HOUSE PRICE INCREASES 5,9% IN PORTUGAL IN 2020

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Portuguese real estate sector is resilient to the pandemic crisis. Any expected drop in this market has not yet happened, with a 5,9% increase in house prices in Portugal during the pandemic. Thus, and more especially during year 2020, the first quarter registered a price increase of 1,6% in the second quarter the value was around 0,5%, in the third quarter it was fixed at 1% and in the fourth quarter it rose to 2,7%.

In a more detailed analysis of the country, it is possible to see the places where this increase was more significant, indicate the current values per m2, name the most expensive cities to buy a house in Portugal and simultaneously the cities where prices are more accessible in terms of real estate.

Price increase by Regions

The biggest increase was registered in the North Region, with 10.6% The Autonomus Regions of the Azores and Madeira are in second and third place with 8,8% and 7,8% respectively. The Algarve also registered a significant increase of 7,2%.

Price increase by Districts

If we evaluate the situation by Districts, we see the following impacts: 

Most expensive regions

The Metropolitan Area of Lisbon remains the most expensive region in the country with a value per m2 of 3.017 EUR, followed by the Algarve with 2.368 EUR/m2, the North Region with 1.834 EUR/m2 and Madeira 1.678 EUR/m2.

Most economical regions

The most accessible regions are Azores with 999 EUR/m2, Alentejo with 1.024 EUR/m2 and the Centro Region with 1.105 EUR/m2.

Most expensive cities

Lisbon remains the city where it is most expensive to buy a house. The value per m2 is 4.678 EUR. It is followed by Porto (2.949 EUR/m2) and in third place we find Faro (1.995 EUR/m2).

Most economical cities

Guarda (628 EUR/m2), Portalerge (644 EUR/m2); Castelo Branco (695 EUR/m2) and Braganca (761 EUR/m2) lead this ranking.

With the year 2021 starting with new restrictive measures very similar to those seen at the beginning of the pandemic, it will be necessary to wait and check whether the trend of price increases continues or, if on the contrary, there will be changes at this level in the real estate sector.

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