House prices in the Alentejo region of Portugal have seen a significant increase of 7.7% in November 2024 compared to the same month last year, according to the Idealista real estate price index. This rise reflects a broader trend across the country, where the average cost of housing has surged by 10% over the past year.
Key Property Facts
- Alentejo’s housing prices rose by 7.7% in November 2024.
- Évora experienced the highest increase at 15.1%, reaching €2,336 per square meter.
- The average price in Alentejo is €1,648 per square meter, making it one of the more affordable regions in Portugal.
- Nationally, the average cost of housing is now €2,783 per square meter.
Overview of Price Increases
The increase in Alentejo’s housing prices is part of a national trend where all 20 district capitals have reported rising costs. The overall average price for purchasing a home in Portugal has reached €2,783 per square meter, marking a 10% increase from the previous year. This surge is attributed to several factors, including a decrease in mortgage interest rates and improved purchasing power due to stabilized inflation.
Regional Highlights
Among the district capitals in Alentejo:
- Évora: €2,336/m² (15.1% increase)
- Beja: €1,043/m² (8.9% increase)
- Portalegre: €825/m² (5.7% increase)
Évora stands out as the most expensive city in the region, while Portalegre remains one of the most affordable options in the country.
National Trends
The rise in housing prices is not limited to Alentejo. The following cities have also seen significant increases:
- Vila Real: 19.5%
- Ponta Delgada: 18.2%
- Leiria: 17%
- Évora: 15.1%
- Coimbra: 13.3%
Lisbon continues to be the most expensive city for homebuyers, with prices averaging €5,685 per square meter, while Guarda remains the most affordable at €708 per square meter.
