Monchique, Lagos and Aljezur record the biggest rise in house prices in the Algarve

buy house in Faro costs 2.917 euros/m2, Loulé (3.898 euros/m2) is the most expensive municipality in the region to buy a house

Monchique – Elisabete Rodrigues | Sul Informação

Monchique (3,5%), Lagos (1,9%), Aljezur (1,7%) are the three municipalities in the Algarve where there was the biggest increase in house prices in the region, in the month of August, according to the index of idealista prices.

This index adds that the price of houses in the Algarve rose 1,2% in August compared to the previous month. Buying a house cost 3.215 euros per square meter (euros/m2) at the end of August this year, taking into account the median value. In relation to the quarterly variation, the increase was 1,8% and the annual increase was 13%.

Analyzing by municipalities, prices in the region showed an increase in Monchique (3,5%), Lagos (1,9%), Aljezur (1,7%), Loulé (1,7%), São Brás de Alportel (1,3 .1%), Albufeira (0,7%), Lagoa (0,6%), Portimão (0,6%) and Silves (0,1%). Prices remained stable in Olhão (XNUMX%), Faro (0%), Alcoutim (0%) and Tavira (-0,2%).

Conversely, prices only fell in Castro Marim (-4%), Vila do Bispo (-1,2%) and Vila Real de Santo António (-1,2%).

The most expensive municipality to buy a house is Loulé (3.898 euros/m2), followed by Lagos (3.643 euros/m2) and Aljezur (3.592 euros/m2).

Next are Vila do Bispo (3.586 euros/m2), Lagoa (3,572 euros/m2), Albufeira (3.294 euros/m2), Castro Marim (2.933 euros/m2), Faro (2.917 euros/m2), Tavira (2.894 euros/m2), Silves (2.873 euros/m2) and Vila Real de Santo António (2.805 euros/m2).

On the other hand, the most economical ones are in Alcoutim (753 euros/m2), São Brás de Alportel (2.335 euros/m2), Monchique (2.372 euros/m2), Portimão (2.499 euros/m2) and Olhão (2.718 euros/m2) .

At a national level, housing prices remained stable during the same period, standing at 2.526 euros/m2.


District capital cities

House prices in August rose in 11 district capitals, with Viseu (3,5%), Leiria (3,4%) and Ponta Delgada (3,2%) topping the list. Next are Beja (2%), Braga (1,8%), Bragança (1,6%), Guarda (1%), Coimbra (0,8%), Setúbal (0,8%), Viana do Castelo (0,7%) and Funchal (0,6%). Prices remained stable in Faro (0%), Castelo Branco (-0,2%), Lisbon (-0,3%) and Santarém (-0,4%).

On the other hand, prices fell in Évora (-7,7%), Vila Real (-6,8%), Aveiro (-2,2%), Portalegre (-0,7%) and Porto (-0,6. XNUMX%).

Lisbon continues to be the city where it is most expensive to buy a house: 5.333 euros/m2. Porto (3.419 euros/m2) and Funchal (2.996 euros/m2) occupy second and third place, respectively. Follow Faro (2.917 euros/m2), Aveiro (2.480 euros/m2), Setúbal (2.327 euros/m2), Évora (2.035 euros/m2), Viana do Castelo (1.962 euros/m2), Coimbra (1.824 euros/m2), Braga (1.732 euros/m2), Ponta Delgada (1.728 euros/m2), Viseu (1.368 euros/m2) and Leiria (1.355 euros/m2).

The most economical cities are Portalegre (723 euros/m2), Guarda (728 euros/m2), Castelo Branco (810 euros/m2), Bragança (908 euros/m2), Beja (944 euros/m2), Santarém (1.124 euros/m2) and Vila Real (1.269 euros/m2).

Analyzing by districts and islands, the biggest price increases took place on the island of São Jorge, in the Azores (8,6%), Viseu (3,9%) and the island of Porto Santo, in Madeira (3,2%).

Next are the Azorean islands of Pico (3,2%) and São Miguel (2,3%), Leiria (2%), Santarém (1,5%), Setúbal (1,3%), Braga (1,3, XNUMX%), Faro (1,2%) and Madeira Island (0,7%).

Prices remained stable during the month of August in the district of Bragança (0,3%), Beja (0%), Faial island (-0,1%), Aveiro (-0,2%) and Terceira island (-0,4%).

On the other hand, prices fell in Évora (-7,5%), Castelo Branco (-6,7%), Vila Real (-2,2%), Guarda (-2,2%), Coimbra (-0,9 .0,9%), Porto (-0,6%) and Viana do Castelo (-0,5%), Lisbon and Portalegre (both districts recorded drops of -XNUMX%).

The ranking of the most expensive districts to buy a house is led by Lisbon (3.840 euros/m2), followed by Faro (3.215 euros/m2), Madeira island (2.634 euros/m2), Setúbal (2.465 euros/m2), Porto (2.460 euros/m2), Porto Santo island (2.034 euros/m2), Aveiro (1.687 euros/m2 ), Leiria (1.554 euros/m2), São Miguel island (1.533 euros/m2), Braga (1.528 euros/m2), Viana do Castelo (1.509 euros/m2), Coimbra (1.392 euros/m2), Pico island (1.333 euros/m2), Évora (1.329 euros/m2), Faial island (1.308 euros/m2), São Jorge island (1.148 euros/m2), Terceira island (1.113 euros/m2) and Santarém (1.096 euros/m2) mXNUMX).

The most economical prices are in Guarda (654 euros/m2), Portalegre (699 euros/m2), Castelo Branco (791 euros/m2), Bragança (850 euros/m2), Vila Real (958 euros/m2), Viseu (1.033 euros/m2) and Beja (1.048 euros/m2).


The regions where prices rose the most

During the month of August, house prices rose in four regions of the country. Leading the rises is the Autonomous Region of the Azores (1,5%), followed by the Algarve (1,2%), Autonomous Region of Madeira (0,7%) and Alentejo (0,6%).

Conversely, in the North prices fell by 1,2%. In the Center (0,1%) and Metropolitan Area of ​​Lisbon (-0,3%) prices remained stable during this period.

The Lisbon Metropolitan Area, with 3.480 euros/m2, continues to be the most expensive region to purchase housing, followed by the Algarve (3.215 euros/m2), Autonomous Region of Madeira (2.624 euros/m2) and North (2.082 euros/m2 ).

On the opposite side of the table are the Autonomous Region of the Azores (1.366 euros/m2), the Center (1.402 euros/m2) and Alentejo (1.598 euros/m2) which are the cheapest regions to buy a house.


idealista property price index

To create the idealista property price index, the offer prices (based on built square meters) published by idealista advertisers are analyzed. Atypical advertisements and those with out-of-market prices are eliminated from the statistics.

We also include the “single-family houses” typology and discard all ads that are in our database and that have not been interacted with by users for some time. The final result is obtained through the median of all valid advertisements in each market.