Lisbon has once again taken centre stage in Portugal’s housing market, recording the highest median property value per square metre in the country. According to bank appraisals published Pordata in 2024, the median value in Lisbon is now € 3,826 per square meter, up from € 3,113 per square meter in 2021, a rise of almost 23%.

What the Numbers Reveal

• 2021 vs 2024: In just three years, Lisbon property values have seen a major jump, nearly a one-quarter increase in the cost per square metre.
• Highest in the country: Lisbon remains at the top among Portuguese municipalities when it comes to median housing value.
• Other extremes: While Lisbon is most expensive, municipalities like Celorico da Beira remain at the opposite end of the spectrum, with a median value per m² of just €574

Why It Matters

• Pressure on buyers & renters: This kind of increase puts meaningful strain on anyone trying to buy or rent in Lisbon, especially those on more modest incomes.
• Bank appraisals vs market price: Bank appraisals are one benchmark, but sometimes property purchase prices or asking prices exceed these figures, especially in high-demand areas.
• Signal for investors & policymakers: Such growth trends draw investor interest but also highlight the need for housing policies to ensure affordability.