House hunters face a financial double whammy rarely seen: rapidly rising mortgage rates and home prices that keep hitting record highs
With prices at record highs and inventory locked up, house hunters are left with dwindling financing options.
House prices in Portugal reached a new all-time high in September, according to the Idealista price index, with a 7.9% increase compared to the same month last year. The median price for a home in Portugal was 3,228 euros per square metre in September. Vila Real, Leiria, Beja, Faro, Guarda, Aveiro, Setúbal, Porto, Castelo Branco, Ponta Delgada, and Lisbon all experienced significant price growth, with Lisbon being the most expensive city for buying a home at a median price of 6,256 euros per square metre.
Portugal's house price increases were the second largest in the European Union in the second quarter of 2026, behind only Bulgaria, with an increase of 14.2%. The EU as a whole saw a 4.7% increase in house prices during the same period, with rents rising by 3.0%.
Written by urgent.news from Euronews Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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