The price of houses for sale in the Algarve rose 8.7% in August compared to the same period last year, reaching a median value of 4,202 euros per square meter. Faro recorded an even more pronounced rise of 18.3%, being the district capital where prices appreciated the most in the last year, according to the price index of the idealista portal.
This evolution places the Algarve as the second most expensive region in the country to buy a house, only behind the Metropolitan Area of Lisbon, where the median price reached 4,457 euros/m². The Autonomous Region of Madeira ranks third with 3,796 euros/m². Nationally, house prices rose 7.5% in August, settling at 3,207 euros/m².
Among the district capitals analyzed, Faro recorded the highest annual appreciation, followed by Guarda, Bragança, Beja, and Portalegre. Despite the strong rise in Faro, Lisbon remains the most expensive city in the country, with a median price of 6,227 euros/m², followed by Porto, Funchal, and Faro.
Among districts and islands, Faro recorded an appreciation of 8.7%, below the highest rises seen in Santarém, Pico island, Terceira island, and Évora. Nevertheless, the Algarve district remains the second most expensive in the country, behind only Lisbon.
