In the last quarter of last year, prices per square meter of housing stood at 1,619 euros, corresponding to a year-on-year rate of change of 7.9%, data from the National Statistics Institute (INE). Despite the increase seen, the price growth rate slowedwhereas in the previous quarter there had been an increase of 10%.
O median house price increasedin relation to the same period of 2022, in 23 of the 26 NUTS III subregions, highlighting the West with the highest growth (16.7%). The six sub-regions with the highest median house prices – Greater Lisbon, Algarve, Porto Metropolitan Area, Autonomous Region of Madeira, Alentejo Litoral and Península de Setúbal – also presented the highest values in both categories of buyer’s tax residence , according to INE.
In total in 2023, the median price of family accommodation in Portugal was 1,611 euros/m²with the sub-regions Greater Lisbon (2,740 euros/m²), Algarve (2,613 euros/m²), Península de Setúbal (1,901 euros/m²), Autonomous Region of Madeira (1,889 euros/m²) and Porto Metropolitan Area ( 1,800 euros/m²) registered values higher than the national figure.
In the Greater Lisbon and Porto Metropolitan Area sub-regions, the median price of transactions carried out by buyers with tax domicile abroad surpassedrespectively at 65.0% and 69.8%, the price of transactions by buyers with tax domicile in the national territory.
