In the 1st quarter of 2023, the median house price of dwelling sales in Portugal was 1 565 €/m2, representing a year-on-year growth rate of +7.6% (+10.7% in the previous quarter). Compared to the same period of the previous year, the median house price increased in 20 NUTS 3 sub-regions, with the emphasis on Lezíria do Tejo (+17.5%), Algarve (+16.6%), Leiria (+15.9%), Cávado (+15.6%) and Área Metropolitana de Lisboa (+15.2%).

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 +71.8% and +70.2%, the price of transactions by purchasers with tax residence in national territory.

In the 1st quarter of 2023, 14 of the 17 municipalities with more than 100 thousand inhabitants in the metropolitan areas of Lisboa and Porto had year-on-year change rates higher than the national rate, with the municipality of Loures (+26.5%) recording the highest value and Lisboa (+9.2%) the lowest. Lisboa presented, for the first time since the 1st quarter of 2020 (beginning of the current series), a year-on-year growth rate higher than the country.

In 14 of the 24 municipalities with more than 100 thousand inhabitants there was a deceleration in house price dwelling sales, standing out with decreases higher than 10 percentage points, Coimbra (-16.5 p.p.), Santa Maria da Feira (-14.0 p.p.), Vila Franca de Xira (-11.0 p.p.) and Funchal (-10.2 p.p.). In the municipality of Porto, the value was -6.5 p.p.. The municipality of Lisboa recorded an increase of +1.2 p.p..