To buy a house in Portugal, one must "save salaries for more than 15 years"
According to analysis, buying a 2-bedroom property in Portugal requires families to save more than 15 years' worth of salaries.
Buying a home with two bedrooms in Portugal requires saving salaries for more than 15 years.
Data analysis is by Idealista, shared on Notícias ao Minuto, revealing that buying a two-bedroom house in Portugal "requires saving salaries for more than 15 years".
"The median price of a property with these characteristics is 270,789 euros, which represents 15.7 times the 17,297 euros of annual net income of families," the news article reads.
Within the district capitals and islands, Funchal is the city where it is necessary to save the most time of family income to buy a house, around 23.2 years.
Next are Faro (22.8 years), Lisbon (21.1 years), Porto (16.4 years), Aveiro (15.6 years), Ponta Delgada (14.4 years), Viana do Castelo (12.9 years), Braga (12.6 years), Leiria (12 years), Viseu (11.6 years), Setúbal (11.2 years), Coimbra (10.6 years), and Évora (10.3 years).
On the contrary, the cities where it takes less time to save income to buy a two-bedroom house are Guarda (4 years), Castelo Branco (4.5 years), Beja (5.1 years), Portalegre (5.1 years), Bragança (7.4 years), Santarém (7.9 years) and Vila Real (9 years).
Read next: Where to buy a house? Get to know several ideal areas
Need help understanding how much you need and if you already have the financial capacity to buy a house? The credit intermediaries of Poupança no Minuto can help throughout the pre-contracting process, up to the deed, at no cost! Find out by simulating the credit here: Poupança no Minuto