Portuguese property valuations reached new heights in December 2025, with median bank appraisal values climbing 1% from November to €2,081 per square meter and 19.1% above December 2024 levels. For high-net-worth international clients and luxury property investors, these figures highlight strengthening market conditions that influence acquisition costs and investment timing.
The Setúbal Peninsula posted the largest annual gain at 23%, while the Azores saw the smallest rise of 11.9%. Across accommodation types, apartments advanced 21% yearly to €2,239 per square meter, and houses grew 11.5% to €1,435 per square meter. This data from the National Institute of Statistics stems from 34,496 appraisals, down 7.2% from the prior year.
Regionally, Greater Lisbon led monthly increases at 1.7%, with the Azores dipping slightly by 0.1%. Year-over-year, no regions declined, as Setúbal Peninsula again topped with 27.3% growth. These patterns reflect broad demand supporting Portuguese property valuations amid fewer appraisals overall.
For apartments, the December median hit €2,415 per square meter, up 23.1% from December 2024 and 1.1% monthly. Greater Lisbon reached €3,199 per square meter and the Algarve €2,758, contrasting lower figures in Alentejo at €1,487 and Central regions at €1,548. T1 units fell slightly to €3,113, while T2 and T3 rose to €2,495 and €2,090, covering 92.8% of appraisals.
Houses averaged €1,516 per square meter, a 14.7% yearly increase and 1.1% monthly gain. Top values appeared in Greater Lisbon at €2,751 and Algarve at €2,629, with Central and Alentejo lowest at €1,114 and €1,213. T2 and T3 houses each gained to €1,511 and €1,480, while T4 dipped to €1,575; these types made up 88.1% of house evaluations.
Greater Lisbon, Algarve, and Setúbal Peninsula exceeded the national median by 51.1%, 31%, and 21.1%. Lower areas like Alto Tâmega e Barroso trailed at 52.7% below. This steady upward trajectory in Portuguese property valuations reassures investors of reliable appreciation backed by consistent regional gains.
We note that sustained growth in key areas like Setúbal underscores selective opportunities for expatriates and investors. High-net-worth clients can use these appraisal trends to evaluate entry points in high-demand zones.
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