July . 21 . 2021 SYNTH SIS IN @ COVID-19 page 7/12 Communication Unit | tel: +351 21 842 61 10 | House prices decelerated in 18 of the 24 municipalities with more than 100 thousand inhabitants In the 1 st quarter of 2021, the median price of dwellings in Portugal was €1,241/m 2 , representing increases of 3.1% year-on-year and 4.5% compared to the 4 th quarter of 2020. The evolution of the year-on-year rate of change between the 4 th quarter of 2020 and the 1 st quarter of 2021, from 7.8% to 3.1%, shows a deceleration in house prices, interrupting the acceleration seen in the last quarter of the previous year. NUTS III regions The three NUTS III regions with the highest prices registered, simultaneously, more expressive year-on-year rates of change than the country (+3.1%): • Algarve: €1,755/m 2 , rate of change of +4,3%; • Área Metropolitana de Lisboa: €1,685/m 2 , +4,1%; • Área Metropolitana do Porto: €1,333/m 2 , +11,1%. Besides these, Região Autónoma da Madeira also recorded a median price (€1,402/m 2 ) higher than the rest of the country, although with a year-on-year growth (+1.4%) lower than that observed for the whole country. The largest year-on-year decrease occurred in Beiras and Serra da Estrela (-19.3%), which also recorded the lowest median sales price for dwellings: €476/m 2 . Municipalities Of the 24 municipalities with more than 100,000 inhabitants: • 18 registered a deceleration in house prices; of this group, 10 were in Área Metropolitana de Lisboa and 3 in Área Metropolitana do Porto; • Lisboa was the only registering a year-on-year reduction in the median house price: -7.9%, despite having the highest median price in the country: €3,257/m 2 ; • Oeiras was the only municipality in Área Metropolitana de Lisboa which recorded an acceleration in the median house price (+6.9 p.p.), to a rate of change of +12.3%. More information available at: House prices at local level – 1 st quarter of 2021 (15 July 2021)