Porto registered the highest annual growth rate of median house prices among the most populated municipalities

In the 4th quarter of 2020 (last 3 months), median house price of dwellings sales in Portugal was 1 188 €/m2, representing a year-on-year growth rate of +7,8%. In 12 NUTS III there was an acceleration in house prices higher than the observed in the country (+0.2 percentage points), including Algarve (+2.4 p.p.) and Área Metropolitana do Porto (+1.0 p.p.). Nevertheless, in 13 sub-regions there was a deceleration in house prices, namely, in Região Autónoma da Madeira (-8.5 p.p.) and Área Metropolitana de Lisboa (-1.0 p.p.).
With reference to the 24 municipalities with more than 100 thousand inhabitants, Porto registered the highest annual growth rate of median house prices (+21,2%), in 4th quarter of 2020 (last 3 months).
In box 1 (page 8), the relationship between the values of bank appraisals carried out by the banks for mortgage loans and the house prices suggests lower bank appraisals values in municipalities with median house prices above 960 €/m2.