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Nordeste · report

Past price cycles in Nordeste

Asking prices have fallen by 3% or more 6 times since 2018. The deepest began in July 2018.

Deepest fall
−18.6%
Recovery from the low
13 months

Prices in Nordeste and Portugal, indexed

Asking prices, both set to 100 in April 2018.

  • Nordeste
  • Portugal
  • 100 = April 2018
Show the numbers
PeriodNordestePortugal
Sep 2026320.0204.3
Aug 2026323.4203.0
Jul 2026323.0203.2
Jun 2026316.1203.2
May 2026327.7202.4
Apr 2026314.4202.4
Mar 2026323.9200.9
Feb 2026313.1198.8
Jan 2026302.3197.0
Dec 2025291.5194.9
Nov 2025280.7193.9
Oct 2025269.9191.3
Sep 2025259.0189.4
Aug 2025252.1188.8
Jul 2025245.0188.1
Jun 2025238.1185.9
May 2025236.5183.0
Apr 2025235.1181.5
Mar 2025228.0179.2
Feb 2025220.7176.9
Jan 2025213.5174.2
Dec 2024206.4172.2
Nov 2024208.9169.5
Oct 2024203.7167.7
Sep 2024195.2166.8
Aug 2024186.7166.2
Jul 2024178.4166.1
Jun 2024169.9164.7
May 2024161.3163.8
Apr 2024158.9161.5
Mar 2024155.5160.3
Feb 2024152.3159.0
Jan 2024146.1158.1
Dec 2023150.7156.1
Nov 2023155.5154.7
Oct 2023159.9152.4
Sep 2023159.0151.3
Aug 2023157.3150.9
Jul 2023145.9151.5
Jun 2023149.3151.3
May 2023152.8149.9
Apr 2023156.2149.3
Mar 2023162.2147.9
Feb 2023156.7147.2
Jan 2023151.2146.2
Dec 2022145.6145.5
Nov 2022134.8145.2
Oct 2022140.6143.0
Sep 2022136.0142.2
Aug 2022144.3141.9
Jul 2022144.0141.7
Jun 2022141.0141.6
May 2022137.1141.5
Apr 2022133.2140.7
Mar 2022125.0140.8
Feb 2022124.6140.1
Jan 2022134.9139.5
Dec 2021133.0139.4
Nov 2021127.1139.0
Oct 2021121.5138.2
Sep 2021115.8136.5
Aug 2021109.9135.9
Jul 2021106.2135.4
Jun 2021104.8134.2
May 2021106.9133.4
Apr 2021107.3132.7
Mar 2021104.4132.7
Feb 2021101.6132.2
Jan 2021100.2132.5
Dec 2020101.1131.7
Nov 2020100.5130.6
Oct 202093.8129.0
Sep 202095.0127.5
Aug 202093.4126.8
Jul 202089.9126.1
Jun 202086.9126.7
May 202086.0127.2
Apr 202084.6127.8
Mar 202084.2126.6
Feb 202083.0125.8
Jan 202089.0124.3
Dec 201989.7125.1
Nov 201985.1124.4
Oct 201987.4124.1
Sep 201987.9123.9
Aug 201991.3124.1
Jul 201990.8124.1
Jun 201995.2122.2
May 201992.2119.4
Apr 201992.0116.8
Mar 201992.2115.5
Feb 2019100.0114.1
Jan 201997.9112.8
Dec 201895.9112.5
Nov 201893.1111.6
Oct 201894.0110.3
Sep 2018100.9107.8
Aug 201899.6105.8
Jul 2018102.0105.4
Jun 201896.5103.1
May 201899.5102.2
Apr 2018100.0100.0

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
April 2018June 2018−3.5%21
July 2018February 2020−18.6%1913
January 2022February 2022−7.6%13
August 2022November 2022−6.6%31
March 2023July 2023−10.1%411
May 2026June 2026−3.5%1Not yet

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 Nordeste

Next 12 months

Asking prices have an 80% chance of landing between €1,720/m² and €2,104/m² by September 2027.

Expected, September 2027
€1,912/m²
Chance of a rise
76%

Affordability

At the median sale price, a 90 m² home costs €115,110. With 10% down and a 30-year mortgage, the payment is €437 a month. Banco de Portugal caps it at 50% of a household's net income.

Payment, two incomes
20%
Payment, one income
41%

Buy or rent

Figures for Região Autónoma dos Açores: Nordeste 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
€559
Owning per month
€497

New homes

21.4% more homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
8
Per 1,000 residents
1.8

Foreign buyers

Figures for Região Autónoma dos Açores: Nordeste has no reliable figures of its own.

Over the last 12 months, buyers domiciled abroad paid 15.8% more per m² than buyers living in Portugal.

Abroad against residents
+15.8%

People and new homes

In 2025 the population grew by 10 while 5 homes were finished: 2.0 new residents for every new home.

New residents per new home, 2025
2.0
Population change, 2025
+10

Empty homes

11.8% of the 2,623 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
11.8%
Empty homes
309

Renovation

In 2025, 44% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.

Work on existing buildings, 2025
44%
Reconstructions per 100 new buildings
0.0

Public housing works

Public bodies signed €414.5K of housing works here in 2025, and €2.4M since 2012.

Signed in 2025
€414.5K
Per resident, 2025
€94

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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