The price of houses in the Algarve rose 4,5% in the fourth quarter of 2017. Buying a house in the district of Faro it costs, on average, 1724 euros/m2, the second highest value nationally among the regions.
According to the price index of the real estate portal idealist, in the last quarter of the year, the biggest increase in the Algarve was registered in Olhão (12%), followed by Faro (8,5%), Lagoa (5,4%) and Portimão (5,3%). On the other hand, the biggest drop was in Silves where prices dropped by 0,9%.
Of the municipalities analyzed, the most exclusive for buying a house in the Algarve is Loulé, costing a square meter of 2214 euros, followed by Lagos (2010 euros/m2) and Albufeira (1877 euros/m2).
Despite the rise in prices, the cheapest municipality in the Algarve is Olhão, with the price per square meter amounting to 1156 euros, followed by Vila Real de Santo António with 1430 euros/m2.
In the rest of the country, the price of houses in registered a rise of 5,5% during the same period, standing at 1690 euros/m2.
At the level of district capitals, the city of Faro stood out, being the second with the highest price increase in the last quarter of the year.
The capital of the Algarve registered an increase of 8,5%, while prices in Braga rose 8,6%.
Lisbon remains the district capital where it is more expensive to buy, costing 4079 euros/m2. Then comes Porto (2256 euros/m2) and Funchal (1.641 euros/m2).
On the other hand, the capitals with the cheapest prices are Bragança (660 euros/m2), Portalegre and Guarda (724 euros/m2 in both cases).
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