Old build house prices soar 16% in Portugal

 In News, Property

Non new build property prices in Portugal rose 15.9% in June this year compared to the same period last year.

This is according to a property sales index published this week by Idealista. By comparison to the first quarter, house prices increased 4.5%, climbing to €1.93/m2.
In the annual comparison, the north of Portugal saw the greatest gains, with an overall increase of 23.8% on second hand properties.
In the Lisbon metropolitan area prices rose 15.6% in terms of annual variation and 6.5% in comparison between the second quarter and the first three months of the year.
The Idealista data shows that property prices have risen in all regions of the country except in the Azores (both in terms of annual like-for-like and in quarterly variation).
In the Greater Lisbon area, property prices had climbed noticeably in Amadora (24.5%) and Sintra (22.2%).
The cheapest areas to buy in the Lisbon area were Cadaval (€646/m2) and Sobral de Monte Agraço (€713/m2). These were the only two districts where there was a negative variation in prices like-for-like of-3.5% and -9.8% respectively.
At a national level, Porto and Aveiro are the districts that have seen the biggest house rises (23.7% and 17.5% respectively).
The lowest house prices are to be found in the interior of the country, however, in Guarda and Castelo Branco with prices per square metre less than €700.