In the 4th quarter of 2025, the median house price of the 41,789 family dwellings transacted in Portugal was 2,198 €/m2, following a variation rate of 17.5% in relation to the 4th quarter of 2024 (16.1% in the previous quarter). The number of family dwellings sales in Portugal decreased by 5.3% compared to the same quarter of 2024. The median house price increased, compared to the same period in 2024, in 24 of the 26 NUTS 3 sub-regions. Only Alto Tâmega e Barroso (-12.1%) and Região Autónoma da Madeira (-8.3%) recorded year-on-year decreases in housing prices.
The five sub-regions with the highest median house prices – Grande Lisboa, Algarve, Península de Setúbal, Região Autónoma da Madeira, and Área Metropolitana do Porto – also presented the highest values in both categories of the purchaser's tax residence (national territory and foreign). In the 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 49.0% and 35.6%, respectively.
In the 4th quarter of 2025, house prices accelerated (that is, they recorded increases in year-on-year change rates) in 13 of the 24 municipalities with more than 100 thousand inhabitants (compared with 12 in the 3rd quarter of 2025), with the municipalities of Barcelos (+14.5 percentage points (p.p.)), and Maia (+14.1 p.p.) showing the largest increases. The biggest decreases in the year-on-year rate of change occurred in the municipalities of Matosinhos (-27.6 p.p.) and Coimbra (-25.7 p.p.). The municipalities of Lisboa and Porto recorded increases of 2.2 p.p. and 3.8 p.p. in the year-on-year growth rates from the 3rd to the 4th quarter of 2025. The municipalities of Lisboa (5,198 €/m2), Cascais (4,654 €/m2), and Oeiras (4,225 €/m2) had the highest house prices.
In 2025, the median house price of dwellings sales in Portugal was 2,076 €/m2, with the sub-regions Grande Lisboa (3,439 €/m2), Algarve (3,139 €/m2), Península de Setúbal (2,596 €/m2), Região Autónoma da Madeira (2,500 €/m2), and Área Metropolitana do Porto (2,305 €/m2) recording values higher than the national level.
