House prices increase by 3.8% in Portugal over last three months

More good news on the property front: house prices nationally continue to climb with Lisbon and the Algarve leading the way.

The latest list of prices compiled by property website Idealista shows that prices over the last three months have increased by a national average of 3.8%.

“All regions have shown increases in relation to the first quarter of 2017”, says the site – the most significant being registered Madeira and the Alentejo (8.5% and 7.8% respectively), followed by Lisbon (4.6%).

Lesser numbers came in from the Algarve and the North (2.9% in both), and the centre of the country (2.6%) – but this doesn’t alter the fact the prices in Lisbon, the Algarve and Madeira are still the highest proportionally.

For example, whereas the national average price per square metre is 1497 euros, the average price for a property in the Lisbon area is 2050 euros (increasing to 3744 euros in capital’s centre), followed by the Algarve (1599 euros), and Madeira (1273 euros).

Cheapest areas for homebuyers remain the centre (where square metre prices average out at 939 euros), Alentejo (1074 euros), and north (1081 euros).

Bizarrely, however, three districts have dropped in popularity: Beja (down by 5.9%) and Évora and Guarda (both dipping by 2.9%).

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