In October, the average price of housing in Portugal was €2,500sqm, which was up 0.3% compared to September and 4.8% higher compared to October 2022, according to data from Idealista.

Lisbon is still the most expensive city to buy a house, costing €5,400sqm, followed by Porto (€3,390sqm), Funchal (€3,110sqm), and Faro (€2,920sqm).

By districts/islands, the biggest increases in October were seen in the island of São Jorge (6.3%), Guarda (3.7%), Pico island (3.5%), and Madeira island (2.2 %).

By region, there were increases in October in the Autonomous Region of Madeira (2.2%), Autonomous Region of the Azores (1%), Metropolitan Area of ​​Lisbon (0.6%), North (0.5%), Algarve (0.3%), Center (0.4%), and a drop of 3.1% in Alentejo (-3.1%).

Idealista stated: “The Lisbon Metropolitan Area, with €3,500sqm, continues to be the most expensive region to purchase housing, followed by the Algarve (€3,200sqm), and the Autonomous Region of Madeira (€2,770sqm). On the opposite side of the table are the Center (€1,370sqm), the Autonomous Region of the Azores (€1,390sqm) and Alentejo (€1,497sqm) which are the cheapest regions to buy a house.”