Buying a house continues to become more expensive in Portugal, although at a slower pace, due to the cooling in demand caused by the loss of purchasing power and high-interest rates on housing loans, without real monitoring of salaries. This is a trend already observed in mid-2023 that was felt again at the beginning of this year, with the prices of houses for sale rising just 0.6% in February compared to the previous month, and the median cost of housing remaining stable at 2,596 euros per square meter (euros/m2) at the end of February.
During this period, an increase in house prices was recorded in 7 district capitals between January and February, with Évora leading the rises (2.3%), reveals the idealista price index. In relation to the annual variation, house prices in Portugal rose 6.2%.
In February compared to the previous month, the prices of houses for sale rose in 7 district capitals, with Évora (2.3%), Guarda (1.4%) and Coimbra (1.4%) topping the list. Among the increases in the cost of housing are also Viseu (1.2%), Braga (1%), Setúbal (0.8%) and Porto (0.6%).
In Santarém (0.4%), Lisbon (0.4%), Leiria (0.3%), Castelo Branco (0.2%), Faro (0.1%), Viana do Castelo (-0. 3%) and Funchal (-0.5%), house prices remained practically stable during this period. On the other hand, houses to buy became cheaper in Ponta Delgada (-3.1%), Beja (-1.7%), Aveiro (-1.3%) and Bragança (-0.7%).
Lisbon continues to be the city where it is most expensive to buy a house: 5,538 euros/m2. Porto (3,517 euros/m2) and Funchal (3,214 euros/m2) occupy second and third place, respectively. This is followed by Faro (2,924 euros/m2), Aveiro (2,473 euros/m2), Setúbal (2,286 euros/m2), Évora (2,056 euros/m2), Viana do Castelo (1,877 euros/m2), Coimbra (1,864 euros/m2), m2), Ponta Delgada (1,822 euros/m2), Braga (1,794 euros/m2), Leiria (1,447 euros/m2) and Viseu (1,428 euros/m2).
The most economical cities to purchase a home are Guarda (795 euros/m2), Castelo Branco (869 euros/m2), Beja (913 euros/m2), Bragança (917 euros/m2) and Santarém (1,213 euros/m2).