Portugal records biggest EU rise in house prices in second quarter

Eurostat data shows Portugal recorded the EU's sharpest rise in house prices in Q2 2026 versus a year earlier. In September, national housing costs hit a fresh record high.

House prices are once again on the rise in Portugal, with the country hitting a new all‑time high in September.

According to the Idealista price index, (source in Portuguese) prices recorded a 7.9% increase in September compared with the same month last year. On a monthly basis, compared with August, prices also rose by 0.6% nationwide.

Data from the property sales and rental portal show that buying a home cost 3,228 euros per square metre (euros/m2) last month, based on the median price.

Vila Real (17.8%), Leiria (17.6%), Beja (14.4%), Faro (14.3%) and Guarda (14%) posted the steepest increases among district capitals and autonomous regions, with the Centro region leading the way in terms of regional price growth.

Aveiro (9.3%), Setúbal (9.1%), Porto (9%), Castelo Branco (9%), Ponta Delgada (7.1%), Funchal (5.3%) and Lisbon (4.4%) were the areas where prices rose the least.

Lisbon remains the country’s most expensive city in which to buy a home. The Portuguese capital has a median price of 6,256 euros/m2. The wider Lisbon region is also the priciest area to purchase housing, with a median price of 4,501 euros/m2.

Portugal posts the sharpest price rise in the European Union

Portugal is also breaking records at European level.

According to the latest Eurostat figures (source in Portuguese), the country recorded the biggest increase in the European Union in the second quarter of 2026 compared with the same period a year earlier.

"The largest increase was recorded in Portugal (+16.5%), followed by Bulgaria (+15.5%) and Lithuania (+14.3%)", the statement says, adding that Finland (-2.7%), Luxembourg (-2.2%) and France (-0.8%) were the only countries where prices fell.

Overall, in the second quarter of 2026, housing prices rose by 4.0% in the euro area and 4.7% in the EU, compared with the same quarter of the previous year.

Compared with the first quarter of 2026, house prices increased by 1.1% in the euro area and 1.2% in the EU during the second quarter of 2026.