In the 3rd quarter of 2022, the median house price of dwelling sales in Portugal was 1 492 €/m2, representing a year-on-year growth rate of +13.5% (+17.8% in the previous quarter). Compared to the same period of the previous year, the median house price increased in all the 25 NUTS 3 sub-regions, except for the Viseu Dão Lafões sub-region.
The three sub-regions with the highest median house prices – Algarve (2 378 €/m2), Área Metropolitana de Lisboa (2 156 €/m2) and Área Metropolitana do Porto (1 660 €/m2) – also had the highest values in both categories of the purchaser’s tax residence: national territory (respectively, 2 232 €/m2, 2 128 €/m2 and 1 650 €/m2,) and foreign (2 854 €/m2, 3 511 €/m2 and 2 292 €/m2). In Área Metropolitana de Lisboa, there was the greatest difference between the median house prices of transactions carried out by purchasers with tax residence abroad and in national territory: 1 383€/m2, +65.0%.
In the 3rd quarter of 2022, there was a deceleration in housing prices in 12 of the 24 municipalities with more than 100 thousand inhabitants (seven in the 2nd quarter of 2022), standing out with more accentuated decreases than in the country (-4.3 p.p.), Guimarães (-8.3 p.p.), Porto (-6.5 p.p.), Cascais (-4.8 p.p.), Leiria and Loures, both with -4.6 p.p., and Braga (-4.4 p.p.). In the opposite direction, there was an increase in the year-on-year rate of change between the 2nd and 3rd quarter in 11 municipalities, with Maia (+12.7 p.p.) and Matosinhos (+12.1 p.p.) standing out. In Lisboa there was a slight acceleration (+0.7 p.p.).
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