Houses in Portugal are almost 50 percent more expensive than they were five years ago, with the median price of housing reaching 1,250 euros/m2, taking into account the 12-month period ending in September 2021, the highest value since records by the National Statistics Institute (INE) began.
The most recent data from the INE proves that houses in Portugal are becoming increasingly more expensive. The median value of family accommodation in Portugal increased by 2.6 percent compared to the previous quarter and 7.8 percent compared to the same quarter of the previous year. And going back to the third quarter of 2016 - the year in which this statistical series from the INE began, the increase is much more expressive: the median house price jumped by around 46 percent.
This is the result of the average price increase of around 1.9 percent per quarter. Now, buying a house of 100 square metres (m2) in Portugal can cost €125,000, while five years ago its value would have been much lower: €85,500.
Biggest price hikes
The price increase has been seen across the country but it is in the Porto Metropolitan Area and in the northern region of the country that the most significant increases were seen in the country – 65 percent and 55 percent, respectively. Next is the Algarve (+50 percent) and the Lisbon Metropolitan Area (+49 percent).