Portugal house prices reached a new record high in October, rising 7.5% compared with the same month last year, as the cost of buying residential property continued to increase across the country.
According to the latest figures from property platform Idealista, the median asking price for homes for sale stood at 3,249 euros per square metre at the end of October. This represents a 1.2% increase compared with the previous quarter and marks another monthly milestone in Portugal’s rising property market.
The increase was recorded across all 20 district capitals and autonomous regions included in the report. However, some cities experienced considerably stronger annual growth than others, with Vila Real recording the largest increase at 20.3%.
Guarda followed with an annual rise of 18.4%, while Beja recorded 17.6%. Leiria saw prices increase by 16.9%, and Faro registered a 15.5% rise over the same period.
Despite these increases in smaller cities, Lisbon remains the most expensive place to buy a home in Portugal. The capital’s median asking price reached 6,248 euros per square metre in October, placing it well above the national figure.
Porto and Funchal followed Lisbon among the country’s most expensive cities for residential property, although their median prices remained below those recorded in the capital.
At the opposite end of the market, Castelo Branco remained the most affordable district capital for homebuyers. Its median asking price stood at 1,119 euros per square metre, highlighting the considerable difference in property costs between Portugal’s major urban centres and more affordable locations.
The regional figures also show a clear divide in housing costs. The Lisbon Metropolitan Area remained the most expensive region, with a median asking price of 4,525 euros per square metre. The Algarve and the Autonomous Region of Madeira followed, reflecting their position among Portugal’s higher-priced property markets.
The Centre region was the least expensive area to buy a home, with a median asking price of 1,810 euros per square metre.
The October figures underline how widely property prices vary across Portugal. While Lisbon continues to command the highest prices, annual increases in cities such as Vila Real, Guarda and Beja show that rising asking prices are not limited to the country’s largest property markets.
The figures are based on advertised property prices tracked by Idealista. They represent median asking prices rather than the final amounts buyers pay when a property sale is completed.
