In the 1st quarter of 2024, the median house price of dwelling sales in Portugal was 1,644 €/m2, corresponding to a year-on-year growth rate of 5.0% (7.9% in the previous quarter). Compared to the same period of the last year, the median house price increased in 19 of the 26 NUTS 3 sub-regions, with Baixo Alentejo standing out with the highest growth (28.5%).

The five sub-regions with the highest median house prices – Grande Lisboa, Algarve, Região Autónoma da Madeira, Península de Setúbal and Área Metropolitana do Porto, – also had the highest values in both categories of the purchaser's tax residence (national territory and foreign). In Grande Lisboa and Área Metropolitana do Porto, the median price (€/m2) of transactions carried out by purchasers with tax residence abroad exceeded the price of transactions by purchasers with tax residence in the national territory by 82.3% and 47.5%, respectively.

In the 1st quarter of 2024, the housing prices slowed down in ten of the 24 municipalities with more than 100 thousand inhabitants (18 in the 4th quarter of 2023). In the opposite direction, there was an increase in the year-on-year growth rates in 14 municipalities, most notably in Funchal with an increase of 17.6 percentage points (p.p.). The municipality of Porto recorded an increase of 3.6 p.p. and Lisboa of 0.5 p.p. The municipalities of Lisboa (4,190 €/m2), Cascais (3,881 €/m2) and Oeiras (3,281 €/m2) recorded the highest house prices.