House prices in the Algarve, Madeira and the central region have risen by more than 2%.
The average price per square meter is now 2,090 Euros. However, in Lisbon, house prices fell by 1.1%.
According to the price index of the real estate portal Idealista, house prices in Portugal increased by 1% in the third quarter of 2020 compared to the previous quarter.
The Algarve is the southernmost region of continental Portugal. It has an area of 4,997 km2 with 451,006 permanent inhabitants, and incorporates 16 municipalities.
The region has its administrative centre in the city of Faro, where both the region’s international airport and public university, the University of Algarve, are located. The region coincides with Faro District.
Tourism and related activities are extensive and make up the bulk of the Algarve’s summer economy. Production of food, which includes fish and other seafood, different types of fruit such as oranges, figs, plums, carob beans, and almonds, are also economically important in the region.