Bank Housing Valuation Soars 17.7% in September, Reaching Almost €2,000/m2
The median value of bank housing valuations in Portugal registered a significant increase in September, reaching 1,995 euros per square meter. This figure represents a year-on-year jump of 17.7% and an increase of 30 euros compared to August, according to data released by the National Statistics Institute (INE). In just one year, the median has approached the €2,000/m2 threshold, a movement that confirms the structural pressure on the national real estate market.
Regional analysis reveals distinct dynamics. The Setúbal Peninsula stood out with the largest year-on-year growth, registering an increase of 25.9%. The Azores, in turn, showed the largest monthly rise, at 2.9%. In the apartment segment, the median rose to €2,307/m2, corresponding to a growth of 22.6% in one year. Greater Lisbon led this segment with €3,025/m2, closely followed by the Algarve, with €2,740/m2. The Central region remained the most affordable for apartments, with a median of €1,512/m2.
Regarding houses, the median was set at €1,459/m2, an increase of 12.1%. Lisbon (€2,729/m2) and the Algarve (€2,486/m2) led again, while the Central and Alentejo regions registered the lowest values, with €1,081/m2 and €1,139/m2, respectively. In contrast, low-density areas such as Alto Alentejo, Beiras and Serra da Estrela, and Beira Baixa, showed values more than 50% below the national median.
Need Expert Guidance?
Get personalized insights from verified real estate professionals, lawyers, architects, and more.
This picture highlights a persistent divide in the Portuguese real estate market: the coast continues to be valued, while the interior remains deeply discounted. This disparity is not attributed to a spontaneous market correction, but rather to a demographic, income, and demand imbalance. The rise in valuations, even in a context of high interest rates, suggests that the housing crisis in Portugal is not merely cyclical, but structural and geographical.
The pressure on the real estate market, driven by demand and the valuation of coastal and urban areas, continues to be a determining factor. The scarcity of supply in high-demand areas, such as Lisbon and the Algarve, contributes to the maintenance and increase of prices, despite economic challenges.
For a deeper understanding of real estate market trends in Portugal, visit our Market Analyses page. If you are considering investing in properties in Greater Lisbon or the Algarve, our Real Estate Agents Specializing in Investment can provide you with guidance. To explore the different regions and their investment profiles, consult our Lisbon Neighborhoods Guide.