The third quarter of 2020 saw property price growth slow down, according to a report by the Instituto Nacional de Estatística (INE- National Statistics Institute). Still, prices increased by 7.6% in year-on-year terms at a national scale.
Lisbon was the only major metropolitan area (with more than 100,000 inhabitants) that saw a contraction in prices, of 1.8%, compared to last year.
While there has been an increase in prices in year-on-year terms at a national level, the average property price of €1,168/m² represents a 1.6% contraction compared to prices in the second quarter of the same year, signalling that price growth is beginning to stall.
The regions that continue to perform above the national average are Algarve (€1,806/m²), Lisbon Metropolitan Area (€1,650/m²), Madeira (€1,332/m²), and Porto Metropolitan Area (€1,264/m²).
Related: Are Portuguese Real Estate Prices About to Plummet?
