Housing: Median price rises 5% in the 1st quarter of 2024

Median housing price rose to 1,644 euros/sq m in the 1st quarter of 2024

The median price of housing increased by 5% in the 1st quarter of 2024, to 1,644 euros per square meter (euros/m2). According to data from the National Institute of Statistics, shared by Notícias ao Minuto, the acceleration occurred in 14 of the 24 most populous municipalities.

As is the case of Funchal, now with an increase of 17.6 percentage points, of Porto, with an increase of 3.6 points, and Lisbon, which increased by 0.5 percentage points.

The municipalities that had the highest median housing prices were Lisbon, with 4,190 euros/m2, Cascais, with 3,881 euros/m2, and Oeiras, with 3,281 euros/m2.

On the contrary, the slowing down of median housing prices occurred in 10 out of 24 municipalities with more than 100 thousand inhabitants.

"In Greater Lisbon and in the Metropolitan Area of Porto, the median price of transactions made by buyers with tax residence abroad exceeded by 82.3% and 47.5%, respectively, the price of transactions by buyers with tax residence in the national territory," explains the news.

The data also conclude that, compared to the same period of 2023, the median price of housing increased in 19 of the 26 NUTS III sub-regions (nomenclature of Territorial Units for Statistics), highlighting Baixo Alentejo, with a growth of 28.5%.

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