Property prices soar again
Published on 16th November, 2017 by
New figures recently released from the National Statistics Institute (INE) and analysed by the Portuguese newspaper Correio da Manhã, have shown that Portugal’s property market continues to rise rapidly.
41 of the 308 Portuguese municipalities scored house prices above the national value.
Lisbon is still the most expensive district of Portugal, with real estate at €2,231 per m2 of floor space. This is 15% higher than it was this time last year with old properties fetching as much as new builds in some areas. Lisbon, Porto and the Algarve continue to exceed the national average, with the central area of Portugal the least expensive.
The figures demonstrate that nationally, the average price of a square metre of Portuguese real estate is €896, which is up 6.4% on the same period last year. Per m2 of floor space, there can be more than €2,000 difference in prices, depending on the area.
Unsurprisingly, the most expensive area of Portugal is Lisbon, where buying a property in the charming, trendy areas of Avenida da Liberdade or Marquês de Pombal costs around €3,294 per square metre; up just over 46% in 12 months!
In the Algarve, pretty much from the East to the West, almost every area has seen a taste of the boom – with prices ranging from between €896 and €2,231 per m2.