Algarve Housing Prices Stabilize: What You Need to Know
Mais Algarve•1 month ago•
880

Algarve Housing Prices Stabilize: What You Need to Know

Economy
algarve
realestate
housingprices
economy
propertymarket
Share this content:

Summary:

  • Algarve housing prices stabilized with a 0.3% change in October.

  • Average cost to buy a house is €3,522/m².

  • Significant price increases in Vila do Bispo (6.8%) and Faro (4.1%).

  • Notable drops in Monchique (-3.6%) and Aljezur (-2.8%).

  • LoulĂ© is the most expensive municipality at €4,199/m².

Overview of Algarve Housing Prices

In October, the price of houses in the Algarve remained stable with a 0.3% change compared to the previous month. According to the Idealista price index, the average cost to buy a home reached €3,522 per square meter by the end of October. Over the last quarter, prices increased by 3.2%, and year-on-year, there was a 10.1% rise.

Price Changes by Municipality

Prices varied significantly across municipalities:

  • The highest increases were seen in Vila do Bispo (6.8%), Faro (4.1%), and PortimĂŁo (1.5%).
  • Conversely, Monchique (-3.6%) and Aljezur (-2.8%) experienced price drops.
  • Notably, prices remained stable in SĂŁo Brás de Alportel (0.5%) and Vila Real de Santo AntĂłnio (0.3%).

Most and Least Expensive Areas

The priciest area to buy a house is Loulé at €4,199/m², followed by Lagos at €4,017/m² and Vila do Bispo at €3,898/m². On the other hand, the most affordable options are found in Monchique (€2,252/m²) and São Brás de Alportel (€2,766/m²).

National Trends

Nationally, the average housing price remained stable at €2,733/m² during the same period.

Price Trends in District Capitals

In October, prices rose in eight district capitals, with Faro (4.1%), Santarém (2.7%), and Vila Real (2.1%) leading the charge. Notably, Lisbon remains the most expensive city for home purchases at €5,655/m².

Regional Analysis

Regionally, Madeira saw the highest increase at 0.9%, while the Algarve showed stability at 0.3%. The Greater Lisbon area continues to be the most expensive region to buy property, with an average price of €3,788/m².

Conclusion

The Idealista property price index is based on actual listings, ensuring the data reflects the true market conditions. For a complete report, visit Idealista's housing report.

Comments

0

Join Our Community

Create an account to share your thoughts, engage with others, and be part of our growing community.

Newsletter

Subscribe our newsletter to receive our daily digested news

Join our newsletter and get the latest updates delivered straight to your inbox.

PortugalToday.news logo

PortugalToday.news

Get PortugalToday.news on your phone!