Evolution of house prices in Portugal House Sales

House prices in Portugal, Evolution

The evolution of house prices in Portugal, according to INE data, continues to rise. There is an evolution of this tendency towards new areas, apparently, because the pressure in Lisbon and Porto is already at very high levels. Real estate agents have a more accurate 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 impartial 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 centres. We will therefore be able to get an idea of ​​the trends that are taking place both from the point of view of the sale or the purchase of a house for housing or another destination.

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Evolution of house prices in Portugal

Since 2018 the rate of growth in house prices has been rising.

Comparing the values ​​of the median prices of home sales in the 3rd 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 family dwellings in the last 12 months by Geographic location; Quarterly; Source: INE February 1, 2022

Median Sales Value - Price (€) /m23rd Quarter of 20213rd Quarter of 20203rd Quarter of 20193rd Quarter of 2018
National Total2018186816971558
Annual Growth8.0%10.1%8.9%
Annual average9.8%

Between the 3rd quarters of 2018 and 2021, the price per m/2 rose 29,5%, an average of 9,8% per year.

Table 2. Price of houses per square meter; Median value of sales per m2 of family dwellings in the last 12 months by Geographic location; Quarterly; Source: INE February 1, 2022

Median Sales Value - Price (€) /m23rd Quarter of 20213rd Quarter of 20203rd Quarter of 20193rd Quarter of 2018
Total2018186816971558
Braga11191012923753
Porto2264201618021525
Vila Nova de Gaia141612591113925
Coimbra1453138412821239
Amadora1778161114391179
Lisbon3427337532052877
Funchal1682168615511493

Despite this global increase, regions such as Porto, Vila Nova de Gaia, Braga and Amadora increased in the 3rd quarter of 2021, compared to the same quarter of the previous year, more than the national average. Porto with annual increase of 12,3% and Vila Nova de Gaia with 12,5%.

Table 3. Percentage change in house prices in Portugal; Median value of sales per m2 of family dwellings in the last 12 months by Geographic location; Quarterly; Source: INE February 1, 2022

Percentage change in house prices3rd Quarter of 20213rd Quarter of 20203rd Quarter of 20193rd Quarter of 2018
National Total8.0%10.1%8.9%9.8%
Braga10.6%9.6%22.6%16.2%
Porto12.3%11.9%18.2%16.2%
Vila Nova de Gaia12.5%13.1%20.3%17.7%
Coimbra5.0%8.0%3.5%5.8%
Amadora10.4%12.0%22.1%16.9%
Lisbon1.5%5.3%11.4%6.4%
Funchal-0.2%8.7%3.9%4.2%

Amadora also appears, in the 3rd quarter of 2019, with an annual increase of 22,1%, more than double the national average increase, although in the 3rd quarter of 2021 the increase was smaller, but still greater than the national average increase.

Braga presents an increase of 10.6% higher than the national average, having had an increase of 3% in the 2019rd quarter of 22.6.

Lisbon had a slight increase in the 3rd quarter of 2021 of 1,5% and below the national average of 8,0%.

The sale of houses in Coimbra and Funchal saw price increases lower than the national average.

The following graph gives a visual idea of ​​the evolution of house prices. Note that the legends show the colors assigned to each city and, since 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 choose.

If we want to know more details about the prices of houses sold, INE has a interactive map of house prices in cities, parishes and streets.

Source methodology used in this data

The data presented in this article are based on statistics on housing prices from the National Statistics Institute (INE) which gives them some advantages:

1 – INE is an entity that does not intervene in the business of buying and selling real estate, the data are not biased and therefore we can consider the data as reliable and produced by an exempt entity.

2 – INE values ​​are based on prices of real houses and on the private gross area of ​​the property, which allows obtaining correct values ​​of prices per square meter. This information is shared by the Tax Authority, allowing INE access to tax information.


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3 – Properties with a gross private area greater than 600m2 or less than 20 m2 are excluded from this statistic, thus not biasing the values ​​per square meter of a given area.

Studies carried out by real estate agents

In some cases, real estate portals are based on the asking price and not the actual value of the transaction, and sometimes the areas entered are not correct. Therefore, we find the same property advertised for different prices and areas.

In the larger mediation companies, you can find out the real transaction prices, but only in those where they had direct intervention in the business, which may limit the scope of the study. In this case, the advantage is that prices can be more current than those of INE, which are normally published a few quarters later.

There are also databases with the values ​​that various associated companies provide them. However, this information depends on the companies that are associated with a given database.

See too


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