House prices now at €1,492/m2

• 7 February, 23

The median price of a home in Portugal was 1,492 euros per square meter (m2) in the third quarter of 2022, 13.5% more than in the same period of the year before and 0.1% below the quarter earlier, according to INE.

The Algarve and the metropolitan areas of Lisbon and Porto recorded, simultaneously, median housing values (2,378 €/m2, 2,156 €/m2, and 1,660 €/m2, respectively) and year-on-year rates of change (+13.8%, +16 .1% and +20.4%) higher than in the country (1,492 €/m2 and +13.5%).

In addition to these regions, the Autonomous Region of the Azores (+24.1%), the Alentejo Litoral (+22.3%), the Lezíria do Tejo (+19.5%), the Alto Tâmega (+16.8 %), the Region of Aveiro (+16.3%) and Alentejo Central (+14.9%) registered year-on-year rates of change higher than those of the country, although they presented median prices lower than the national reference.

The three sub-regions with the highest median house prices – Algarve, Área Metropolitana de Lisboa, and Área Metropolitana do Porto – also showed the highest values in both categories of buyer’s tax domicile: national territory (2,232 €/m2, 2,128 €/m2, and €1,650/m2, respectively) and foreign (€2,854/m2, €3,511/m2 and €2,292/m2).

Cre: Portugalnews