According to local house price statistics, in the third quarter of 2024, the increase in the median house price in the third quarter accelerated compared to the previous three months, when the increase had been 6.6%.

According to the statistical institute, between July and September last year, there was an acceleration in house prices in 13 of the 24 municipalities with more than 100 thousand inhabitants (it had risen in 12 in the previous quarter), with Maia (district of Porto) registering the largest increase, of 13.8 percentage points.

The largest decreases in the annual variation rate occurred in Porto (-10.7 percentage points) and Matosinhos (-10.3), while the municipality of Lisbon registered an increase of 1.9 percentage points.

The municipalities of Lisbon (4,336 euros/square meter - m2), Cascais (4,052 euros/m2), Oeiras (3,576 euros/m2) and Porto (2,960 euros/m2) had the highest housing prices in the third quarter.

By region, the median housing price increased, compared to the same period in 2023, in 22 of the 26 NUTS III sub-regions, which correspond to the territory of inter municipal entities (Intermunicipal Communities and Metropolitan Areas, in the case of Lisbon and Porto), with Alto Alentejo standing out with the highest growth (26.3%).

The five sub-regions with the highest median housing prices – Greater Lisbon, Algarve, Madeira, Setúbal Peninsula and Porto Metropolitan Area – also had the highest values ​​in both categories of buyer's tax domicile (national and foreign territory).

In Greater Lisbon and the Porto Metropolitan Area, the median price of transactions carried out by buyers with tax domicile abroad exceeded, respectively, by 63.3% and 54.2%, the price of transactions by buyers with tax domicile in national territory.