Prices of houses accelerate in 10 of the 24 most populated municipalities

Ohousing prices accelerated in the second quarter in 10 of the 24 municipalities with more than 100,000 inhabitants, highlighting Loures and Matosinhos with the highest increases and recording Guimarães the biggest retreat, released today the INE.

According to the latest “Lores Price Statistics of Housing at Local Level” of the National Institute of Statistics (INE), for the period from April to June, the municipality of Loures registered an increase in the annual variation rate of 9.7 percentage points and Matosinhos of 9.5 percentage points, while Guimarães retreated 13.4 percentage points.

In turn, the municipalities of Lisbon and Porto had a decrease of 8.9 and 5.4 percentage points in annual variation rates from the first to the second quarter of 2026.

In the period under review, all municipalities with more than 100,000 inhabitants of Greater Lisbon, Setúbal Peninsula and Porto Metropolitan Area, with the exception of Santa Maria da Feira, recorded average housing prices higher than the national value 2,445 euros per square metre (€/m2).

In the Metropolitan Area of Porto, only Gondomar (22.9%) and Maia (18.8%), presented rates of annual variation higher than the national (18.4%), while in Grande Lisboa, only Oeiras (13.0%) and Lisbon (8.9%) were below the country's growth, with Odivelas equalizing the national value.

In the Setúbal Peninsula only the municipality of Almada (14.1%) presented a lower rate of annual variation than in the country.

INE highlights the cities of Lisbon (5.299 €/m2), Cascais (5.200 €/m2) and Oeiras (4.704 €/m2) with the highest average housing prices, higher than 4,500 €/m2.

Funchal, on the other hand, presented a median price and an annual variation rate higher than the national ones (3.636 €/m2 and 24.2%), Barcelos (2,000 €/m2 and 28.7%), Guimarães (2.060 €/m2 and 28.6%) and Braga (2.417 €/m2 and 21.6%) also exceeded the annual variation rate in the country.

Taking as reference the 156,713 sales made between July 2025 and June 2026, Lisbon recorded the average price of the highest housing among the 24 municipalities with more than 100,000 inhabitants, in both categories of the buyer's tax domicile: 5,143 €/m2 per buyers of the national territory and 6,588 €/m2 per buyers with tax domicile abroad.

In addition to Lisbon, Cascais, Oeiras and Porto also recorded median family accommodation prices of more than €3,500/m2 in transactions involving buyers with tax homes in national territory and over €4,350/m2 by buyers abroad.

The municipalities of Lisbon, Cascais, Oeiras and Porto were also distinguished by presenting the highest median prices, among the 24 municipalities with more than 100,000 inhabitants, in the two categories of the institutional sector of the buyer considered.

In turn, the municipality of Loures presented the largest price differential between institutional sectors of the buyer: 1,386 €/m2.

Between July 2025 and June 2026, 22 of the 24 municipalities with more than 100,000 inhabitants recorded average prices of new accommodation higher than the prices of existing accommodation.

The exceptions were Amadora, where the average price of existing accommodation was higher than the new (3.360 €/m2 and 2.784 €/m2 respectively) and Santa Maria da Feira, where it was higher than 2€/m2 (1.767 €/m2 existing and 1,765 €/m2 new).

Santa Maria da Feira recorded the lowest average price of new accommodation and Lisbon (6.434 €/m2) and Cascais (5.260 €/m2) the highest values, higher than 5,000 €/m2.

Lisbon has presented the greatest difference between new (6.434 €/m2) and existing (5.030 €/m2) accommodation prices: 1,404 €/m2.

Among the municipalities with more than 100,000 inhabitants, the INE still distinguishes Cascais by presenting the highest price in the T4 or higher typology (5.063 €/m2) and Lisbon with the highest median values in the remaining types of accommodation considered.