“Taking as a reference sales made during the 12 months between January and December 2023, the median price of family accommodation in Portugal was 1,611 euros/m2, increasing 2.0% compared to the year ended in the previous quarter and 8.6% compared to the year ended in the same quarter”, says INE.

According to the statistical institute, the median housing price remained above the national value in the sub-regions of Greater Lisbon (2,740 €/m2), Algarve (2,613 €/m2), Península de Setúbal (1,901 €/m2), Region Autonomous Region of Madeira (1,889 €/m2) and Metropolitan Area of Porto (1,800 €/m2).

“In the period under analysis, 50 municipalities presented a median price higher than the national value, mainly located in the Algarve sub-regions (14 out of 16 municipalities), Greater Lisbon (all nine municipalities), the Setúbal Peninsula (eight out of nine municipalities ) and in the Porto Metropolitan Area (seven out of 17 municipalities)”.

The municipality of Lisbon (4,167 €/m2) stood out with the highest price in the country, with values exceeding 3,000 €/m2 also being recorded in Cascais (3,976 €/m2), Loulé (3,269 €/m2), Lagos (3,182 €/m2), Vila do Bispo (3,162 €/m2) and Oeiras (3,158 €/m2).

INE also notes that the Algarve and Greater Lisbon presented price differentials between municipalities exceeding €2,000/m2.