Lisbon has emerged as the most expensive city for buying property on the entire Iberian Peninsula. As of the end of June, the median price for housing in the Portuguese capital reached an

all-time high of 5,642 euros per square meter (euros/m²), according to data from idealista. This figure is more than double the national median price in Portugal, which stands at 2,683 euros/m².

When comparing the 15 most expensive district capitals for real estate in Portugal and Spain, Lisbon tops the list. House prices in Lisbon are 25% higher than in Madrid, where the median price is 4,514 euros/m², and 27% higher than in Barcelona, which has a median price of 4,430 euros/m². Even in San Sebastián, the most expensive city in Spain with prices at 5,461 euros/m², Lisbon’s property prices are 3% higher.

In Portugal, after Lisbon, the next most expensive cities for real estate are Porto, with a median price of 3,578 euros/m², and Funchal at 3,388 euros/m², ranking 6th and 7th respectively on the Iberian Peninsula. Faro (2,979 euros/m²) and Aveiro (2,534 euros/m²) also make the list, ranking 10th and 15th respectively.

Although Spanish cities dominate the top 15 most expensive cities for real estate on the Iberian Peninsula, with 10 entries, Lisbon, Porto, and Funchal maintain higher median house prices than several major cities in Spain, including Bilbao (3,301 euros/m²) and Málaga (3,016 euros/m²). Photo by LBM1948, Wikimedia commons.