House prices increased by 8.6% from 2022 to 2023.

Average house value increased to 1,611 euros/m2 in 2023.

The average house increased by 8.6% from 2022 to 2023, now reaching 1,611 euros per square meter.  

The data is from the National Institute of Statistics, shared by Notícias ao Minuto, indicating that this 8.6% increase in the median housing price was more significant in certain sub-regions.

Statistics on last year's construction and housing reveal that the median housing price remained above the national value in the sub-regions of Greater Lisbon (2,740 euros/m2), Algarve (2,613 euros/m2), Setúbal Peninsula (1,901 euros/m2), Autonomous Region of Madeira (1,889 euros/m2), and Metropolitan Area of Porto (1,800 euros/m2).  

In 2023, "50 municipalities had a median price higher than the national value, mainly located in the Algarve sub-regions (14 out of 16 municipalities), Greater Lisbon (all nine municipalities), Setúbal Peninsula (eight out of nine municipalities), and the Porto Metropolitan Area (seven out of 17 municipalities)", the news also points out.

The municipality that recorded the highest price in the country was Lisbon with 4,167 euros per square meter, with also values ​​above 3,000 euros per square meter in Cascais (3,976 euros/m2), Loulé (3,269 euros/m2), Lagos (3,182 euros/m2), Vila do Bispo (3,162 euros/m2) and Oeiras (3,158 euros/m2).

In addition, the news also highlights that "according to INE, the Algarve and Greater Lisbon had price differentials between municipalities exceeding 2,000 euros/m2".  

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