Just over 136 thousand accommodation units were transacted in 2023, translating into a reduction of 18.7% compared to 2022 and corresponding to the lowest record since 2017”.

Although house sales fell last year, house prices in Portugal continued to rise. This is explained by the fact that there continues to be a lack of supply of houses in the Portuguese market compatible with family income.

“The median price of family accommodation in Portugal was 1,611 euros/m2, an increase of 8.6% compared to the previous year”, highlights the Portuguese statistics office. As expected, the municipality of Lisbon recorded the highest price in the country (4,167 euros/m2).

In 2023, 50 municipalities had house prices (median) higher than the national value. These municipalities are mainly located in the sub-regions of Algarve (14 out of 16 municipalities), Greater Lisbon (all 9 municipalities), Península de Setúbal (8 out of 9 municipalities), and Porto Metropolitan Area (7 out of 17 municipalities).

It should also be noted that the median housing price remained above the national value in the sub-regions of Greater Lisbon (2,740 euros/m2), Algarve (2,613 euros/m2), Península de Setúbal (1,901 euros/m2), Autonomous Region of Madeira (1,889 euros/m2) and Porto Metropolitan Area (1,800 euros/m2).