Portugal's median house price reached 2,337 euros per square metre in the first quarter of 2026, a 19.8% increase from the same period a year earlier, while the volume of homes sold fell, extending a trend of rapid appreciation against softening demand.
A total of 40,163 property transactions were recorded in the first three months of the year, a 10.5% decline compared with the first quarter of 2025. Housing prices accelerated in 11 of the 24 municipalities with more than 100,000 residents. Lisbon remained the country's most expensive market, with a median price of 5,292 euros per square metre in the quarter.
The latest figures build on a record-breaking 2025, when residential property sales totalled 41.2 billion euros, the highest since 2009, and the annual median price rose 16.8% to 2,076 euros per square metre.