Living in a luxury home with a garden, pool, and generous spaces is a dream for many, though it is not for every budget. The good news is that almost all districts in mainland Portugal and the islands had at least one luxury home for sale at the beginning of August 2024, that is, priced over 1 million euros. However, the distribution of these luxurious homes across the country is not uniform, as the districts of Lisbon, Faro, and Porto account for 81% of all homes available above this price point, reveals an analysis by idealista.
Buying homes for over 1 million euros? Lisbon has the most supply
On 1 August 2024, Portugal had more than 12,000 luxury homes for sale on the market with prices exceeding one million euros. Lisbon is the district with the highest number of luxury homes, representing 44.6% of the national total. The second district with the most homes priced above 1 million euros is Faro (24.9% of the total), followed by Porto (11.2%).
The list of districts with the highest supply of luxury homes costing over 1 million euros continues with Setúbal (5.2% of the total), Madeira (4.3% of the total), Leiria (1.5%), Évora (1.4%), Braga (1.1%), and Santarém (1.1%).
With a luxury home supply of less than 1%, are Viana do Castelo (0.9%), Aveiro (0.7%), Beja (0.7%), Coimbra (0.5%), Portalegre (0.4%), Viseu (0.4%), Vila Real (0.4%), São Miguel Island (0.3%), Castelo Branco (0.2%), Guarda (0.1%), and Bragança (0.1%).
The area with the fewest luxury homes listed by 1 August was Porto Santo Island, with only one. Next on the list are São Jorge Island (2), Santa Maria Island (2), Pico Island (2), and Terceira Island (6), whose share of the national market in this sector is negligible (close to 0%).
Where are the luxury homes costing more than 3 million euros?
Within the luxury residential market, there are even more exclusive homes costing over three million euros. Among these high-end properties, there are 1,700 listings above this price that were advertised on idealista by the beginning of August.
These luxury homes costing more than 3 million euros are primarily located in Lisbon (842 listings; 49.5% of the total), Faro (495 listings; 29.1% of the total), and Setúbal (113 listings; 6.6% of the total). Following are Porto (58 listings; 3.4% of the total) and Madeira (47 listings; 2.8% of the total).
It is also noted that the supply of luxury homes over 3 million euros was non-existent on 1 August in several districts and islands of the country, such as Guarda, Pico Island, Porto Santo Island, Santa Maria Island, São Jorge Island, and Terceira Island, according to the same analysis.
