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Pico island · report

Past price cycles in Pico island

Asking prices have fallen by 3% or more 7 times since 2017. The deepest began in April 2017.

Deepest fall
−29.8%
Recovery from the low
15 months

Prices in Pico island and Portugal, indexed

Asking prices, both set to 100 in January 2017.

  • Pico island
  • Portugal
  • 100 = January 2017
Show the numbers
PeriodPico islandPortugal
Sep 2026201.8245.7
Aug 2026204.4244.1
Jul 2026198.0244.3
Jun 2026190.9244.4
May 2026193.4243.4
Apr 2026196.1243.4
Mar 2026187.9241.6
Feb 2026188.9239.0
Jan 2026180.6236.8
Dec 2025185.2234.4
Nov 2025185.2233.1
Oct 2025172.6230.1
Sep 2025170.7227.8
Aug 2025169.2227.0
Jul 2025167.7226.2
Jun 2025164.7223.6
May 2025163.4220.0
Apr 2025159.0218.2
Mar 2025161.5215.5
Feb 2025166.9212.7
Jan 2025160.3209.5
Dec 2024155.2207.0
Nov 2024152.8203.8
Oct 2024140.6201.7
Sep 2024144.7200.6
Aug 2024148.5199.8
Jul 2024144.6199.7
Jun 2024147.0198.0
May 2024149.5197.0
Apr 2024157.0194.1
Mar 2024157.1192.7
Feb 2024162.0191.2
Jan 2024159.7190.1
Dec 2023157.8187.7
Nov 2023156.9186.1
Oct 2023154.3183.3
Sep 2023148.2181.9
Aug 2023146.9181.5
Jul 2023142.6182.1
Jun 2023142.5182.0
May 2023137.6180.3
Apr 2023135.4179.5
Mar 2023135.5177.9
Feb 2023134.9176.9
Jan 2023135.4175.8
Dec 2022129.5175.0
Nov 2022133.7174.6
Oct 2022132.4171.9
Sep 2022123.8170.9
Aug 2022114.5170.6
Jul 2022112.8170.4
Jun 2022108.6170.3
May 2022110.3170.1
Apr 2022108.3169.2
Mar 2022109.3169.3
Feb 2022105.4168.5
Jan 2022102.9167.7
Dec 2021103.9167.6
Nov 2021107.1167.1
Oct 2021107.7166.1
Sep 2021113.2164.2
Aug 2021114.0163.5
Jul 2021114.9162.9
Jun 2021104.4161.4
May 2021102.0160.4
Apr 2021100.8159.6
Mar 2021105.1159.5
Feb 2021103.4159.0
Jan 2021103.7159.4
Dec 2020103.4158.4
Nov 2020102.5157.1
Oct 202099.2155.1
Sep 2020107.8153.3
Aug 2020111.5152.5
Jul 2020110.8151.6
Jun 2020109.1152.4
May 2020103.7153.0
Apr 202093.2153.7
Mar 202090.8152.2
Feb 202090.8151.2
Jan 202088.4149.5
Dec 201989.4150.5
Nov 201987.8149.6
Oct 201988.7149.2
Sep 201992.9149.0
Aug 201992.2149.2
Jul 201988.7149.2
Jun 201985.5147.0
May 201977.2143.5
Apr 201971.3140.4
Mar 201973.7138.9
Feb 201970.6137.1
Jan 201972.5135.7
Dec 201881.5135.3
Nov 201886.9134.2
Oct 201881.8132.6
Sep 201874.3129.6
Aug 201875.9127.2
Jul 201871.1126.8
Jun 201879.0124.0
May 201883.3122.8
Apr 201892.0120.2
Mar 201885.1119.0
Feb 201889.0118.5
Jan 201886.6116.7
Dec 201786.8117.0
Nov 201789.7115.6
Oct 201788.7113.9
Sep 201788.4111.5
Aug 201791.5110.0
Jul 201792.2108.1
Jun 201790.1106.6
May 201791.4104.2
Apr 2017100.6104.0
Mar 201796.2102.9
Feb 201793.3101.2
Jan 2017100.0100.0

Every fall of 3% or more

From the peak to the lowest month after it, and how long prices took to get back.

PeakLowFallMonths fallingMonths to recover
January 2017February 2017−6.7%12
April 2017February 2019−29.8%2215
August 2020October 2020−11.0%29
July 2021January 2022−10.5%68
November 2022December 2022−3.1%11
February 2024October 2024−13.2%84
February 2025April 2025−4.8%23

Portugal against the EU since 2015

Eurostat's house price index for all dwellings, 2015 = 100. National figures, comparable across member states.

  • Portugal
  • EU
  • 2015 = 100
Show the numbers
PeriodPortugalEU
Q2 2026301.4168.6
Q1 2026291.0166.5
Q4 2025280.2164.6
Q3 2025269.4163.5
Q2 2025258.8161.0
Q1 2025247.1158.5
Q4 2024235.7156.2
Q3 2024228.9155.1
Q2 2024220.7152.7
Q1 2024212.5149.8
Q4 2023211.3148.9
Q3 2023208.5149.1
Q2 2023204.7148.2
Q1 2023198.6147.6
Q4 2022195.9148.7
Q3 2022193.8150.9
Q2 2022188.3149.6
Q1 2022182.6146.2
Q4 2021176.0143.2
Q3 2021171.3140.2
Q2 2021166.4136.0
Q1 2021161.7132.1
Q4 2020157.7129.8
Q3 2020153.6128.1
Q2 2020154.3126.3
Q1 2020151.7124.4
Q4 2019146.1122.7
Q3 2019143.7121.5
Q2 2019140.7119.8
Q1 2019137.1117.6
Q4 2018132.3116.8
Q3 2018129.7115.9
Q2 2018128.5114.2
Q1 2018125.6112.3
Q4 2017121.1111.2
Q3 2017119.6110.4
Q2 2017115.5108.8
Q1 2017111.9106.9
Q4 2016109.6106.1
Q3 2016108.3105.4
Q2 2016106.9103.8
Q1 2016103.7102.0
Q4 2015101.8101.1
Q3 2015100.7100.8
Q2 2015100.699.8
Q1 201596.998.3

Bank valuations go back to 2011, so they include the fall after the euro crisis; asking prices start in 2015. A fall counts once prices drop 3% below a peak, and ends when they are back at it.

Other reports for Pico island

Next 12 months

Asking prices have an 80% chance of landing between €1,785/m² and €2,279/m² by September 2027.

Expected, September 2027
€2,032/m²
Chance of a rise
92%

Affordability

Figures for Portugal: Pico island has no reliable figures of its own.

At the bank valuation, a 90 m² home costs €205,020. With 10% down and a 30-year mortgage, the payment is €778 a month. Banco de Portugal caps it at 50% of a household's net income.

Payment, two incomes
31%
Payment, one income
63%

Buy or rent

Figures for Portugal: Pico island has no reliable figures of its own.

Owning a 90 m² home costs less each month than renting it. Owning counts interest, running costs and the return the deposit could earn, at the median sale price. Repaying the loan is saving, so it is left out.

Rent per month
€878
Owning per month
€715

New homes

14.7% more homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
75
Per 1,000 residents
5.0

Foreign buyers

Figures for Portugal: Pico island has no reliable figures of its own.

Over the last 12 months, buyers domiciled abroad paid 33.5% more per m² than buyers living in Portugal.

Abroad against residents
+33.5%

People and new homes

In 2025 the population grew by 215 while 50 homes were finished: 4.3 new residents for every new home.

New residents per new home, 2025
4.3
Population change, 2025
+215

Empty homes

11.8% of the 9,156 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
11.8%
Empty homes
1,084

Renovation

In 2025, 24% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.

Work on existing buildings, 2025
24%
Reconstructions per 100 new buildings
0.0

Public housing works

Public bodies signed €80K of housing works here in 2022, and €237.4K since 2012.

Signed in 2022
€80K
Per resident, 2022
€6

Data: INE, ECB and others · updated October 27, 2026

Asking prices and bank valuations are not sale prices. This is a description of public data, not financial advice.

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