Portuguese Property Prices Continue Climb in September with Lisbon Leading the Surge
The Portuguese real estate market registered another month of growth in September, with average prices for both sales and rentals showing a marked increase compared to the previous month and the same period last year. According to the monthly barometer from the property portal Imovirtual, the data underscores a persistent upward trend, confirming that Lisbon, Faro, and Madeira remain the most expensive regions for property acquisition in the country.
The analysis, based on advertised prices on the platform, reveals that the national average sale price rose to €435,000 in September. This represents a 1% increase from August's figure of €430,000 and a substantial 18% jump when compared to the €370,000 average recorded in September 2024. In the rental sector, the national average asking price settled at €1,300, a 2% rise from the previous month and a 4% increase year-over-year, indicating sustained pressure on the housing market across Portugal.
The Lisbon district continues to distinguish itself as the country's most valuable real estate market. The average sale price in the capital region reached €650,000, a figure that reflects a robust 21% annual appreciation. The rental market in Lisbon saw an even more pronounced monthly increase, with average rents climbing 7% to €1,790, which is 8% higher than twelve months prior. This performance solidifies Lisbon's position at the top of the price table, driven by strong demand that consistently outpaces available supply.
In the North of the country, the Porto district maintained its position as the most expensive area, with an average sale price of €425,000, marking a 1% monthly and 14% annual increase. The rental market in Porto, however, remained stable at €1,100, showing a slight 4% decrease compared to the previous year. Other northern districts like Braga and Aveiro also saw property values rise, with sale prices reaching €350,000 and €390,000, respectively.
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The South of Portugal, particularly the Algarve region, continues to be a focal point for high-value property transactions. The district of Faro consolidated its status as one of the most expensive areas to buy a home, with an average price of €550,000, up 22% annually. The neighboring district of Setúbal also posted strong results, with a 21% annual increase pushing its average sale price to €476,000. In the rental market, both Faro and Setúbal listed average prices of €1,250.
One of the most notable findings in the report was the performance of secondary markets, suggesting a broadening of investor interest. The district of Santarém, located in the Center region, recorded the highest annual growth in sale prices nationwide, with a 36% surge to an average of €269,000. Similarly, the district of Beja in the Alentejo region saw the country's largest monthly rental price hike, a 25% jump to €750, and a significant 32% annual increase in its average sale price, which now stands at €199,950.
Portugal's autonomous regions also demonstrated significant market dynamics. Madeira's property market remains one of the most expensive, with average sale prices hitting €580,000 and rental values at €1,400. In the Azores, the island of São Miguel experienced a remarkable 38% year-over-year increase in rental prices, reaching an average of €1,100, while its sale price appreciated to €399,000.
The data from Imovirtual provides a comprehensive overview of a market characterized by widespread price growth and regional disparities. The continued appreciation in primary urban centers like Lisbon and Porto, combined with accelerating growth in surrounding districts, points to a complex and evolving landscape for buyers and renters. The report serves as a key indicator of current market sentiment and price levels across the nation. Stay informed on Lisbon property market developments at realestate-lisbon.com.