Portugal Luxury Homes and villas

Property prices in Portugal rose by 1.81% during the year to March 2015, to an average price of €1,011 per square metre, based on figures released by Statistics Portugal. 

In Lisbon metropolitan area, property prices were up by 4.32%y-o-y in March 2015, to an average of €1,231 per sq. m. In Porto metropolitan area, house prices rose by 2.59% during the year to March 2015, to an average of €951 per sq. m. 

Among urban areas Vila Nova de Gaia had the highest annual house price increase of 7.67%, followed by Setúbal (7.51%), and Vila Nova de Famalicão (7.06%). Other notable house price increases were recorded in Sintra (5.03%), Lisboa (4.12%), Almada (2.98%), Vila Franca de Xira (2.53%), Matosinhos (2.19%), and Barcelos (2.08%).

The municipalities with the largest annual house price declines were Oeiras, with a drop of 4.59%. Other municipalities struggling include Coimbra (-3.95%), Cascais (-3.61%), Leiria (-3.35%), and Funchal (-3%). 

There are no restrictions on foreign property ownership in Portugal and transaction costs are generally low. Portugal will grant a 5-year residency permit to non-EU citizens who buy a minimum of €350,000 worth of property.

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