A note from Steve
A couple I'm working with made an offer on a villa near Luz this week. The sellers came back with a counter far above it. My buyers didn't argue. They booked three more viewings for the next two days.
That is Lagos right now. Prices are still going up, but more slowly than in the rest of the Algarve, and buyers have around two thousand homes to choose from. When a price looks out of line, they don't spend weeks negotiating. They move on.
If you own here and you're thinking of selling in the spring, The Number is the one to read this week. It's the gap between the regional headline and what Lagos is really doing.
Steve
Lagos at a Glance
This week | Change | |
|---|---|---|
Median sale price (INE) | €3,855/m² | = flat · Q1 2026, latest |
Asking price (idealista) | €4,729/m² | ▲ 1.6% · Sep vs Aug |
Homes for sale | 2,066 | ▲ 0.6% · vs last week |
12-month Euribor | 3.25% | ▲ 0.05 pts · vs last week |
£1 in euros | €1.19 | ▲ 0.7% · vs last week |
$1 in euros | €0.89 | ▼ 0.4% · vs last week |
Sources: INE, Idealista, Euribor (EMMI), ECB.
Asking prices edged up in September while the number of homes for sale held steady. Sellers are pricing higher, buyers aren't in a hurry.
The Number
+5.3%
How much Lagos asking prices rose in the year to September (Idealista), to €4,729/m². Across the Algarve the rise was 7.8%, a new regional record.
Lagos is still going up, just more slowly than the region and the country (7.9%). At the same time, Algarve home sales fell 12.4% in the second quarter, and the number of homes for sale in Lagos has stayed around two thousand for weeks. Fewer buyers, plenty of choice.
What I'd do with this: if you own in Lagos and plan to sell, don't set your price from the Algarve headline or from what a neighbour asked last year. Start from what homes like yours actually sold for in the last 6 to 12 months, then look hard at the listings you'll be competing with. A home priced right from day one still sells close to asking. One priced on last year's mood sits, and buyers notice how long it has been on the market. Remember these are asking prices, not sale prices.
Sources: Idealista asking price report, September 2026, via +Algarve, 1 October 2026; INE Q2 2026 transactions, via The Portugal News, 22 September 2026. General market commentary, not financial advice.
Listing of the week
Steve's Tip
Add 23% VAT to the agency fee when you do your sums.
Most sellers I meet budget 5% for the agent and stop there. In Portugal, agency commission is a service, so it carries 23% VAT on top. On a €550,000 sale, that's about €6,325 more than people expect. When you compare agencies, compare the fee with VAT included, and ask what it covers: photos, legal coordination, marketing abroad. A cheaper fee isn't cheaper if the home sits for nine months.
General information, not legal or tax advice.
Also this week on the blog: Will Portugal Restrict Foreign Buyers After the 2026 Housing Protests? →
Curious what your place is worth now?
If you're thinking about selling next year, the number that matters is what your home would sell for today, not what the headlines say. I'll run a proper valuation based on real sales near you and the listings you'd be up against.
No obligation, and no pressure to list. Just a clear figure you can plan around.