House prices increase by 13,8% in one year in Portugal

Written By Lara Silva

As expected, house prices grew exponentially post-COVID. In the past year, house prices have increased by 13,8% in Portugal. This is a large contrast to the growth seen last year of 5%. In January of 2022, the average selling price for a house reached over €2000/m2. Areas that had previously not seen much growth and were considered affordable have also seen a sharp increase.

Experts argue this price increase is due to an increase in people looking to purchase a house and a lack of houses available, as well as the COVID-19 pandemic. The increase in house purchases has contributed to the rise in prices, as around 60,000 purchases were made between November and January, a 9% increase from the three months prior.

The councils that grew the most in their house valuations were Palmela, Mafra, and Sintra, reaching over 20% price increases. The areas of Aveiro, Braga, and Vila do Conde also saw a large increase, areas that were considered affordable.

It seems that purchasing real estate in Portugal remains a safe investment as homeowners face large returns on their investments in a growing market. Still, make sure to seek financial advice from a professional if you are looking to purchase property in Portugal. Buying a home could potentially even land you permanent residence or even citizenship if you are eligible to apply for a Portugal Golden Visa.

Stay up to date
Subscribe To's Newsletter

Receive the latest news, travel information, stories, offers and more!

Invalid email address
Give it a try. You can unsubscribe at any time.

Most Expensive Places to Buy a House in Portugal

  1. Lisbon (€3,692/m2)
  2. Porto (€2,270/m2)
  3. Faro (€2,625/m2)
  4. Setubal (€1,960/m2)
  5. Madeira (€1,925/m2)

Cheapest Places to Buy a House in Portugal

  1. Portalegre (€604/m2)
  2. Guarda (€650/m2)
  3. Castelo Branco (€723/m2)
  4. Braganca (€780/m2)
  5. Beja (€840/m2)

Guide to Real Estate in Portugal

Rental prices have also increased, making it more expensive than ever to rent a house in Portugal. In the past month alone, rental prices increased by 0.7%, and by 1,8% in the last 3 months, according to Idealista. The largest monthly increase in rental prices occurred in Coimbra (6,4%), Braga (4,5%), Viseu (3,1%), Lisboa (1,7%), São Miguel island (1,1%), and Porto (0,5%).

Most Expensive Places to Rent a House in Portugal

  1. Lisbon (€13/m2)
  2. Porto (€10,1/m2)
  3. Faro (€9,8/m2)
  4. Madeira (€9,2/m2)
  5. Setubal (€9/m2)
  6. Coimbra (€7,5/m2)
  7. São Miguel (€7,1/m2)

Cheapest Places to Rent a House in Portugal

  1. Vila Real (€4,5/m2)
  2. Viseu (€5/m2)
  3. Santarem (€5,2/m2)
  4. Castelo Branco (€5,8/m2)
  5. Viana do Castelo (€6,2/m2)

For more information on how to buy a house in Portugal, take a look at our International Guide to Real Estate in Portugal. From an overview of the property market, to where to buy a house, property taxes, and obtaining Portuguese residency, our guide goes into every single detail.

⬇️Please share your thoughts in the comments below ⬇️

Related Articles


Please enter your comment!
Please enter your name here

Follow Us


Most Popular

Portugal Golden Visa: The Ultimate Guide to Portugal’s Golden Visa 2023

2023 Update: Portugal's Golden Visa Coming to an End Portugal shocked the world in February 2023 when the government announced an end to Portugal’s Golden Visa scheme...

Portugal Golden Visa: Can I Still Apply and When Will it End?

Portugal shocked the world in February when the government announced an end to Portugal's Golden Visa scheme to tackle the housing crisis. The program...

Celebrating the Carnation Revolution With an Eye to the Future

Today marks 49 years since the Carnation Revolution of April 25, 1974, and among almost fifty years of democracy, we may ask ourselves, what...

Latest Articles