The most recent data from idealista reveals that Lisbon and Setúbal are the most sought-after districts of all for those searching for houses for sale for more than 1 million euros.

Although Lisbon, Porto and Faro account for more than half of the supply, all Portuguese districts and islands have at least one luxury home for sale. There were 21,000 properties priced over one million euros at the end of 2024, up 23% compared to a year ago and the highest value recorded since 2019 on idealista.

This movement has been accompanied by a significant interest in luxury homes for purchase. Although demand growth has not been linear (tending to fall at the end of each year), in the last three months of 2024 the search for premium housing was at one of the highest levels in the last six years.

The greatest demand for exclusive residences of all was recorded in the first three months of 2023 when the end of golden visas for real estate investment was announced by the former socialist government of António Costa in its Mais Habitação package. When the measure came into effect in October, there was an annual drop of 10% and a quarterly drop of almost 22%.

Data from idealista therefore suggests that Portuguese and foreigners interested in homes priced at over 1 million euros prefer to live or invest in a second home close to the hustle and bustle of the capital, where there is a greater supply of jobs, as well as culture and leisure - in addition to the greater proximity to Lisbon international airport.

There is also a high demand for premium homes to buy on the island of São Miguel (Azores), in Leiria and in Santarém in relation to the other territories analysed.

The Porto district is in the middle of the table, arousing moderate interest from those searching for houses costing more than 1 million euros.

Among the areas of the country where demand for luxury homes was lower at the end of 2024 are Faro and the island of Madeira. And the same data reveals that demand in both territories has been falling in recent years, after reaching peaks in Madeira at the end of 2021 and in Faro at the beginning of 2023.

At the bottom of the table are the districts of Viana do Castelo and Portalegre, quieter places to live, whether by the sea or in the interior of the country. Here the supply of luxury homes for sale is also small, with just 23 properties in Portalegre and 91 in Viana do Castelo at the end of last year.