Evolution of house prices in Portugal

Evolution of house prices in Portugal

The evolution of house prices in Portugal, according to data from the National Statistical Institute (INE), continues to rise. There is an evolution of this trend towards new areas, apparently, because the pressure in Lisbon and Porto is already at very high levels. Real estate agents have a better perception, as they are permanently in contact with the market. However, the statistics on the price of houses per square meter, which are provided to us by an exempt entity such as INE, despite not being “real time” information, give a correct and reliable view of the real estate market in the largest urban centers. We will therefore be able to get an idea of ​​the trends that are taking place, whether from the perspective of selling or buying a house for housing or for any other purpose.

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Evolution of house prices in Portugal

Since 2018, house prices per square meter have been rising.

Comparing the values ​​of the median prices of home sales in the 2st quarter of each year, since 2018 the evolution was as follows.

Table 1. Evolution of house prices in Portugal; Median value of sales per m2 of households in the last 12 months by Geographic localization; Quarterly; Source: INE October 28, 2021

Median Sales Value - Price/m22nd Qtr 20212nd Qtr 20202nd Qtr 20192nd Qtr 2018
National Total € 1 € 1 € 1 € 1
Annual Growth9,2%9,3%9,6%
Annual average10,3%

Between the 2nd quarters of 2018 and 2021, the price per m2 rose 30,8%, an average of 10,3% per year.

Table 2. House prices per square meter; Median value of sales per m2 of households in the last 12 months by Geographic localization; Quarterly; Source: INE October 28, 2021

Median Sales Value - Price/m22nd Qtr 20212nd Qtr 20202nd Qtr 20192nd Qtr 2018
National Total € 1 € 1 € 1 € 1
Braga € 1 € 1 875€ 738€
Porto € 2 € 1 € 1 € 1
Vila Nova de Gaia € 1 € 1 € 1 902€
Coimbra € 1 € 1 € 1 € 1
Amadora € 1 € 1 € 1 € 1
Lisboa € 3 € 3 € 3 € 2
Funchal € 1 € 1 € 1 € 1

Despite this global increase, regions such as Porto and Vila Nova de Gaia increased in the 2nd quarter of 2021, compared to the same quarter of the previous year, more than the national average. Porto with an annual increase of 17,8% and Vila Nova de Gaia with 14,8%.

Table 3. Percentage change in house prices in Portugal; Median value of sales per m2 of households in the last 12 months by Geographic localization; Quarterly; Source: INE October 28, 2021

Percentage change in house prices2nd Qtr 20212nd Qtr 20202nd Qtr 20192nd Qtr 2018
National Total9,2%9,3%9,6%10,3%
Braga7,1%14,3%18,6%15,0%
Porto17,8%8,1%20,7%17,9%
Vila Nova de Gaia14,8%15,3%17,5%18,5%
Coimbra5,7%7,0%3,1%5,5%
Amadora9,2%17,0%21,8%18,6%
Lisboa-1,7%7,0%14,6%6,8%
Funchal3,4%4,4%8,3%5,6%

Amadora also appears, in the 2nd quarter of 2019, with an annual increase of 21,8%, more than double the national average increase, although in the 2nd quarter of 2021 the increase was smaller and equal to the national average increase.

Lisbon had a decrease in value per square meter in the 2st quarter of 2021.

Braga, Coimbra and Funchal with increases below the national average.

The following chart gives a visual idea of ​​the evolution of house prices. Note that the legends show the colors of each city and, as the map is interactive, if you place the cursor on each of the points, you will see the value in euros of the price per square meter in the city and quarter you have chosen.

How can we know the sales values ​​of homes in specific zones

If we want to know more details of the prices of houses sold, INE has an interactive map that allows us to know the prices in more detail.

Using interactive map of Statistics Portugal we can know the price of houses in Portugal per square meter, those actually sold, by parish, block or set of blocks (500x500m squares) and also by statistical section.

For example, if you want to analyze the Olivais area in Lisbon, access the interactive map:

Fig 4. INE Sales of Homes Interactive Map
Fig 4. INE Sales of Homes Interactive Map

Choose Lisbon as the desired city. After the “ok” the map of the Lisbon region appears.

Check where the Olivais area is and click on that area. The application draws the limit of Olivais and indicates the value per square meter and the number of houses sold there. It also compares with the reference value for Lisbon.

Note that the “Territorial Unit” selected is “Parishes/Groups”. Also the 1st Quarter of 2021 and the indicator of sales per m2 of the “Total” of family accommodation.

Fig 5. Analysis of the sale of houses in Olivais, Lisbon with the evolution of house prices in Portugal
Fig 5. Analysis of the sale of houses in Olivais, Lisbon

Use the Portuguese version of the map if it is not the current version by default. Just click on the option in the upper left corner.

You can also change the way the map looks. To do this, click on the “Base Map Gallery” button.

With the option "Streets" the map looks like this:

Fig 6. Option to visualize with another type of maps the sale of houses in Olivais, Lisbon
Fig 6. Option to visualize with another type of maps the sale of houses in Olivais, Lisbon

With Lisbon selected, click on “Freguesias/Agrupamentos” and select another quarter, for example the “4th quarter of 2020”.

On the map, choose Freguesia dos Olivais and click on the button for the selection of “Freguesia Olivais”. We verified the following result:

Fig 7. Olivais Real Estate Market Result, another quarter
Fig 7. Olivais Real Estate Market Result, another quarter

In Olivais, sales in the 4th quarter of 2020 have a median value of €2.527/m2, while Lisbon has a value of €3.377/m2.

Proceeding in the same way, for the 1st quarter of 2021, sales have a median value of €2.595/m2 and Lisbon with a value of €3.296/m2.

If you want to know in more detail the price of houses per square meter sold, in an area delimited by you, select the desired squares.

For example, in the 1st quarter of 2021, select the option “Squares 500x500m”, choose the button “add territorial units” and click on the squares you want, which must be adjacent.

Fig 8. Selection of grid
Fig 8. Selection of grid

Click on "calculate value".

The squares change color and show the median value of homes sold for the selected quarter, as well as the number of homes sold.

Fig 9. Analysis of the real estate market result of the chosen grid
Fig 9. Analysis of the real estate market result of the chosen grid

In summary, in this zone corresponding to the 5 chosen squares, sales had a median value of €2.572 per m2, with a total of 84 home sales. A significant sample.

For Lisbon, the reference value in this 1st quarter of 2021 is €3.296 per m2.

The price of houses per square meter in Marvila, Lisbon

In Lisbon, the highest growth in 2019 was in the Parish of Marvila. An increase of 87,9% between the 1st quarter of 2018 (1.483€/m2) and the 1st of 2019 (2.786€/m2). This very high value is due to projects built and under construction, located in Braço de Prata.

Fig 10. Evolution of house prices in Marvila, Lisbon
Fig 10. Evolution of house prices in Marvila, Lisbon

In the 1st quarter of 2021, the median price reached €2.682/m2, lower than the Lisbon average for this quarter, €3.296.

We can verify the evolution in relation to the previous quarter, by selecting the 4th quarter of 2020, median value of 2.742€ and Lisbon with 3.377€.

Another example with Cidade da Amadora

With the option “Statistical Section” selected, we can analyze a smaller area, for example, the Venteira. We see the next result.

Fig 11. Price of houses per square meter in Venteira, Amadora
Fig 11. Price of houses per square meter in Venteira, Amadora

In the 1st quarter of 2021, the price per m2 was €1.700, the result of 11 homes sold, with the Amadora reference at €1.714/m2.

In the 4th quarter of 2020, the value is €1.703/m2, 10 homes sold and with Amadora €1.667/m2.

Houses for Sale in Porto

For example, to check the real estate market in the Aldoar area, first select the squares you want.

If you want to see several squares, you have to click on the button “aggregate territorial units” and after selecting the squares click on “calculate value”.

Fig 12. Real estate market analysis in Aldoar, Porto
Fig 12. Real estate market analysis in Aldoar, Porto

We obtained for the 1st quarter of 2021, a median value of sales per m2 (€) of 3.614€, with 29 homes sold, 62% above the average value of Porto (2.233€).

Investigate and explore the data according to your interest

In this interactive map by INE, you can analyze in detail the evolution of the price of houses in Portugal per square meter.

You can view sales per m2 (€) of total family accommodation or apartments only.

Data are available for the cities of Amadora, Braga, Coimbra, Funchal, Lisbon, Porto and Vila Nova de Gaia.

The Territorial Unit can be

  • Parishes/Groups
  • 500m squares
  • Statistical Sections

However, the smaller the area chosen, the smaller the number of homes sold and the less rigorous the statistics.

See too


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