The year 2025 was marked by a sharp rise in house prices for sale in Portugal, the result of worsening scarce supply amid strong demand. But national data conceal a heterogeneous reality at the local level. There were at least 15 municipalities where homes for purchase became cheaper. The largest annual decline was recorded in Golegã, in the district of Santarém, where the median house price fell by 15.3% to 1,083 euros per square metre (€/m²), according to an analysis by idealista, the leading real estate marketplace in southern Europe.
The municipal top three where house prices fell the most over the past year is completed by Pampilhosa da Serra, in Coimbra, which reached a median value of 477 €/m², reflecting a decrease of 12.3% between November 2025 and the same month last year, and Pombal, in Leiria, where prices fell by 8%, settling at 1,162 €/m².
Alcoutim, in the district of Faro, also recorded a significant decrease in house prices for purchase, reaching 1,081 €/m² (-6.7%). In the Alentejo, the municipalities of Borba and Portel, both in the district of Évora, posted identical declines of 5.3%, with median house prices of 875 €/m² and 758 €/m², respectively.
In the district of Guarda, Gouveia reached 594 €/m² after an annual decrease of 4.7%, while in Chamusca, in Santarém, house prices dropped by 4%, standing at 756 €/m². The district of Portalegre also featured in the ranking of the largest declines, with the median cost of housing in the municipality of Avis settling at 683 €/m² (-3.2%).
Still in the centre of the country, Penacova recorded a median price of 500 €/m² after a reduction of 3.1%, and Tábua, also in the district of Coimbra, fell to 665 €/m² (-2.1%). In Leiria, Figueiró dos Vinhos posted a decline of 2%, with the price per square metre of housing reaching 715 euros.
In the north of the country, Melgaço, in the district of Viana do Castelo, recorded a value of 544 €/m² after a drop of 1.8%. In Vila Real, house prices in the district capital of the same name fell by 1.6% to 1,343 €/m², while Vizela, in the district of Braga, closed the list of the largest falls in the cost of homes for sale, with a decrease of 1.4% and a median price of 1,425 €/m².
The 15 municipalities where house prices for sale fell the most
Median value in November (€/m²)
Change between November 2025 and the same month of the previous year (%)
District Municipality Price (€/m²) Annual change (%)
Santarém Golegã 1,083 −15.3%
Coimbra Pampilhosa da Serra 477 −12.3%
Leiria Pombal 1,162 −8.0%
Faro Alcoutim 1,081 −6.7%
Évora Borba 875 −5.3%
Évora Portel 758 −5.3%
Guarda Gouveia 594 −4.7%
Santarém Chamusca 756 −4.0%
Portalegre Avis 683 −3.2%
Coimbra Penacova 500 −3.1%
Coimbra Tábua 665 −2.1%
Leiria Figueiró dos Vinhos 715 −2.0%
Viana do Castelo Melgaço 544 −1.8%
Vila Real Vila Real 1,343 −1.6%
Braga Vizela 1,425 −1.4%
Source: idealista
Buying a home: the cheapest municipalities in each district and island
Alongside the price declines, the idealista analysis also identified the cheapest municipalities to buy a home in each district and island.
In the district of Coimbra, Pampilhosa da Serra once again emerged as the most affordable residential market among all those analysed, with a median housing cost of 477 €/m². In Portalegre, Nisa posted a median value of 498 €/m². In Guarda, Sabugal was the cheapest municipality to buy a home (505 €/m²), while Penamacor is the most affordable municipality in Castelo Branco (510 €/m²).
On the island of Madeira, Santana remained the most economical municipality in which to acquire housing, with 1,792 €/m². And in the Azores archipelago, Lajes do Pico — a municipality located on the island of Pico — stood out with 1,084 €/m².
Cadaval proved to be the cheapest municipality in the district of Lisbon to buy a home (1,550 €/m²), while Baião is the most affordable municipality in the district of Porto (957 €/m²), according to idealista data for November.
Sátão (in the district of Viseu), Melgaço (district of Viana do Castelo) and Alcoutim (in the district of Faro) once again featured among the most affordable in their respective regions, confirming the trend that some of these markets continue to offer house prices for sale below the national median, despite annual fluctuations.
The cheapest municipalities to buy a home in each district/island
Median value in November (€/m²)
Change between November 2025 and the same month of the previous year (%)
District/Island Municipality Price (€/m²) Annual change (%)
Setúbal Santiago do Cacém 2,221 22.2%
Madeira (Island) Santana 1,792 21.1%
Lisbon Cadaval 1,550 21.2%
São Miguel (Island) Nordeste 1,542 53.1%
Faial (Island) Horta 1,537 23.3%
Santa Maria (Island) Vila do Porto 1,524 8.3%
Terceira (Island) Praia da Vitória 1,454 15.5%
Aveiro Castelo de Paiva 1,097 33.0%
Pico (Island) Lajes do Pico 1,084 9.5%
Faro Alcoutim 1,081 −6.7%
Braga Cabeceiras de Basto 1,023 5.6%
Porto Baião 957 16.6%
Viseu Sátão 855 15.6%
Beja Moura 770 16.2%
Évora Portel 758 −5.3%
Santarém Chamusca 756 −4.0%
Vila Real Montalegre 753 11.4%
Leiria Castanheira de Pêra 692 12.7%
Bragança Mogadouro 564 −1.3%
Viana do Castelo Melgaço 544 −1.8%
Castelo Branco Penamacor 510 15.9%
Guarda Sabugal 505 10.8%
Portalegre Nisa 498 4.5%
Coimbra Pampilhosa da Serra 477 −12.3%