The price of houses in the Algarve rose 5,9% in the second quarter of this year (April, May and June), standing at 1916 euros, per square meter (m2), according to the price index of the real estate portal idealistic.
Faro follows the trend of the region and registers an increase of 1,7%, costing the price of 1706 euros per square meter.
The biggest price rise in the region was registered in Vila Real de Santo António (11,4%), followed by Silves (7,8%) and Olhão (6,6%). The most expensive municipality to buy a house is Loulé (2430 euros/m2). On the other hand, the cheapest are Silves (1499 euros/m2), Olhão (1301 euros/m2) and São Brás de Alportel (1233 euros/m2).
In comparison with the rest of the country, housing in Portugal increased by 6,4% during the same period, reaching 1867 euros/m2.
All regions saw a price increase in quarterly terms, with the North region standing out, which saw prices grow 8%. Next, in this order, are the regions Lisbon and Algarve (both 5,9%), Alentejo (4,2%), Autonomous Region of Madeira and Centro (both 3,5%).
Lisbon with 2629 euros/m2 is still the most expensive region, followed by the Algarve where the square meter costs 1916 euros and Madeira (1.546 euros/m2). On the opposite side of the table is the Center (996 euros/m2), Alentejo (1.129 euros/m2) and the North (1.420 euros/m2), as the cheapest regions.
Prices rose in 17 districts – among 20 analyzed, including Madeira (island) and Porto Santo (island) – with the largest increases taking place in Leiria (11,8%), Porto (8,3%), Guarda (8,2%) and Viseu (6,6%). In the case of Lisbon, the increase was 4,9%.
On the other hand, they decreased in Bragança (-6,8%), Santarém (-3,1%) and Castelo Branco (-0,9%).
The ranking of the most expensive districts continues to be led by Lisbon (3067 euros/m2), followed by Faro (1916 euros/m2) and Porto (1649 euros/m2). The cheapest prices are in Guarda (648 euros/m2), Bragança (675 euros/m2) and Castelo Branco where it costs 678 euros/m2.
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