Madeira is the most expensive region in Portugal for homeowners looking to swap an apartment for a house, according to the latest figures from property portal Imovirtual.
The analysis compares average asking prices recorded over the past three months with those from the same period last year. It found that, in Madeira, moving from an apartment to a house requires an average additional investment of €300,000, the highest premium anywhere in the country.
The Algarve follows closely behind, where the average price difference is €285,000, followed by Setúbal (€260,000) and Lisbon (€259,750).
Porto and Braga also record substantial price gaps, at €145,100 and €100,000 respectively. At the same time, Aveiro stands out as one of the most affordable regions for making the switch, with an average difference of just €19,900.
The picture is completely different across several inland districts, where houses are actually cheaper than apartments. In Coimbra, a house costs an average of €165,000 less than an apartment, while the savings amount to €150,000 in Castelo Branco, €122,500 in Viseu, €80,000 in Guarda and €47,500 in Bragança.
Sylvia Bozzo, Marketing Manager at Imovirtual, said there is a common perception that moving from an apartment to a house always requires a much larger financial commitment, but the figures suggest the reality is far more complex.
“In major urban centres and premium property markets, the difference remains very significant. However, in several inland regions, we see precisely the opposite situation. This demonstrates that Portugal’s property market is far more diverse than many people imagine and that buyers willing to relocate may find opportunities they had not previously considered,” she said.
The differences also vary according to property size, although Imovirtual notes that these figures should be interpreted alongside the geographical distribution of available properties. For one-bedroom (T1) properties, the average difference is €143,000 in favour of apartments, rising to €190,000 for two-bedroom (T2) homes and €185,000 for three-bedroom (T3) properties.
According to the report, this is largely because most houses in these categories are located in lower-priced inland and suburban markets, while smaller apartments tend to be concentrated in metropolitan areas and newer developments where prices are considerably higher.
For four-bedroom (T4) properties and above, the gap narrows significantly to around €35,000, reflecting a more balanced relationship between apartment and house prices.
Nationally, a house costs an average of €30,500 more than an apartment. However, house prices are increasing at a much faster rate. Over the past year, average apartment prices rose by 2.3%, while house prices increased by 7.1%.
Samantha Gannon
info at madeira-weekly.com
The strongest growth was recorded in the three-bedroom house segment, where average prices climbed by 23.9% in just 12 months, reflecting growing demand from families seeking larger homes.
In terms of supply, apartments continue to be dominated by two and three-bedroom properties, which account for 15.0% and 38.4% of listings respectively. Houses, by contrast, are concentrated in the larger property categories, with four-bedroom homes representing 37.2% of the market and properties with five or more bedrooms accounting for 41.2%.
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