In the 1st quarter of 2022, median house price of dwellings sales in Portugal was 1 454 €/m2, representing a year-on-year growth rate of +17.2% (+14.1% in the previous quarter). In 22 of the 25 NUTS 3 sub-regions, there was an increase in median house prices compared to the same period in the previous year.
The two sub-regions with the highest median house prices - Algarve (2 237 €/m2) and Área Metropolitana de Lisboa (1 986 €/m2) - also had the highest values in both categories of purchaser's tax residence: national territory (respectively, 2 115 €/m2 and 1 969 €/m2) and foreign (2 588 €/m2 and 3 533 €/m2).
Between the 4th quarter of 2021 and the 1st quarter of 2022, the year-on-year growth rate increased in nine out of the 11 municipalities with more than 100 thousand inhabitants in the Área Metropolitana de Lisboa, and this acceleration was higher than the observed at national level (+3.1 p.p.) in Sintra (+7.9 p.p.), Setúbal (+6.5 p.p.) and Almada (+3.3 p.p.). In Lisbon (+2.3 p.p.), as in the previous quarter, and Cascais (+2.0 p.p.), the acceleration was less expressive. In Loures (-2.0 p.p.) and Oeiras (-1.7 p.p.) there was even a deceleration of prices.
In the Área Metropolitana do Porto, the municipalities of Santa Maria de Feira (+13.8 p.p.), Vila Nova de Gaia (+6.8 p.p.), Gondomar (+5.3 p.p.) and Porto (+3.7 p.p.) also scored an increase in the year-on-year rates of change higher than the country. In the other two municipalities with more than 100 thousand inhabitants - Matosinhos (- 9.8 p.p.) and Maia (- 2.4 p.p.) - there was a deceleration.