Average increases in price of homes slows in Lisbon

The recent galloping increases in residential house prices in the Lisbon area appears to be slowing according to data for the second quarter released this week.

The cooling down was seen in seven out of 24 municipalities nation-wide with over 100,000 inhabitants, particularly in Lisbon, where the like-for-like variation rate in Q2 was 7.6%, down by 6.1 percentage points (p.p.) on the previous quarter.
The average price of family homes in Lisbon was set at €3,786 per m2. Despite the slower increase in higher prices, Lisbon continues to be the most expensive area of Portugal to buy a house, followed by Cascais, with €3,491m2 according to the National Statistics Institute. (INE)
The INE also highlighted slow downs in Gondomar (-2.4 p.p.) and Santa Maria da Feira )-1.4 p.p.). In Portugal the average price of a house was set at €1,494 per m2 in the second quarter, an increase of 17.8% like-for-like on 2021 and (+0.6 p.p.) according to the Local Level Housing Price Statistics published by the INE on Tuesday.