House prices maintain upwards trend, now at €984 per square meter

  • ECO News
  • 31 January 2019

The average price per square meter in the third quarter of last year stood at €984, for houses sold in Portugal, representing a year-on-year 7.9% increase.

House prices in Portugal continue rocketing, and although there are a few signs of a slowdown approaching, these are very limited. During the third trimester of 2018, average prices per square meter for houses being sold in Portugal stood at €984, which translates to a 7.9% increase in comparison to last year. In Lisbon, prices per square meter reached €2,877, three times the national average.

The data was released this Thursday by the Portuguese Office for National Statistics (INE) and it shows that 42 councils have prices per square meter above the national average, most of which are located in the Algarve (€1,659 per square meter) and the metropolitan area of Lisbon (€1,666 per square meter). This is a trend which has been worsening, given that in the second quarter of 2018, there were only 38 councils with prices above average.

In national terms, the average price per square meter rose to €984, which represents a 1.5% increase if compared with the previous quarter, and a 7.9% year on year increase. The growth pace is slowing down, but not significantly.