Demand for homes under €308,000 sees uptick outside major city centres

Demand for housing continues to rise in Portugal, but many house-hunters are focusing their searches on municipalities where the average target price is below €308,488 — the national average recorded over the last three months.

Data from online estate agency Imovirtual shows that, despite the widespread increase in demand, markets outside major urban centers are gaining interest precisely because they combine lower average budgets, more space, and property types suitable for families.

Over the past three months, national demand for apartments and houses for purchase grew by 147% compared to the same period last year, rising from 170,000 to 422,000 searches. During this same period, the average target price rose by 14.2%, from €270,198 to €308,488.

Against this backdrop, any municipality with an average target price below €308,488 falls below the national average for the demand analysed. It is precisely in these markets that some of the most significant growth is being observed.

Notable among the municipalities with the highest growth is Vale de Cambra (in the Aveiro district), with a 438% increase in searches and an average target price of €164,824—46.6% below the national average. Next are the Azores (+432% and an average target price of €290,714, or 5.8% below the national average), Valença (+356% and €203,716, or 34% below the national average), and Paços de Ferreira (+292% and €281,417, or 8.8% below the national average).

Castelo de Paiva also shows significant growth, with a 284% increase in searches and an average target price of €252,602—approximately 18% below the national average.

Source and image: Imovirtual