Although the prices of houses for sale have been stabilizing for four months (July and October), an analysis in annual terms reveals that buying a house in Portugal became 4.8% more expensive in the last 12 months ending in October, according to the data presented in the October price report by idealista. With this increase, the median price of housing now stands at 2,500 euros per square meter (euros/m2).
During this period and looking at the different district capitals of the country, the biggest increase in prices of houses for sale occurred in Viana do Castelo, where there was an increase of 29.5%. This is followed by Funchal (20.1%), Santarém (19.3%), Bragança (17.1%), Faro (16.2%) and Braga (14.9%). In Porto, house prices rose by 6.5%, while in Lisbon there was an increase of 5.4%. The smallest price changes were observed in Leiria (1.7%), Beja (2.4%) and Évora (2.7%). Aveiro was the only district capital where the prices of houses to buy fell, with a decrease of 1.7%.
Lisbon thus remained the most expensive city to purchase housing, with a median cost of 5,401 euros per m2. Right after, are Porto (3,392 euros/m2), Funchal (3,105 euros/m2), Faro (2,918 euros/m2) and Aveiro (2,411 euros/m2). On the other hand, Portalegre presents the most affordable houses to buy, with a price of 747 euros/m2, followed by Guarda (830 euros/m2), Castelo Branco (844 euros/m2) and Beja (941 euros/m2).
The prices of houses for rent in Portugal increased by 26.3% in the last year. This increase led to median rents reaching 15.3 euros per square meter per month (euros/m2/month).
Analyzing large Portuguese cities, the biggest increase was seen in Porto, where house rents rose 32.4% in one year, resulting in an average value of 16.5 euros/m2/month. In second place is Faro (32%), where the median cost of rent stood at 12.5 euros/m2/month. In Lisbon, prices also grew substantially (26.3%), reaching 20.9 euros/m2/month, making it the city with the most expensive rental in Portugal.
The smallest increases in house rents occurred in Viseu (13.5%), Braga (18.5%) and Funchal (19.4%). On the other hand, Viana do Castelo was the only district capital where the prices of houses for rent decreased in the last 12 months, with a drop of 3.9%.
Lisbon and Porto are the most exclusive cities in Portugal in terms of rentals, followed by Funchal (13.7 euros/m2), Faro (12.5 euros/m2), Évora (11.7 euros/m2) Setúbal (11, 5 euros/m2), Aveiro (11.5 euros/m2) and Coimbra (10.1 euros/m2).