The city of Beja was, in the first quarter of 2024, the district capital where the price of houses fell the most, with Évora being one of the district capitals where the price increased the most, as revealed by the idealista platform.
House prices in Portugal rose 1.9% in the first quarter of the year compared to the previous quarter. According to the idealista price index, 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. It is a scenario visible across almost the entire Portuguese territory, as houses became more expensive in 13 district capitals, between January and March, with Vila Real leading the rises (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%.
Analyzing the numbers by district capital, in the first quarter, house prices rose in 13 district capitals, with 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 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. Next are 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), 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).
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% ), island of Porto Santo (0.9%), Santarém (0.8%), island of Santa Maria (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%). Already in Portalegre (-0.5%) and São Miguel island (-0.4%) prices remained stable.
It should be noted that 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 cheapest 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).
By region, during the first quarter of 2024, house prices only fell in Alentejo (-1.5%). On the other hand, prices rose in the Autonomous Region of Madeira (2.7%), followed by the North (2.6%), Lisbon Metropolitan Area (2.6%), Center (2.3%) and Algarve ( 2.1%). In the Autonomous Region of the Azores (0.3%) prices remained less stable during this period.
The Lisbon Metropolitan Area, with 3,632 euros/m2, continues to be the most expensive region to purchase housing, followed by the Algarve (3,321 euros/m2), Autonomous Region of Madeira (2,954 euros/m2) and North (2,159 euros/m2 ). On the opposite side of the table are the Center (1,431 euros/m2), the Autonomous Region of the Azores (1,443 euros/m2) and Alentejo (1,502 euros/m2) which are the cheapest regions to buy a house.
