According to the National Institute of Statistics (INE), this value represented a growth of 4.1% compared to the first quarter of 2023 and an acceleration of the year-on-year variation compared to the 7.6% recorded from January to March.

In the period under analysis, the median price of housing increased, compared to the same period last year, in 19 NUTS III sub-regions, with INE highlighting the growth in the Autonomous Region of Madeira (+24.9%) and in Médio Tejo (+15.9%).

“The four NUTS III sub-regions with housing prices higher than those of the country also recorded year-on-year rates of change higher than the national rate: Algarve (2,583 euros/m2 and +9.5%), Lisbon Metropolitan Area (2,306 euros/m2 and +11.1%), Autonomous Region of Madeira (1,916 €/m2 and +24.9%) and Metropolitan Area of Porto (1,802 euros/m2 and +14.3%)”.

The Médio Tejo region also stood out, with a year-on-year rate of change of +15.7%.

The sub-regions Viseu Dão Lafões (-12.9%), Baixo Alentejo (-10.9%), Beira Baixa (-8.6%), Beiras and Serra da Estrela (-6.4%), Alto Tâmega (-5.4%) and Terras de Trás-os-Montes (-3.6%) recorded year-on-year decreases in housing prices in the second quarter of 2023.

As in previous quarters, Alto Alentejo presented the lowest median sales price for family accommodation (546 euros/m2).

Foreign buyers

During the same period, the median value of family homes transacted in Portugal involving buyers with tax domicile abroad was 2,409 euros/m2 (+5.1% compared to the same quarter last year) and, in the case of transactions by buyers with tax domicile in national territory, this value was 1,588 euros/m2 (+8.7% compared to the same quarter of the previous year).

The four sub-regions with the highest median house prices – Algarve, Lisbon Metropolitan Area, Madeira Autonomous Region and Porto Metropolitan Area – also presented the highest values in both categories of buyer's tax residence.

In the metropolitan areas of Porto and Lisbon, the median price (euros/m2) of transactions carried out by buyers with tax domicile abroad exceeded, respectively by +61.3% and +91.6%, the price of transactions by buyers with tax domicile in national territory.