The top 10 most expensive areas to buy property in Portugal in 2022?
Which areas are properties the most expensive to buy in Portugal in 2022?
Buying a Portugal property of 100 square metres (m2) will cost approximately €140,000 in 2022, that is according to the latest results from the Instituto Nacional de Estatística.
However, there are some places in Portugal where property prices are much lower – and other locations where they are far more expensive.
Here we will look at the most expensive places to buy a Property in Portugal.
According to a recent report by Idealista the largest property portal in Portugal and Spain, there are around 47 locations that have property prices well above the national average.
However, on the brighter side, there are 254 municipalities where the average price of properties is lower than the national average.
With 209 locations in Portugal buying a property costs less than €1,000 euros/m2, and it is still possible to purchase a property for less than €100,000.
So which are the most expensive places to buy a Property in Portugal?
Areas of Lisbon and the Algarve, along with Porto, are represented in the top 10 municipalities where properties are the most expensive to buy in Portugal.
- Lisbon takes first place, with a housing cost of approximately 3,705 euros/m2, a price nearly three times higher than the national average of 1,403 euros/m2, this is according to the data produced by the national statistics office.
- The next position goes to the premier holiday destination on the Lisbon coast of Cascais which lies just to the west of the city but is classed as being in the Lisbon district. Here buying a property will cost you approximately 3,275 euros/m2 on average.
- In the third position is the district of Loulé in the Algarve which includes the Golden Triangle areas of Vilamoura, Vale do Lobo and Quinta do Lago. House prices in this area are on average 2,750 euros/m2. Although prices around the city of Loule can be found much cheaper.
- Also representing the district of Lisbon in the top 10 and in 4th place is Oeiras at 2,823 euros/m2.
- Next and again in the district of Faro is Lagos, where buying a house has a price per m2 of 2,425 euros.
- The only municipality in the Greater Porto district that appears on this list is the city of Porto itself. This is the sixth most expensive place to buy property in the country, with a cost of 2,413 euros/m2.
- In seventh comes the Albufeira district of the Algarve where property prices have risen to 2,308 euros/m2 during the year 2022.
- Again in the Algarve and in the eighth position comes Lagoa which includes the beautiful coastal town of Carvoeiro and the fishing town of Ferragudo. Here the average price is now around 2,215 euros/m2.
- In ninth place, it’s back up to Lisbon and the semi-central area of Odivelas, which for Lisbon city prices (3,705 euros/m2) is much more reasonable than the city centre at around 2,197 euros/m2.
In the next article, you can find out which areas are properties the cheapest to buy in Portugal in 2022.