The price of houses in the Algarve rose 6% during the third quarter of this year, now standing at 2031 euros per square meter (m2), according to the price index of the property portal Idealista.
The city of 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).
All regions saw a price increase in quarterly terms. The highlight goes «to the North region, which saw prices grow 8%», according to the idealist.
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 it costs 1916 euros/m2 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.
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