The boom in the real estate market in Portugal continues, with house prices continuing to rise across the country.
According to the latest idealista price index, the prices of houses to buy in Portugal have increased by 8.4% in one year, taking into account data from September 2021 and the same month last year. The data shows that at the end of September 2021, buying a house had a cost of 2,266 euros per square meter (m2), taking into account the median value.
Highs and lows
Over the past year, real estate prices have increased in all regions, with the Autonomous Region of Madeira topping the list with an increase of 17.4%. Next come the metropolitan area of Lisbon (10.1%), Algarve (7.9%), Center (7.8%), North (7.1%), Alentejo (5.8%) ) and the Autonomous Region of the Azores. (4.7 percent).
Overall, Lisbon continues to be the most expensive place to buy property in Portugal with an average property of 3,252m², while the Algarve also continues to be a popular choice, pushing prices up to to 2,527 m². The second most expensive area is the North (1,914 m²) followed by the Autonomous Region of Madeira (1,872 m² €). At the other end of the scale are the Autonomous Region of the Azores (€ 1,044 m2), Alentejo (€ 1,088 m2) and Center (€ 1,168 m2), all of which are the cheapest regions in the world. Portugal.
Price increases and decreases
Among the neighborhoods analyzed by idealista, the greatest increases were observed in Vila Real (19.9%), Ilha da Madeira (17.4%), Évora (14.7%), Setúbal (12.5%), Aveiro (12.4%), Lisbon (10.2%)), Leiria (9.5%), Porto (8.4%), Faro (7.9%) and Santarém (6.6%).
However, parts of Portugal have seen their prices drop over the past year. Housing prices fell in Portalegre (-5.9%), Bragança (-1.7%), Guarda (-1.2%) and Ilha do Pico (-1.1%).