House prices in Portugal rise 6.4% in December 2022 – Real Estate
House prices rose 6.4% in December 2022, compared to the same month last year, according to data released by the idealista portal and taking into account the platform’s property list. At the end of December, buying a house had a median cost of 2,475 euros per square meter.
This scenario of increase is visible in almost the entire national territory, as houses became more expensive in 19 district capitals in 2022, with Évora leading the rise, with prices jumping 37.5%. In Lisbon, house prices rose by 3.1% and in Porto by 7.4% over the same period.
In terms of monthly and quarterly variation, house prices in Portugal rose by 0.6% and 3.6%, respectively. In addition to Évora, the biggest increases in the district capitals were registered in Ponta Delgada (36.4%), Funchal (25.9%) and Santarém (21.2%). Prices only went down to the sound of Portalegre (-1.7%).
Lisbon remains the most expensive city to buy a house, with residents having to pay a median of 5,147 euros per square meter, followed by Porto, at a cream 3,238 euros per square meter and Funchal with 2,656 euros per square meter.
The cheapest cities are Portalegre (669 euros/m2), Guarda (799 euros/m2) and Castelo Branco (810 euros/m2).
In district terms, prices only decreased in Castelo Branco (-2.2%).
With regard to regions – house prices rose in all regions – the Alentejo led the way (27.3%), followed by the Autonomous Region of Madeira (25.4%) and the Autonomous Region of the Azores (24.1% ).
The Lisbon Metropolitan Area, with 3,466 euros/m2, continues to be the most expensive region to purchase housing, followed by the Algarve (3,063 euros/m2), Autonomous Region of Madeira (2,389 euros/m2) and the north (2,054 euros/m2 ) ).