In comparison to other European cities, like central Rome that cost around €6,500 to €8,000 per square metre or Milan with apartments in the centre costing €8,900 to €12,400 per sq. m., Portugal continues to have very competitive prices.
The Global Property Guide published that Algarve, which is known for its Mediterranean beaches and golf resorts, had the most increase in housing prices in Portugal, with a median house price of €1,562 (US$1,886) per sq. m in November 2020, followed by Lisbon Metropolitan Area and Madeira, with median house prices of €1,507 (US$1,820) per sq. m. Even with the house prices increase, Portugal real estate continues to be very good value for money in comparison to other European countries.
