The Surprisingly Expensive Portugal House Prices for 2024

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The average house price in Portugal is $264 per square foot in 2024, averaging $528,000 for a 2,000-square-foot home. Buying a house in Portugal in 2024 is 6% more expensive than one year prior. Due to an increase in demand in recent years, Portugal real estate prices are now more expensive than Spain home prices. Home prices in Portugal are also higher than real estate prices in Italy.

Portugal house prices by region, in US dollars

The most expensive region to buy a house in Portugal is Metropolitan Lisbon, where the average price of a home is $732,000, or $366 per sqft. The second most expensive region to buy real estate is Algarve, where a 2,000-square-foot home sells for $670,000 on average. In this region, real estate saw an annual price increase of 8% and the average price per sqft is $335.

Centro is Portugal’s most affordable region to purchase property, at $145 per square foot, which comes to $290,000 for an average-sized home. In this region, the cost to buy a home went up by 6.8% in a year.

Homes in Madeira registered the highest increase in price year over year, 21.6%, reaching an average sale price of $596,000.

Portugal Aveiro real estate

Portugal real estate prices by city, in US dollars

At the city level, prices vary considerably, depending on location. The most in-demand cities to live in Portugal have the priciest homes.

Lisbon real estate is the most expensive among the 100 largest Portuguese cities, a house costing on average $1,128,000, or $564 per square foot. Other expensive cities in Portugal to buy a house are: Lagos $770,000, Porto $714,000, and Albufeira $678,000.

Here are the average home prices in Portugal’s 10 largest cities: 

  1. Lisbon, Lisbon Metropolitan $1,128,000
  2. Porto, North $714,000
  3. Vila Nova de Gaia, North $488,000
  4. Amadora, Lisbon Metropolitan $538,000
  5. Braga, North $362,000
  6. Coimbra, Center $376,000
  7. Funchal, Madeira $660,000
  8. Setubal, Lisbon Metropolitan $464,000
  9. Almada, Lisbon Metropolitan $562,000
  10. Sintra, Lisbon Metropolitan $492,000

 

Real Estate Prices in Portugal in Euros

An average house in the region of Metropolitan Lisbon costs around €715,000, with a price per square meter of €3,579, the most expensive region in Portugal to purchase real estate.

In the Algarve, homes cost around €650,000, in the Madeira islands about €580,000, and in the Northern region of Portugal €426,000.

For cheaper property, the Central Region is the best place to look, with average prices around €280,000. Similarly, Azores real estate averages more or less €296,000 for a 200-sqm house.

 

Portugal real estate prices by city, in euros

The most expensive large city to buy property in Portugal is Lisbon. The average price of a house in the capital city is €1,103,200, or €5,516 per square meter.

Of the 100 largest cities in Portugal analyzed, the second priciest real estate is in Loule, with an average house price of €797,800, and the third most expensive is Lagos, €753,200.

The average price of a 200-square-meter house in other major Portuguese cities: Porto €698,800, Braga €355,200, Coimbra €367,800, Faro €584,000, and Funchal €645,600.

Moving to Portugal is a big decision that requires a lot of advance preparation. From understanding the cost of housing, choosing the best area to live in, to hiring the right Portugal international relocation services, it takes time and research to achieve your dream.

Methodology

  • When using or citing this data, please give credit to My Dolce Casa by linking to this report
  • Source: Idealista valid as of the date of this report
  • Original prices published in euros per square meter
  • Euros converted to U.S. dollars at an exchange rate valid as of the date of this report
  • Square meters converted to square feet

This article originally appeared on MyDolceCasa and was syndicated by MediaFeed.

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