The average house price in Portugal rose by 17.8% in the second quarter of this year, to €1,494 per square meter (m2), but local house price data released on Tuesday by the National Statistical Institute show some regional differences in evolution of this index.
While the median price increased in all 25 NUTS III sub-regions, analysis by municipality shows that seven of the 24 regions with populations over 100,000 slow down“highlighting Lisbon (-6.1 percentage points), which registered a growth of 7.6% in the second quarter.
In six other municipalities, among the 11 municipalities of the Lisbon agglomeration with a population of more than 100,000 people, there was even an acceleration of this price increase, “with Lures (+8.8 pp)”, according to INE.
However, “in all municipalities with a population of more than 100,000 people in the Lisbon metropolitan areas, median house prices are recorded above the national value (1494 euros/m2), especially in Lisbon (3786 euros/m2) and Cascais (3491 euros/m2) . ) with values above 3,000 euros/m2,” the INE said in a statement.
In the Porto metropolitan area, “the annual rate of change has also increased in four of the six municipalities with a population of over 100,000, port allocation (+9.2 p.p.) and Matosinhos (+5.3 p.p.),” the statistical agency reports.
Also in this NUT III, all municipalities with a population of more than 100 thousand have median prices above the national value, with the exception of Gondomar and Santa Maria da Feira.
Of this group of 17 municipalities in metropolitan areas with a population of over 100,000, annual fluctuations higher than the national average include: Setúbal (+23.5%), Vila Nova de Gaia (+23.4%), Sintra. (+19.8%), Porto (+18.5%), Oeiras (+18.2%) and Almada (+17.9%).
“On the contrary, in Cascais (+15.7%) and Lisbon (+7.6%) the rate of change on an annualized basis is lower than in the country, and the municipality of Lisbon recorded the lowest rate among the 24 municipalities with a population of more than 100,000 people. . ”
The two sub-regions with the highest average prices are the Algarve (€2,358/m2) and the Lisbon agglomeration (€2,076/m2). “They also showed the highest values in both categories of buyer tax domicile: domestically (respectively 2222 euros/m2 and 2050 euros/m2) and abroad (2734 euros/m2 and 3782 euros/m2).”
In short, the average price of a family home bought in the Algarve shows a difference of around 500 euros per m2 between local and foreign buyers. In the Lisbon area, this difference is about 1050 euros.
Regionally, according to INE, “only in the Algarve, the median value of the house price (2358 euros/m2) and the annual change rate (+23.8%) are simultaneously recorded higher than in the country (1494 euros/m2). euro/m2) m2 and +17.8%)”.
In the metropolitan areas of Lisbon (€2,076/m2) and Porto (€1,576/m2) and in the Autonomous Region of Madeira (€1,534/m2), median prices are also higher than the country’s value added. However, the year-over-year change results in lower growth than the national figure (+16.5%, +17.5% and +5.8%, respectively).
At the end of the list, Alto Alentejo remains the NUT III region with the lowest average price, 500 euros/m2.
