Average Housing Prices Reach €1,117/m2

14 July 2020 The average price of homes sold in Portugal reached €1,117 per square meter during the first quarter of 2020, an increase of 3.3% q-o-q and 10.5% since the same period last year. It is also the highest level reached since the series began at the beginning of 2016.

According to the INE, after a slight slowdown in the pace of the rise in sales prices in 2018, the quarter was the third consecutive in which price increases have accelerated.

The most significant increases were in the country’s interior regions though Lisbon remained the most expensive city in Portugal. The average prices of homes sold in the municipality of Lisbon reached €3,333/m2, an increase of 7.1% y-o-y.

Barrancos, a very rural area on the Spanish border, posted the lowest average price at  116 euros per square metre. Three other municipalities have housing prices below 200 euros per square meter: Crato, Figueira Castelo Rodrigo and Freixo de Espada a Cinta.

Porto reported that housing prices reached €1,873/m2, up by 11.4%.

Original Story: Jornal de Negócios – Rafaela Burd Relvas / Nuno Carregueiro

Photo: Ali Müftüoğulları / Pexels

Translation/Summary: Richard D. Turner