In a statement, the National Institute of Statistics (INE) states that the median price of housing increased, compared to the same period last year, in all 25 NUTS III sub-regions, with the exception of the Viseu Dão Lafões sub-region.

Algarve and Lisbon

The Algarve and the metropolitan areas of Lisbon and Porto recorded, simultaneously, median housing values (2,378 €/m2, 2,156 €/m2, and 1,660 €/m2, respectively) and year-on-year rates of change (+13.8%, +16 .1% and +20.4%) higher than in the country (1,492 €/m2 and +13.5%).

In addition to these regions, the Autonomous Region of the Azores (+24.1%), the Alentejo Litoral (+22.3%), the Lezíria do Tejo (+19.5%), the Alto Tâmega (+16.8 %), the Region of Aveiro (+16.3%) and Alentejo Central (+14.9%) registered year-on-year rates of change higher than those of the country, although they presented median prices lower than the national reference.

The Viseu Dão Lafões sub-region (-4.8%) was the only one to record a year-on-year decrease in house prices in the third quarter of 2022, with Alto Alentejo having the lowest median price, as in previous quarters sale of family accommodation (492 €/m2).

The three sub-regions with the highest median house prices – Algarve, Área Metropolitana de Lisboa, and Área Metropolitana do Porto – also showed the highest values in both categories of buyer's tax domicile: national territory (2,232 €/m2, 2,128 €/m2, and €1,650/m2, respectively) and foreign (€2,854/m2, €3,511/m2 and €2,292/m2).

Foreign buyers

In Área Metropolitana de Lisboa there was the greatest difference between the median price of transactions carried out by buyers with tax domicile abroad and in Portugal: 1,383 €/m2, +65.0%.

From July to September, the median price of family dwellings in Portugal purchased by families was €1,516/m2 (+0.5% than in the previous quarter) and by buyers belonging to the other institutional sectors of €1,333/m2 (-1. 7% than in the second quarter of 2022).

According to INE, in the third quarter of 2022, “all municipalities with more than 100 thousand inhabitants in the metropolitan areas of Lisbon and Porto, with the exception of Santa Maria da Feira, registered median housing prices higher than the national value (1,492 €/m2), notably Lisbon (3,882 €/m2), Cascais (3,453 €/m2) and Oeiras (3,072 €/m2) with values above 3,000 €/m2.

On the contrary, Vila Franca de Xira (+13.2%), Porto (+12.0%), Amadora (+11.6%), Loures (+11.4%), Cascais (+10.9%), Odivelas (+9.0%) and Lisbon (+8.3%) recorded year-on-year rates of change lower than the national rate, with the municipality of Guimarães registering the lowest rate among the 24 municipalities with more than 100 thousand inhabitants (+2 .6%).