The price of housing in the Algarve increased by 2.1% during the third quarter of 2020, standing at 2,343 euros / m2, according to the idealist price index.
The variation during the last 3 months was 1.1%.
The city of Faro follows the trend of the region and registers a 6.6% increase, costing the price of 1,995 euros per square meter. The biggest price increase in the region was recorded in Loulé (12.1%), followed by Vila do Bispo (10.4%), Olhão (10.4%), Monchique (9.6%), Alcoutim (8 , 6%), Albufeira (7.9%) and Portimão (6.85). In Lagoa the increase was 6.6% and in Vila Real de Santo António 4.8%. On the other hand, Lagos was the only city in the Algarve that registered a drop in its prices, -0.6%.
The most expensive municipality to buy a house is Loulé (2,894 euros / m2), followed by Lagos (2,621 euros / m2). In contrast, the most economical are Monchique (1,709 euros / m2), São Brás de Alportel (1,841 euros / m2), Silves (1,898 euros / m2) and Olhão (1,924 euros / m2).
In comparison with the rest of the country, housing in Portugal increased by 5.9% during the same period, standing at 2,147 euros / m2.
Regions of Portugal
All regions saw a price increase in 2020. The biggest increase of the year was recorded in the North, where prices increased by 10.6%. This is followed by the Autonomous Region of the Azores (8.8%), the Autonomous Region of Madeira (7.8%), the Algarve (7.2%) and the Center (5.7%). The lowest increases were in Alentejo (0.7%) and in the Metropolitan Area of Lisbon (2.6%).
The Metropolitan Area of Lisbon, with 3,017 euros per m2, remains the most expensive region, followed by the Algarve (2,368 euros per m2), the North (1,834 euros per m2) and the Autonomous Region of Madeira (1,678 euros per m2). On the opposite side of the table are the Autonomous Region of the Azores (999 euros per m2), the Alentejo (1,024 euros per m2) and the Center (1,105 euros per m2), which are the cheapest regions.
Districts / Islands
Of the districts analyzed, the largest increases in 2020 took place in Vila Real (16.7%), Viseu (14.2%), Aveiro (14.1%), Porto (11.6%), Coimbra (11.3% %), Braga (10.4%) and Setúbal (10%). Next on the list are São Miguel Island (9.5%), Madeira Island (7.8%), Faro (7.2%), Viana do Castelo (4.6%), Santarém (4, 3%), Porto Santo Island (4.2%) and Lisbon (2.2%). The districts where prices rose the least were Portalegre (1.4%), Bragança (1.5%), Castelo Branco (1.7%) and Évora (1.8%).
On the other hand, they fell in Guarda (-6.7%), Leiria (-6%) and Beja (-2.9%).
It should be noted that the ranking of the most expensive districts continues to be led by Lisbon (3,346 euros per m2), followed by Faro (2,368 euros per m2) and Porto (2,140 euros per m2). The cheapest prices are found in Guarda (628 euros per m2), Portalegre (644 euros per m2), Castelo Branco (695 euros per m2) and Bragança (761 euros per m2).
District capital cities
Prices increased in 18 district capitals, with Viseu (23%) leading the list. Next are Coimbra (13.7%), Braga (12.6%), Castelo Branco (10.5%), Évora (9.8%), Guarda (9.6%), Setúbal (9.4%) ), Aveiro (7.5%), Faro (6.6%), Porto (6.1%), and Funchal (5.7%). The less pronounced increases were registered in Viana do Castelo (3.9%), Leiria (3.2%), Santarém (1.7%), Lisbon (1.5%) and Bragança (0.8%).
On the other hand, prices only decreased in Portalegre and Beja: -9.4% and 1.2% respectively.
Lisbon remains the city where it is most expensive to buy a house: 4,678 euros per m2. Porto (2,949 euros per m2) and Faro (1,995 euros per m2) occupy the second and third places, respectively. The most economical cities are Portalegre (656 euros per m2), Guarda (749 euros per m2), Castelo Branco (764 euros per m2) and Bragança (771 euros per m2).