In 2024, the average home price in the region of Algarve, Portugal, is $664,000, at a price per square foot of $332. By comparison, the national average cost to buy a house in Portugal is $524,000, or $262 per square foot.
Real estate in Algarve is sought-after by foreign and local buyers alike, and prices have changed by 7.4% compared to the previous year. Homes located in the most popular towns in Portugal, frequented by tourists, tend to be more valuable, while living in remote or lesser-known locations is typically more affordable.
Here’s how Algarve property prices compare to other regions of Portugal:
Alentejo $312,000
Algarve $664,000
Metropolitan Lisbon $724,000
Center $286,000
North $430,000
Madeira $588,000
Azores $294,000
House prices in the cities and towns of Algarve, in US dollars
The most expensive town to buy a house in Algarve is Loulé, where a 2,000 square foot home costs on average $808,000. That’s a price per square foot of $404.
The most affordable place in Algarve to buy a house, of the locations analyzed, is Alcoutim, where you can purchase a 2,000 square foot home for as little as $160,000, or $80 per square foot, on average.
Real estate prices in Algarve’s main cities and towns:
Albufeira $678,000
Alcoutim $160,000
Aljezur $704,000
Faro $592,000
Lagoa $678,000
Lagos $768,000
Loulé $808,000
Monchique $458,000
Olhão $558,000
Portimão $524,000
São Brás de Alportel $492,000
Silves $564,000
Tavira $616,000
Vila do Bispo $762,000
Vila Real de Santo António $564,000
Ready to make Portugal your home? Find out all about how to buy a house in Portugal as a foreigner.
Algarve Portugal property prices, in Euro
An average 200-square-meter house in Algarve sells for around €650,200, or €3,251 per square meter. Property prices in Algarve have changed by 7.4% compared to last year.
Of the locations analyzed, the priciest properties in Algarve can be found in Loulé, going for €791,200, on average, or €3,956 per square meter.
On the other hand, the cheapest house prices in Algarve are in Alcoutim, where an average-sized home goes for €155,600. That is based on an average of €778 per square meter.
See how much it costs to buy property in other locations in Algarve:
Albufeira €664,200
Alcoutim €155,600
Aljezur €688,800
Faro €579,400
Lagoa €663,000
Lagos €751,800
Loulé €791,200
Monchique €447,600
Olhão €546,600
Portimão €511,800
São Brás de Alportel €481,600
Silves €551,400
Tavira €602,400
Vila do Bispo €745,200
Vila Real de Santo António €551,600
Home prices vary depending on the condition of the property, the size of the home, and, of course, the location. For example, apartments and homes located in historic town centers tend to be more expensive than in other areas of the town, partly because of their proximity to amenities and partly because of their higher rental value. Moreover, properties in need of extensive renovation are typically priced much lower than those that are in move-in condition.
Methodology:
- When using or citing this data, please give credit with a link to My Dolce Casa
- Home price data source: Idealista.pt valid as of the date of this report
- Original prices published in euros per square meter
- Euros converted to U.S. dollars at an exchange rate valid as of the date of this report
- Square meters converted to square feet
- The average price of a 2,000 square foot home was calculated by multiplying the price per square foot in USD by 2,000
- The average price of a 200 square meter home was calculated by multiplying the price per square meter in Euro by 200
