Gold Standard

Portugal house prices in gold

Where the median sale price per square metre rose and where it fell, municipality by municipality, in gold and in US dollars.

From Q2 2021 to Q2 2026, 9 of 290 municipalities with a figure got more expensive in gold and 281 cheaper. Lajes do Pico rose most (+33.4 %) and Ribeira de Pena fell most (−72.9 %).

A full 10 years is unavailable in this source's comparison range.

−49.5 % or less0 %+33.4 % or more
No figure (18)
Azores inset

Change of the price per m² in gold. Full color at the 95th percentile of the falls; grey is no change.

Portugal overall

Portugal, median sale priceQ2 2021 to Q2 2026

▼ −21.1 %in gold

The published national series. Gold per square metre.

  • In gold−21.1 %
  • In US dollars+81.7 %
Portugal overall: Gold per square metreWhole history in grey, selected period in color. 19 g of gold per m² to 28 g of gold per m².

Whole history in grey · Selected period in color

Show as table
Prices and methodology
Latest Euros per m² (Q2 2026)
€2,264 per m²
Latest US dollars per m² (Q2 2026)
$2,641 per m²
Latest Grams of gold per m² (Q2 2026)
19 g of gold per m²
One-year change in gold (Q2 2026)
−16.1 %
One-year change in US dollars (Q2 2026)
+26.2 %

Each figure is the median price per square metre of the sales of the twelve months ending in that quarter. Changes compare the exact end quarters; the gold and dollar references are the mean of the quarterly averages of the quarter and the three before it, the same twelve months.

INE Portugal, median value of dwellings sales in the last 12 months (all dwellings, euros per square metre) · snapshot 2026-11-02

Rose most

9 municipalities rose

Fell most

281 municipalities fell

Show all 308 municipalities as a table
Change of the price per m² from Q2 2021 to Q2 2026, strongest rise first. 18 municipalities have no figure for this period.
MunicipalityDistrict or islandIn goldIn US dollars
Ilha do Pico+33.4 %+207.3 %
Santarém+13.5 %+161.4 %
Ilha da Madeira+11.8 %+157.6 %
Setúbal+11.5 %+156.8 %
Guarda+7.1 %+146.6 %
Setúbal+5.3 %+142.4 %
Castelo Branco+3.8 %+139.0 %
Ilha da Madeira+3.3 %+137.9 %
Ilha de São Miguel+0.5 %+131.5 %
Ilha de São Miguel−0.8 %+128.5 %
Santarém−0.8 %+128.4 %
Santarém−1.4 %+127.2 %
Santarém−1.5 %+127.0 %
Évora−1.7 %+126.5 %
Ilha da Madeira−4.0 %+121.2 %
Portalegre−4.0 %+121.0 %
Faro−4.2 %+120.7 %
Coimbra−4.3 %+120.5 %
Beja−5.0 %+118.9 %
Lisboa−5.1 %+118.6 %
Évora−5.1 %+118.6 %
Ilha de São Miguel−6.0 %+116.4 %
Ilha de Porto Santo−7.2 %+113.8 %
Santarém−7.5 %+113.1 %
Ilha da Madeira−7.7 %+112.6 %
Coimbra−7.7 %+112.6 %
Braga−7.9 %+112.1 %
Lisboa−7.9 %+112.1 %
Leiria−8.1 %+111.7 %
Lisboa−8.5 %+110.9 %
Guarda−8.6 %+110.6 %
Setúbal−8.8 %+110.1 %
Ilha da Madeira−9.4 %+108.6 %
Lisboa−9.8 %+107.7 %
Ilha da Madeira−10.0 %+107.3 %
Santarém−10.1 %+107.1 %
Leiria−10.3 %+106.7 %
Santarém−10.3 %+106.6 %
Viana do Castelo−10.8 %+105.5 %
Santarém−10.8 %+105.5 %
Setúbal−11.0 %+105.0 %
Santarém−11.0 %+105.0 %
Coimbra−11.4 %+104.1 %
Lisboa−11.4 %+104.1 %
Leiria−11.6 %+103.7 %
Setúbal−11.6 %+103.6 %
Lisboa−11.6 %+103.6 %
Setúbal−11.8 %+103.2 %
Porto−12.0 %+102.6 %
Leiria−12.4 %+101.7 %
Aveiro−12.7 %+101.2 %
Setúbal−13.1 %+100.2 %
Braga−13.3 %+99.7 %
Setúbal−13.5 %+99.3 %
Setúbal−13.5 %+99.3 %
Porto−13.7 %+98.8 %
Évora−13.7 %+98.7 %
Beja−14.0 %+98.0 %
Braga−14.5 %+97.0 %
Ilha de São Miguel−14.7 %+96.4 %
Santarém−14.8 %+96.4 %
Lisboa−14.8 %+96.2 %
Coimbra−15.2 %+95.2 %
Aveiro−15.5 %+94.6 %
Beja−15.6 %+94.4 %
Porto−15.7 %+94.3 %
Ilha de São Miguel−15.8 %+93.9 %
Porto−15.8 %+93.9 %
Leiria−15.8 %+93.8 %
Porto−16.2 %+93.1 %
Faro−16.6 %+92.1 %
Porto−16.9 %+91.4 %
Porto−17.2 %+90.6 %
Portalegre−17.4 %+90.2 %
Setúbal−17.5 %+90.0 %
Braga−17.5 %+90.0 %
Santarém−17.6 %+89.9 %
Leiria−17.9 %+89.2 %
Évora−18.2 %+88.4 %
Santarém−18.4 %+87.9 %
Aveiro−18.5 %+87.6 %
Leiria−18.6 %+87.6 %
Aveiro−18.6 %+87.4 %
Faro−18.6 %+87.4 %
Évora−18.8 %+87.1 %
Santarém−19.1 %+86.4 %
Viana do Castelo−19.1 %+86.3 %
Évora−19.2 %+86.2 %
Lisboa−19.3 %+85.9 %
Portalegre−19.4 %+85.6 %
Évora−19.4 %+85.6 %
Vila Real−19.7 %+85.0 %
Braga−19.8 %+84.7 %
Viana do Castelo−19.8 %+84.7 %
Castelo Branco−19.9 %+84.5 %
Faro−20.1 %+84.1 %
Aveiro−20.1 %+84.1 %
Braga−20.1 %+84.1 %
Santarém−20.1 %+84.0 %
Bragança−20.2 %+83.8 %
Porto−20.4 %+83.3 %
Braga−20.6 %+83.0 %
Porto−20.6 %+83.0 %
Vila Real−20.6 %+82.9 %
Aveiro−20.6 %+82.9 %
Faro−20.8 %+82.4 %
Aveiro−21.0 %+82.1 %
Lisboa−21.0 %+82.1 %
Viana do Castelo−21.0 %+81.9 %
Faro−21.1 %+81.7 %
Faro−21.2 %+81.6 %
Viana do Castelo−21.2 %+81.5 %
Santarém−21.2 %+81.5 %
Braga−21.6 %+80.5 %
Évora−21.8 %+80.2 %
Setúbal−21.8 %+80.1 %
Braga−21.9 %+79.9 %
Évora−22.0 %+79.8 %
Leiria−22.1 %+79.5 %
Faro−22.1 %+79.5 %
Aveiro−22.2 %+79.3 %
Lisboa−22.3 %+79.1 %
Porto−22.5 %+78.6 %
Aveiro−22.5 %+78.5 %
Santarém−22.7 %+78.1 %
Porto−22.7 %+78.0 %
Lisboa−22.7 %+78.0 %
Ilha da Madeira−22.8 %+77.9 %
Lisboa−23.1 %+77.1 %
Ilha Terceira−23.1 %+77.1 %
Coimbra−23.2 %+76.9 %
Lisboa−23.7 %+75.8 %
Porto−23.8 %+75.6 %
Santarém−23.8 %+75.5 %
Braga−23.9 %+75.2 %
Viseu−24.0 %+75.1 %
Ilha do Pico−24.0 %+75.1 %
Braga−24.1 %+74.7 %
Faro−24.2 %+74.6 %
Porto−24.2 %+74.6 %
Faro−24.3 %+74.4 %
Setúbal−24.3 %+74.4 %
Aveiro−24.6 %+73.6 %
Coimbra−24.7 %+73.6 %
Faro−24.7 %+73.5 %
Porto−24.8 %+73.3 %
Portalegre−24.9 %+72.9 %
Évora−25.0 %+72.8 %
Portalegre−25.1 %+72.6 %
Leiria−25.1 %+72.5 %
Viseu−25.1 %+72.5 %
Setúbal−25.7 %+71.1 %
Ilha da Graciosa−25.8 %+71.0 %
Ilha de São Jorge−25.8 %+71.0 %
Faro−25.9 %+70.7 %
Santarém−26.0 %+70.5 %
Portalegre−26.1 %+70.3 %
Viana do Castelo−26.1 %+70.3 %
Santarém−26.1 %+70.2 %
Castelo Branco−26.1 %+70.2 %
Faro−26.2 %+70.1 %
Beja−26.3 %+69.8 %
Leiria−26.3 %+69.8 %
Aveiro−26.4 %+69.6 %
Ilha da Madeira−26.5 %+69.3 %
Guarda−26.5 %+69.3 %
Braga−26.5 %+69.3 %
Portalegre−26.6 %+69.2 %
Faro−26.6 %+69.1 %
Ilha de São Miguel−26.6 %+69.1 %
Lisboa−26.6 %+69.1 %
Guarda−26.7 %+68.8 %
Portalegre−26.8 %+68.5 %
Coimbra−26.9 %+68.3 %
Portalegre−27.0 %+68.3 %
Ilha Terceira−27.0 %+68.2 %
Évora−27.1 %+67.9 %
Lisboa−27.2 %+67.6 %
Aveiro−27.3 %+67.4 %
Coimbra−28.1 %+65.7 %
Guarda−28.3 %+65.3 %
Portalegre−28.5 %+64.6 %
Bragança−29.1 %+63.2 %
Faro−29.1 %+63.2 %
Beja−29.2 %+63.2 %
Leiria−29.2 %+63.1 %
Guarda−29.3 %+62.9 %
Viana do Castelo−29.9 %+61.4 %
Viseu−30.1 %+61.0 %
Porto−30.2 %+60.7 %
Aveiro−30.3 %+60.5 %
Vila Real−30.3 %+60.5 %
Castelo Branco−30.5 %+60.1 %
Beja−30.6 %+59.9 %
Beja−30.6 %+59.8 %
Viseu−30.7 %+59.5 %
Porto−30.8 %+59.5 %
Castelo Branco−30.8 %+59.5 %
Portalegre−30.9 %+59.1 %
Braga−31.4 %+58.1 %
Viseu−31.9 %+56.9 %
Portalegre−31.9 %+56.8 %
Ilha do Faial−31.9 %+56.8 %
Faro−31.9 %+56.8 %
Viseu−32.0 %+56.7 %
Portalegre−32.0 %+56.6 %
Castelo Branco−32.5 %+55.4 %
Viseu−32.6 %+55.3 %
Vila Real−32.6 %+55.3 %
Porto−32.6 %+55.1 %
Aveiro−33.0 %+54.4 %
Viseu−33.3 %+53.6 %
Santarém−33.4 %+53.5 %
Guarda−33.9 %+52.2 %
Lisboa−34.2 %+51.6 %
Aveiro−34.2 %+51.5 %
Castelo Branco−34.4 %+51.1 %
Ilha da Madeira−34.5 %+50.8 %
Viana do Castelo−34.6 %+50.6 %
Braga−34.7 %+50.3 %
Vila Real−34.9 %+50.1 %
Évora−35.2 %+49.2 %
Leiria−35.3 %+49.0 %
Portalegre−35.5 %+48.6 %
Aveiro−35.5 %+48.5 %
Viseu−35.7 %+48.2 %
Aveiro−35.9 %+47.6 %
Leiria−36.0 %+47.5 %
Coimbra−36.1 %+47.2 %
Coimbra−36.2 %+46.9 %
Viana do Castelo−36.3 %+46.7 %
Leiria−36.6 %+46.0 %
Bragança−37.0 %+45.2 %
Beja−37.0 %+45.1 %
Guarda−37.3 %+44.5 %
Viseu−37.9 %+43.0 %
Guarda−38.1 %+42.7 %
Vila Real−38.1 %+42.5 %
Viseu−38.2 %+42.3 %
Aveiro−38.4 %+41.8 %
Viseu−38.6 %+41.5 %
Coimbra−38.6 %+41.3 %
Coimbra−38.8 %+40.9 %
Vila Real−38.8 %+40.9 %
Coimbra−38.9 %+40.7 %
Beja−39.3 %+39.8 %
Beja−39.7 %+38.8 %
Viseu−39.8 %+38.6 %
Vila Real−39.9 %+38.5 %
Beja−40.3 %+37.4 %
Évora−40.4 %+37.4 %
Viseu−40.5 %+37.0 %
Coimbra−40.6 %+36.8 %
Coimbra−40.8 %+36.3 %
Viseu−40.9 %+36.1 %
Évora−41.0 %+35.9 %
Guarda−41.0 %+35.9 %
Castelo Branco−41.3 %+35.2 %
Viseu−41.3 %+35.2 %
Guarda−41.6 %+34.6 %
Aveiro−42.2 %+33.2 %
Guarda−42.6 %+32.1 %
Bragança−42.7 %+32.1 %
Coimbra−43.2 %+30.9 %
Viana do Castelo−44.0 %+28.9 %
Viseu−44.1 %+28.7 %
Viseu−44.4 %+28.1 %
Porto−44.4 %+28.0 %
Castelo Branco−45.1 %+26.4 %
Guarda−45.5 %+25.6 %
Santarém−45.8 %+24.8 %
Portalegre−46.2 %+24.0 %
Viseu−46.9 %+22.2 %
Leiria−48.4 %+19.0 %
Vila Real−49.4 %+16.6 %
Beja−49.5 %+16.3 %
Vila Real−50.4 %+14.2 %
Leiria−50.6 %+13.7 %
Coimbra−50.8 %+13.2 %
Bragança−53.8 %+6.4 %
Vila Real−54.3 %+5.2 %
Bragança−54.3 %+5.2 %
Bragança−55.2 %+3.3 %
Viseu−55.7 %+2.1 %
Castelo Branco−56.6 %+0.0 %
Castelo Branco−57.3 %−1.6 %
Bragança−61.3 %−10.8 %
Viseu−62.9 %−14.6 %
Bragança−63.1 %−15.1 %
Vila Real−72.9 %−37.7 %
Vila RealNo dataNo data
BragançaNo dataNo data
Vila RealNo dataNo data
ViseuNo dataNo data
ViseuNo dataNo data
BragançaNo dataNo data
BragançaNo dataNo data
GuardaNo dataNo data
ViseuNo dataNo data
BejaNo dataNo data
BejaNo dataNo data
Ilha de Santa MariaNo dataNo data
Ilha de São JorgeNo dataNo data
Ilha do PicoNo dataNo data
Ilha das FloresNo dataNo data
Ilha das FloresNo dataNo data
Ilha do CorvoNo dataNo data
Ilha da MadeiraNo dataNo data

In numbers

From Q2 2021 to Q2 2026, 9 of 290 with a figure rose and 281 fell in gold; in US dollars 285 of 290 with a figure rose and 5 fell. In gold Lajes do Pico rose most (+33.4 %) and Ribeira de Pena fell most (−72.9 %).

In Q2 2026 the median sale price in Portugal was €2,264 per m², 19 g of gold or $2,641, each at the reference of the twelve months to that quarter. Over the latest year, comparing Q2 2026 with Q2 2025, it changed −16.1 % in gold and +26.2 % in US dollars.

The map shows the 308 municipalities of Portugal, with Madeira and the Azores in insets that are not to scale. The selectable history runs from Q4 2019 to Q2 2026: 27 quarters, so a ten-year period is not available. For the default five-year selection, 290 municipalities have a figure in gold and 18 have none.

Questions about house prices in Portugal

Which Portuguese municipality had the strongest change in house prices in gold?

Lajes do Pico rose 33.4 % in gold from Q2 2021 to Q2 2026, while Ribeira de Pena fell 72.9 %.

In how many municipalities did homes get more expensive in gold?

From Q2 2021 to Q2 2026, 9 of 290 municipalities with a figure got more expensive in gold and 281 cheaper. In US dollars 285 got more expensive and 5 cheaper.

How did house prices in Portugal change in gold overall?

Statistics Portugal's national median sale price fell 21.1 % in gold and rose 81.7 % in US dollars from Q2 2021 to Q2 2026. In Q2 2026 the median sale price in Portugal was €2,264 per m², 19 g of gold or $2,641, each at the reference of the twelve months to that quarter. Over the latest year, comparing Q2 2026 with Q2 2025, it changed −16.1 % in gold and +26.2 % in US dollars.

Is this a price index?

No. Each figure is the median price per square metre of the dwellings sold in the twelve months ending in that quarter, as Statistics Portugal (INE) publishes it for all dwellings. It is not a price index adjusted for quality and not the median of the quarter alone. A small municipality has few sales, so its figure can move strongly from one quarter to the next. The latest quarter is shown as INE published it.

Source and method

All 308 municipalities are shown from Q4 2019, the first quarter INE publishes; a municipality without a value at either end of a period has no figure for it. Santa Cruz das Flores and Corvo have no value in any quarter.

Snapshot of INE’s answer retrieved 2026-11-02; latest quarter Q2 2026. The page does not estimate a missing value.

The source
The source is the statistic “Median value of dwellings sales in the last 12 months” of Statistics Portugal (INE), quarterly, for all dwellings, published under CC BY 4.0. The categories of new and existing dwellings are not used.
What the figures are
Each figure is the median price per square metre of the dwellings sold in the twelve months ending in that quarter, as Statistics Portugal (INE) publishes it for all dwellings. It is not a price index adjusted for quality and not the median of the quarter alone. A small municipality has few sales, so its figure can move strongly from one quarter to the next. The latest quarter is shown as INE published it.
Changes in gold and dollars
Each figure is the median price per square metre of the sales of the twelve months ending in that quarter. Changes compare the exact end quarters; the gold and dollar references are the mean of the quarterly averages of the quarter and the three before it, the same twelve months.
The conversion
Gold: euros per square metre divided by the gold price in euros per gram (GC=F × EUR=X ÷ 31.1034768); US dollars: multiplied by the dollars per euro. Gold Standard converts INE's figures into grams of gold and US dollars; the conversions are Gold Standard's, not INE's.
Why the history starts in 2019
INE publishes this statistic for municipalities from Q4 2019, so the longest period is six and a half years and ten years is not available.
Gaps
INE leaves 237 municipality-quarters unpublished between Q4 2019 and Q2 2026, in 36 municipalities. A period whose edges use such a quarter has no figure for that municipality, and the map hatches it. Santa Cruz das Flores and Corvo have no value in any quarter and are hatched on the map.
Municipalities and shapes
The shapes are the municipalities of the DGT’s Carta Administrativa Oficial de Portugal 2025. The shapes were simplified, and Madeira and the Azores are moved into insets that are not to scale; the Selvagens Islands, which belong to Funchal, are not drawn. The district or island of each municipality is the DGT’s.

Source: Instituto Nacional de Estatística – Portugal (Statistics Portugal), median value of dwellings sales in the last 12 months (all dwellings), quarterly, reference periods as stated on the page (CC BY 4.0).

Carta Administrativa Oficial de Portugal (CAOP2025), Direção-Geral do Território, CC BY 4.0; shapes simplified.

Statistics Portugal and the Direção-Geral do Território supply the data only and do not endorse this page.