Fall 2021 could be a great opportunity to buy a home in Portugal. Why? Because for example the last 2 years have really hit the tourist industry in Portugal and many apartments and houses for rent in Portugal have been put up for sale. Is the current pandemic situation affecting property prices in Portugal and what is the situation with the value of apartments and houses in the so-called “Greater Lisbon”, which includes not only the capital, but also its surroundings? In this article we will answer all these questions and give you a brief insight into the prices of different categories of property in the Lisbon area in November 2021.
Then first of all you should read our article on the nuances of buying property in Portugal. If you have decided to buy a house or an apartment in Portugal on your own, we recommend you to constantly monitor the current offers on the following most popular real estate websites in the country:
In order to understand what is currently happening with the prices of houses and apartments in the greater Lisbon area, let us use a very handy tool from Idealista. This tool will allow you to follow the evolution of property prices and see how much on average a square meter in a specific city or region in Portugal costs.
Using this tool to analyze prices in the Lisbon region, we find that the price per square meter in the region in autumn 2021 is 3 660 euros, with a value of +12.1% higher than last year’s fall. Interestingly, the cost per square meter in Lisbon in autumn 2021 has increased even compared to the summer of the same year (we did an analysis of property prices in Lisbon in summer 2021 here).
As we can see in the chart above the level of property prices in the Lisbon area over the past 5 years has only increased and in fact the last 2 years, with the difficult situation in tourism due to the pandemic has not stopped this growth, but only slowed it down a little. You can learn more about the causes of this situation in this video with a realtor in Portugal. Today in this article we will try to find the best options to buy a house or apartment in the area of Lisbon in autumn 2021.