Your all-in-one guide to cost of living in Portugal for South Africans

Portugal is an increasingly popular country for people all over the world to move to. It’s a beautiful country with a vast landscape, great food, and friendly people. But, what does it cost to live your life there?

In this guide, we’re going to take a look at the cost of living in Portugal, whether you’re choosing to move there forever, temporarily, or you’re simply going for a trip.

We’ll cover an overview of the costs of living in Portugal, including how the prices in Portugal compare to South Africa.

Plus, if you want to send money from Portugal to South Africa, make sure you keep in mind Wise, a bank alternative to reduce international transfer costs¹ for international money transfers.

Learn more about Wise

How expensive is Portugal in comparison to South Africa?

Portugal has a higher cost of living in comparison to South Africa. In South Africa, the cost of groceries is 31.4% lower than in Portugal, rental prices are 46.4% lower, and general consumer prices (not including rent) are 25.2% lower⁵.

The currency in Portugal

The currency of Portugal, like a large majority of countries in Europe, is the Euro.

When you’re making transfers or converting your money into Euros, you can make sure you’re getting the best exchange rate by using a converter that uses the mid-market exchange rate.

You can find out the exact worth of your money (or more specifically, ZAR) by using our online currency converter.

Get the mid-market rate for international money transfers from Portugal to South Africa with Wise

South Africans living in Portugal can save money¹ by using Wise, a bank alternative, to make international payments to South Africa.

When sending money to South Africa from Portugal with Wise, you can reduce international transfer costs¹.

The mid-market exchange rate is the rate that banks use to transfer money between them.

While some banks support international payments, they usually add a markup on top of the mid-market exchange rate for this transaction that customers end up paying.

Wise uses the mid-market exchange rate along with a small fee mentioned upfront for all transfers. This means you’ll likely be getting better rates for international money transfers, and you’ll know upfront how much each transaction will cost you¹.

Using Wise in Portugal, you can send money to South Africa and hold and receive money in 40+ currencies³.

Join Wise!

Cost of living in Portugal vs. South Africa

The cost of living varies across Portugal, however, Lisbon is the 109th most expensive city in the world, according to Mercer’s cost of living statistics. In comparison to South Africa, Cape Town ranks in the 194th space⁶.

Rental costs in Portugal

Let’s take a look at the rental costs in two of the biggest cities in Portugal: Lisbon and Porto.

Cost of groceries in Portugal

Transport costs in Portugal

Let’s take a look at the transport costs in the same two major cities in Portugal that we’ve been looking at so far - Lisbon and Porto.

These cities are great cities to utilise public transport - especially Lisbon, with reliable tram and bus networks. Plus, public transport is reasonably priced.

The country as a whole has good rail and bus networks and airports. However, trains can take a while to get to their destinations and may often be delayed.

Study costs in Portugal

Studying in Portugal is a popular option for those wanting to be international students.

The top universities in Portugal are ISEG - Lisbon School of Economics and Management, The School of Economics and Management - University of Porto, and The University of Coimbra. They are all highly ranked, with ISEG being ranked 201 in the Academic Ranking of World Universities by Shanghai Jiao Tong University⁹.

According to the QS World University Rankings, the University of Porto ranks 253rd in the world and the University of Coimbra ranks 351st¹⁴.

Tuition fees for international students for ISEG are relatively cheap in comparison to other top universities across Europe, with a yearly fee of €4,500¹⁰.

What is the average salary in Portugal?

The average salary in Portugal is €33,200 in 2023¹¹. This is a fairly low average salary for a country that has cities with relatively high costs of living.

Let’s take a look at a selection of jobs and their average salaries in Lisbon and Porto.

What about healthcare costs in Portugal?

There’s a mix of both good private and public healthcare services in Portugal. Public healthcare is subsidised by the government. However, residents and citizens still pay fees for using healthcare services.

It can cost anywhere from a few euros to hundreds of euros to receive healthcare, depending on whether you’re seeing a GP or a specialist, or you’re using a private healthcare system or the low-cost system.

Portugal is a wonderful country, but with cities having a relatively high cost of living, it’s important to have either a sufficient amount of money saved if you’re visiting temporarily, or have a well-paid job if you’re moving there long-term.

Plus, remember, with Wise, you can save money when sending money to South Africa from Portugal with Wise.¹

Join Wise!

Sources:

1. Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information.
2. Eligibility is subject to verification of customer identity. Wise may request additional documents to verify a customer's identity.
3. Please note that certain products or features may not be available in all regions.
4. Please visit www.wise.com to check for availability and learn more about our offerings.
5. Cost of living comparison between Portugal and South Africa - Numbeo
6. Cost of Living City Ranking - Mercer
7. Cost of living in Lisbon
8. Cost of living in Porto
9. Masters Portal - Top University Rankings
10. ISEG Tuition Fees 2022 - 2023
11. Salary Explorer - Portugal
12. Teleport - Lisbon
13. Teleport - Porto
14. QS World Rankings - Universities

*Sources last checked as of Thursday 23rd November, 2023.