What's the location of the high-end residences?
Portugal's luxury property market is diverse, with various regions offering high-end properties. However, a few districts stand out as the most popular destinations for luxury homes priced above three million euros.
According to data from idealista, Lisbon holds the largest share of luxury properties, accounting for 40.2% of the total. The city's priciest neighborhoods include Príncipe Real and Avenidas Novas, where prices can average around €7,895 to €8,377 per square meter. Cascais and Oeiras are also notable luxury areas in Lisbon [1].
Faro (Algarve) is the second-most significant market for luxury homes, with 25.1% of the total. Municipalities such as Lagos, Loulé, Aljezur, Albufeira, and Vila do Bispo all command prices above €3,000 per square meter, supported by access to beaches, infrastructure, and lifestyle amenities [2].
Porto district ranks third in the concentration of high-end properties, with an average price near €3,007 per square meter in the city of Porto itself [3].
Madeira Island also holds a significant share of luxury homes, accounting for 6.4% of the total. Funchal and other areas on the island have approximately €3,100 per square meter as the average luxury price [1].
Setúbal has 9.4% of the luxury properties in Portugal, with 228 listings of luxury properties costing over three million euros. Braga has 1.8%, and Leiria has 1.2% [1].
Interestingly, Faial Island has the fewest luxury homes listed, with only one, and the supply of luxury homes above three million euros did not exist on July 1 on Terceira Island, Pico Island, Porto Santo Island, Saõ Jorge Island, and Faial Island [1]. Porto Santo Island, Saõ Jorge Island, Pico Island, and Terceira Island have insignificant shares of the national luxury property market.
In total, there are nearly 16,000 luxury properties listed on idealista in Portugal priced above one million euros. As of early July, there were 2,400 luxury properties listed that cost over three million euros [1].
To summarize the price landscape for ultra-luxury homes (above €3 million), these districts dominate:
| District/Region | Notable Luxury Areas | Luxury Price Characteristics | |-----------------|---------------------|------------------------------| | Lisbon | Príncipe Real, Avenidas Novas, Cascais, Oeiras | 40.2% of luxury listings; €7,895–8,377 €/m² in top neighborhoods | | Faro (Algarve) | Lagos, Loulé, Aljezur, Albufeira, Vila do Bispo | 25.1% of luxury listings; prices roughly €3,000+ €/m² | | Porto | Porto city center | 12% of listings; approx. €3,007 €/m² | | Madeira Island | Funchal and others | 6.4% of luxury listings; approx. €3,100 €/m² |
Other districts combined represent less than 10% of ultra-high-end homes and have negligible shares individually [1].
This distribution highlights that if you seek luxury homes priced above 3 million euros in Portugal, Lisbon and the Algarve are the primary markets, followed by Porto city and Madeira Island [1][2][3].
[1] idealista data, July 2023 [2] Príncipe Real and Avenidas Novas are top luxury residential and investment areas in Lisbon [3] Luxury properties in the Algarve command prices above €3,000 per square meter
- The luxury property market in Portugal is dominated by Lisbon and the Algarve, with these regions accounting for over 65% of luxury listings priced above three million euros, as seen in Príncipe Real and Avenidas Novas in Lisbon, and municipalities such as Lagos, Loulé, Aljezur, Albufeira, and Vila do Bispo in the Algarve.
- In addition to Lisbon and the Algarve, Porto city and Madeira Island are also significant markets for luxury properties, with average prices near €3,007 per square meter in Porto and approximately €3,100 per square meter on Madeira Island.
