House prices continue to rise and in the second quarter there was a record increase of 13.2%, according to data from the National Statistics Institute (INE). In that period, more than 43,000 homes were traded, of which 58% were in Porto and Lisbon. The average price of houses in Porto is currently at 182,000, 30% below the €260,000 in the capital. But both have been rising for at least a year.
According to INE data, 6,469 housing units were traded in the Porto Metropolitan Area in the second quarter, equivalent to €1.18 billion. Which makes an average price of around 182,000. This number, according to a report by ECO, has been rising since the third quarter of 2021, when the average was at €163,000.
In turn, in the Lisbon Metropolitan Area, 13,336 homes were sold between April and June, for a total of €3.48 billion. The average price is €260,000, rising since the third quarter of 2020, when 10,527 units were traded, with an average price of €211,000.