The median price of family housing transacted in Portugal increased by 10.3% in 2024 compared to the previous year, being in the 1,777 euros per square meter (M2), the National Institute of Statistics (INE) released.
“Taking as a reference the 151,784 sales made during the year 2024, the median price of family housing in Portugal was 1,777 €/m2, increasing 4.0% over the year in September 2024 and 10.3% for the year 2023,” says INE.
According to the Statistical Institute, the median housing price was higher than the national value in the subregions of Greater Lisbon (2,939 €/ m2), Algarve (2,752 €/ m2), Autonomous Region of Madeira (2,395 €/ m2), Setúbal Peninsula (2,117/ m2) and Porto Metropolitan Area (1,986 €/ m2). “In the period under analysis, 54 municipalities presented a higher average price than national value, located mostly in the Algarve subregions (14 in 16 municipalities), Greater Lisbon (all nine municipalities), Setúbal Peninsula (eight in nine municipalities) and Porto Metropolitan Area (seven in 17 municipalities),” Detalha. The Municipality of Lisbon (4,340 €/m2) stood out with the highest price of the country, and there are also values exceeding 3,400 €/m 2 in Cascais (4,053 €/m2), Oeiras (3,471 €/m2) and lakes (3,452 €/m2).
The INE also notes that the Algarve and the Greater Lisbon presented price differentials between municipalities over 2,200 €/m2.
In 2024, the municipality of Lisbon registered the largest number of family housing transactions in the country (8,300), with more than 4,500 sales, the municipalities of Sintra (5,817), Vila Nova de Gaia (5,394) and Porto (4,564). Lisbon registered the median price of the highest housing, among the 24 municipalities with more than 100 thousand inhabitants, in both categories of tax domicile: 4,238 €/m 2 by buyers of the national territory and 5,771 €/m 2 by buyers with tax domicile abroad.
In addition to Lisbon, Cascais and Oeiras also registered, at the same time, medium prices of family housing exceeding 3,400 €/m 2 in transactions involving buyers with fiscal domicile in national territory and more than 3,900 €/m 2 by buyers abroad.
The highlights the municipalities of Lisbon, Cascais, Oeiras, Funchal and Porto for presenting the highest medium prices among the 24 municipalities with more than 100,000 inhabitants and in the two categories of the buyer’s institutional sector considered.
Already the municipalities of Lisbon and Vila Franca de Xira, presented price differentials between institutional sectors of the buyer of over 700 €/m2.
Last year, 23 of the 24 municipalities with more than 100,000 inhabitants registered medium new housing prices higher than existing housing prices, the exception being the municipality of Amadora, where the median price of existing housing was higher at € 63/m 2 to € 2,493/m 2 and 2,430/m2, respectively).
Santa Maria da Feira registered the lowest median price of new housing (1,482 €/m2), while the municipalities of Cascais (5,132 €/m2) and Lisbon (5,035 €/m2) recorded the highest values, exceeding 5,000 €/m2. In turn, Cascais presented the largest differential between new (5,132 €/m2) and existing (3,872 €/m2) prices, which ascended 1,260 €/m2, and also distinguished, among municipalities with more than 100,000 inhabitants, for presenting the highest price in T4 or higher (4,585 €/m2).
Already Lisbon registered the highest medium values in the other accommodation typologies considered. The biggest difference between the median values in the four types of accommodation was in Funchal, between the typologies T0 or T1 (3,279 €/m2) and T4 or higher (2,007 €/m2): 1,272 €/m2.
Considering only the fourth quarter of 2024, the median price of the 44,115 family housing transacted in Portugal was 1,870 €/m2, following a variation rate of 15.5% over the fourth quarter of 2023 (10.8% in the previous quarter).
The number of family housing transactions in Portugal increased by 34.2% over the same quarter of 2023, with the median housing price increased in the 26 Sub-Regions Nuts III, especially the Autonomous Region of Madeira with the highest growth (54.9%).
Sub-regions with medium housing prices Lisbon, Autonomous Region of Madeira, Algarve and Porto Metropolitan Area-also presented the highest values in both categories of the buyer’s fiscal domicile (national and foreign territory).
The exception was the Setúbal Peninsula, which surpassed the value of the country in transactions involving buyers with fiscal domicile in the national territory, although it did not happen in those involving buyers with fiscal domicile abroad.
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