Housing prices keep on rocketing – 6.4% increase in the second trimester. Square meter now costs €1,687

  • ECO News
  • 4 July 2018

Price per square meter in Lisbon hits €3,067, though it has decreased by 0,4%

House prices are shooting up. Portuguese house prices have been on the rise – a square meter costs at the moment €1,687, accordingly to Idealista’s Real Estate Prices Index. Although Lisbon has registered a slight decrease in prices, the district is still the most expensive as square meter costs hit €3,067.

Between the months of April and June of the current year, houses have become more expensive in comparison to the first trimester with prices rising by 6,4% – yet in Lisbon house prices started to show a tendency towards stabilizing as its 0,4% decrease in prices indicated.

During the first trimester of this year house prices country-wide rose by 6,4%, with square meter prices reaching €1,867 in the second trimester as against €1,754 during the first.

It is visible that prices are rising all over the country quite homogeneously – with each region witnessing a considerable rise in each trimester. Despite that, the North of Portugal takes the lead as it observed an 8% increase. Lisbon and Algarve both have seen prices increasing by 6,4%, Alentejo by 4,2% and lastly Madeira and the Centre’s house prices have gone up 3,5%.

In terms of prices, Lisbon remains at the top – in this region, it is more expensive to purchase a house. In Lisbon, it is estimated that the square meter is around €2,629, while in Algarve it is reckoned to value €1,916 and in Madeira €1,546.

In terms of districts, the overall prices have risen everywhere.

20 of them have been analyzed – inclusively Madeira and Porto Santo – with the top 4 in terms of price increase being Leiria (11,8%), Porto (8,3%), Guarda (8,2%) and Viseu (6,6%). Lisbon actually registered the lowest rise: 4,9%. On the contrary, prices decreased in Bragança (-6,8%), Santarém (-3,1%) and Castelo Branco (-0,9%).

If we focus on the highest values per square meter, however, the Lisbon district takes the lead with €3,067, surpassing Faro (€1,649 per square meter). Lower prices per square meter are found in Bragança(€675), Guarda (€648) and Castelo Branco (€678).

Cities recording the highest increases have been Aveiro and Guarda

House prices increased in 15 district capitals, with Aveiro and Guarda taking the lead, both with a growth of 8,2%, followed by Évora (7,1%), Portalegre (5,6%), Beja (5,4%) and Viseu (5,2%). Porto has seen prices increase by 4,3%.

Against all odds, houses in Lisbon got relatively cheaper – prices decreased 0,4% during the second trimester in contrast to the first trimester 3,3% increase and last year’s final record of 2,0%. However, Lisbon remains as the city where it is more expensive to buy a house.