Average housing prices surge 14% in Portugal at end-2021

 

The median price of family housing in Portugal was EUR 1,355 per square meter (m2) in the fourth quarter of 2021, 14.1% more than in the same period of 2020, according to national statistics institute INE.

The two sub-regions with the highest median house prices were, again, Algarve (EUR 2,144 per m2) and Lisbon (EUR 1,904 per m2), according to INE.

In the last three months of 2021, “all 24 municipalities with more than 100 thousand inhabitants recorded median prices of new housing higher than the prices of existing housing”, the same source added.

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The median value of dwellings transacted in Portugal involving purchasers with tax domicile abroad was EUR 2,302 per m2, while that of transactions carried out by purchasers with national tax domicile was EUR 1,319 per m2.

In the case of the Metropolitan Area of Lisbon (AML), the median value of homes purchased by purchasers with tax residence abroad (EUR 4,283 per square metre) was more than double the price of homes purchased by purchasers with tax residence in Portugal (EUR 1,858 per square metre).

Among the 24 municipalities with more than 100,000 inhabitants, all those in the metropolitan areas of Lisbon and Porto except Gondomar and Santa Maria da Feira recorded median house prices above the national figure.

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Maia (10.5 p.p.), Setúbal (9.8 p.p.), Vila Nova de Gaia (8.1 p.p.), Loures (3.0 p.p.), Almada (2.2 p.p.), and Oeiras (2.1 p.p.) were the municipalities in these metropolitan areas which recorded a higher acceleration than at the national level.

In the municipalities of Lisbon (0.4 p.p.) and Porto (0.9 p.p.), the “acceleration was less expressive,” according to INE.

In the rest of the country, “only Funchal showed both a median price (€1,967 per square metre) and year-on-year growth (22.5%) higher than the national figure, while Coimbra had a median value above the national reference (EUR 1,418 per square metre) and only Leiria grew in year-on-year terms above the national figure of 14.1% (15.4%).

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