Loulé stands out as the Algarve municipality with the highest price per square metre. This municipality is known for being home to some of the most famous beaches in the Algarve, such as Quinta do Lago, Ancão, and Vale do Lobo, and also to luxury resorts.
According to data from the National Statistics Institute (INE), only two municipalities in the Algarve have housing prices below the national median (1,611 euros/m2): Alcoutim (795 euros/m2) and Monchique (1,057 euros/m2). Both are located in the interior of the region and do not have direct access to ocean beaches. Therefore, it is possible to buy a 100 m2 house for less than 110 thousand euros in these locations.
São Brás de Alportel stands out as the third most accessible municipality for buying houses in the Algarve, with an average price of 1,843 euros per square meter. In 2023, a 100 square metre house was sold for a median value of more than 180 thousand euros in this municipality.
Despite the disparities in prices, these are the three municipalities where buying a house is most affordable in the Algarve region. However, none of them were among the 50 most popular municipalities to purchase housing between October and December last year. Likewise, the three most expensive municipalities – Loulé (3,269 euros/m2), Lagos (3,182 euros/m2) and Vila do Bispo (3,162 euros/m2) – are also not among the most sought after. In these areas, a 100 square meter house was sold for a median value of more than 300 thousand euros.
Only eight of the 16 municipalities in the Algarve are among the most researched to purchase housing at the end of 2023. Vila Real de Santo António was the most sought after, despite being in 24th position in the general ranking, with a median cost of 2,311 euros/ m2 last year, according to INE.
The list of the most sought-after municipalities in the Algarve also includes Portimão, Silves, Albufeira, Tavira, Lagoa, and Castro Marim, where the price of 100 square metre houses varied between 215 thousand and 283 thousand euros during the last year.
Faro was the least sought-after municipality of all, despite the cost of houses sold being in the middle of the Algarve table (2,315 euros/m2), unlike Lisbon and Porto, which top the list of the most expensive municipalities to buy a house in each metropolis.