House prices up 5.9% in third quarter of 2016

New data shows house prices in Portugal have increased 5.9% in the third quarter of this year.

Online real estate portal Idealista reports that the country’s average price per square metre now is €1,256.

The largest increases were registered in Lisbon (+9.4%) and the north (4.7%), followed by the Algarve (+3.7%). Prices in Madeira, however, remained practically the same (+0.1%), while they fell in the Alentejo (-3.4%) and central regions (-2.1%).

Further data showed that Lisbon is still the most expensive place for Portuguese property, with the square metre price pegged at €1,587. The Algarve comes next (€1,412), followed by Madeira (€1,103), the Alentejo (€1,064) the north (€950) and the centre (€928).

Idealista’s statistics were based on 50,000 ads for property logged onto the portal between July 15 and September 15.