Lisbon property price index Q2 2026: INE sale prices by parish
Official INE medians of the price per square metre actually paid for homes in Lisbon, for the city and each of its 24 parishes, quarter by quarter from late 2021, alongside the surrounding municipalities and Portugal as a whole.
In short. Homes in Lisbon sold for a median €5,192/m² over the year to June 2026, according to INE: up 14.7% on the previous twelve months, a little slower than a quarter earlier, and still higher than anywhere else in the Lisbon region. Split across the 24 parishes, the figure stretches from Santa Clara's €3,850/m² up to €7,254/m² in Santo António. Because INE counts what buyers paid on completion rather than what sellers advertise, these numbers make a sound benchmark for testing an offer. The next refresh follows INE's release in January 2027.
What path has Lisbon's median taken since 2021?
Each point is INE's median € per m² for dwellings sold during the preceding four quarters. The thick line is Lisbon; dashed lines mark Greater Lisbon and Portugal.
Four takeaways from INE's latest release
1. The region's priciest market, yet not its quickest riser
Over the four quarters to June 2026, Lisbon's median stood at €5,192/m², 1.38 times Greater Lisbon's €3,757/m² and 2.29 times Portugal's €2,264/m². Yet the city added only 14.7% in that year, behind both Greater Lisbon (18.7%) and the country (17.7%), and its distance from the national median has shrunk: back in Q4 2021 the multiple was 2.72. The latest quarter also brought a slowdown: Lisbon's 12-month median rose 2.2%, after 4.2% in Q1 2026, while Greater Lisbon and Portugal both gained 4.4%; the city's annual growth eased from 15.2% to 14.7%.
2. Parish prices are far apart, and the gap is widening again
The most expensive parish is Santo António (€7,254/m²), with Parque das Nações (€6,269) and Avenidas Novas (€6,144) next; at the other end, Santa Clara has the lowest median, €3,850/m². The top parish now costs 88% more per square metre than the bottom one. That is still less than the 117% of Q4 2021 and the high of 132% in Q4 2023, but the gap has widened in every quarter since its low of 71% in Q1 2025. With 11 parishes above the city median and 13 below it, the citywide number tells you little about a given street.
3. Where prices jumped, and the one parish where they slipped
The biggest annual gains up to June 2026 came in Avenidas Novas (+23.8%), Belém (+22.9%) and Ajuda (+21.6%). Only one parish went down: Marvila (−1.5%). Marvila remains 48% higher than in Q4 2021 but has dropped back from its Q1 2024 peak of €6,049/m²; where sales are relatively scarce, a few new-build schemes are enough to swing the median. Santa Maria Maior, home to Alfama and Baixa, is back above its level of a year earlier (+6.4%), although at €5,200/m² it remains below the €5,350/m² of Q3 2024. Since 6 December 2025, Lisbon's short-term rental rules (RMAL) have placed it among the three parishes in the absolute containment zone for new Alojamento Local. The other two, Misericórdia (+12.6%) and Santo António (+20.3%), also carried on climbing, and the rules overlap only the final 7 months of the 12-month window. So far, then, the data show no clear link between the regulation and prices; the coming quarters should be more telling.
4. The neighbours remain cheaper, but the distance is shrinking
Of the surrounding municipalities, Cascais is nearest to Lisbon's level at €4,889/m², with Oeiras (€4,438) second; then come Odivelas (€3,595), Loures (€3,421) and Amadora (€3,315), while Sintra is lowest at €3,068/m². All six have outpaced Lisbon (47%) since Q4 2021, with increases ranging from 61% in Cascais to 98% in Sintra. As a result, Lisbon's premium over Cascais has fallen from 16% to 6%, and over Oeiras from 34% to 17%. In the latest year Cascais (14.6%) was the only neighbour to grow more slowly than the capital.
Parish by parish: how much is a square metre?
| Parish | Q2 2026, €/m² | Q2 2025, €/m² | Annual change | Change from Q4 2021 | Against Lisbon | Guide |
|---|---|---|---|---|---|---|
| Santo António | 7,254 | 6,031 | +20.3% | +33% | +40% | Príncipe Real & Avenida |
| Parque das Nações | 6,269 | 5,840 | +7.3% | +41% | +21% | Parque das Nações |
| Avenidas Novas | 6,144 | 4,961 | +23.8% | +45% | +18% | Avenidas Novas |
| Campo de Ourique | 6,055 | 5,528 | +9.5% | +52% | +17% | Campo de Ourique |
| Misericórdia | 6,014 | 5,340 | +12.6% | +37% | +16% | Chiado & Bairro Alto |
| Belém | 5,889 | 4,793 | +22.9% | +54% | +13% | Belém & Restelo |
| Estrela | 5,770 | 5,487 | +5.2% | +42% | +11% | Lapa & Santos |
| Campolide | 5,580 | 5,143 | +8.5% | +65% | +7% | |
| São Domingos de Benfica | 5,323 | 4,486 | +18.7% | +58% | +3% | |
| Ajuda | 5,255 | 4,321 | +21.6% | +58% | +1% | |
| Santa Maria Maior | 5,200 | 4,888 | +6.4% | +25% | +0% | Alfama & Baixa |
| Alvalade | 5,152 | 4,888 | +5.4% | +35% | −1% | |
| Areeiro | 5,150 | 4,338 | +18.7% | +47% | −1% | |
| São Vicente | 5,045 | 4,852 | +4.0% | +48% | −3% | |
| Alcântara | 4,965 | 4,631 | +7.2% | +50% | −4% | |
| Marvila | 4,952 | 5,025 | −1.5% | +48% | −5% | |
| Beato | 4,880 | 4,229 | +15.4% | +77% | −6% | |
| Lumiar | 4,877 | 4,135 | +17.9% | +52% | −6% | |
| Benfica | 4,792 | 4,155 | +15.3% | +65% | −8% | |
| Arroios | 4,734 | 4,216 | +12.3% | +37% | −9% | |
| Carnide | 4,690 | 4,451 | +5.4% | +34% | −10% | |
| Penha de França | 4,659 | 3,867 | +20.5% | +48% | −10% | |
| Olivais | 4,399 | 3,879 | +13.4% | +57% | −15% | |
| Santa Clara | 3,850 | 3,450 | +11.6% | +54% | −26% | |
| Lisbon — municipality | 5,192 | 4,525 | +14.7% | +47% | — |
Rows are ranked by the most recent 12-month median. Our area guides cover neighbourhoods, and a neighbourhood is smaller than a parish: Santa Maria Maior contains Alfama and Baixa, Misericórdia contains Chiado and Bairro Alto, Santo António contains Príncipe Real and Avenida da Liberdade, Estrela contains Lapa and Santos, and Belém contains Restelo.
Is the gap between Lisbon and the towns around it closing?
Premium = Lisbon's 12-month median ÷ the Cascais, Oeiras or Greater Lisbon median, less 1, all from the one INE series.
Where does Lisbon sit among the surrounding municipalities?
| Municipality or region | Q2 2026, €/m² | Annual change | Change from Q4 2021 | Lisbon's premium |
|---|---|---|---|---|
| Lisbon | 5,192 | +14.7% | +47% | — |
| Cascais | 4,889 | +14.6% | +61% | +6% |
| Oeiras | 4,438 | +16.7% | +68% | +17% |
| Odivelas | 3,595 | +20.6% | +67% | +44% |
| Loures | 3,421 | +21.8% | +75% | +52% |
| Amadora | 3,315 | +23.2% | +82% | +57% |
| Sintra | 3,068 | +26.9% | +98% | +69% |
| Greater Lisbon (NUTS III) | 3,757 | +18.7% | +74% | +38% |
| Portugal | 2,264 | +17.7% | +75% | +129% |
The main points
- Lisbon's median sale price: €5,192/m² for the year to June 2026 (INE), +14.7% on a year earlier and +47% against Q4 2021.
- Priciest area in the region, at 2.29 times the national median, but rising more slowly than Greater Lisbon (+18.7%) and Portugal (+17.7%).
- By parish, from €3,850/m² in Santa Clara to €7,254/m² in Santo António; 23 of the 24 went up over the year, while Marvila dipped slightly.
- Since Q4 2021 all the neighbouring municipalities have grown faster than Lisbon, whose premium over Cascais has shrunk from 16% to 6%.
Method: where the numbers come from
The indicator. We use INE's valor mediano das vendas por m² de alojamentos familiares, the median value per square metre of dwellings sold. INE compiles it from the tax returns lodged on completion of each sale, so all the figures on this page are prices actually paid; they appear every quarter at municipality and parish level.
Twelve months at a time. The value for any quarter combines all sales in the 12 months that end with it (Q2 2026 covers July 2025 – June 2026). This steadies the series enough for quarter-on-quarter comparison, at the cost of picking up turns in the market a little late. Taken on its own, one quarter is more volatile: sales in Q2 2026 alone gave an INE median of €5,299/m², higher than the 12-month value, which is normal in a rising market because only the newest transactions are included.
Parishes. Figures are given for the 24 parishes created by the city's 2012 administrative reform (Lei 56/2012), which replaced the previous 53. Our neighbourhood guides work at a finer scale than that, so treat a parish median as the opening reference for a street rather than its price.
Asking prices are not sale prices. Listings on property portals reflect what owners hope to get, and portal averages are skewed towards bigger, newer homes, so they tend to come out well above INE's medians. Rely on INE for what buyers have really paid, and call any portal number an asking price.
Caveats. One median mixes flats with houses, new builds with resales and small homes with large ones, so a shift in what is selling can move it; parishes with few transactions swing more than the city as a whole. INE's numbers are reproduced exactly as published, with no adjustment or smoothing.
Release used, and what comes next. Data: INE, Estatísticas de Preços da Habitação ao nível local, published 23 October 2026, covering Q4 2021–Q2 2026. INE's Q3 2026 figures are expected in January 2027, and the page and CSV will be refreshed once they are out.
CSV file. lisbon-ine-median-price-m2.csv holds 33 areas × 19 quarters, separated by semicolons, and may be reused freely under CC BY 4.0. Suggested credit: Lisbon Property Price Index, Q2 2026, compiled by Leitstern Lisbon Estates from INE data, lisbon.house/data/lisbon-property-index/.
Common questions
What is the price per square metre in Lisbon in 2026?
€5,192/m², going by INE's median for homes sold in Lisbon in the year to June 2026, which is +14.7% compared with a year before. That figure comes from completed sales; asking prices on portals are typically higher.
Which is Lisbon's most expensive parish?
Santo António, the parish of Príncipe Real and Avenida da Liberdade, with €7,254/m² over the year to June 2026, followed by Parque das Nações (€6,269) and Avenidas Novas (€6,144). At the bottom is Santa Clara, at €3,850/m² (INE parish data).
Are Lisbon house prices still going up?
They are, though more slowly. Over the latest year the city median gained 14.7% (against 15.2% in the year to March 2026), and 2.2% in the last quarter by itself (after 4.2% in the quarter before); prices rose in 23 of the 24 parishes, the exception being Marvila (−1.5%), according to INE.
Is Lisbon dearer than Cascais or Oeiras?
It is: €5,192/m² in Lisbon over the year to June 2026, against €4,889/m² in Cascais and €4,438/m² in Oeiras. Both, however, have grown faster than Lisbon since Q4 2021, so the difference is getting smaller (INE).
When will this page next be updated?
INE's Q3 2026 figures are expected in January 2027. Once they are out, we refresh the numbers, charts and CSV here.
For information only, drawn from official statistics; nothing here is legal, tax or investment advice.
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