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the House prices in Portugal rose by 5.9% in 2020, in the middle of the Covid-19 pandemic, settling in 2,147 euros per square meter (m2). In relation to the quarterly variation, the increase was 2.7% in the last three months of the year, according to the price index of the idealistic. In the third, second and first quarters, prices had increased 1%, 0.5% me 1.6%, respectively.
Regions
All regions experienced a price increase in 2020. The largest increase for the year was recorded in North, where the prices increased 10.6%. It is followed by the Autonomous Region of the Azores (8.8%), the Autonomous Region of Madeira (7.8%), the Algarve (7.2%) and the Center (5.7%). The lowest increases occurred in Alentejo (0.7%) and in the Lisbon Metropolitan Area (2.6%).
A Lisbon Metropolitan Area, with 3,017 euros per m2, still the most expensive region, followed by the Algarve (2,368 euros per m2), the North (1,834 euros per m2) and the Autonomous Region of Madeira (1,678 euros per m2). On the opposite side of the table are the Autonomous Community of the Azores (999 euros per m2), Alentejo (1,024 euros per m2) and the Center (1,105 euros per m2), which are the cheapest regions.
Districts / Islands
Of the districts analyzed, the largest increases in 2020 occurred in Vila Real (16.7%), Viseu (14.2%), Aveiro (14.1%), Porto (11.6%), Coimbra (11.3%), Braga (10.4%) and Setúbal (10%). The island of São Miguel (9.5%), the island of Madeira (7.8%), Faro (7.2%), Viana do Castelo (4.6%), Santarém (4, 3%), Porto Santo Island (4.2%) and Lisbon (2.2%). The districts where prices rose the least were Portalegre (1.4%), Braganza (1.5%), Castelo Branco (1.7%) and Évora (1.8%).
On the other hand, low in Guarda (-6.7%), Leiria (-6%) and Beja (-2.9%).
It should be noted that the ranking of the most expensive districts continues to be led by Lisbon (3,346 euros per m2), followed by Faro (2,368 euros per m2) and Porto (2,140 euros per m2). The cheapest prices are in Guarda (628 euros per m2), Portalegre (644 euros per m2), Castelo Branco (695 euros per m2) and Bragança (761 euros per m2).
District capital cities
the prices increased in 18 district capitals, with Viseu (23%) at the top of the list. Coimbra (13.7%), Braga (12.6%), Castelo Branco (10.5%), Évora (9.8%), Guarda (9.6%), Setúbal (9.4%)), Aveiro (7.5%), Faro (6.6%), Porto (6.1%)and Funchal (5.7%). The smallest increases were registered in Viana do Castelo (3.9%), Leiria (3.2%), Santarém (1.7%), Lisbon (1.5%) and Braganza (0.8%).
On the other hand, prices only fell in Portalegre and Beja: -9.4% and 1.2% respectively.
Lisbon is still the most expensive city to buy a house: 4,678 euros per m2. Porto (2,949 euros per m2) and Faro (1,995 euros per m2) occupy the second and third place, respectively. The cheapest cities are Portalegre (656 euros per m2), Guarda (749 euros per m2), Castelo Branco (764 euros per m2) and Bragança (771 euros per m2).
The idealistic real estate price index
From the report for the first quarter of 2019, The methodology for the preparation of this study was updated.. After incorporating the idealistic / dating In the idealistic group, new calculation formulas have been introduced that contribute to greater precision in the analysis of price evolution, especially in small areas.
On the recommendation of the idealista / date statistical team, the formula to find the average price has been updated: in addition to eliminating outliers with out-of-market prices, we calculate the median value instead of average value. With this change, in addition to bringing the study closer to the reality of the market, we have approved our methodology with those applied in other countries to obtain real estate data.
We also include the typology “single-family homes” and we discard all the ads that are in our database and that have been without any type of interaction on the part of users for some time. The report is still based on the sale prices published by idealista’s advertisers.
The full report is available link neste.
