Lisbon is the municipality with the most expensive homes for sale in Portugal, but a closer inspection reveals substantial variations across its neighbourhoods. The most expensive parishes to purchase a home are Santo António and Marvila, where prices per square metre (m²) exceed €6,000. In contrast, in Beato, homes can be purchased for nearly half the price. In Porto, properties for sale are 30% cheaper than in Lisbon.
The latest data from the National Statistics Institute (INE) shows that house prices continue to rise in most Lisbon parishes (18 out of 24), with the steepest increases observed in Santa Clara (+26%) and Areeiro (+22%). As a result, the median price of purchasing a home in Lisbon increased by 3% in the 12 months leading up to June, compared to the previous year, reaching €4,203 per square metre (€/m²).
Due to this trend, there are now five Lisbon parishes where the price per m² exceeds €5,000: Santo António, Marvila, Misericórdia, Estrela, and Santa Maria Maior. This means that a 100 m² home was bought for a median price of €500,000 (or more) in the year ending in June.
In fact, Santo António and Marvila have already recorded prices above €6,000/m², meaning a 100 m² property would have cost over €600,000, according to INE data released at the end of October 2024. In Marvila, located near Parque das Nações, house prices have risen significantly in recent years, driven by the development of new residential projects like Prata Riverside Village.
However, 11 parishes still have property prices below Lisbon’s median (€4,203/m²). Among them, seven areas saw 100 m² homes purchased for under €400,000. The cheapest parish is Beato, where the average housing cost is €3,197/m², followed by Santa Clara (€3,267/m²) and Olivais (€3,500/m²).
Homes for sale in Porto are 30% cheaper than in Lisbon
There are significant differences in property prices between Portugal’s two largest cities: Lisbon and Porto. Buying a home in Porto had a median cost of €2,992/m² in the year up to June, making it approximately 30% cheaper than purchasing a property in the capital.
Furthermore, all seven parishes in Porto have prices below €4,000/m². The most expensive area is the one encompassing Foz do Douro (€3,979/m²), followed by the historic centre of Porto (€3,232/m²). The most affordable areas are Ramalde, Paranhos, and Bonfim, where a 100 m² home cost less than €290,000.
Even so, it is worth noting that property prices in Porto continue to rise year after year, increasing by 12% in the last 12 months. The parish with the most significant price hike during this period was Campanhã (+52%), an area undergoing residential growth. Meanwhile, in Lordelo do Ouro and Massarelos, housing prices have remained virtually unchanged.
