House prices in the Algarve increased by 2.1% in the first quarter of the year. According to the idealista price index, buying a house cost 3321 euros per square meter (euros/m2) at the end of March.
There was an increase in house prices in the municipality of São Brás de Alportel (4.3%), Tavira (4.2%), Vila Real de Santo António (3.3%), Olhão (3.2%) , Aljezur (3.1%), Vila do Bispo (2.8%), Monchique (2.3%), Lagoa (2%), Silves (1.9%), Loulé (1.4%), Lagos (1.2%), Albufeira (1%), Faro (1%) and Portimão (0.9%).
The most expensive municipality to buy a house is Loulé (4,010 euros/m2), followed by Vila do Bispo (3,830 euros/m2) and Lagos (3,803 euros/m2). Next are Aljezur (3,551 euros/m2), Lagoa (3,381 euros/m2), Albufeira (3,355 euros/m2), Tavira (3,138 euros/m2), Faro (2,926 euros/m2), and Vila Real de Santo António ( 2,849 euros/m2).
On the other hand, the most economical are Monchique (2,289 euros/m2), São Brás de Alportel (2,510 euros/m2), Portimão (2,583 euros/m2), Silves (2,809 euros/m2) and Olhão (2,820 euros/m2).
Nationally, housing prices rose 1.9% in the first quarter, standing at 2,610
euros/m2.
