Portugal remains a popular destination for those seeking to buy a luxury home. High-net-worth families are primarily interested in areas near Lisbon and along the coast, balancing seaside living with city amenities. However, options for those desiring a rural retreat are limited due to a shortage of properties priced above €1 million.
Analysis indicates that luxury homebuyers in Portugal prioritize properties that offer both the charm of living near the beach and the benefits of residing close to a major city, including healthcare and leisure activities.
This conclusion is based on data from idealista/data, covering the three months leading up to February 2025. Oeiras and Lisbon have the highest demand for luxury villas priced above €1 million. Interest in high-end apartments is also concentrated in municipalities surrounding the capital, including Sintra, Mafra, and Loures, followed by Lisbon itself.
Outside of Greater Lisbon, demand for luxury homes is focused along Portugal’s coastline, stretching from Minho to the Algarve, as well as the islands of São Miguel and Madeira—regions where these properties are more readily available. The municipality of Caminha is notably popular for premium villas.
The data reveals a very limited supply of premium homes (fewer than 10 listed properties) in inland municipalities, or none at all. This shortage significantly restricts choices for those seeking a secluded lifestyle surrounded by nature. Évora is an exception, ranking sixth in demand for luxury villas and offering a blend of rural tranquility and urban accessibility.
Premium villas for sale are prevalent along the Portuguese coast
Demand for premium villas in Portugal significantly exceeds that for luxury apartments, likely due to greater availability and a lower price per square metre, as explained in this article.
The premium villa market shows the highest number of listings in the last quarter (ending February 2025) in Cascais, Loulé, Lagos, Sintra, and Albufeira. These five locations—across Greater Lisbon and the Algarve—combine beach and city living and account for nearly half of the approximately 13,700 villas for sale across the 82 municipalities analysed (each with at least 10 listed properties). Porto has 580 luxury villas available, surpassing Lisbon’s 408.
The number of luxury apartments for sale nationwide is lower, around 7,300. Lisbon and Cascais alone represent 60% of this total, with listings concentrated in 29 municipalities with a representative sample. Porto ranks third, with 760 premium apartments currently on the market, according to idealista/data.
While the stock of luxury apartments is concentrated in Lisbon, Porto, and the Algarve, the availability of high-end villas is more widespread—though still predominantly located along the coast and on the islands. This broader distribution offers more options for buyers wanting to live by the beach, in a city, or a combination of both. Both types of properties remain scarce or virtually non-existent in inland areas, limiting options for those seeking a countryside retreat.
Prices of luxury villas and apartments in Portugal
Luxury villas in Portugal generally cost significantly more than high-end apartments, likely due to larger spaces, premium finishes, energy efficiency, and exclusive amenities like private pools, gardens, spas, and home cinemas.
The most expensive luxury villas in the country are in Ferreira do Zêzere, in the district of Santarém, with a median price nearing €2.9 million. Following are the municipalities of Grândola (€2.6 million), Cascais (€2.4 million), and Lisbon (€2.3 million). Sixteen of the 82 municipalities analysed have villas for sale with a median price exceeding €2 million.
The average price of high-end apartments remains below this threshold across all 29 municipalities studied. Lagoa, in the Algarve, has the most expensive premium apartments, with a median price of nearly €1.9 million, followed by Cascais (€1.8 million) and Lisbon (€1.6 million).
The most affordable luxury villas on the market are in Santa Maria da Feira and Viana do Castelo, priced around €1.2 million—though these are not among the most popular locations. Alcochete and Odivelas are notable for having the lowest median prices for luxury apartments, at approximately €1.1 million.
