Time marches on and prices go up. This includes real estate in Portugal, which are getting higher and higher.
Property prices rose another 3.3% in the first three months of 2019, compared with the last quarter of 2018, settling at 1,849 euro per square metre, which is 172 euro per square foot. This is an increase of 17% year-on-year.
All Portuguese regions saw a price increase in quarterly terms, with the exception of the Central region and the Autonomous Region of the Azores, which showed decreases of 4.7% and 5.7%, respectively. Also noteworthy is the North region, where prices grew by 4.6%. After the North come the Autonomous Region of Madeira (+3.7%), the Metropolitan Area of Lisbon or AML (+2.8%), the Algarve (+0.6%) and Alentejo (+0.5%).
Not surprisingly, the AML continued to be the most expensive region in Portugal to buy a property between January and March, with each square metre costing 2,637 euro.
Real estate prices rose in 15 of the 24 Portuguese districts analysed, including the islands of Madeira and the Azores, with the largest increases taking place in Porto (4.6%), Castelo Branco (4%) and Madeira (3.6%). In the case of Lisbon, the increase was 2.2%.
The ranking of the most expensive districts continues to be led by Lisbon (3,002 euro per square metre), followed by Faro (2,072 euro per square metre) and Porto (1,728 euro per square metre).
Lisbon is still the Portuguese city where it is most expensive to buy a property, with an average price of 4,263 euro per square. The second and third places go to Porto (2,677 euro per square metre) and Faro (1,753 euro per square metre).
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