Home Prices Rose More Than 20 Percent in 135 of 303 Measured Municipalities in the Year to June, With Lisbon the Dearest at 5,192 Euros per Square Metre

Home prices rose by more than 20 percent in 135 of the 303 municipalities for which Statistics Portugal (INE) published a figure for the 12 months to June 2026, compared with the 12 months to June 2025. That is 44.6 percent of them, by The Portugal Brief's count from the data table attached to INE's local house price statistics, released on Friday 23 October. Prices fell in 28.

The release covers the median price per square metre of homes sold, a different measure from INE's national house price index published in September. INE builds it from anonymised sale records of the Autoridade Tributária e Aduaneira (tax authority).

The national picture

Across the 156,713 sales made from July 2025 to June 2026, the median price in Portugal was 2,264 euros per square metre, up 17.7 percent on a year earlier. Fifty-three municipalities sat above that national value, including all nine in Greater Lisbon (Grande Lisboa), all nine on the Setúbal Peninsula, 14 of the 16 in the Algarve and nine of the 17 in the Porto Metropolitan Area.

The city of Lisbon was the dearest at 5,192 euros per square metre, followed by Cascais (4,889), Oeiras (4,438) and Loulé (4,137). The steepest rises came in small municipalities with few sales, such as Vila de Rei and Mesão Frio, where a handful of deals can swing the median; INE publishes a figure only where there were at least 33 sales.

Among larger places, prices rose 26.9 percent in Sintra and 26.7 percent in Setúbal over the 12 months, against 14.7 percent in Lisbon and 18.7 percent in Porto.

The latest quarter

In the April to June quarter alone, the median was 2,445 euros per square metre, 18.4 percent higher than a year earlier (19.8 percent in the first quarter), while the number of sales fell 9.0 percent to 37,854. Prices rose in all 26 sub-regions, fastest in Médio Tejo (25.4 percent), Oeste (24.0 percent), Lezíria do Tejo and the Azores (both 23.9 percent).

Buyers with a tax address abroad paid a median 3,182 euros per square metre, against 2,421 euros for buyers with a Portuguese tax address. In Greater Lisbon the gap was 47.0 percent, and in the Porto Metropolitan Area 37.5 percent. Price growth in Lisbon municipality slowed by 8.9 percentage points from the first quarter, to 8.9 percent, while Funchal (24.2 percent), Barcelos (28.7 percent), Guimarães (28.6 percent) and Braga (21.6 percent) all outpaced the national rate.

Lisbon and Porto by parish

In Lisbon, Santo António was the most expensive freguesia (parish) at 7,254 euros per square metre, ahead of Parque das Nações, Avenidas Novas, Campo de Ourique and Misericórdia, all above 6,000. Avenidas Novas rose fastest (23.8 percent); Marvila was the only parish where prices fell (1.5 percent).

In Porto, the central parish union of Cedofeita, Santo Ildefonso, Sé, Miragaia, São Nicolau and Vitória (4,160 euros) and Ramalde (3,636 euros) both rose 25.3 percent. Campanhã was almost flat (0.6 percent).

What it means for you

These are prices actually declared at sale, not asking prices, so they are a useful check on what a seller or estate agent quotes. To find your own municipality, download the Excel file from the INE release page: the "Últimos 12 meses" sheet lists every municipality back to 2019. For Lisbon, Porto, Vila Nova de Gaia, Amadora, Braga, Funchal and Coimbra, INE's interactive Geohab map of house prices in the cities goes down to blocks of 500 by 500 metres. The figures cover sales only, not rents. INE's next local release is due on 2 February 2027.