Property Market-Index compares regional differences in Portugal’s real estate market going into 2024

Portugal's property market has been on an upward trajectory in recent years, driven by a number of factors, including the country's stable economy, low taxes, and exceptional quality of life.

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A report out today on the 14th of December 2023 from Property Market-Index highlights the vibrant state of the Portuguese real estate market, offering valuable insights, and comparisons, focusing on the most popular regions: Lisbon and surrounding areas, the Algarve, the Silver Coast, Porto, Braga, the Azores, and Madeira.

Lisbon and surrounding areas real estate market analysis

Lisbon, Portugal’s capital with a population of over 500,000, is a dynamic hub of culture, history, and commerce. The city's vibrant neighbourhoods, world-renowned landmarks, and Mediterranean climate make it a popular destination for both tourists and investors.

Average property prices in Lisbon range from €4,000 to €5,000 per square meter, depending on location and property type. The cosmopolitan also has a moderate cost of living making it ideal for many people wishing to relocate to it.

Lisbon's property market is a compelling investment destination, offering a diverse range of neighbourhoods with unique character, a strong economy and a stable political environment.

The city also boasts an excellent infrastructure and transportation network, as well as a rich cultural heritage and vibrant arts scene.

The Algarve real estate market analysis

The Algarve region, located in southern Portugal, is renowned for its stunning beaches, warm and sunny climate, and world-class golf courses.

The region's property market is particularly popular among international buyers seeking a second home or a retirement destination.

Average property prices in the Algarve range from €2,000 to €3,000 per square meter, varying depending on specific location and proximity to the coast.

The Algarve region is also known for its coastal lifestyle, a thriving tourist economy, and ample opportunities for water sports and golf.

The region's mild climate, with over 300 sunny days per year, ensures year-round appeal, further enhancing its attractiveness to investors and vacationers alike.

The Silver Coast real estate market analysis

The Silver Coast, situated along Portugal's central coastline, offers a charming blend of beaches, surfing culture, and charming towns.

The region's property market is more affordable than the Algarve, making it an attractive option for budget-conscious buyers.

Average property prices in the Silver Coast range from €1,000 to €2,000 per square meter.

The region's scenic beaches provide ample opportunities for surfing and other water sports, while its charming riverside towns and relaxed coastal atmosphere create a welcoming ambiance.

Additionally, the Silver Coast's proximity to Lisbon and Porto further enhances its appeal to those seeking access to urban amenities.

Porto and surrounding areas real estate market analysis

Porto, Portugal's second-largest city, is a UNESCO World Heritage Site renowned for its historic centre, port wine tradition, and friendly locals.

With a population of 241,272, Porto exudes a more intimate and friendly charm than Lisbon.

The city's property market offers a balance of affordability and accessibility, making it an attractive option for both domestic and international buyers.

Average property prices in Porto range from €2,500 to €4,000 per square meter.

Porto’s proximity to Lisbon and other major cities further enhances its connectivity, making it a well-connected hub for business and travel.

Braga real estate market analysis

Braga is a dynamic city with a rich history and a burgeoning cultural scene. As the third-largest city in the country, Braga boasts a population of over 200,000, making it a vibrant hub of commerce, education, and innovation.

Unlike its more expensive counterparts like Lisbon and Porto, Braga offers an appealing balance of affordability and liveability.

The average price per square meter for a property in Braga is around €1,200, significantly lower than the prices in the larger cities.

This affordability makes Braga a desirable destination for both locals and foreign investors seeking a more cost-effective lifestyle.

With average rental yields of around 3-4%, investors can expect a decent return on their investment, making Braga an attractive option for those seeking rental income.

Azores and Madeira real estate market analysis

The Azores and Madeira, Portugal's autonomous regions, offer a glimpse into the country's Atlantic Ocean archipelagos.

The Azores are known for their volcanic landscapes, lush greenery, and temperate climate, while Madeira boasts sub-tropical temperatures, stunning cliffs, and a rich viticultural heritage.

Property prices in the Azores and Madeira are generally higher than mainland Portugal, ranging from €2,000 to €4,000 per square meter.

While their remoteness may limit access to some amenities, the unique experiences and serene ambiance of these island paradises make them a compelling choice for those seeking a truly exceptional living or investment opportunity.

Key takeaways from the real estate report

Portugal's diverse property market offers a range of options for investors and homeowners seeking a vibrant lifestyle, a rich cultural heritage, and a welcoming environment.

Whether you're drawn to the cosmopolitan charm of Lisbon, the stunning beaches of the Algarve, the relaxed atmosphere of the Silver Coast, the historic allure of Porto, the volcanic wonders of the Azores, or the sub-tropical paradise of Madeira, Portugal's property market has something to offer everyone.

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View the full Property Market Index - Portugal Real Estate Report and Comparisons