ERA Portugal Study Reveals 54% Price Increase in Lisbon Since 2021
ERA Portugal released a comprehensive analysis on Friday, October 10, detailing the evolution of average property prices across all national districts from 2021 to 2025. The study's findings indicate a significant and widespread increase in prices, with metropolitan and tourist areas reaching record valuation levels. The national average price has risen by approximately 40% during this period.
The data was sourced from ERA Portugal's extensive network and reflects transactional data over the four-year period. The methodology involved comparing the average sale price, or 'ticket,' across all districts to identify key growth trends and regional disparities. The analysis provides a clear statistical snapshot of the market's performance.
Among the regions with the highest appreciation, the Autonomous Region of Madeira leads with a 73% growth, establishing an average property price of €281,824 in 2025. This surge is attributed to robust residential tourism and foreign investment, particularly in the areas of Funchal and Caniço. The district of Setúbal followed with a 60% appreciation, reaching an average price of €246,987, while the Lisbon district recorded a 54% increase, with its average ticket now standing at €383,128. For more in-depth data, investors often consult our market insights page.
The geographic breakdown shows a clear concentration of value in coastal and major urban hubs. Other districts with notable growth include Viana do Castelo (+55%) and Faro (+45%), both benefiting from strong tourism investment and a high demand for second homes. In 2025, the list of districts with average prices exceeding €200,000 has expanded to include Lisbon, Madeira, Faro, Setúbal, the Azores, Beja, Porto, and Braga. This is a stark contrast to 2021, when only Lisbon surpassed that threshold.
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The study also highlighted a slower growth trajectory in some interior regions. Viseu registered a slight negative variation of -3%, which the report links to lower demand pressure and greater sensitivity to credit conditions. The district of Guarda saw a modest 5% increase. Meanwhile, Vila Real (+10%) and Castelo Branco (+19%) showed moderate growth, indicating potential for future acceleration as they attract new buyer profiles, such as young families seeking more affordable housing options away from the major cities.
Rui Torgal, CEO of ERA Portugal, commented on the findings in a press statement. He noted that the 40% rise in the national average ticket aligns with the historical appreciation trend of the Portuguese real estate market. He attributed the price escalation to a fundamental imbalance between supply and demand. "It is vital to build more, rehabilitate more, agilizar processes, and reduce the tax burden to create a context favorable to increasing supply, which will allow the market to self-regulate housing prices," Torgal concluded. These trends are a frequent topic in our market trends news section.
The government has been under pressure to respond to the housing crisis, with supply-side constraints being a central issue. Industry experts have pointed out that between 2012 and 2022, the number of new homes built was only half that of the preceding decade, creating a significant deficit that the market is now grappling with. The ERA report provides fresh data confirming the consequences of this long-term supply shortage. Stay informed on Lisbon property market developments at realestate-lisbon.com.