Location of high-end real estate properties?
In the Portuguese real estate market, a distinct trend emerges when it comes to luxury properties. As of July 1st, a total of over 16,000 properties were listed with prices above one million euros. Among these, the districts with the most expensive homes priced above €3 million are primarily Lisbon, Faro, and Porto, which together account for 77% of all properties above this price threshold.
Lisbon, the capital city, leads significantly, holding 40.2% of luxury listings priced above €1 million, with many properties well above €3 million. Greater Lisbon, including Lisbon city and nearby municipalities such as Cascais and Oeiras, remains the most expensive market overall. Lisbon city averages €4,492 per square meter, while Cascais and Oeiras follow closely with €4,477 and €3,983 per square meter, respectively.
Faro, located in the Algarve region, comes next with 25.1%, followed by Porto at 12%. Setúbal, another affluent area, represents 7.2% of the high-end property market. Madeira Island, Braga, Leiria, and several other districts also have notable shares of homes priced above €1 million, although their proportion of houses over €3 million is smaller compared to the top three districts.
Madeira Island, with 78 listings of luxury homes costing over three million euros, represents 3.2% of the total, while Porto has 97 listings, accounting for 4% of the total. Faro has 667 listings of luxury homes costing over three million euros, representing 27.5% of the total.
Terceira Island, Pico Island, Porto Santo Island, Saõ Jorge Island, and Faial Island did not have any luxury homes advertised with a price above three million euros on July 1. Braga is the sixth district with the most properties priced at over one million euros, representing 1.8% of the total, and Leiria has 1.2% of the total luxury properties in Portugal.
Aveiro, Santarém, Évora, Viana do Castelo, Beja, Saõ Miguel Island, Coimbra, Portalegre, Viseu, Vila Real, Castelo Branco, Bragança, and Guarda each have less than 1% of the total luxury properties. The share of these districts/islands in the national total for the luxury property market is insignificant compared to the top three districts.
In conclusion, the luxury housing market continues to have a high concentration in Lisbon, Faro, and Setúbal for homes priced over three million euros. These areas form Portugal's luxury property hubs, with the rest of the country mostly having far lower prices.
- Terra in Portugal, Lisbon, the capital city, holds a significant portion of luxury homes priced above three million euros, with many properties listed within the home-and-garden sector.
- The Algarve region, particularly Faro, is another region with a significant number of luxury homes priced above three million euros, making it a popular destination for those seeking high-end property lifestyle in Portugal.
