While some predict property values may find equilibrium in the coming years, the Algarve continues to boast some of Portugal’s most sought-after and valuable real estate.
Recent data from the National Institute of Statistics (INE) reveals that a significant portion of Portugal’s upscale property markets – six out of ten – are concentrated in this sun-kissed southern region.
Lisbon leads as the priciest location, with a median square meter price of 4,252 euros. Cascais follows closely at 4,023 euros per square meter, but the Algarve region’s prominence is clear. Lagos claims the third position nationwide at 3,389 euros per square meter.
Other desirable areas in the Algarve reflect this trend, including Loulé, with properties trading at 3,267 euros per square meter, and Aljezur, where prices average 3,050 euros per square meter. Vila do Bispo and Albufeira also feature high average property values reaching 2,927 euros/sqm and 2,867 euros/sqm, respectively. Even Tavira, comparatively more affordable, maintains values around 2,754 euros per square meter.
Discovering Budget-Friendly Options
Conversely, opportunities abound in Portugal for more affordable housing. A number of municipalities, twelve in total, offer homes of 100 square meters for under 30,000 euros.
Pampilhosa da Serra presents the most economical option, with properties priced around 220 euros per square meter. Mação is slightly higher at 243 euros per square meter. While Vimioso and Figueira de Castelo Rodrigo both share a close cost of 250 euros per square meter.
These differences underscore the substantial regional variations within Portugal’s property landscape. The high end of the market is dominated by urban and coastal hot spots while more affordable options exist further inland.
Your choice to buy property in Portugal should depend on affordability, location and lifestyle priorities. For tailored suggestions on finding a dream property in the Algarve, reach out to the team at Algarve Home Sales.
