In the 4th quarter of 2024, the median house price of the 44,115 family dwellings transacted in Portugal was 1,870 €/m2, following a variation rate of 15.5% in relation to the 4th quarter of 2023 (10.8% in the previous quarter). The number of family dwellings sales in Portugal increased by 34.2% compared to the same quarter of 2023. The median house price increased, compared to the same period in 2023, in the 26 NUTS 3 sub-regions, with the Região Autónoma da Madeira standing out with the highest growth (54.9%).
The sub-regions with the highest median house prices – Grande Lisboa, Região Autónoma da Madeira, Algarve and Área Metropolitana do Porto – also presented the highest values in both categories of the purchaser's tax residence (national territory and foreign). The exception was Península de Setúbal, which exceeded the country’s value in transactions involving buyers with tax domicile in national territory, although the same did not happen in those involving buyers with foreign tax domicile. In Grande Lisboa and Área Metropolitana do Porto sub-regions, the median price (€/m2) of transactions carried out by purchasers with foreign tax residence exceeded the price of transactions by purchasers with tax residence in the national territory by 65.0% and 35.7%, respectively.
In the 4th quarter of 2024, house prices accelerated in 19 of the 24 municipalities with more than 100 thousand inhabitants (in 13 in the 3rd quarter of 2024), with the municipalities of Funchal (+42.0 p.p.) and Matosinhos (+21.3 p.p.) showing the largest increases. The biggest decrease in the year-on-year rate of change occurred in the municipality of Maia (-7.7 p.p.). The municipality of Lisboa recorded an increase of 4.2 p.p. in the year-on-year growth rates from the 3rd to the 4th quarter of 2024 and that of Porto recorded an increase of 10.9 p.p. The municipalities of Lisboa (4,425 €/m2), Cascais (4,201 €/m2), Funchal (3,693 €/m2) and Oeiras (3,622 €/m2) had the highest house prices.
In 2024, the median house price of dwellings sales in Portugal was 1,777 €/m2, with the sub-regions Grande Lisboa (2,939 €/m2), Algarve (2,752 €/m2), Região Autónoma da Madeira (2,395 €/m2), Península de Setúbal (2,117 €/m2) and Área Metropolitana do Porto (1,986 €/m2) recording values higher than the national level.
