The Algarve region has witnessed a significant 10% increase in housing prices this June compared to the same month last year. According to the idealista price index, the median cost to buy a home stood at 3,712 euros per square meter by the end of June. The quarterly variation was also notable at 4.8%.
Municipalities with the highest annual increases include Portimão (16.5%) and Faro (10.3%). Other areas like Albufeira (10.2%), Vila Real de Santo António (9.9%), and Lagos (9.3%) also saw significant rises. However, prices dropped in Castro Marim (-15.7%) and Aljezur (-2%), with Monchique remaining stable.
Loulé remains the most expensive municipality to buy a home, with prices at 4,370 euros/m2, followed by Lagos (4,223 euros/m2) and Vila do Bispo (3,860 euros/m2). On the other end, Monchique (2,322 euros/m2) and Castro Marim (2,530 euros/m2) offer the most affordable options.
Nationally, housing prices rose by 8%, averaging 2,898 euros/m2. The report highlights significant variations across different regions and districts, with the Autonomous Region of the Azores leading the increases at 19.5%.
For more detailed insights, the full report is available here.
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