In the last three months of 2023, the cost of housing stood at 1611 euros/m2. Higher values are found in Cascais, Lisbon and Oeiras (although they have fallen).
Housing prices slowed in 18 of the 24 most populous municipalities, including the eight municipalities in Greater Lisbon. The conclusion is from the National Statistics Institute (INE), which, in the analysis of the last quarter of 2023, states that the median price of family accommodation in Portugal was 1611 euros/m2.
Prices recorded in the last three months of the year correspond to a year-on-year variation rate of 7.9% (in the previous quarter it was 10%), according to INE. Also compared to the same period last year, the median house price increased in 23 of the 26 sub-regions, with the West standing out with the highest growth (16.7%).
Still within the scope of regions, INE notes that Greater Lisbon (2740 €/m2), Algarve (2613 €/m2), Península de Setúbal (1901 €/m2), Madeira (1889 €/m2) and the Metropolitan Area of Porto (1800 €/m2) registered values higher than the national figure.In the 4th quarter, the Douro sub-region recorded the largest year-on-year decrease in housing prices (15%). As in previous quarters, Alto Alentejo presented the lowest median sales price for family accommodation (520 €/m2). In turn, the municipalities of Cascais (4176 €/m2), Lisbon (4086 €/m2) and Oeiras (3096 €/m2) reached the end of last year recording the highest housing prices in Portugal.However, Oeiras was the only municipality to record a decrease in the median house price compared to the same quarter of the previous year, of 2.8%, concludes INE.
