In the 2nd quarter of 2023, the median house price of dwelling sales in Portugal was 1 629 €/m2, representing a year-on-year growth rate of +9.0% (+7.6% in the previous quarter). Compared to the same period of the previous year, the median house price increased in 19 NUTS 3 sub-regions, with Região Autónoma da Madeira (+2495%) and Médio Tejo (+15.7%) standing out.

The four sub-regions with the highest median house prices – Algarve, metropolitan areas of Lisboa and Porto and Região Autónoma da Madeira – 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 +61.3% and +91.6%, the price of transactions by purchasers with tax residence in national territory.

In the 2nd quarter of 2023, there was a deceleration in housing prices in 17 of the 24 municipalities with more than 100 thousand inhabitants registered a deceleration in house prices, standing out with decreases higher than 10 percentage points, Barcelos (-17.8 p.p.), Loures (-11.6 p.p.) and Odivelas (-10.3 p.p.). The municipality of Porto registered an increase of +7.1 p.p. and Lisboa scored an increase of +3.7 p.p..

In the 2nd quarter of 2023, the 3rd quartile of dwellings sales, was above the national value (2 456 €/m2) in Algarve (3 450 €/m2), the metropolitan areas of Lisboa (3 411 €/m2) and Porto (2.537 €/m2) and in Região Autónoma da Madeira (2.690 €/m2). In Algarve, the median house rental value was higher than the 3rd quartile of all others NUTS 3 sub-regions, with the exception of Área Metropolitana de Lisboa and Região Autónoma da Madeira (see Box).