The Cheapest and Most Expensive Areas in Lisbon and Oporto
In spite of the coronavirus pandemic, which has seen house prices fall in many countries, the cost per square meter of housing in Portugal continues to rise. In the second quarter of 2020, house prices increased 10.3% when compared to the same period in 2019, standing at 1,137 euros/m2. However, there are parishes across the country, namely in Lisbon and Oporto, where buying a house is much more expensive.
3 out of the 24 parishes in Lisbon have registered average house sale prices above 4,500 euros/m2, well above the national average (1,137 euros/m2) and the city of Lisbon itself (3,376 euros/m2). These 3 areas, which are the most expensive areas in Lisbon, are Santo António (5,550 euros/m2), which includes Avenida da Liberdade, and adjacent areas, Santa Maria Maior (5,111 euros/m2), which includes the area of the Castle and Baixa/Chiado, and Misericórdia (4,390 euros/m2), which includes Bairro Alto, and Cais do Sodré.
The areas of Parque das Nações, Estrela, Santa Maria Maior, Alvalade, Santo António, and São Domingos de Benfica registered, simultaneously, an average price above the value of the city of Lisbon.
The parishes of Beato, Olivais, Benfica, Marvila, Campolide, Carnide, Alcântara, Ajuda, Areeiro, and São Vicente recorded the lowest prices in Lisbon, and lower rates of change in the second quarter of 2020. Campolide (-5.6%) and Carnide (-0.9%) stand out for having registered a decrease in the price of housing when compared to the same period of the previous year. In addition to these two, Avenidas Novas (-0.9%), Belém (-1.4%), and São Vicente (-2.7%) have registered a reduction in house prices when compared to the same period of the previous year.
Now, in Oporto, the parishes of Aldoar, Foz do Douro, and Nevogilde, as well as Lordelo do Ouro and Massarelos stood out among the parishes of Oporto for simultaneously presenting an average price (2,708 euros/m2 and 2,354 euros/m2, respectively) above the value of the city of Oporto (1,905 euros/m2), and a year-on-year rate of variation(+5.4% and +14.4%, respectively) higher than that observed in the city (+8.1%).
The parish of Cedofeita, Santo Ildefonso, Sé, Miragaia, São Nicolau, and Vitória also stood out for having an average price of houses sold (2,215 euros/m2) above the value of the city of Oporto, and a year-on-year rate of change (+6.4%) lower than that observed in the city as a whole.
The areas of Ramalde, Bonfim, and Campanhã registered, simultaneously, an average price (1,721 euros/m2, 1,893 euros/m2 and 1,192 euros/m2, respectively) and a year-on-year change (+4.8%, +6.1% and +7.0%, respectively) lower than the values verified in the city of Oporto.
In the second quarter of 2020, the parish of Paranhos registered an average price (1,761 euros/m2) lower than that of the city of Oporto, and an annual rate of variation (+17.4%) higher than that recorded in the city.
