Of the largest municipalities, only Santa Maria da Feira, Braga, Vila Nova de Gaia, Barcelos and Maia saw a slowdown in house prices compared to the rate seen in the previous quarter.

In the case of the Madeiran capital, which led the increases, prices grew by over 50%, reflecting an increase of 42 percentage points in the median price per square meter compared to the rate in the third quarter. In Gondomar prices rose more than 20%. Three more municipalities had growth above the national average, which was 15.5%, the highest since the third quarter of 2022, according to INE: Guimarães, Barcelos and Oeiras.

When it comes to the country's two main cities, Lisbon is the municipality with the highest prices, with the square metre being 4,340 euros — Cascais (4,053 euros per square metre), Oeiras (3,471 euros) and Lagos (3,452 euros) also saw values ​​above 3,400 euros per square metre. In Porto, prices rose 6.3% to 3,011 euros per square metre.

The INE also reveals that in 2024 the median price of family accommodation in Portugal was 1,777 euros per square metre, taking as a reference the more than 151 thousand sales made throughout last year, which corresponds to an increase of 10.3% compared to the previous year.

Greater Lisbon (2,939 euros), Algarve (2,552 euros), Autonomous Region of Madeira (2,395 euros), Setúbal Peninsula (2,117 euros) and Porto Metropolitan Area (1,986 euros) recorded values ​​higher than the national average.

In the period under analysis, 54 municipalities had a median price higher than the national value, mostly located in the Algarve sub-regions (14 of 16 municipalities), Greater Lisbon (all 9 municipalities), Setúbal Peninsula (8 of 9 municipalities) and Porto Metropolitan Area (7 of 17 municipalities).

The municipality of Lisbon recorded the highest number of family home transactions, with 8,300 sales. Next come Sintra (5,817), Vila Nova de Gaia (5,394) and Porto (4,564).