The median price of the 151,784 homes sold during 2024 was 1,777 euros per square metre (euros/m2), having increased 10.3% compared to the previous year, as revealed by data from the National Institute of Statistics (INE).

However it is not all bad news as only “54 municipalities had a median price higher than the national value, mostly located in the Algarve sub-regions (14 of 16 municipalities), Greater Lisbon (all 9 municipalities), Setúbal Peninsula (8 of 9 municipalities) and Porto Metropolitan Area (7 of 17 municipalities)”, highlights the institute.

The 10 cheapest municipalities to buy a house

The 10 cheapest municipalities to buy a house in Portugal are in the interior of the country. Armamar, in the district of Viseu, was the cheapest municipality of all, presenting a median cost of 208 euros/m2 in the last 12 months ending in December 2024. In other words, a 100 m2 house was sold for 20.8 thousand euros.

The second cheapest municipality to buy a house is Figueira de Castelo Rodrigo, district of Guarda, with a price of 240 euros/m2, followed by Mação (district of Santarém), where the cost of housing was 273 euros/m2. In Pampilhosa da Serra and in Idanha-a-Nova, the price was 274 euros/m2. Therefore, in these municipalities, it is possible to purchase a 100 m2 home for less than €27,500.

Eight of the 10 cheapest municipalities to buy a house in Portugal have values ​​below 300 euros/m2 – which means that a 100 m2 house costs less than 30 thousand euros. The only exceptions are Penamacor and Torre de Moncorvo, with slightly higher prices.

Where is it most expensive to buy a house?

As expected, the 10 most expensive municipalities to buy a house are located in the districts of Lisbon, Faro, Porto and even on the island of Madeira. And all of them have median costs above 2,900 euros/m2, which means that a 100 m2 house was sold for more than 290 thousand euros in 2024.

“The municipality of Lisbon (4,340 euros/m2) recorded the highest price in the country. Values ​​above 3,400 euros/m2 were also recorded in Cascais (4,053 euros/m2), Oeiras (3,471 euros/m2) and Lagos (3,452 euros/m2)”, says INE.

The truth is that the municipalities in the Faro district dominate the top 10 most expensive municipalities to buy a house, represented by five municipalities. Next are the territories of the Lisbon district (three). Outside these districts is Funchal (3,061 euros/m2) and also Porto (2,984 euros/m2).

“In 2024, the municipality of Lisbon registered the highest number of family housing transactions in the country (8,300) and with more than 4,500 sales, the municipalities of Sintra (5,817), Vila Nova de Gaia (5,394) and Porto (4,564) stood out”, the bulletin also reads.