The offer prices of houses advertised in Portugal increased by 6.8% in December, compared to the same month in 2024, according to the price index from Idealista, the online real estate portal for the national market.
At the end of December, the median price of homes offered for sale reached 3,019 euros per square meter, setting a historic high for the second month in a row, according to published data.
This value translates into an average price of 301,900 euros for a house measuring 100 square meters, considering the national median value of the offer.
In quarterly terms, prices also showed an upward trend, with an appreciation of 2.6%, said Idealista in a statement.
Lisbon remains the most expensive city in the country to buy a house
Lisbon remains the most expensive city in the country to buy a house, after an annual increase of 4.8%, standing at 5,995 euros per square meter, which puts the value of a 100 square meter home at 599,500 euros.
Next are the cities of Porto (3,885 euros/m2), Funchal (3,861 euros/m2), Faro (3,435 euros/m2) and Setúbal (3,010 euros/m2).
House offer prices rose in almost all of the 20 district capitals and autonomous regions analyzed by the Idealista index, with the biggest annual variations being recorded in Santarém (27.1%), Beja (20%) and Setúbal (17.2%).
More moderate increases in announced values were observed in Bragança (5%), Évora (4.9%), Lisbon (4.8%) and Porto (4.8%).
The exception to the increases was Vila Real, with an annual decline of 6.1%.
The upward trend is also seen in all 26 districts and autonomous regions analyzed by Idealista.
In the last 12 months, prices accelerated more in the Azores
In the last 12 months, it was in the Azores that prices accelerated the most (20.1%), ahead of Madeira (14.6%), Alentejo (14.3%), Centro (10.8%), Algarve (8.8%) and Lisbon Metropolitan Area (8.6%). In the North, prices remained unchanged (0.5%).
The biggest annual increase, of 42.6%, was recorded on the island of Porto Santo (42.6%), followed by the island of Faial (29%), the island of São Miguel (20.2%), the island of Terceira (19.9%), Santarém (18.8%) and Setúbal (18.3%).
As for prices per square meter, the Lisbon district is also the most expensive, with housing supply values of 4,573 euros/m2. Next comes Faro (3,870 euros/m2), Porto Santo island (3,729 euros/m2), Madeira island (3,715 euros/m2) and Setúbal (3,195 euros/m2).
At a regional level, the Lisbon Metropolitan Area, with a median price of 4,239 euros/m2, continues to be the region most valued by those looking to buy a house. Next are the Algarve (3,870 euros/m2) and the Autonomous Region of Madeira (3,715 euros/m2).
The real estate price index is constructed from the offer prices (based on built square meters) published by the Internet portal’s advertisers. “Atypical advertisements with out-of-market prices are eliminated from the statistics”, explains the statement.
“We also included the typology “single-family houses” and discarded all advertisements that are in our database and that have not been interacted with by users for some time. The final result is obtained through the median of all valid advertisements in each market”, he concludes.
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