Luxury homes for sale: 8 out of 10 are in Lisbon, Porto and Faro

Portugal has more than 16,000 houses for sale priced at over €1 million, of which 2,400 cost more than €3 million.

And almost all districts of mainland Portugal and the islands have at least one house for sale on the online estate agency site Idealista that costs over €1 million.

However, the concentration and distribution of these houses is not homogenous, with the districts of Lisbon, Faro, and Porto having 77% of all the houses available above this value.

In districts and islands with less than six houses advertised, the percentage share is deemed insignificant and represented as 0%.

On July 1, Portugal had more than 16,000 luxury houses on the market that had a price tag of over €1 million.

Lisbon had the highest number of such homes for sale (40.2%) followed by Faro (25.1%) and Porto (12%). Setúbal accounted for 7.2% while Madeira had 6.4% of the total.

Braga was the sixth district with houses worth over €1 million for sale, representing 1.8% of the total, followed by Leiria with 1.2%.

With less than 1% were Aveiro (0.9%), Santarém (0.8%), Évora (0.7%), Viana do Castelo (0.7%), Beja (0.6%), São Miguel (0.5%), Coimbra (0.4%), Portalegre (0.4%), Viseu (0.4%), Vila Real (0.3%), Castelo Branco (0.2%), Braganza (0.1%), and Guarda (0.1%).