National Statistics Institute (INE) data shows that the median price of houses sold reached 1,629 euros per square meter (euros/m2) in the second quarter of 2023. This is a value 48% higher than that recorded four years earlier.

In several regions of the country, this increase in the price of houses sold since 2019 until today is even more significant, according to a report by idealista.

Lisbon Metropolitan Area: Here the median price stood at 2,306 euros/m2 in the second quarter, 57% more than four years earlier. In the municipality of Lisbon, this increase was less significant (+30%), with price pressure moving to several peripheral municipalities, where housing prices soared during this period, such as Moita (+99%), Barreiro (+77%), Seixal (+74%) and Setúbal (73%);

Porto Metropolitan Area: In this urban center prices have risen 61% since 2019, reaching 1,802 euros/m2. The municipality of Porto also saw house prices rise by around 50%, but there were others that increased even more, such as Espinho (+83%), Matosinhos (+69%), Gondomar (+63%), Santo Tirso (+56%) and Maia (+56%);

Algarve: Prices in the Algarve region rose 51% in four years, reaching 2,583 euros/m2 in the second quarter of 2023. The municipality of Vila do Bispo saw prices more than double in four years (+143%). And, in several municipalities, the houses were sold for much higher prices than in the past, such as Portimão (+65%), São Brás de Alportel (+65%) or Vila Real de Santo António (+62%);

Autonomous Region of Madeira: Homes sold between April and June 2023 were 58% more expensive than in the same period in 2019, with the median price being set at 1,916 euros/m2. In Funchal, the increase was 66%.