The average price of the 37,854 family homes sold in Portugal rose by 18.4% in the second quarter of 2026, compared with the same period last year, to €2,445per square metre (Euro/m²), INE National Statistics Institute (INE) reports today.
Against a febrile backdrop of protests and political recriminations, the increase was 4.6% compared with the first three months of the year.
According to INE’s latest “Local-Level Housing Price Statistics” for April to June, the 37,854 house sales represent a 9% fall compared with the same quarter of 2025, when 41,608 transactions took place.
In the previous quarter, this figure had also fallen, by 10.5%.
Prices rise in all sub-regions
INE data shows that the median house price increased, compared with the same period in 2025, across all 26 NUTS III sub-regions, with the Médio Tejo (25.4%), Oeste (24%, Lezíria do Tejo and the Azores (both 23.9%) and the Setúbal Peninsula (22.2%) sub-regions standing out.
The sub-regions of Greater Lisbon (€4,030 per m²), the Algarve (€3,500 per m²), the Setúbal Peninsula (€3,069 per m²), Madeira (€2,816 per m²) and the Porto Metropolitan Area (€2,669 per m²) recorded housing prices higher than the national average.
Of these sub-regions, the Setúbal Peninsula (22.2%) and Greater Lisbon (18.4%) stood out, as they also recorded year-on-year rates of change equal to or higher than the national average.
The Beiras and Serra da Estrela sub-region, meanwhile, recorded the lowest median sale price for family homes (€759 per m²), while the smallest year-on-year change was recorded in Terras de Trás-os-Montes (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 figures in both categories of buyer’s tax residence (domestic and foreign).
According to INE, in the Greater Lisbon and Porto Metropolitan Area sub-regions, the median price (€/m²) of transactions carried out by buyers with tax residence abroad exceeded, by 47% and 37.5% respectively, the price of transactions by buyers with tax residence in Portugal.
Taking the period between July 2025 and June 2026 as a reference, the 156,713 sales of family homes had a median price of €2,264 per m², up 4.4% compared with the year ending in March 2026 and 17.7% compared with the year ending in June 2025.
The median house price was higher than the national average in the sub-regions of Greater Lisbon (€3,757 per m²), the Algarve (€3,338 per m²), the Setúbal Peninsula (€2,890 euros per m²) and the Autonomous Region of Madeira (€2,690 per m²) and the Porto Metropolitan Area (€2,500 per m²).
During the period under review, 53 municipalities recorded a median price higher than the national average, located mainly in the Greater Lisbon sub-regions (all nine municipalities), the Setúbal Peninsula (all nine municipalities), the Algarve (14 of the 16 municipalities) and the Porto Metropolitan Area (nine of the 17 municipalities).
Lisbon is the most expensive municipality in which to buy a home
The municipality of Lisbon (€5,192 per m²) recorded the highest price in the country. Prices exceeding €4,000 per m² were also recorded in Cascais (€4,889 ), Oeiras (€4,438) and Loulé (€4,137).
The Algarve, the Porto Metropolitan Area, Greater Lisbon and the Autonomous Region of Madeira showed price differences between municipalities of more than €2,000 per m².
Between July 2025 and June 2026, the municipality of Lisbon recorded the highest number of family home sales in the country (7,739). With over 4,000 sales, the municipalities of Sintra (5,934), Vila Nova de Gaia (4,955) and Porto (4,268) stood out.
Source: LUSA