House prices in Portugal rise 1 percent

in News · 09-10-2020 01:00:00 · 0 Comments

House prices in Portugal rose 1 percent in the third quarter of 2020 compared to the previous quarter, now standing at €2,090 per square metre (m2).

According to data provided by Idealista, the regions that saw a price increase in quarterly terms were the Centre (4.4 percent), Autonomous Region of Madeira (2.5 percent), Algarve (2.1 percent) and the North (1.3 percent). Conversely prices fell in the Autonomous Region of the Azores (-4.5 percent), in the Metropolitan Area of Lisbon (-1.4 percent) and Alentejo (-0.2 percent). The Metropolitan Area of Lisbon, with €2,954 per m2, remains the most expensive region, followed by the Algarve (€2,343 per m2), the North (€1,787 per m2) and the Autonomous Region of Madeira (€1,595 per m2). At the other end of the scale, there are the Autonomous Region of the Azores (€997 per m2), the Alentejo (€1,029 per m2) and the Centre (€1,083 per m2) as the cheapest regions.

The ranking of the most expensive districts continues to be led by Lisbon (€3,268 per m2), followed by Faro (€2,343 per m2) and Porto (€2,087 per m2). The cheapest prices are found in Portalegre (€634 per m2), Guarda (€644 per m2), Castelo Branco (€695 per m2) and Bragança (€775 per m2).

Lisbon remains the city where it is most expensive to buy a house, €4,614 per m2. Porto (€2,895 per m2) and Faro (€1,949 per m2) occupy the second and third places, respectively.

On the recommendation of the Idealista data statistical team, the formula for finding the average price has been updated: in addition to eliminating atypical ads with prices outside the market, the company now calculates the median value instead of the average value. With this change the study is now closer to the reality of the market. The report continues to be based on the offer prices published by the Idealista’s advertisers.


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