- Buying a house in the region now costs 3,200 euros per m2 – the second most expensive region in the country
- Monchique (-2.6%), Vila Real de Santo António (-1.3%) and Olhão (-1.2%) recorded the biggest price drop in the region
- Buying a house in Faro costs 2,918 euros/m2
- Loulé (3,888 euros/m2) is the most expensive municipality in the region to buy a house
The price of houses in the Algarve (0.3%) remained stable in October compared to the previous month. According to the idealista price index, buying a house cost 3,200 euros per square meter (euros/m2) at the end of October this year, taking into account the median value. In relation to the quarterly variation, the increase was 0.3% and the annual increase was 8.2%.
Analyzing by municipalities, prices in the region rose in Vila do Bispo (0.9%), Loulé (0.8%) and Albufeira (0.6%). Prices remained stable in Portimão (0.3%), Lagos (0.1%), Tavira (0.1%), Alcoutim (0%), Aljezur (-0.2%), Silves (-0 .4%) and São Brás de Alportel (-0.4%).
Conversely, prices fell in Monchique (-2.6%), Vila Real de Santo António (-1.3%), Olhão (-1.2%), Lagoa (-0.9%) and Faro ( -0.7%).
The most expensive municipality to buy a house is Loulé (3,888 euros/mtwo), followed by Lagos (3,679 euros/m2) and Vila do Bispo (3,628 euros/mtwo). Next are Aljezur (3,553 euros/m2), Lagoa (3,413 euros/m2), Albufeira (3,311 euros/m2), Tavira (2,977 euros/m2), Faro (2,918 euros/m2), Silves (2,767 euros/m2) and Vila Real de Santo António (2,743 euros/m2).
On the other hand, the most economical ones are in Alcoutim (750 euros/m2), Monchique (2,225 euros/m2), São Brás de Alportel (2,369 euros/m2), Portimão (2,515 euros/m2) and Olhão (2,682 euros/m2) .
At a national level, housing prices remained stable during the same period, standing at 2,500 euros/mtwo.
District capital cities
House prices in October rose in 9 district capitals, with Guarda (4.3%), Castelo Branco (3.9%), Portalegre (3.4%) and Santarém (1.8%) leading the list. Next are Bragança (1.7%), Leiria (1.4%), Funchal (1.1%), Lisbon (1%) and Viseu (1%). In Beja (0.4%), Aveiro (0.3%) and Braga (0.1%), prices remained stable during this period.
On the other hand, prices fell in Vila Real (-3.5%), Setúbal (-1.2%), Évora (-1.1%), Ponta Delgada (-1.1%), Viana do Castelo ( -0.9%), Faro (-0.7%), Porto (-0.5%) and Coimbra (-0.5%).
Lisbon continues to be the city where it is most expensive to buy a house: 5,401 euros/m2. Porto (3,392 euros/m2) and Funchal (3,105 euros/m2) occupy second and third place, respectively. This is followed by Faro (2,918 euros/m2), Aveiro (2,411 euros/m2), Setúbal (2,265 euros/m2), Évora (2,003 euros/m2), Coimbra (1,827 euros/m2), Viana do Castelo (1,805 euros/m2), m2), Braga (1,748 euros/m2), Ponta Delgada (1,747 euros/m2), Viseu (1,388 euros/m2) and Leiria (1,353 euros/m2). The most economical cities are Portalegre (747 euros/m2), Guarda (830 euros/m2), Castelo Branco (844 euros/m2), Beja (941 euros/m2), Bragança (952 euros/m2), Santarém (1,172 euros/m2) and Vila Real (1,183 euros/m2).
Districts/islands
Analyzing by districts and islands, the biggest price increases took place on the island of São Jorge (6.3%), Guarda (3.7%) and the island of Pico (3.5%). Followed by the island of Madeira (2.2%), Aveiro (1.2%), Castelo Branco (1.1%), Bragança (0.9%), São Miguel island (0.9%), Faial island (0.7%), Santarém (0.6%), Lisbon (0.5%) and Vila Real (0.5%). Housing prices remained stable during this period in Setúbal (0.4%), Faro (0.3%), in Porto (0.2%), on the island of Porto Santo (0.2%), Leiria ( 0%) and Braga (-0.2%).
On the other hand, prices fell in Évora (-6.6%), Portalegre (-3.3%), Viana do Castelo (-0.9%), Viseu (-0.9%), Beja (-0 .8%), Coimbra (-0.6%) and Terceira Island (-0.5%).
It should be noted that the ranking of the most expensive districts to buy a house is led by Lisbon (3,841 euros/m2), followed by Faro (3,200 euros/m2), Madeira Island (2,782 euros/m2), Setúbal (2,463 euros/m2) , Porto (2,450 euros/m2), island of Porto Santo (2,043 euros/m2), Aveiro (1,644 euros/m2), island of São Miguel (1,579 euros/m2), Leiria (1,525 euros/m2), Braga (1,511 euros/m2), Viana do Castelo (1,406 euros/m2), Pico island (1,360 euros/m2), Coimbra (1,358 euros/m2), Faial island (1,276 euros/m2), Évora (1,251 euros/m2) , São Jorge island (1,125 euros/m2), Terceira island (1,124 euros/m2) and Santarém (1,094 euros/m2).
The cheapest prices are in Portalegre (667 euros/m2), Guarda (691 euros/m2), Castelo Branco (771 euros/m2), Bragança (874 euros/m2), Vila Real (962 euros/m2), Viseu (1,033 euros/m2) and Beja (1,047 euros/m2).
Regions
During the month of October, prices of houses for sale rose in four regions of the country and remained stable in two: Algarve (0.3%) and Centro (0.4%). Leading the rises is the Autonomous Region of Madeira (2.2%), followed by the Autonomous Region of the Azores (1%), Lisbon Metropolitan Area (0.6%) and the North (0.5%) . The only region where housing prices fell between September and October was Alentejo (-3.1%).
The Lisbon Metropolitan Area, with 3,503 euros/m2, continues to be the most expensive region to purchase housing, followed by the Algarve (3,200 euros/m2), Autonomous Region of Madeira (2,770 euros/m2) and North (2,054 euros/m2 ). On the opposite side of the table are the Center (1,367 euros/m2), the Autonomous Region of the Azores (1,390 euros/m2) and Alentejo (1,497 euros/m2) which are the cheapest regions to buy a house.
idealista property price index
To create the idealista property price index, the offer prices (based on built square meters) published by idealista advertisers are analyzed. Atypical advertisements and those with out-of-market prices are eliminated from the statistics.
We also include the “single-family houses” typology and discard all ads that are in our database and that have not been interacted with by users for some time. The final result is obtained through the median of all valid advertisements in each market.
The full report can be found at:
https://www.idealista.pt/media/relatorios-preco-habitacao/venda/
Idealistic
