Porto and Braga on the mainland, then Madeira and the Azores: prices per m², what differs on the islands, flights and rental yields.
Outside Lisbon and the Algarve, Portugal offers three very different places to buy: the northern mainland around Porto and Braga, Madeira in the Atlantic, and the Azores nine islands further out. Prices are lower than in the capital, and the reasons to buy differ: a city life with a river and old streets, a mild island climate, or space and nature. This guide compares them as of October 2026.
Porto and Braga
The Porto metropolitan area had an INE annual median of about 2,305 euro per m² in 2025, below the Algarve (about 3,139) and Grande Lisboa (about 3,439) and close to the national figure of about 2,076. That is the average of a large area: central Porto and the coast at Foz are well above it, while inland municipalities are below. We did not find a verified per-m² figure for Braga or for Porto city alone, so we give none; compare recent sold prices for the exact parish. See property prices in Portugal and buying costs.
- Porto: the historic centre and Ribeira by the river, Cedofeita and Bonfim (popular with younger residents), and Foz do Douro by the sea. An international airport and a metro make it easy to live in without a car.
- Vila Nova de Gaia: across the river, port cellars and views of Porto, often cheaper.
- Matosinhos: seafront, restaurants, close to the airport and the port.
- Braga: a university city about an hour from Porto, with a lower price level and a young population.
Idealista data for Q2 2026 give a gross asking-price yield for Porto of about 4.8%, before taxes and costs; see rental yield in Portugal.
Madeira
Madeira had an INE annual median of about 2,500 euro per m² in 2025. Funchal, the capital, is the main market, with sea views on steep hillsides, a reliable year-round climate and a growing number of remote workers. Idealista Q2 2026 gives a gross asking-price yield for Funchal of about 5.2%. Other areas such as Calheta, Santa Cruz and Machico are quieter and often cheaper. Note the hills: parking, access and the age of the building matter.
The Azores
The Azores are nine islands; São Miguel, with Ponta Delgada, is the largest and the main market. Idealista Q2 2026 gives a gross asking-price yield of about 5.6% for Ponta Delgada. We could not confirm a reliable per-m² figure for the Azores, so none is given. Expect fewer listings, fewer professionals and slower transactions than on the mainland, and a market where local advice matters more. The islands suit people who accept distance and want nature and a quiet pace.
Regional taxes: what differs on the islands
The standard rules apply nationwide: a flat 7.5% IMT is reported to apply to residential purchases by non-residents from 25 May 2026, with exceptions (sources differ on the exact date, so confirm the deed date), plus 0.8% stamp duty, and notary, registry and legal fees. IMI is set by each municipality at roughly 0.3-0.45% of tax value. Madeira and the Azores are autonomous regions with their own regional tax adjustments: one summary reports higher IMT bracket thresholds than on the mainland, and the regions can set their own incentives. We could not confirm the current figures, so ask a local tax adviser to model your purchase using the official simulator on the Portal das Finanças. A NIF and, for buyers outside the EU/EEA, a fiscal representative are needed on the islands too; see tax numbers for foreign buyers.
Flights and getting there
Porto has its own international airport. Madeira is served by Funchal airport, and the Azores by Ponta Delgada and other island airports; there are flights from Lisbon and Porto, and some direct seasonal routes from European cities. We have not verified any specific route, so check current timetables from your home city before you decide. The Azores in particular can mean a connection and a longer journey, which matters for both holiday use and guest access.
Rental and seasonality
Porto has year-round city demand (students, workers, tourists), but short-term rental is limited by municipal rules and building rules; check the exact address and see short-term rental rules in Portugal. Madeira has a more even year than most beach destinations because of its mild winters, although summer and the New Year are strong. The Azores season is shorter and weather is more changeable. In all three, long-term rentals to residents are often more predictable than tourist letting. Do not assume that a gross asking-price yield is what you will keep after tax, costs and empty weeks.
For Russian-speaking buyers and expats
Porto and Madeira have Russian- and Ukrainian-speaking residents and some professionals who work in Russian; we found no reliable statistics, so we give no numbers. In the Azores expect to work mainly in Portuguese and English with a local lawyer. Practical points:
- Prepare passport, proof of address, income and source-of-funds documents. Banks apply enhanced checks to some nationalities; the lawful response is full documentation, see bank checks for Russian citizens living in the EU.
- Open a Portuguese account early; see opening a bank account abroad as a non-resident owner.
- Use an independent lawyer and a resale checklist, especially for older buildings in Porto and on hillsides.
- Residence is a separate question: golden visa today, digital nomad visa.
FAQ
Is Porto cheaper than Lisbon? Yes. The Porto metropolitan area had an INE median of about 2,305 euro per m² in 2025, against about 4,875 in Lisbon city, though prime central Porto is above the area average.
Can foreigners buy property on Madeira and in the Azores? Yes, on the same basis as on the mainland, with a NIF and normal checks. Regional tax details should be confirmed locally.
Are taxes different on the islands? The regions are autonomous and reportedly have different IMT thresholds; we could not confirm figures, so confirm with a local adviser.
What is the rental yield? Idealista Q2 2026 asking-price figures: Porto about 4.8%, Funchal about 5.2%, Ponta Delgada about 5.6% gross. They are not net returns.
How do I get to the Azores? Flights from Lisbon, Porto and some European cities exist, often seasonal. Check current timetables.
How we help
We are a trilingual platform in English, Russian and Polish. We find properties in northern Portugal, Madeira and the Azores and coordinate independent local lawyers and tax advisers. See the listings in Portugal and the calculators. This text is informational and is not legal, tax or investment advice; rules change, so verify the current position before you act.