Compared to the last quarter of 2023, house prices increased by 1.9%, with the average value per m2 standing at 2,610 euros. Note also the fact that, at district level, Lisbon surpassed the barrier of four thousand euros m2 for the first time.
The price of houses in Portugal registered a growth of 6.4% in the first quarter of the year, when compared to the same period in 2023, according to data revealed by ‘idealista’ this Monday, April 1st. Compared to the previous quarter, this is an increase of 1.9%, with the average value per m2 standing at 2,610 euros.
In the first quarter of 2024, there was an increase in housing prices in 13 district capitals, with emphasis on Vila Real, with an increase of 8.7%, followed by 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 the opposite direction, there was a decrease in prices in Beja (-5.1%), Ponta Delgada (-4.6%), Guarda (-4.2%) and Portalegre (-1.8%).
Unsurprisingly, Lisbon continues to be the capital of the district where buying is most expensive, with a value of 5,569 euros/m2, followed by Porto (3,546 euros/m2) and Funchal (3,260 euros/m2), 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), Vila Real (1,257 euros/m2), Santarém (1,199 euros/m2), Bragança (931 euros/m2 ), Beja (908 euros/m2), Castelo Branco (896 euros/m2) and Portalegre (800 euros/m2).
With regard to districts/islands, the biggest quarterly increases were observed 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, declines were recorded on the island of São Jorge (-4.1%), Castelo Branco (-4%), Évora (-3.6%), Viana do Castelo (-1.4%), Portalegre ( -0.5%) and São Miguel island (-0.4%).
Also here, Lisbon leads as the most expensive district to buy a house, highlighting the fact that for the first time it broke the barrier of four thousand euros m2 (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), Santarém (1,135 euros/ m2), Beja (1,071 euros/m2), Vila Real (972 euros/m2), Bragança (877 euros/m2), Castelo Branco (832 euros/m2), Portalegre (717 euros/m2) and Guarda (708 euros/m2) m2).
At a regional level, prices increased in the Autonomous Region of Madeira (2.7%), followed by the North (2.6%), Lisbon Metropolitan Area (2.6%), Center (2.3%), Algarve ( 2.1%) and the Autonomous Region of the Azores (0.3%), with Alentejo observing a decline of 1.5% in the first quarter of 2024.
The Lisbon Metropolitan Area (3,632 euros/m2) continues to be the most expensive region to buy a house, followed by the Algarve (3,321 euros/m2), Autonomous Region of Madeira (2,954 euros/m2), North (2,159 euros/m2) , Center (1,431 euros/m2), Autonomous Region of the Azores (1,443 euros/m2) and Alentejo (1,502 euros/m2).
