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Olhão · report

Past price cycles in Olhão

Bank valuations have fallen by 3% or more 10 times since 2015. The deepest began in November 2018.

Deepest fall
−9.0%
Recovery from the low
1 month

Prices in Olhão and Portugal, indexed

Bank valuations, both set to 100 in January 2015.

  • Olhão
  • Portugal
  • 100 = January 2015
Show the numbers
PeriodOlhãoPortugal
Sep 2026355.3301.3
Aug 2026346.4298.1
Jul 2026326.0296.3
Jun 2026322.8294.7
May 2026315.2292.1
Apr 2026315.2287.6
Mar 2026315.2284.5
Feb 2026311.1280.7
Jan 2026310.9278.4
Dec 2025305.8275.3
Nov 2025300.4272.5
Oct 2025291.7267.9
Sep 2025293.4263.9
Aug 2025289.0259.9
Jul 2025289.3257.3
Jun 2025289.0252.8
May 2025293.2249.5
Apr 2025278.4246.8
Mar 2025269.3244.3
Feb 2025260.3239.4
Jan 2025246.8234.7
Dec 2024235.8231.1
Nov 2024228.7230.2
Oct 2024241.0227.6
Sep 2024236.6224.2
Aug 2024240.4220.1
Jul 2024238.9216.7
Jun 2024242.3214.0
May 2024236.0213.0
Apr 2024229.4211.1
Mar 2024226.3209.0
Feb 2024229.6206.3
Jan 2024226.1205.0
Dec 2023224.8203.2
Nov 2023227.7202.4
Oct 2023232.2203.2
Sep 2023229.9203.8
Aug 2023221.4203.4
Jul 2023218.6201.7
Jun 2023222.5200.8
May 2023223.6199.7
Apr 2023217.0197.2
Mar 2023217.6196.2
Feb 2023219.4195.5
Jan 2023220.8196.4
Dec 2022225.0192.9
Nov 2022216.3191.7
Oct 2022216.4187.8
Sep 2022212.7189.0
Aug 2022209.7187.0
Jul 2022210.0187.4
Jun 2022205.2186.1
May 2022195.9182.5
Apr 2022194.5179.4
Mar 2022191.3176.1
Feb 2022194.1173.8
Jan 2022191.7170.9
Dec 2021185.2170.0
Nov 2021184.3168.3
Oct 2021182.4165.5
Sep 2021180.1163.5
Aug 2021179.0161.5
Jul 2021174.8161.5
Jun 2021175.9160.7
May 2021177.9160.3
Apr 2021181.1158.7
Mar 2021180.3157.0
Feb 2021165.5155.3
Jan 2021165.0154.8
Dec 2020162.5152.9
Nov 2020163.3151.3
Oct 2020164.4149.6
Sep 2020163.7149.2
Aug 2020168.9149.2
Jul 2020160.3149.1
Jun 2020165.0148.0
May 2020156.2147.4
Apr 2020157.7147.0
Mar 2020157.9146.8
Feb 2020158.6147.0
Jan 2020156.4145.9
Dec 2019155.2144.3
Nov 2019153.5142.3
Oct 2019155.8141.4
Sep 2019139.8141.0
Aug 2019142.6139.4
Jul 2019144.7138.1
Jun 2019153.2136.2
May 2019148.9135.3
Apr 2019150.7134.3
Mar 2019144.8133.1
Feb 2019141.9132.3
Jan 2019128.3130.0
Dec 2018140.8129.2
Nov 2018141.0128.0
Oct 2018140.4127.9
Sep 2018135.4126.9
Aug 2018134.5125.8
Jul 2018130.1124.5
Jun 2018123.3123.3
May 2018121.8122.9
Apr 2018117.3122.2
Mar 2018116.4121.7
Feb 2018120.3120.5
Jan 2018124.6119.3
Dec 2017123.5117.9
Nov 2017122.9117.6
Oct 2017121.9117.2
Sep 2017121.4116.5
Aug 2017119.3114.8
Jul 2017118.3113.9
Jun 2017119.7113.8
May 2017113.0113.4
Apr 2017110.6113.0
Mar 2017108.8112.3
Feb 2017108.8112.0
Jan 2017107.3111.2
Dec 2016112.2110.2
Nov 2016116.5109.3
Oct 2016116.5108.5
Sep 2016110.9107.9
Aug 2016109.0107.7
Jul 2016106.9106.6
Jun 2016103.4106.2
May 2016100.9105.8
Apr 2016100.9105.0
Mar 2016104.6104.2
Feb 2016106.3103.8
Jan 2016108.3103.8
Dec 2015108.4104.2
Nov 2015104.7103.6
Oct 2015106.8103.2
Sep 2015105.5102.8
Aug 2015109.2102.4
Jul 2015101.2102.6
Jun 201597.6101.7
May 201597.6101.6
Apr 201599.0100.5
Mar 2015100.7100.0
Feb 2015100.3100.0
Jan 2015100.0100.0

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
August 2015April 2016−7.6%85
November 2016January 2017−7.9%25
January 2018March 2018−6.6%24
November 2018January 2019−9.0%21
June 2019September 2019−8.7%31
August 2020December 2020−3.8%43
April 2021July 2021−3.5%33
December 2022April 2023−3.6%45
October 2023December 2023−3.2%25
June 2024November 2024−5.6%52

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 Olhão

Next 12 months

Asking prices have an 80% chance of landing between €3,233/m² and €3,734/m² by September 2027.

Expected, September 2027
€3,483/m²
Chance of a rise
70%

Affordability

At the bank valuation, a 90 m² home costs €243,990. With 10% down and a 30-year mortgage, the payment is €926 a month. Banco de Portugal caps it at 50% of a household's net income.

Payment, two incomes
41%
Payment, one income
82%

Buy or rent

Renting a 90 m² home costs less each month than owning 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
€788
Owning per month
€875

Asking against valuation

Sellers ask 24.8% more than banks value homes at. A year ago the gap was +40.4%.

Gap today
+24.8%
Change in a year
−15.6 pp

New homes

12.4% more homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
160
Per 1,000 residents
3.3

Foreign buyers

Over the last 12 months, buyers domiciled abroad paid 25.1% more per m² than buyers living in Portugal.

Abroad against residents
+25.1%

People and new homes

In 2025 the population grew by 279 while 85 homes were finished: 3.3 new residents for every new home.

New residents per new home, 2025
3.3
Population change, 2025
+279

Empty homes

12.4% of the 26,888 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
12.4%
Empty homes
3,339

Renovation

In 2025, 25% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.

Work on existing buildings, 2025
25%
Reconstructions per 100 new buildings
6.7

Public housing works

Public bodies signed €7.4M of housing works here in 2025, and €15M since 2012.

Signed in 2025
€7.4M
Per resident, 2025
€151

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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