Luxury homes continued to become more expensive in 85 cities around the world in 2022 but according to Knight Frank, it was in Dubai where luxury home prices rose the most in 2022 compared to the previous year (44.2 %).

This ranking, which brings together the prices of luxury homes in 100 cities and tourist areas around the world, also shows that luxury homes in the Algarve were 15.3% more expensive in 2022 while in Porto, prices rose by 12.7% and in Lisbon by 6%.

This data was compiled by Knight Frank's Prime International Residential Index (PIRI 100), and reported by idealista/news.

Looking at the top 10 where the price of luxury homes rose the most in 2022, the Algarve is in seventh position with homes being 15.3% more expensive, while in tenth place there is Porto, where prices rose by 12.7%. Still according to the PIRI 100 ranking for 2022 - which was recently released in Knight Frank's The Wealth Report 2023 -, Lisbon ranked 40th, with luxury house prices rising 6% compared to the previous year.