Portuguese house prices rise again

Câmara de Lobos up 30% in one year

Câmara de Lobos, where house prices have gone up 30% in one year
Câmara de Lobos

The Diario reports that the rise in house prices has been a hot topic in recent times given the influence it has on the daily lives of the Portuguese. Across the country, there are significant increases in house prices, as revealed by several studies. A work recently published on the mainland by Jornal de Negócios led to the headline “House prices rise by more than 50% in 39 Portuguese municipalities since pre-Covid”.

In the case of Madeira, the increase does not happen uniformly, although there is no municipality where the price of houses has doubled in the space of just one year as some headlines claim. 

Funchal house prices up 20%

Portuguese house prices rise again 1

The data presented are based on those released by the Instituto Nacional de Estatística (INE), the Government office for national statistics of Portugal. In Funchal, the increase was 20.73%, from a median value of sales in the 1st Quarter of 2022 of 1,799 euros per square meter to 2,172 euros per square meter in 2023.

The biggest increase took place in the municipality of Câmara de Lobos, the only one in the Region with an increase of more than 30% in the last year. The municipality saw an increase of 31.24%, going from €1,130 to €1,483 euros per square metre. Only in the municipalities of Ribeira Brava and São Vicente was there a drop in house prices, with decreases of up to 10%.

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