Find your new life
Porto, the second largest city in the Portugal, is famous for its historic architecture, eponymous wine and inimitable charm. Located in the north of the country, on the Atlantic coast, this vibrant city attracts many European buyers looking for a residence, in the city center or in the surrounding wine landscapes.
In this article, we will explore Porto's real estate market, its prices per square meter, current trends, and market developments.
Since 2016, the real estate market in Portugal has seen a notable increase in prices, with a 50% increase in just five years. In Porto, prices have increased significantly: between 2021 and 2022, the prices of houses and apartments rose by 13.9%.
The market in 2024 remains dynamic with prices constantly increasing. Despite global economic fluctuations, Porto continues to attract thanks to its cultural and economic dynamism. The range of real estate offers a wide range of properties, from contemporary apartments to traditional houses and renovated historic buildings.
The outlook for 2024 indicates relative price stability, with a slight upward trend in the most popular districts. Demand for properties in areas such as Ribeira, Foz do Douro and Baixa remains strong. Favourable credit conditions and an improvement in the Portuguese economy could also boost the local property market.
The average price per m² in Porto is around 3600€ (3,400€ for an apartment, and 2100€ for a house). Prices vary greatly depending on the location and characteristics of the properties. Here is an overview of the average prices per m² in different areas of Porto:
Riberia, Foz de Douro, Bonfim... Porto offers a variety of neighborhoods but also surrounding cities, each offering its own unique features and benefits.
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The real estate market in Porto offers many opportunities for European buyers, whether for a second home, a rental investment or a sunny retirement. With its rich cultural heritage, pleasant climate, and exceptional quality of life, Porto continues to appeal to a wide range of international buyers.
Photo: House for sale by Entreparedes on Green acres
