The most expensive place to buy a house in Portugal: top 5 areas

Portugal’s housing market is still inching upward, and the gap between everyday prices and the most expensive places to buy property in Portugal has grown stark. At the very top end, a handful of central Lisbon parishes and coastal Cascais are trading at premium levels, with select micro‑areas nudging past €8,000 per m². 

Portugal property prices in October 2025

As of October 2025, the national median property price sits at €2,970 per m². Among major cities, Lisbon leads at €5,886 per m², with Funchal at €3,907 per m² and Porto at €3,844 per m². 

Across the Lisbon Metropolitan Area, the average stands at €4,151 per m², and the wider Lisboa district leads the national table at €4,487 per m². To give you an idea of how this compares to other areas, Alentejo property prices average €1,904 per m², and some of the cheapest areas to buy property in Portugal have averages of under €750 per m².

Cascais Unsplash

The top 5 most expensive places to buy in Portugal 

According to idealista's price evolution report for October 2025, four of the five priciest markets are central Lisbon parishes, with micro‑areas inside them pushing even higher. The outlier is coastal Cascais, which holds its own against the capital.

1. Santo António (Lisbon): €7,289 per m²; micro‑area: São Mamede (within Santo António) €8,048 per m²
2. Avenidas Novas (Lisbon): €6,916 per m²; micro‑area: São Sebastião da Pedreira €7,311 per m²
3. Misericórdia (Lisbon): €6,788 per m²; micro‑area: Cais do Sodré – São Paulo €7,446 per m²
4. Estrela (Lisbon): €6,759 per m²; micro‑area: Lapa €7,040 per m²
5. Cascais: €6,708 per m²

Why these lead:

• Scarce prime stock in walkable, historic areas.
• River or sea views, and protected sightlines.
• Period architecture, high‑grade refurbishments and concierge buildings.
• Terraces and parking that are rare in older cores.
• Proximity to culture, dining and international schools.

Lisbon’s four ultra‑prime parishes

Lisbon concentrates four of the top five thanks to its walkable centre, Tejo river views, and tight planning rules that keep new supply thin. The city centre is home to some of the most expensive streets in Portugal when it comes to purchasing property. Therefore, it's no surprise that Lisbon's luxury property market outpaces global trends this year.

Lisbon. Pedro S Bello, CC BY-SA 4.0 Creative commons

Santo António (Lisbon)

This is the current peak of the market. The parish average is €7,289 per m², and São Mamede—now part of Santo António after the parish reorganisation—pushes to €8,048 per m².

• What sells: trophy refurbs and penthouses near Avenida da Liberdade, often with terraces, parking and concierge services.
• Why it’s pricey: blue‑chip retail and dining, multiple metro lines, and extremely thin liquidity at the top end.

Avenidas Novas (Lisbon)

With an average of €6,916 per m², Avenidas Novas mixes wide boulevards and larger apartments. São Sebastião da Pedreira stands above the parish average at €7,311 per m².

• What sells: big floorplates in mid‑century blocks, lifts and garages, plus a new‑build premium around Parque Eduardo VII and El Corte Inglés.
• Who buys: families and professionals prioritising space and convenience, still within easy reach of the centre.

Misericórdia (Lisbon)

The parish average is €6,788 per m², while Cais do Sodré – São Paulo hits €7,446 per m².

• What sells: period buildings spilling over Chiado and Príncipe Real fringes, often with Tejo views and rooftop terraces.
• Trade‑offs: buzzy nightlife streets vs quieter lanes, and a wide spread in refurbishment quality.

Estrela (Lisbon)

Estrela averages €6,759 per m². Lapa—the embassy quarter—comes in at €7,040 per m².

• What sells: grand townhouses and river‑facing apartments near Basílica da Estrela and Jardim da Estrela.
• Why it’s pricey: calm, prestigious, and low turnover that keeps prices firm.

Outside Lisbon

Cascais averages €6,708 per m², powered by coastal living, international schools and strong second‑home demand. Ultra‑prime pockets like Monte Estoril and Gandarinha tend to set the local ceiling.

• Product mix: villas and townhouses in gated communities, with ocean‑view and parking premiums; a steady new‑build pipeline keeps a premium over older stock.
• Market notes: active summer‑shoulder rental market and year‑round appeal for commuters and remote workers.

What drives prices in Portugal’s most expensive places

At the top end, demand is both local and global, however, foreign demand is greatly affecting the property market in Lisbon and Porto at the moment.

International relocations and second‑home buyers compete for scarce historic stock, which pushes prices in central Lisbon and along the Cascais coastline. Heritage protections limit redevelopment, and there’s not much new land in these cores, so the best addresses stay tight.

Cais do Sodré . Vitor Oliveira, CC BY-SA 2.0 Creative commons

Nearby alternatives if the top five stretch the budget

You can still get much of the same lifestyle without paying ultra‑prime premiums by shifting a few streets or a few stops.

Lisbon spillover:

• Campo de Ourique for village vibes, cafés and solid period stock at softer prices.
• East‑west corridors in Arroios for good transport, diversity and more space for your money.

Check out the property for sale in Campo de Ourique for a slightly more affordable alternative.

Around Cascais:

• Carcavelos and Parede for coastal living on the same rail line, with a gentler price tag.
• Inland Alcabideche if you want larger plots and less tourist traffic.

Have a look at the property for sale in Carovelos and Parede for a slightly more affordable alternative.

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