The price of houses by the sea skyrocketed in the Azores between the 2nd quarter of last year and this year, with a higher demand in the municipality of Vila Franca do Campo, concludes a study by Idealista / Data.
The most expensive range from around €1,700 a square meter in Ponta Delgada and Vila Franca and the cheapest in the other municipalities.
The cheapest houses by the sea in S. Miguel and Terceira range from €800 to €1,000 per square meter, according to the same study.
Cheaper North East
According to the statistical basis of the study, there are only seven municipalities in the country where the median price of houses for sale by the sea is less than €1,100 per square meter (€/m2) – and of these, four are located in the Azores:
– Nordeste (São Miguel island, Azores): buying a house cost, in median terms, €879/m2 in the second quarter of 2023;
– Estarreja (Aveiro): 937 €/m2;
– Marinha Grande (Leiria): 1,009 €/m2;
– Angra do Heroísmo (Terceira island, Azores): 1,022 €/m2;
– Praia da Vitória (Terceira Island, Azores): 1,061 €/m2;
– Cantanhede (Coimbra): 1,067 €/m2;
– Povoação (island of São Miguel, Azores): 1,083 €/m2.
At the other extreme, at Azores level, is Ponta Delgada, with a cost of 1,718 euros per square meter, an increase of 18% between the second quarter of last year and this year, with a supply of -16% in the last year and a demand of 25% more.
In Ribeira Grande the cost is around 1,112 euros per square meter, an increase of 23% over the same period.
Vila Franca is the municipality with the highest demand, 38%, and with one of the highest costs, 1,168 euros per square meter.
At the opposite end is the municipality of Lisbon – bathed by the Tagus River and a few kilometers from the beach in several directions – where acquiring a house had a median cost of 5,351 euros / m2 between April and June 2023 (+ 7% compared to the same period last year).
Right after is Grândola (in the district of Setúbal), where buying a house cost 4,706 euros/m2.
The top5 of the most expensive coastal municipalities to buy a house is complete with Cascais (4,627 euros / m2), Oeiras (3,967 euros / m2) and Loulé (3,842 euros / m2).
Demand for homes to buy near the beach fell in 64 coastal municipalities in just one year (76% of the total).
The largest decreases were identified in Ponta do Sol, Madeira Island (-57%), Santiago do Cacém, Setúbal (-52%) and Murtosa, Aveiro (-50%).
On the other hand, it was also observed that there was an increase in demand in 20 municipalities near the coast – Lisbon included (+11%) -, eleven of which are located on the islands of Madeira and the Azores.
As a result of the cooling demand, the supply of houses for sale near the beach rose in 52 of the 84 municipalities analyzed.
