Portugal’s median asking price for homes reached a record €3,249 per square metre at the end of October, up 7.5% on a year earlier, according to idealista’s price index. Lisbon remained the most expensive city, but the sharpest annual increases were elsewhere.

Prices rose by 1.2% over the quarter. Annual increases were recorded in all 20 locations analysed across the district capitals and autonomous regions, showing that the rise extended beyond the highest-priced markets.

Vila Real recorded the largest annual increase, at 20.3%, followed by Guarda at 18.4%, Beja at 17.6%, Leiria at 16.9% and Faro at 15.5%. Each rose at more than twice the national rate.

The distinction between price levels and price growth matters for buyers: the most expensive location is not necessarily the one where asking prices are climbing fastest. Lisbon’s median stood at €6,248 per square metre, with Porto and Funchal next in the city rankings. Castelo Branco remained the cheapest city, at €1,119 per square metre.

The regional figures showed a similarly wide gap. The Lisbon Metropolitan Area remained the most expensive region, with a median of €4,525 per square metre, followed by the Algarve and the Autonomous Region of Madeira. The Centre region was the least expensive, at €1,810 per square metre.

These figures measure what sellers are asking, rather than the prices agreed in completed sales. They establish a broad rise in advertised prices, alongside substantial geographical differences, but do not show how much buyers ultimately paid.