The price of housing in the Algarve edged up by 0.6% during the first quarter of 2019, now standing at an average of €2,072 per square metre, according to the Idealista price index.
The highest price increase in the Algarve was in Aljezur, up 7.7%, followed by booming Olhão and Portimão, both up 4.6% followed by Vila Real de Santo António, up 4.5%.
The most expensive Council area in which to buy house is Lagos at €2,578 per square metre followed by Loulé at €2,372 m2.
The most reasonable remains Monchique at €1,223 per m2, Castro Marim at €1,578 per m2 and Olhão €1,609 per m2.
Nationally, the most expensive regions are led by Lisbon at €3,002 per m2, followed by Faro at €2,072 per m2 and Porto at €1,728 per m2.
For bargain hunters that don’t mind having their extremities frozen off in the winter, the cheapest prices are in Guarda €615 per m2, followed by Bragança at €676 per m2 and Castelo Branco where it costs an average of only €680 per m2 to own a property.
Lisbon continues to be the city where it is more expensive to buy a house, €4,263 per m2. Porto at €2,677 per m2 and Faro at €1,753 per m2 come in second and third.
The most economical cities are Guarda €674 per m2, Castelo Branco at €682 per m2 and Vila Real at €691 per m2.
According to a statement from the Idealista website, new calculation formulae have been introduced which give a greater degree of precision in the analysis of price developments.
