According to the latest idealista price index, the prices of homes to buy in Portugal rose 8.4 percent in one year, considering data from September 2021 and the same month last year. Data shows that at the end of September 2021, buying a house had a cost of €2,266 euros per square metre (m2), taking into account the median value.
Highs and lows
Over the past year, property prices have risen in all regions, with the Autonomous Region of Madeira heading up the list with an increase of 17.4 percent. This is followed by the Metropolitan Area of Lisbon (10.1 percent), the Algarve (7.9 percent), the Centre (7.8 percent), the North (7.1 percent), the Alentejo (5.8 percent) and the Autonomous Region of the Azores (4.7 percent).
Over all Lisbon continues to be the priciest place to buy a property in Portugal with property averaging €3,252m2, while the Algarve continues to also be a popular choice, pushing prices up to €2,527m2. The next most expensive area is the North (€1,914m2) followed by the Autonomous Region of Madeira (€1,872m2). At the other end of the scale is the Autonomous Region of the Azores (€1,044 m2), the Alentejo (€1,088m2) and the Centre (€1,168m2), all being the cheapest regions in Portugal.
Price hikes and drops
Of the districts analysed by idealista, the highest increases were seen in Vila Real (19.9 percent), Ilha da Madeira (17.4 percent), Évora (14.7 percent), Setúbal (12.5 percent), Aveiro (12.4 percent), Lisbon (10.2 percent), Leiria (9.5%), Porto (8.4 percent), Faro (7.9 percent) and Santarém (6.6 percent).
There have however, been some areas of Portugal that have seen prices fall over the past year. House prices decreased in Portalegre (-5.9 percent), Bragança (-1.7 percent), Guarda (-1.2 percent) and Ilha do Pico (-1.1 percent).