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 Portimão (1.5%).
- Conversely, Monchique (-3.6%) and Aljezur (-2.8%) experienced price drops.
- Notably, prices remained stable in São Brás de Alportel (0.5%) and Vila Real de Santo António (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.
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