According to data released by the idealista price index, the average cost per square meter (m2) for purchasing housing in the region reached 3,251 euros at the end of December 2023.

Find out which municipalities are the cheapest, and most expensive, in the region.

Analysing by municipalities, prices in the region showed an increase in Faro (12.7%), Albufeira (10.1%), Silves (9.1%), Vila do Bispo (8%), Olhão (7.6% ), Lagos (7.5%), Portimão (7.3%), Vila Real de Santo António (7%), Tavira (6.8%), São Brás de Alportel (6.5%) and Loulé (6 .4%). On the other hand, prices fell in Alcoutim (-6.6%), Monchique (-0.6%) and Lagoa (-0.6%).

The most expensive municipality to buy a house in is Loulé (3,956 euros/m2), followed by Lagos (3,759 euros/m2) and Vila do Bispo (3,726 euros/m2). Next are Albufeira (3,321 euros/m2), Lagoa (3,315 euros/m2), Tavira (3,012 euros/m2), Faro (2,897 euros/m2), Vila Real de Santo António (2,758 euros/m2), Silves (2,757 euros/m2) and Olhão (2,733 euros/m2).

On the other hand, the most economical municipalities are Alcoutim (778 euros/m2), Monchique (2,238 euros/m2), São Brás de Alportel (2,408 euros/m2) and Portimão (2,559 euros/m2).

At a national level, housing prices rose 5.3% during the same period, standing at 2,561 euros/m2.

Lisbon continues to be the city where it is most expensive to buy a house: 5,441 euros/m2. Porto (3,453 euros/m2) and Funchal (3,189 euros/m2) occupy second and third place, respectively. Next are Faro (2,897 euros/m2), Aveiro (2,495 euros/m2), Setúbal (2,258 euros/m2), Évora (2,012 euros/m2), Viana do Castelo (1,889 euros/m2), Ponta Delgada (1,875 euros /m2), Coimbra (1,825 euros/m2), Braga (1,762 euros/m2), Leiria (1,414 euros/m2) and Viseu (1,402 euros/m2). The most economical cities are Guarda (807 euros/m2), Castelo Branco (863 euros/m2), Bragança (930 euros/m2), Beja (957 euros/m2), Vila Real (1,157 euros/m2) and Santarém ( 1,186 euros/m2).