The price of houses in Braga increased by 1.8% in the first quarter of 2024, with the square meter costing an average of 1,794 euros, according to the Idealista portal index revealed today.
According to Idealista, house prices in Portugal rose 1.9% in the first quarter of the year compared to the previous quarter. Buying a house cost 2,610 euros per square meter (euros/m2) at the end of March this year, taking into account the median value.
Houses became more expensive in 13 district capitals, between January and March, with Vila Real leading the increases (8.7%). House prices rose in Lisbon (2.4%) and Porto (2.7%) in this period. In relation to the annual variation, house prices in Portugal rose 6.4%.
District capitals
In the first quarter, house prices rose in 13 district capitals: Vila Real (8.7%), Castelo Branco (3.8%), Évora (3.8%), Viseu (3.6%), Leiria (2.9%), Porto (2.7%), Lisbon (2.4%), Coimbra (2.3%), Funchal (2.2%), Setúbal (1.8%), Braga (1 .8%), Santarém (1.2%) and Faro (1%). In Bragança (0%), Aveiro (0%) and Viana do Castelo (-0.2%) prices remained stable during this period.
On the other hand, prices fell in Beja (-5.1%), Ponta Delgada (-4.6%), Guarda (-4.2%) and Portalegre (-1.8%).
Lisbon continues to be the city where it is most expensive to buy a house: 5,569 euros per square meter (euros/m2). Porto (3,546 euros/m2) and Funchal (3,260 euros/m2) occupy second and third place, respectively. This is followed by Faro (2,926 euros/m2), Aveiro (2,496 euros/m2), Setúbal (2,300 euros/m2), Évora (2,088 euros/m2), Viana do Castelo (1,885 euros/m2), Coimbra (1,867 euros/m2), m2), Braga (1,794 euros/m2), Ponta Delgada (1,788 euros/m2), Leiria (1,455 euros/m2), Viseu (1,453 euros/m2) and Vila Real (1,257 euros/m2).
The most economical cities are Guarda (773 euros/m2), Portalegre (800 euros/m2), Castelo Branco (896 euros/m2), Beja (908 euros/m2), Bragança (931 euros/m2) and Santarém (1,199 euros/m2).
By districts
Analyzing by districts and islands, the biggest price increases took place in Vila Real (3.3%), Leiria (3%), Lisbon (2.9%), Madeira Island (2.7%), Porto (2 .6%), Viseu (2.5%), Faro (2.1%), Terceira island (1.8%), Beja (1.6%), Coimbra (1.3%), Braga (1. 3%), Aveiro (1.2%), Setúbal (1.1%), Pico island (0.9%), Faial island (0.9%), Porto Santo island (0.9%) , Santarém (0.8%), Santa Maria island (0.6%), Bragança (0.6%) and Guarda (0.6%).
On the other hand, prices fell on the island of São Jorge (-4.1%), Castelo Branco (-4%), Évora (-3.6%) and Viana do Castelo (-1.4%). In Portalegre (-0.5%) and São Miguel Island (-0.4%), prices remained stable.
The ranking of the most expensive districts to buy a house is led by Lisbon (4,008 euros/m2), followed by Faro (3,321 euros/m2), Madeira Island (2,965 euros/m2), Porto (2,581 euros/m2), Setúbal ( 2,472 euros/m2), Porto Santo island (2,273 euros/m2), Aveiro (1,687 euros/m2), São Miguel island (1,629 euros/m2), Leiria (1,604 euros/m2), Braga (1,520 euros/m2 ), Viana do Castelo (1,437 euros/m2), Santa Maria island (1,413 euros/m2), Coimbra (1,410 euros/m2), Pico island (1,374 euros/m2), Faial island (1,314 euros/m2) , Évora (1,273 euros/m2), São Jorge island (1,218 euros/m2), Terceira island (1,173 euros/m2) and Santarém (1,135 euros/m2).
The most economical prices are in Guarda (708 euros/m2), Portalegre (717 euros/m2), Castelo Branco (832 euros/m2), Bragança (877 euros/m2), Vila Real (972 euros/m2) and Beja (1,071 euros/m2).
Methodology
To create the Idealista property price index, the offer prices (based on built square meters) published by advertisers are analyzed. Atypical advertisements and those with out-of-market prices are eliminated from the statistics.
The typology “single-family houses” is also included and all advertisements that are in the database and that have not been interacted with by users for some time are discarded. The final result is obtained through the median of all valid advertisements in each market.
