In 2022, the median house price of dwelling sales in Portugal was 1 484 €/m2 and stood above the national value in the sub-regions of Algarve (2 339 €/m2), Área Metropolitana de Lisboa (2 096 €/m2), Área Metropolitana do Porto (1 609 €/m2) and Região Autónoma da Madeira (1 571 €/m2).
In the 4th quarter of 2022, the median house price of dwelling sales in Portugal was 1 500 €/m2, representing a year-on-year growth rate of +10.7% (+13.5% in the previous quarter). Compared to the same period of the previous year, the median house price increased in 22 NUTS 3 sub-regions, with the highest increases in Alentejo Litoral (+22.6%), Região Autónoma da Madeira (+18.9%), Aveiro (+18.3%) and Médio Tejo (+17.2%).
The four sub-regions with the highest median house prices – Algarve, Área Metropolitana de Lisboa, Região Autónoma da Madeira and Área Metropolitana do Porto – also had the highest values in both categories of the purchaser’s tax residence. In the metropolitan areas of Porto and Lisboa, the median price (€/m2) of transactions carried out by purchasers with tax residence abroad exceeded, respectively by +75.6% and +64.3%, the price of transactions by purchasers with tax residence in national territory.
In the 4th quarter of 2022, there was a deceleration in housing prices in 14 of the 24 municipalities with more than 100 thousand inhabitants (12 in the 3rd quarter of 2022), standing out with decreases higher than 10 percentage points (p.p.), Barcelos (-19.2 p.p.), Maia (-16.5 p.p.) and Matosinhos (-11.6 p.p.). In Lisboa the value was -0.3 p.p.. In the opposite direction, there was an increase in the year-on-year rate of change in 10 municipalities, particularly in Santa Maria da Feira (+11.3 p.p.), Vila Franca de Xira (+7.8 p.p.) and Guimarães (+7.7 p.p.). The municipality of Porto recorded an increase of +0.8 p.p..
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