The national median is about 2,076 euro per m², Lisbon city 4,875, the Algarve 3,139 and Porto metro 2,305, with prices still rising. Non-residents add roughly 10% in taxes and fees.
Portugal is one of the fastest-appreciating housing markets in the EU, and the price you pay depends heavily on where you buy. According to INE, the national median price for family housing was about 2,076 euro per m² in 2025, up 16.8% on 2024. Grande Lisboa is far above that, the interior far below. This guide gives the regional picture as of October 2026 and the full cost of buying as a non-resident.
Price per m² by region and city
These are INE annual medians for 2025 (family housing, all transactions). Quarterly figures run higher because prices kept rising.
- Portugal overall: about 2,076 euro per m².
- Grande Lisboa: about 3,439 euro per m². Lisbon city is about 4,875, Cascais about 4,550 and Oeiras about 4,187.
- Algarve: about 3,139 euro per m². Loulé is about 3,993 and Lagos about 3,801.
- Península de Setúbal: about 2,596 euro per m².
- Madeira: about 2,500 euro per m².
- Porto metropolitan area: about 2,305 euro per m².
Foreign buyers pay more than locals in premium locations: INE data show about 6,026 euro per m² paid by foreign purchasers in Lisbon against about 4,813 for domestic buyers, because they concentrate on central and prime stock. In 23 of the 24 most populous municipalities, new housing has a higher median price than existing housing.
The trend in 2026
The INE housing price index rose 17.8% year on year in Q1 2026 and 16.5% in Q2 2026, the slowest pace since early 2025. That is deceleration, not a fall. The Q1 figures, and the 8.7% drop in sales, are in our note on Portugal house prices in Q1 2026. Idealista's asking-price series shows a slower rise, about 8.9% in the year to June. Official medians are based on registered deals and asking prices on listings, so the two will not match.
Rising prices with flat rents mean falling yields; see rental yield in Portugal.
What buying really costs
For a non-resident the main items are as follows.
- IMT, the property transfer tax. Since 25 May 2026 a flat 7.5% applies to residential purchases by buyers who are not Portuguese tax residents, replacing the progressive scale. There are exceptions: buyers who are already tax resident, who become tax resident within two years, or who let the property at a moderate rent (up to 2,300 euro a month, within six months of purchase and for at least 36 months in the first five years). If an exception is met afterwards, the difference can be reclaimed within six months. The deed date decides which rules apply, so confirm it with your lawyer.
- Stamp duty: 0.8% of the price.
- Notary and land registry: roughly 1,200-2,000 euro in total, depending on the deal.
- Lawyer: roughly 3,000-4,500 euro or 1-2% plus 23% VAT. In Portugal the agent's commission is normally paid by the seller; confirm this in your agency agreement.
- A Portuguese tax number (NIF), required before signing.
Tax residents pay IMT on a progressive scale (lower for a main home, higher for a second home), so run the official IMT simulator for your case.
Budget example for a non-resident, 300,000 euro apartment
IMT at 7.5% is 22,500 euro and stamp duty at 0.8% is 2,400 euro, together 24,900 euro. Add notary and registry of about 1,200-2,000 euro and legal fees of about 3,000-4,500 euro. The total is about 29,100-31,400 euro, or roughly 9.7-10.5% on top of the price, so the real outlay is about 329,000-331,000 euro. These are indicative ranges.
What you pay every year
Annual IMI is set by the municipality, roughly 0.3-0.45% of the property's tax value, which is often below market price. A surcharge, AIMI, applies above about 600,000 euro of tax value per person. Add condominium fees and insurance. When you sell, see capital gains tax on sale in Portugal. For the full picture of owning abroad, see total cost of ownership abroad.
New build or resale
New housing usually costs more per m² but may come with better energy performance and fewer repairs; resale is cheaper and negotiable but needs thorough checks. See new build vs resale in Portugal, the resale due diligence checklist and where to buy.
FAQ
How much is a house in Portugal? The national median is about 2,076 euro per m² (2025). A 70 m² flat is about 145,000 euro at the national median, about 240,000 euro at the Grande Lisboa median and about 341,000 euro at Lisbon city's median. These are simple multiplications, not asking prices.
Is Portugal cheaper than Spain or Greece? It depends on the city; see Spain vs Portugal and Portugal vs Greece.
Are prices still rising? Yes: +16.5% year on year in Q2 2026 per INE, though slower than in Q1.
Do I need a mortgage in Portugal? Not necessarily; see mortgages for foreigners.
How we help
We shortlist by budget and goal, show real transaction-level price levels for each area, model the full acquisition cost including the non-resident IMT, and coordinate local lawyers. Start on the Portugal page.
Informational only, not legal, tax or investment advice. Prices and rules are indicative, as of October 2026, and change; confirm the current IMT and costs with a Portuguese lawyer before you commit.