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House prices in Portugal rise 7.5%

It’s one of the New Year price increases that should bring a smile to any faces hoping to sell their properties this year. Idealista property website reports that house prices in Portugal have risen in total by 7.5%, putting the price per square metre at €1.351.

Rise per region vary, with the Algarve registering a 3.5% rise during the last quarter of 2016, which makes takes the regional cost per square metre up to €1.457.

Idealista stresses these prices are for ‘used properties’, not new-builds, while the only regions that did not show price increases were the centre, Alentejo and Madeira.

Lisbon remains the most expensive area in which to buy homes, with prices there increasing by a whopping 12.1% – translating into €2,042 per square metre – while the centre has actually lost ground (dropping by 4.1%, and now averaging out at only €0.89 per square metre).

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