House prices in the Algarve rose by 5.9% in the second quarter of this year (April, May and June), and now average €1,916 per square meter, according to the Idealista retail prices index.
Faro nudged up a little, an increase of 1.7% to €1,706 per m2.
The stiffest price increase in the region was for properties in Vila Real de Santo António, up 11.4%, followed by Silves at 7.8% and Olhão, up 6.6%.
As for real money, the most expensive Council area in which to buy a house is Loulé at €2,430 per m2.
Rural Silves averaged €1,499 per m2, Olhão was €1,301per m2 and São Brás de Alportel was €1,233 per m2.
All regions in the country experienced quarterly price increases, particularly in the north of Portugal which saw an 8% improvement. This was followed by Lisbon and the Algarve, both up 5.9%, the Alentejo up 4.2%, Madeira and the Centre of Portugal both rose 3.5%.
Lisbon, at an average of €2,629 per m2, remains the most expensive area, followed by the Algarve where a square metre costs €1,916.
The cheapest place to buy is still Guarda at €648 per m2, Bragança at €675 per m2 and Castelo Branco where it costs just €678 per m2.
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