Property prices up across most of Portugal including Lisbon and the Algarve

The average price of a home in Portugal increased by 5.4% in the second quarter of 2016 when compared to the same period last year, according to the data to be published.

Property prices rose across most regions of Portugal during the quarter taking the national average to €1,187 per square meter.

The data from online property information platform Idealista also shows that growth was led by gains in Lisbon where the average property rose in value by 6% year on year to an average €1,451 per square meter.

It means that Lisbon still has the most expensive property in Portugal with prices in the centre up 9.1% to an average of €2,716 per square meter.

Prices in the Algarve, which is popular with overseas buyers increased by 4% year on year to an average of €1,361 per square meter.

The data also shows that in the north of the country prices increased by 2% to €907 per square meter an in Centro they were up by 1.9% to €948 per square meter.

However property prices fell in Alentejo and Madeira, down by an average of 3.3% over the same period. But in Madeira, an archipelago in the north Atlantic that is part of Portugal, prices are the third highest at €1,102 per square meter, followed by the Alentejo at €1,101 per square meter.