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Terceira island · report

Past price cycles in Terceira island

Asking prices have fallen by 3% or more 4 times since 2015. The deepest began in April 2016.

Deepest fall
−17.6%
Recovery from the low
37 months

Prices in Terceira island and Portugal, indexed

Asking prices, both set to 100 in January 2015.

  • Terceira island
  • Portugal
  • 100 = January 2015
Show the numbers
PeriodTerceira islandPortugal
Sep 2026212.1320.6
Aug 2026204.5318.5
Jul 2026202.1318.8
Jun 2026198.5318.9
May 2026203.8317.6
Apr 2026205.8317.6
Mar 2026198.1315.2
Feb 2026193.2311.9
Jan 2026185.7309.0
Dec 2025176.6305.9
Nov 2025176.1304.2
Oct 2025170.8300.2
Sep 2025170.2297.2
Aug 2025170.9296.2
Jul 2025163.0295.1
Jun 2025156.7291.8
May 2025156.8287.1
Apr 2025158.2284.7
Mar 2025155.9281.2
Feb 2025148.5277.6
Jan 2025148.4273.4
Dec 2024146.0270.1
Nov 2024145.2265.9
Oct 2024145.9263.2
Sep 2024144.9261.8
Aug 2024142.4260.8
Jul 2024142.9260.6
Jun 2024141.7258.4
May 2024138.0257.0
Apr 2024134.6253.3
Mar 2024134.1251.4
Feb 2024135.2249.5
Jan 2024126.9248.1
Dec 2023124.8245.0
Nov 2023122.8242.8
Oct 2023121.9239.1
Sep 2023118.6237.3
Aug 2023118.3236.8
Jul 2023117.5237.6
Jun 2023115.6237.4
May 2023112.6235.3
Apr 2023112.3234.3
Mar 2023112.0232.1
Feb 2023113.9230.9
Jan 2023115.9229.4
Dec 2022110.7228.3
Nov 2022109.5227.8
Oct 2022109.4224.3
Sep 2022105.6223.0
Aug 2022106.1222.6
Jul 2022104.6222.3
Jun 2022105.9222.2
May 2022103.5221.9
Apr 2022103.2220.8
Mar 2022103.2220.9
Feb 2022104.8219.9
Jan 2022103.9218.9
Dec 2021100.9218.7
Nov 202197.5218.1
Oct 202196.5216.8
Sep 202196.0214.2
Aug 202195.3213.3
Jul 202194.9212.5
Jun 202193.6210.6
May 202193.7209.3
Apr 202194.1208.2
Mar 202194.6208.1
Feb 202194.6207.4
Jan 202194.1207.9
Dec 202095.3206.7
Nov 202094.6205.0
Oct 202094.7202.4
Sep 202093.6200.1
Aug 202095.0199.0
Jul 202095.2197.8
Jun 202093.7198.8
May 202095.2199.6
Apr 202094.7200.6
Mar 202095.1198.6
Feb 202095.2197.3
Jan 202094.3195.0
Dec 201991.1196.3
Nov 201990.6195.2
Oct 201990.3194.7
Sep 201990.0194.4
Aug 201991.1194.6
Jul 201991.9194.7
Jun 201992.1191.8
May 201993.4187.3
Apr 201993.2183.2
Mar 201994.2181.2
Feb 201995.1178.9
Jan 201997.8177.1
Dec 201897.8176.6
Nov 201896.0175.2
Oct 201896.7173.1
Sep 201897.1169.1
Aug 201897.1165.9
Jul 201897.1165.4
Jun 2018103.0161.8
May 2018103.4160.3
Apr 2018104.6156.9
Mar 2018103.3155.3
Feb 2018107.3154.6
Jan 2018105.3152.2
Dec 2017100.3152.6
Nov 201799.3150.8
Oct 201799.0148.7
Sep 2017101.0145.5
Aug 2017100.6143.5
Jul 201799.3141.0
Jun 2017100.6139.1
May 2017101.8135.9
Apr 2017103.0135.7
Mar 2017102.4134.3
Feb 2017103.9132.1
Jan 2017106.8130.5
Dec 2016107.0129.4
Nov 2016106.7128.6
Oct 2016107.4126.0
Sep 2016107.8122.5
Aug 2016107.0119.3
Jul 2016106.7115.2
Jun 2016107.4115.1
May 2016107.0113.9
Apr 2016109.1113.2
Mar 2016106.2114.2
Feb 2016105.4113.9
Jan 2016105.5112.6
Dec 2015104.0110.6
Nov 2015101.9108.8
Oct 2015103.0108.2
Sep 2015103.8107.5
Aug 2015104.9106.6
Jul 2015105.6105.7
Jun 2015105.7106.1
May 2015101.0103.7
Apr 2015100.8101.7
Mar 2015102.3101.0
Feb 2015100.2100.0
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
June 2015November 2015−3.6%54
April 2016September 2019−17.6%4137
January 2023March 2023−3.3%24
April 2026June 2026−3.5%23

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 Terceira island

Next 12 months

Asking prices have an 80% chance of landing between €1,933/m² and €2,342/m² by September 2027.

Expected, September 2027
€2,137/m²
Chance of a rise
96%

Affordability

Figures for Portugal: Terceira island has no reliable figures of its own.

At the bank valuation, a 90 m² home costs €205,020. With 10% down and a 30-year mortgage, the payment is €778 a month. Banco de Portugal caps it at 50% of a household's net income.

Payment, two incomes
31%
Payment, one income
63%

Buy or rent

Figures for Portugal: Terceira island has no reliable figures of its own.

Owning a 90 m² home costs less each month than renting 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
€878
Owning per month
€715

New homes

8.2% more homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
71
Per 1,000 residents
1.3

Foreign buyers

Figures for Portugal: Terceira island has no reliable figures of its own.

Over the last 12 months, buyers domiciled abroad paid 33.5% more per m² than buyers living in Portugal.

Abroad against residents
+33.5%

People and new homes

In 2025 the population grew by 78 while 53 homes were finished: 1.5 new residents for every new home.

New residents per new home, 2025
1.5
Population change, 2025
+78

Empty homes

12.7% of the 25,326 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
12.7%
Empty homes
3,220

Renovation

In 2025, 20% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.

Work on existing buildings, 2025
20%
Reconstructions per 100 new buildings
0.0

Public housing works

Public bodies signed €14.2M of housing works here in 2025, and €41.4M since 2012.

Signed in 2025
€14.2M
Per resident, 2025
€260

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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