By Andrea Hargraves 
The urbanization of Quinta do Lago, in the Algarve, came straight to first place in the 2024 ranking of the ten most expensive streets in the country, published by the magazine “idealista”. For 2023, only three streets remain, as the luxury real estate sector saw a 6.5% increase in house prices last year.
Buying a house on the most expensive street in Portugal costs an average of €7.64 million. That's the price demanded by the owners of the urbanization in Quinta do Lago, in the Algarve, which has displaced Rua Garret in Chiado, in Lisbon, from the city's leadership. classification 2024 of the most expensive streets in the country, published by the “idealista” portal.
Moreover, this apartment went straight to first place in this classification, In the case of the houses located in Rua Garret (four million euros), they cost 400,000 euros less than in 2023. “I would not say that there has been a decrease in the value of Rua Garret. This difference could be, for example, due to the characteristics of the properties available in 2023, such as being larger, remodeled or furnished,” Ruben Marques, in charge of “idealista”, tells JE.
The podium is completed on this list by Rua Birre, in Cascais (€3.93 million), which registered a €1 million increase in price, compared to the previous year, allowing it to climb four places on this list. Regarding classification As of 2023, there are only three streets left, Rua Pere, Rua Garrett and Rua de Buenos Aires, in the parish of Estrela in Lisbon, with a price tag of €3.17 million, occupying sixth place on this list.
Ranking of the most expensive streets in 2023
As for 2024, the fourth street with the highest prices to buy a house is Avenida Marginal, in the parish of Cascais and Estoril (€3,622,688), followed by the urbanization street Quinta do Monte Funchal, in Lagos (€3.25 million). In seventh place are Avenida da República, in Cascais, with houses with an average price of €2,897,308, Rua Glissinhas, in Cascais (€2,850,000), Rua das Codorneses, also in Cascais (€2,830,333) and Rua dos Gladiolos, in Charneca da Caparica in Almada (€2,706,818).
The prices of the most expensive homes rose by 6.5% in one year.
This growth in house prices is in line with data on the luxury real estate sector, which saw prices of these homes rise on an annual basis by 6.5% in April, an increase equal to that recorded in the market as a whole, by about 6.4%.
Madeira was the island where prices rose the most this year, accelerating by 21.7% between April 2023 and 2024. node classification The areas that saw an increase in the most exclusive homes were Castelo Branco (19.2%), Baja (16.5%), Portalegre (14.8%), Guarda (13.1%), Viseu (12.7%), Faro (11.3%), Leiria (9%), Santarém (8.4%) and Coimbra (6.5%).
In contrast, the lowest increases were in São Miguel (5.6%), Viana do Castelo (5.6%), Lisbon (5%), Setúbal (5%), Vila Real (3.3%), Porto (3.1%), Bragança (2.2%) and Aveiro (1%). Only in two regions did the most expensive property prices fall: Évora (-4.2%) and Braga (-4.3%).