In the 1st quarter of 2026, the median house price of the 35,953 family dwellings transacted in Portugal was 2,337 €/m2, following a variation rate of 19.8% in relation to the 1st quarter of 2025 (17.5% in the previous quarter). The number of family dwellings sales in Portugal decreased by 10.5% compared to the same quarter of 2025. The median house price increased, compared to the same period in 2025, in the 26 NUTS 3 sub-regions, with Lezíria do Tejo sub-region standing out (+30.4%).
The five sub-regions with the highest median house prices – Grande Lisboa, Algarve, Península de Setúbal, Região Autónoma da Madeira, and Área Metropolitana do Porto – also presented the highest values in both categories of the purchaser's tax residence (national territory and foreign). In the Grande Lisboa and Área Metropolitana do Porto sub-regions, the median price (€/m2) of transactions carried out by purchasers with foreign tax residence exceeded the price of transactions by purchasers with tax residence in the national territory by 34.5% and 16.9%, respectively.
In the 1st quarter of 2026, house prices accelerated (that is, they recorded increases in year-on-year change rates) in 11 of the 24 municipalities with more than 100 thousand inhabitants (compared with 13 in the 4th quarter of 2025), with the municipalities of Funchal (+24.2 percentage points (p.p.)), and Guimarães (+24.1 p.p.) showing the largest increases. The biggest decrease in the year-on-year rate of change occurred in the municipality of Matosinhos (-11.9 p.p.). The municipalities of Lisboa and Porto recorded increases of 0.3 p.p. and 2.4 p.p. in the year-on-year growth rates from the 4th quarter of 2025 to the 1st quarter of 2026. The municipalities of Lisboa (5,292 €/m2), Cascais (5,000 €/m2), and Oeiras (4,511 €/m2) had the highest house prices.
