The price of housing in the Algarve rose by 0,6% during the first quarter of this year, standing at 2072 euros per square meter (m2), according to the price index of the real estate portal idealistic.
the council of Faro follows the trend of the region and registers an increase of 0,6%, costing the price of 1753 euros per square meter.
The highest price increases in the region were registered in Aljezur (7,7%), followed by Olhão and Portimão (4,6% in both cases) and Vila Real de Santo António (4,5%). The most expensive municipality to buy a house is Lagos (2578 euros/m2). In second place is Loulé (2372 euros/m2).
On the other hand, the cheapest are Monchique (1223 euros/m2), Castro Marim (1578 euros/m2) and Olhão (1609 euros/m2).
In this first quarter, housing in Portugal increased by 3,3%, standing at 1849 euros/m2.
Almost all regions witnessed an increase in prices in quarterly terms, with the exception of the Center and Azores, which showed a decrease of 4,7% and 5,7%, respectively. Highlight for the North region, which saw prices grow 4,6%. They are followed, in that order, by the Autonomous Region of Madeira (3,7%), the Metropolitan Area of Lisbon (2,8%), Algarve (0,6%) and Alentejo (0,5%).
The Metropolitan Area of Lisbon with 2637 euros/m2 continues to be the most expensive region, followed by the Algarve where it costs 2072 euros/m2, North (1512 euros/m2) and Autonomous Region of Madeira (1493 euros/m2). On the opposite side of the table is the Autonomous Region of the Azores (849 euros/m2), the Center (981 euros/m2) and Alentejo (1026 euros/m2), as the cheapest regions.
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