House prices up 13.6% in February

House prices are continuing to go up in Portugal and are set to continue going up throughout 2025 according to Confidential Imobiliário.

In February prices registered the largest increase like-for-like since September, 2023, at 13.6%.

“I cannot rule out March seeing prices going up at an even higher rate,” said Ricardo Guimarães, director of Confidencial Imobiliário. “I should emphasise that this rate of appreciation is taking place for properties whose values are already very high”.

Sales made in the last three months on mainland Portugal revealed that the average price per square meter stood at €2,634. Ricardo Guimarães points out that the national increase is the result of asymmetrical variations.

“The cheapest places to buy a house are the ones that are experiencing the biggest price increases. At the end of 2024, Lisbon had an appreciation of 5.5%, yet prices in Santarém soared by 17.9%”, he illustrated.

The financial rating agency DBRS has predicted that house prices in Portugal will continue to grow, albeit at a slower pace, due to strong demand, lack of new build, high foreign interest, but also the effects of falling interest rates on mortgages.