The prices for the purchase of residential property in Portugal increased by 0.5% in May 2022 and by 7.3% year on year. The average cost of buying a home was 2,360 € per m².
Regions with the highest cost of residential real estate:
Lisbon – €3,414 per m²;
Algarve – €2,744 per m²;
Madeira – €2,068 per m².
€2,360 per m²
The cost of buying a home in Portugal in May 2022
The Azores are the region with the lowest home prices. The average cost of residential real estate there is €1,149 per m². However, prices rose by 3.7% in May, more than in any other region of Portugal.
Lisbon remains the city with the highest housing prices at €5,011 per m². Lisbon is followed by Porto and Funchal, where property costs €3,057 and €2,308 per m² respectively.
In Braga, Viseu and Beja real estate in May rose more than in other cities of Portugal, the growth rate ranged from 3.4 to 4.3%.
The cost of buying a home in the cities of Portugal in May 2022
Source: Idealista
The cost of renting housing increased by 1.2% in May 2022 and amounted to €11.2 per m² on average in the country. This means that renting a two-bedroom apartment of 85 m² will cost €952 per month.
Utilities are usually not included in the rental price, they are paid extra. For apartments with an area of 85 m², the amount of utility bills will be from €75 to €170 per month, depending on the season and region of Portugal.
€11.2 per m²
The cost of renting a house in Portugal in May 2022
In the major cities of the regions of Lisbon and Algarve - the highest prices for rental property. In Lisbon, the average rental price per 1 m² will be €14.2, in Cascais - €13.9. In the coastal cities of the Algarve - Laul and Lagos - €12.9 and €12.4, respectively.
The cost of renting housing in the cities of Portugal in May 2022
Source: Idealista
