Algarve has 50% of top ten most expensive property areas in Portugal

Of the ten most expensive property areas in the country, the Algarve represents five of them.

Lisbon is the most expensive place in Portugal in which to buy a house, with Cascais not far behind at €2,167, but the Algarve council areas of Loulé, Lagos, Albufeira, Tavira and Lagoa dominate the top ten.

The rise in property prices continues steadily with the average price of a Portuguese house or apartment reaching almost €1,000 in the third quarter of last year.

According to data released by the National Statistics Institute, the national average value reached €984 per square meter, a 1.5% increase over the previous quarter and a 7.9% increase year on year.

Porto almost looks good value at €1,525 per square meter, as does Funchal in Madeira where you will be spending €1,491 for each metre of your next home.

The top ten highest priced areas are:

1st Lisbon 2,877 euros

2nd Cascais 2,167 euros

3º Oeiras 1,878 euros

4º Loulé € 1,870

5º Lagos 1,755 euros

6º Albufeira 1,683 euros

7th Tavira 1,630 euros

8th Port 1,525 euros

9th Lagoa 1,497 euros

10º Funchal 1,491 euros

To view an interactive map of the country’s property prices, click HERE