According to data from Instituto Nacional de Estatística (INE), the median value for bank-appraised real estate in Portugal reached €1,995 per square metre in September 2025 — representing a year-on-year increase of 17.7% and a month-on-month uptick of €30 (or 1.5%) compared with August.
In the month of September, around 33,000 valuations were included in the sample. That total reflects a 4.2% increase compared with August, but a slight 0.4% decline on a year-earlier basis.
Regionally, the fastest annual gain was recorded in the Setúbal Peninsula (+25.9% vs September 2024), while the largest monthly increase was in the Autonomous Region of the Azores (+2.9% vs August) — and notably, no region showed a decrease either month-on-month or year-on-year in this exercise.
This follows on from what we saw in Q1 2025, where Portugal recorded the highest annual rise in house prices among EU member states in Q1 2025 (+16.3%) according to Eurostat.
The particularly strong performance in the Setúbal Peninsula underlines that some coastal and peri-urban zones continue to attract intense interest (likely from both domestic buyers and international investors). The Azores’ monthly increase indicates that it's not just mainland locations participating in the growth.
Paul Stannard, Founder and Chairman of Portugal Pathways and the Portugal Investment Owners Club, added: “The demand for premium properties in Portugal has been steadily increasing.
“While real estate is no longer a pathway to a Golden Visa, the residency-by-investment programme is more popular than ever, and high-net-worth individuals, and their families, are seeking to live life to the fullest when in Portugal by taking advantage of the luxury properties available.
“However, there remains a need for more affordable homes for the local population which would ease the price pressures.”
About Portugal Pathways
Portugal Pathways has supported hundreds of Golden Visa residency-by-investment applications and provides expert guidance through its professional supply chain network on estate planning, wealth management, Golden Visa and tax optimisation, including post-NHR / IFICI tax regime planning, as well as private healthcare, money transfers and bespoke relocation and luxury real estate solutions to enhance life and investment in Portugal
About Portugal Investment Owners Club
The Portugal Investment Owners Club, or P Club for short, is a unique investor membership community designed for discerning individuals, families, and organisations committed to exploring and capitalising on life in Portugal and enjoying money-can't-buy experiences and exclusive events.
Disclaimer: The information on the Portugal Pathways and Portugal Investment Owners Club (P Club for short) websites and in email communications is for general informational purposes only and should not be construed as legal, tax, or financial advice. You should consult and check with a qualified professional advisor before relying on any information provided on this website or in email communications. As it relates to investments in Golden Visas or other wealth management solutions offered by regulated and professional advisors, it is important to note that past performance is no guarantee of future returns. Private equities can be highly illiquid and come with risk and should always be under professional independent advice. Golden Visa investments need to be held for 6 to 7 years to allow for permanent citizenship/passport in the EU.
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