According to the analysis of supply and demand of real estate in Portugal, undertaken by the property platform Idealista, five of the municipalities with the most expensive properties per square metre belong to the district of Faro.
With the price per square metre highest in Lisbon and Cascais (Greater Lisbon), in 6th place is Loulé, at €2,869/m2, followed by Lagos (€2,757/m2), Vila do Bispo (€2,614/m2, Lagoa (€2,560/m2) and Albufeira (€2,370/ m2).
In terms of the cost of property as a whole, Loulé was the second-most expensive municipality in which to purchase a house (€565,495), behind Cascais (€764,222) and ahead of Grândola (€555,671) and Lisbon (€494,489).
A shift from the cities
The results reflect a shift in demand from buyers during the COVID-19 pandemic, which saw more interest in larger properties and away from the country’s busiest cities, such as Lisbon and Porto.
Boasting large properties and plenty of outdoor space, and considered one of the safest destinations to visit this year (read more here), it’s no wonder that the Algarve remains a leading choice for potential house-buyers.
For expert advice on getting the best deal on a property in the Algarve, get in touch with the team at Algarve Home Sales here.
