Municipality · Açores

Velas

Velas is part of the Azores — a nine-island mid-Atlantic archipelago of volcanic calderas, pasture and basalt-trimmed island towns.

Last updated · First published

What does property cost in Velas?

These are the two municipality-level medians INE publishes for Velas: the transacted (sold) price and the median bank valuation, both per square metre. They are measured differently and are labelled separately, so a valuation is never presented as a sold price.

Median sold price · VelasSold · INE

€1,103/m²

Velas

CC BY 4.0
Median bank valuation · VelasBank valuation · INE

Not yet published by INE at this granularity — we show a figure only when the warehouse can source it with provenance, never an estimate.

How Velas sold prices have moved

  • Median sold price · Velas· Sold
Latest data: 1st Quarter 2026Median sold price · VelasMedian sold price · Velas: latest 1,103 €/m² in 1st Quarter 2026.1,103 €/m² · 1st Quarter 2026

Median sold price · Velas: Instituto Nacional de Estatística (INE), Portugal · retrieved 2026-08-12T23:51:31.305187Z · CC BY 4.0

How Velas sold prices have moved — data table — most recent 12 periods
PeriodMedian sold price · Velas (€/m²)
2nd Quarter 2023592
3rd Quarter 2023582
4th Quarter 2023683
1st Quarter 2024667
2nd Quarter 2024618
3rd Quarter 2024667
4th Quarter 2024750
1st Quarter 2025828
2nd Quarter 2025917
3rd Quarter 2025949
4th Quarter 2025895
1st Quarter 20261103
Median sold price · VelasLatest 1st Quarter 2026: 1,103 · Min 456 · Max 1,103 · Range 647 · CAGR +14.2%/yr
Show all 26 rows
How Velas sold prices have moved — data table — full series (26 periods)
PeriodMedian sold price · Velas (€/m²)
4th Quarter 2019482
1st Quarter 2020456
2nd Quarter 2020
3rd Quarter 2020750
4th Quarter 2020749
1st Quarter 2021770
2nd Quarter 2021697
3rd Quarter 2021602
4th Quarter 2021510
1st Quarter 2022498
2nd Quarter 2022500
3rd Quarter 2022581
4th Quarter 2022597
1st Quarter 2023651
2nd Quarter 2023592
3rd Quarter 2023582
4th Quarter 2023683
1st Quarter 2024667
2nd Quarter 2024618
3rd Quarter 2024667
4th Quarter 2024750
1st Quarter 2025828
2nd Quarter 2025917
3rd Quarter 2025949
4th Quarter 2025895
1st Quarter 20261103
Median sold price · VelasLatest 1st Quarter 2026: 1,103 · Min 456 · Max 1,103 · Range 647 · CAGR +14.2%/yr

Both series are drawn from the public data registry with full provenance. Transacted (sold) figures come from INE’s house-price statistics; the bank-valuation series is INE’s median valuation used by credit institutions. Each carries its own reference period, shown above.

What are the rules and costs in Velas?

Prices tell you what it costs to buy in Velas; the rules and costs below tell you what governs a purchase and what it costs to hold.

Two rules shape most purchases here — whether a property can be let short-term, and what it costs to hold each year — followed by the guides and calculator to model your full purchase.

Can you run a short-term rental here?

Short-term letting (Alojamento Local, AL) is regulated at the municipal level in Velas, as it is across Portugal: the national Alojamento Local regime (Decreto-Lei 128/2014, as amended) sets registration and operating requirements, while each câmara municipal can designate zonas de contenção that suspend or restrict new AL registrations. Restriction status varies by municipality and by parish, and changes over time.

This is general information, not legal advice — confirm the current status for a specific address with the Velas câmara municipal before assuming a property can be operated as AL.

What about annual property tax (IMI)?

Municipal Property Tax (IMI) is levied annually by the Velas council within a band set nationally, so the exact rate depends on the municipality and the property’s taxable value (VPT). We do not print a rate we cannot source: any specific figure we publish is drawn from the official register with its reference year, never estimated here.

To model the full acquisition cost — IMT, stamp duty and the recurring IMI — for a specific Velas purchase, use the cost calculator linked below.

Common questions about Velas

How much does property cost per square metre in Velas?
In Velas, the median transacted (sold) price is about €1,103 per square metre (1st Quarter 2026). Source: Instituto Nacional de Estatística (INE), Portugal, CC BY 4.0.

Every figure on this page is drawn from the public data registry with full provenance — official sources, reference periods and licences. We publish a number only when the warehouse can source it.

Buying in Velas?

Map the numbers on this page to your specific purchase. Speak with an advisor about costs, timeline and paperwork.

Book a free consultation