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.
According to the real estate portal, it is a visible scenario in 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%.
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 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).
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.
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 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).
Regions
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.
