services are available at the local health center. |
TOTAL | €1,120.50 to €1,122.50 |
Expense | Monthly Costs | Notes |
---|---|---|
Rent | €500 to €600 | One-bedroom, unfurnished apartment in the city center: €500. Two-bedroom, unfurnished apartment in city center: €600. Three-bedroom apartment in a modern urbanization (with a parking garage) in walking distance to downtown: €800 |
Transportation | €70 | |
Gas | €10 to €12 | Using a water heater. |
Electricity | €100 | With heating and air conditioning in each room, plus costs for appliance-use and cooking. These figures are based on a 125-square-meter, ground-floor, condo apartment built in 2007 with a B+ energy rating. Heating and air conditioning costs will be affected by your energy rating. |
Water | €50 | Including water, sewage, garbage collection, and community landscaping provided by Tavira Verde. |
Cell Phone | – | Included in internet bill. |
Internet | €65 | MEO brand bundle includes service for two cell phones, plus basic HG cable TV with music channels, Portuguese, English, French, and German programming, and high-speed, fibre-optic Wi-Fi. |
Cable TV | – | Included in internet fee. |
Household Help | €40 | For two-hour visits, every other week. The standard rate is €7 per hour. |
Entertainment | €434 | Eating out twice a week at a mid-range, local restaurant: €60 to €70. Local drinks twice a week at a nearby watering hole: €20 (€8 to €10 for a bottle of wine; €3 for a beer). Movie theater trip twice a month: €36 (€6.50 each for seniors, plus snacks). |
Groceries | €160 | |
Gym Membership | €70 | Rolling membership at Hitio Gym or pilates classes twice a week. |
Medical Appointment | €30 | Cost for private GP and medical specialist visit at Taviclinica. Dental check-up/cleaning at Ecodenta is €60. National Health System charges tax only on visits (€4) and basic tests (upwards from €10). However, no dental or specialist services are available at the local health center. |
TOTAL | €1,529 to €1,631 |
Expense | Monthly Costs | Notes |
---|---|---|
Rent | €350 | Cheapest part of town; basic one-bedroom rental. |
Public Transportation | €60 | |
Gas | €10 | Only using a water heater. |
Electricity | €70 | Including electric heating but not air conditioning, clothes dryer, or dishwasher use. |
Water | €30 | Including washing machine use. |
Cell Phone | – | |
Internet | €42 | Most basic internet package bundled with cable TV and cell phone. |
Cable TV | – | |
Entertainment | €175 | Including eating out for lunch twice a week (€20) and for dinner twice a week (€40). |
Groceries | €160 | All local-brand items only, shopping at markets and grocery stores. |
TOTAL | €897 |
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