The price of houses in the Algarve increased by 10.7% in May compared to the same month last year, reaching a median value of 4,057 euros per square meter. The data comes from the most recent idealista price index, which reveals a quarterly appreciation of 3% in the Algarve housing market.
Among the 16 municipalities analyzed, Monchique stood out as the municipality with the biggest annual increase in house prices, registering an appreciation of 32.9%. Next come São Brás de Alportel, with an increase of 24.5%, and Vila Real de Santo António, where prices increased by 19.3%.
Faro (15.3%), Castro Marim (13.6%) and Portimão (12.9%) also showed increases higher than the regional average. Loulé (9.6%), Lagos (9.4%), Olhão (8.2%), Tavira (8.1%), Albufeira (6.8%) and Lagoa (6.6%) recorded more moderate growth. Conversely, Alcoutim was the only Algarve municipality to show a drop in house prices, with a drop of 15.2%.
Loulé continues to lead among the most expensive markets
Despite not having recorded the biggest annual increase, Loulé remains the most expensive municipality in the Algarve to buy housing, with a median price of 4,669 euros per square meter.
At the top of the most valued markets are Lagos, with 4,609 euros per square meter, and Lagoa, with 4,016 euros. Next come Albufeira (3,953 euros), Vila do Bispo (3,924 euros) and Faro (3,792 euros).
At the opposite end of the table is Alcoutim, where the median price is 1,019 euros per square meter. The data shows that buying a house in Loulé currently costs more than four times the value recorded in that municipality in the interior of the Algarve.
Algarve continues to be the second most expensive region in the country
The national analysis reveals that house prices increased by 10.2% in the last year, reaching 3,142 euros per square meter.
Among Portuguese regions, the Algarve remains the second most expensive to purchase housing, with a median price of 4,057 euros per square meter, behind only the Lisbon Metropolitan Area, where the value reaches 4,391 euros.
At district level, Faro continues to occupy second place among the most expensive districts in the country, with a median price of 4,057 euros per square meter, surpassed only by Lisbon.
The full idealista report is available at:
Also read:
