The median price of the 37,854 homes sold in Portugal rose by 18.4% year-on-year in the second quarter, reaching €2,445 per square metre, according to Statistics Portugal (INE).
Compared with the first three months of the year, prices increased by 4.6%.
According to INE’s latest Local Housing Price Statistics, 37,854 housing transactions took place between April and June, down 9.0% from the same quarter in 2025, when 41,608 transactions were recorded. The number of transactions had already fallen by 10.5% in the previous quarter.
Median price rises
According to the statistics institute, median house prices increased year-on-year across all 26 NUTS III sub-regions, with the largest rises recorded in Médio Tejo (25.4%), Oeste (24.0%), Lezíria do Tejo and the Azores (both 23.9%), and the Setúbal Peninsula (22.2%).
The sub-regions of Greater Lisbon (€4,030/m²), the Algarve (€3,500/m²), the Setúbal Peninsula (€3,069/m²), Madeira (€2,816/m²) and the Porto Metropolitan Area (€2,669/m²) recorded house prices above the national median.
Among these sub-regions, the Setúbal Peninsula (22.2%) and Greater Lisbon (18.4%) stood out, as both recorded year-on-year increases equal to or above the national rate.
The Beiras and Serra da Estrela sub-region recorded the lowest median price for homes sold, at €759/m², while the smallest year-on-year increase was recorded in Terras de Trás-os-Montes, at 5.2%.
The five sub-regions with the highest median house prices – Greater Lisbon, the Algarve, the Setúbal Peninsula, Madeira and the Porto Metropolitan Area – also recorded the highest prices for both categories of buyers, based on whether their tax residence was in Portugal or abroad.
According to INE, in Greater Lisbon and the Porto Metropolitan Area, the median price per square metre of homes purchased by buyers whose tax residence was abroad was 47.0% and 37.5% higher, respectively, than the price paid by buyers whose tax residence was in Portugal.
Between July 2025 and June 2026, 156,713 homes were sold at a median price of €2,264/m², up 4.4% compared with the 12 months ending in March 2026 and 17.7% compared with the 12 months ending in June 2025.
The median house price was above the national figure in Greater Lisbon (€3,757/m²), the Algarve (€3,338/m²), the Setúbal Peninsula (€2,890/m²), the Autonomous Region of Madeira (€2,690/m²) and the Porto Metropolitan Area (€2,500/m²).
Municipalities above the national median
During the period under review, 53 municipalities recorded a median house price above the national figure. Most were located in Greater Lisbon (all nine municipalities), the Setúbal Peninsula (all nine municipalities), the Algarve (14 of 16 municipalities) and the Porto Metropolitan Area (nine of 17 municipalities).
The municipality of Lisbon recorded the highest median house price in the country, at €5,192/m². Prices also exceeded €4,000/m² in Cascais (€4,889/m²), Oeiras (€4,438/m²) and Loulé (€4,137/m²).
The Algarve, the Porto Metropolitan Area, Greater Lisbon and the Autonomous Region of Madeira recorded price differences between municipalities of more than €2,000/m².
Between July 2025 and June 2026, Lisbon recorded the highest number of home sales in the country, at 7,739. Sintra (5,934), Vila Nova de Gaia (4,955) and Porto (4,268) were the other municipalities with more than 4,000 transactions.