Monchique (3.5%), Lagos (1.9%), Aljezur (1.7%) are the three Algarve municipalities where the highest rise in house prices in the region was recorded in August, according to idealista prices.
This index adds that the price of houses in the Algarve rose 1.2% in August compared to the previous month. Buying a house cost 3,215 euros per square meter (euros/m2) at the end of August this year, taking into account the median value. In relation to the quarterly variation, the increase was 1.8% and the annual increase was 13%.
Analysing by municipality, prices in the region increased in Monchique (3.5%), Lagos (1.9%), Aljezur (1.7%), Loulé (1.7%), São Brás de Alportel (1 .3%), Albufeira (1%), Lagoa (0.7%), Portimão (0.6%) and Silves (0.6%). Prices remained stable in Olhão (0.1%), Faro (0%), Alcoutim (0%) and Tavira (-0.2%).
Conversely, prices only fell in Castro Marim (-4%), Vila do Bispo (-1.2%) and Vila Real de Santo António (-1.2%).
The most expensive municipality to buy a house is Loulé (3,898 euros/m2), followed by Lagos (3,643 euros/m2) and Aljezur (3,592 euros/m2).
This is followed by Vila do Bispo (3,586 euros/m2), Lagoa (3,572 euros/m2), Albufeira (3,294 euros/m2), Castro Marim (2,933 euros/m2), Faro (2,917 euros/m2), Tavira (2,894 euros /m2), Silves (2,873 euros/m2) and Vila Real de Santo António (2,805 euros/m2).
On the other hand, the cheapest are in Alcoutim (753 euros/m2), São Brás de Alportel (2,335 euros/m2), Monchique (2,372 euros/m2), Portimão (2,499 euros/m2) and Olhão (2,718 euros/m2).
At a national level, housing prices remained stable during the same period, standing at 2,526 euros/m2.