Porto is asserting itself as the powerhouse of real estate investment on Portugal’s Atlantic Axis, which also includes Vila Nova de Gaia and Matosinhos. Recent data from Confidencial Imobiliário shows Porto is not only attracting the most new housing projects but is also leading in their execution and driving robust population growth.
From January to October 2025, Porto saw municipal services receive licensing requests for around 4,400 new homes—making it the largest new housing pipeline in the country. This follows a strong 2023 and 2024, when 5,980 homes were licensed, highlighting sustained investor appetite.
What truly sets Porto apart is the high rate of project realization: 75% of investment intentions moved forward to construction, well above the national average of 50%, and significantly outperforming both Vila Nova de Gaia (56%) and Matosinhos (36%).
The city is also reversing long-standing demographic declines. After shrinking from 301,000 residents in 1991 to 233,000 in 2014, Porto has welcomed nearly 20,000 new inhabitants between 2016 and 2024. Especially between 2022 and 2024, population grew at roughly 3% per year. For the first time in decades, Porto, Gaia, and Matosinhos are all growing together.
“Porto is the city that attracts the most projects and where they are most likely to materialize, reflecting its ability to compete for construction sector resources,” notes Ricardo Guimarães, Director of Confidencial Imobiliário. Between 2015 and 2024, Porto licensed 50.9 new homes per thousand residents, more than double the national average but in line with the euro area.
On the pricing front, Porto retains its position as the most expensive housing market along the Atlantic Axis, with an average price of €3,600 per square meter as of October 2025. Matosinhos follows at €3,155/m², and Vila Nova de Gaia at €2,488/m². All three experienced double-digit price growth in the past year: Porto (18.4%), Matosinhos (19.4%), and Gaia (17.3%).
For real estate investors and home buyers alike, Porto’s dynamic market promises both opportunity and sustained growth, confirming its status as Portugal’s leading real estate destination.
