The median price of the 37,854 homes sold in Portugal rose 18.4% year-on-year in the second quarter of 2026, reaching €2,445 per square metre, according to Statistics Portugal (INE). Prices rose quarter-on-quarter as well, up 4.6% from the first three months of the year, even as the number of transactions fell 9.0% from the same quarter in 2025.
Median prices increased year-on-year across all 26 NUTS III sub-regions. The largest rises were in Médio Tejo (25.4%), Oeste (24.0%), Lezíria do Tejo and the Azores (both 23.9%), and the Setúbal Peninsula (22.2%). Greater Lisbon (€4,030/m²), the Algarve (€3,500/m²), the Setúbal Peninsula (€3,069/m²), Madeira (€2,816/m²) and the Porto Metropolitan Area (€2,669/m²) remained the five sub-regions priced above the national median.
The number INE flagged for foreign buyers: in Greater Lisbon, the median price per square metre paid by buyers whose tax residence is abroad was 47.0% higher than the price paid by buyers tax-resident in Portugal. In the Porto Metropolitan Area, the foreign-buyer premium was 37.5%. INE’s data covers the 12 months to June 2026 as well — 156,713 homes sold nationally at a median €2,264/m², up 17.7% from the 12 months to June 2025.
For anyone comparing listing prices against what INE calls the median transaction price, the gap matters most in the markets foreign buyers already favour: Lisbon, the Algarve and Porto are the three sub-regions where that foreign-buyer premium shows up most clearly in the official data.
