Buying a home in Portugal is more expensive than ever, with prices surging to new records across the country—and the Minho region is no exception.
According to the latest data from real estate portal Idealista, house prices rose sharply in November 2024 compared to the same month last year. In Viana do Castelo, property prices increased by 13.8%, while neighboring Braga saw an 8.7% hike. Nationally, prices rose by 7.8%, reaching an all-time high median price of €3,000 per square meter. Over the last quarter, the increase was 1.6%.
District Capitals: Where Prices Are Rising the Most
Most of Portugal’s 18 district capitals and autonomous regions experienced rising housing prices. Santarém (up 27.2%), Beja (26.6%), and Portalegre (23.6%) topped the list for biggest annual increases. Lisbon remains the most expensive city for buyers, with prices hitting €5,914/m², followed by Porto (€3,908/m²) and Funchal (€3,864/m²).
Other notable cities with high year-over-year increases included Setúbal (+17%), Guarda (+15.8%), and of course Viana do Castelo (+13.8%) and Braga (+8.7%).
Districts and Islands: Where Are Prices Surging Most?
Outside the mainland, Porto Santo island saw a remarkable 48.2% price jump, making it the leader in price growth. Among mainland districts, Santarém (20.9%), Guarda (20%), and Setúbal (18.4%) also reported double-digit growth.
In terms of cost per square meter, Lisbon leads at €4,513/m², with Faro, Porto Santo, and Madeira following close behind. Braga and Viana do Castelo stand at €1,857/m² and €1,615/m² respectively, showing that Minho’s real estate market is thriving but still more affordable than larger cities.
Why Are Prices Rising?
The Idealista index compiles data from advertised house prices, eliminating outliers and rarely viewed or interacted-with listings to ensure accuracy. The upward trend suggests continued strong demand for homes, especially in emerging regions like Minho.
Bottom Line
If you’re considering buying property in Portugal, prepare for higher prices—especially in popular districts like Viana do Castelo and Braga. While Lisbon and Porto remain the most expensive, Minho and several other regions are experiencing rapid price hikes, making now a crucial time to act for potential buyers.
For more insights and the latest on Portugal’s property market, stay tuned to our updates.
