Throughout 2025, the Portuguese real estate market maintained an upward trajectory, although with different behaviours between the purchase and rental segments. Buying a house became substantially more expensive, while rent grew more moderately on a national scale, but with significant increases in several areas outside the main urban centres.

In the sales segment, the average advertised price increased from €350,000 in 2024 to €420,000 in 2025, representing an annual growth of +20%, corresponding to an increase of approximately €70,000. This increase was across most of the country and reflects the combination of supply shortages, persistent demand, and structural appreciation in various regional markets.

In rentals, the national average value rose from €1,250 to €1,300, translating into a more contained increase of +4% (+€50 compared to 2024). Despite this moderate variation in the national aggregate, the data reveal significant shifts in market pressure, with more pronounced increases in districts that historically had more affordable rents.

Property rentals

In 2025, rental growth was less concentrated in large centres and more visible in intermediate and peripheral markets. Guarda stood out as the district with the highest annual increase, with the average value rising by 31%, from €400 to €525. São Miguel, in the Azores, also recorded a significant increase of 25%, rising from €800 to €1,000.

In the North, Vila Real showed one of the highest appreciations in the country, with growth of 22%, going from €490 to €600, while Bragança rose 15%, to €550. Aveiro maintained a more moderate growth trajectory (+6%, to €900), while Porto was one of the few districts to register an annual decrease, going from €1,200 to €1,150.

In the Central region, in addition to Guarda, Santarém saw a 7% increase, reaching €800, and Leiria rose to €827.5 (+3%). Lisbon, despite remaining the most expensive district in the country for renting, showed a practically stable evolution, with a residual variation of +0.3%, settling at €1,655, signaling a stabilization at high levels.

In the South, the pressure on rent remained particularly visible in Faro, where the average value rose 14%, from €1,100 to €1,250, and in Évora, which recorded an increase of 13.5%, to €965. Conversely, Beja showed a slight annual decrease (-3%), while Setúbal and Portalegre remained stable.

In the islands, Madeira reinforced its position among the most expensive markets in the country, with the average rental value rising 10% to €1,650, while several islands maintained stable values ​​throughout the year.

Property sales

In the purchase market, the appreciation was more intense and widespread. Lisbon remained the most expensive district on the mainland, with the average advertised price rising 30%, from €499,000 to €650,000, representing an absolute increase of €151,000.

Also in the Central region, Santarém stood out with a 30% increase, rising from €185,000 to €240,000, while Coimbra rose 24% to €260,000. Leiria and Viseu also recorded significant increases, reinforcing the trend of appreciation outside the major metropolitan centers.

In the South, growth remained solid. Beja recorded one of the highest increases in the country (+30%), rising from €145,000 to €189,000, while Portalegre climbed 21% to €120,000. Faro consolidated its position among the most expensive markets, with the average price reaching €530,000 (+19%), and Setúbal appreciated by 20%, settling at €460,000.

In the North, Braga (+17%) and Aveiro (+16%) led the regional price increases, while Porto rose 13% to €404,250, remaining the most expensive district in the region. Bragança was the only district in the country to register an annual drop in the average selling price (-5%), settling at €115,000.

In the autonomous regions, the evolution of average prices was marked by significant increases in the markets with the greatest weight and dynamism. Madeira Island recorded an increase of +19%, rising from €485,000 to €575,000, while Porto Santo showed an increase of +37%, settling at €480,000. São Miguel stood out with an increase of +35%, reaching €390,000. These results reflect the combination of consistent demand, tourist attractiveness and structural supply limitations, which continue to put pressure on the average prices announced in the main island markets.

“What the 2025 data shows us is an increasingly fragmented and unequal market, where the pressure on buying remains high, forcing demand to redistribute to other territories. Appreciation is no longer a phenomenon exclusive to large urban centres and is beginning to reflect a structural change in the way Portuguese people look for a home, whether out of necessity or to adapt to the limitations of supply,” emphasises Tiago Ferreira, Head of Operations Real Estate Portugal, Imovirtual & OLX.

The 2025 annual barometer confirms a real estate market that is strongly pressured in the purchase segment, with an average appreciation of +20%, and rentals that are growing more restrainedly, but with clear signs of demand shifting to traditionally more affordable territories.

The overall reading points to an increasingly heterogeneous market, where appreciation is no longer limited to the usual districts and where regional asymmetries continue to mark price evolution.