Is Portugal cheaper than Spain or Greece?

Eurostat prices the same basket in every country each year, which makes it the cleanest comparison available. The figures below are its 2025 price level indices, updated on 9 July 2026. An index of 90 means prices 10 percent under the EU average.

Category by category

Portugal against Spain

Portugal wins clearly on two lines: housing costs sit 17 points lower and restaurants and hotels almost 12 points lower. Spain wins on groceries, energy bills, alcohol, clothing and phone and internet plans. If you cook at home and heat your flat in winter, the two countries are closer than the headline suggests. If you eat out often, Portugal pulls ahead.

Portugal against Greece

Overall the two are within a point of each other. Greece is cheaper for housing and energy; Portugal is cheaper for restaurants, groceries and above all phone and internet, where Greece sits 27 percent above the EU average.

What a national index hides

These are country averages. Lisbon is far from the Portuguese average: INE's median rent for new leases in the second quarter of 2026 was 17.79 euros per square metre in the capital, against 10.17 for the whole country. The same spread exists inside Spain and Greece, so compare the cities you are choosing between, not the countries, before you sign anything.

Our Lisbon and Porto comparison shows how wide the gap is inside Portugal, and the destination comparison tool sets Portugal beside the other countries we cover.