Real estate prices in Portugal continue to rise and Lisbon continues to grow, as does Porto. In the third quarter of last year, the average value of homes sold in Portugal increased by 7% compared to the same period of the previous year, reaching an average of 1,054 euros per square meter. Since the crisis that hit Portugal hard, real estate prices continue to break records and some even speak of speculative bubbles about to explode. According to figures published by the INE (Instituto Nacional de Estatística), some districts have seen an increase of almost 40%, but some areas have seen their prices drop, especially in Lisbon! What is the price of real estate in Portugal? What are the cheapest areas to buy a house? Lisbob, the expatriate assistant in Portugal, gives you this map of property prices in Lisbon and Porto.
Map of real estate prices in Lisbon and Porto
Real estate prices keep increasing in Portugal and Lisbon
The purchase of a house in Lisbon cost, between July and September of last year, 3.205 euros per square meter, or 11.4 % more than the previous year. The Portuguese capital therefore naturally remains the most expensive city in the country to live in. The Santo António district is the most expensive, with a value of 4,889 euros per square meter, while Santa Clara presents itself as the cheapest (2,090 euros per square meter). However, in terms of price developments, the scenario changes.
Prices increased the most in Marvila: + 47.6% to 2,845 euros per square meter. This performance can be explained by the sale of apartments to Prata Riversidade Village, a development by VIC Properties on the edge of the Tagus. Contrary to the upward trend in most areas of the capital, there was one where housing prices fell. It is in Lumiar, in the Alta de Lisboa, that prices fell by 1.3% to reach an average of 2,596 euros per square meter, specifies the INE.
The most expensive districts in Lisbon :
Santo Antonio: 4,889 € / m2
Misericordia: 4,574 € / m2
Santa Maria Maior: 4,451 € / m2
The cheapest districts in Lisbon:
Santa Clara: 2,090 € / m2
Olivais: 2,400 € / m2
Beato: 2,832 € / m2
Here is the map of real estate prices in Lisbon for each district :
Real estate prices in Lisbon
Map taken from the website Sapo
Prices increase even more in Porto, Bonfim flirts with 40%
In Porto prices have increased faster this time than in Lisbon. While in capital the increase was 11%, in the city “Invicta” this increase was 18.2% and the square meter already costs 1,802 euros, according to the INE. However, it is still much cheaper to buy a house in Porto than in Lisbon (3,205 euros per square meter).
For those who plan to buy a house, you should know that it is in the Union of the parishes of Aldoar, Foz do Douro and Nevogilde that the prices are higher. In this area, the square meter already costs 2,414 euros, up 7.3%. The most economical area is Campanhã, which remains the cheapest parish in Porto, with a square meter costing 1,170 euros, but having increased by 18.7%, more than the city average.
However, and as in Lisbon, by analyzing the evolution of these values, the scenario also changes. The biggest increase took place in Bonfim, where prices rose 39.4% to 1,839 euros per square meter, while the most discreet increase took place in the parish union of Aldoar, Foz do Douro and Nevogilde (the most expensive parish on the climb).
