106
106

Seven Portuguese Municipalities Have Housing Prices Above 1,500 Euros/m2

30 October 2018

The data was published Tuesday by the National Statistics Institute (INE) and referred to the second quarter of 2018. In total, 38 municipalities had an average house sale price above the average for the country as a whole.

In the second quarter of 2018, seven municipalities had the highest average housing prices in the country, ​​above 1,500 euros/m2. Lisbon (2,753 euros/m2) had the highest reported prices, followed by Cascais (2,100 euros/m2), Loulé (1,846 euros/m2), Oeiras (1,819 euros/m2) ,Lagos (1.744 euros/m2), Albufeira (1.631 euros/m2) and Tavira (1,594 euros/m2), according to the INE’s data.

In the period, the average price of family housing in Portugal reached 969 euros/m2, an increase of 2% compared to previous quarter and up 8.15% over the same quarter of the previous year. The average price of housing remained above the national average in the Algarve (1,465 euros/m2), the Lisbon Metropolitan Area (1,305 euros/m2) and the Autonomous Region of Madeira (1,159 euros/m2).

The reported also noted that 38 municipalities had average housing prices above the national average, mainly in the Algarve’s sub-regions (13 municipalities) and the Lisbon Metropolitan Area (11).

For the first time, Porto had the second highest housing prices in cities with more than 100,000 inhabitants

All cities with more than 100,000 inhabitants registered a rise in house prices. Porto (+24.7%), Lisbon (+23.4%), Amadora (+15.8%), Braga (+12.3%), Funchal (+10.4%) and Vila Nova de Gaia (+10.3%) reported the most significant growth rates, compared to the same period of the previous year.

Porto stood out for the first time since the first quarter of 2016 with the second highest average family housing price (1,460 euros/m2), after Lisbon and surpassing the price in the city of Funchal (1,439 euros/m2). Vila Nova de Gaia (902 euros/m2) and Braga (738 euros/m2) had prices below the national average, as in previous quarters.

Three of the 24 parishes in Lisbon have prices above 3,500 euros/m2

The parish of Santo António had the highest average housing prices among the parishes of the capital, standing at 4,105 euros/m2, similar to the first quarter of 2018. Family housing prices also surpassed 3,500 euros/m2 in Misericórdia (3,894 euros/m2), which includes the areas of Bairro Alto and Cais do Sodré, and Santa Maria Maior (3,632 euros/m2), which covers the areas of ​​Alfama, Mouraria, Castelo and Baixa-Chiado.

Original Story: Jornal Econômico – Rodolfo Alexandre Reis

Translation: Richard Turner