The price of housing in the Algarve increased by 1.9% during the second quarter of 2020, standing at 2,295 euros / m2, according to the idealist price index. The increase in the last year was 6.6%.
The city of Faro follows the trend in the region and registers a 1% increase, costing the price of square meter 1,911 euros. The biggest price increase in the region was registered in Monchique (8.9%), followed by Castro Marim (4.6%) and Lagoa (4.5%). The most expensive municipality to buy a house is Loulé (2,780 euros / m2) followed by Lagos (2,675 euros / m2). In contrast, the most economical are Monchique (1,781 euros / m2), Aljezur (1,781 euros / m2) and Castro Marim (1,823 euros / m2) and Olhão (1,838 euros / m2).
In comparison with the rest of the country, housing in Portugal registered an increase of 0.5% during the same period, standing at 2,070 euros / m2.
Regions of Portugal
The regions that saw a price increase in quarterly terms were the North (2.8%) and the Algarve (1.9%). On the other hand, they fell in Alentejo (-1.6%), Autonomous Region of Madeira (-0.6%), Metropolitan Area of Lisbon (-0.3%) and Centro (-0.2%).
The Metropolitan Area of Lisbon, with 2,997 euros per m2, remains the most expensive region, followed by the Algarve (2,295 euros per m2), North (1,765 euros per m2) and the Autonomous Region of Madeira (1,557 euros per m2). On the opposite side of the table are the Alentejo (1,031 euros per m2) and the Center (1,038 euros per m2) as the cheapest regions.
Of the analyzed districts, the biggest increases took place in Porto (3.4%), Braga (2.6%), Setúbal (2.4%), Aveiro (2.2%), Faro (1.9%) and Viseu (1.7%). In the case of Coimbra, the increase was 0.7%.
On the other hand, they went down in Beja (-3%), Leiria (-1.2%), Guarda (-0.9%), Santarém (-0.6%), Madeira Island (-0.6%) . In Évora (-0.2%) and Lisbon (-0.1%) prices remained practically stable.
It should be noted that the ranking of the most expensive districts continues to be led by Lisbon (3,317 euros per m2), followed by Faro (2,295 euros per m2) and Porto (2,073 euros per m2). The cheapest prices are found in Guarda (641 euros per m2), Portalegre (645 euros per m2), Castelo Branco (696 euros per m2) and Bragança (751 euros per m2).
District capital cities
Prices increased in 14 district capitals, with Coimbra (3.9%) leading the list. Viseu (3.7%), Braga (3.1%), Évora (3%) and Vila Real (2.5%) follow. In Porto and Faro, the increases were 1.6% and 1%, respectively.
On the other hand, it was in Santarém that prices fell the most: 5.2%. Next are Beja (3.2%) and Lisbon, where the decline was 1%.
Lisbon remains the city where it is more expensive to buy a house, 4,664 euros per m2. Porto (2,876 euros per m2) and Faro (1,911 euros per m2) occupy the second and third places, respectively. The most economical cities are Guarda (637 euros per m2), Castelo Branco (731 euros per m2) and Bragança (753 euros per m2).
Taking into account the rise in the price of housing in the last 12 months, Coimbra (15.2%) leads the list, followed by Viana do Castelo (13.9%) and Évora (13%).