Real Estate Market in Numbers: Monthly Barometer of June

Summary

• Headline numbers:
  Average property sale prices +6.2% (YoY) compared to June 2020.
  Average property sale prices +0.6% (MoM) compared to May 2021.
  Average rental prices -6.5% (YoY) compared to June 2020.
  Average rental prices +0.4% (MoM) compared to May 2021.
• The average rental price of property listed on the Imovirtual website in June 2021 was 1,012€, marking an increase of +0.4% compared to the previous month (May 2021).
• The average sale price of property listed on the Imovirtual website in June 2021 was 368,694€, marking an increase of +0.6% compared to the previous month (May 2021), and an increase of +6.2% compared to the same month last year (June 2020).
• Lisbon, Faro, Região Autónoma da Madeira, and Porto remain the most expensive districts to buy a property with an average listing costing 594,743€, 474,833€, 354,800€ and 321,219€ respectively.
• Lisbon, Porto, Região Autónoma da Madeira, and Faro remain the most expensive districts to rent a property with an average listing costing 1,261€, 927€, 895€ and 831€ respectively.

Monthly Variation: June 2021 VS May 2021

Sale | Properties announced 

The average price of the properties advertised on Imovirtual for sale in Portugal was 368,694€ in June 2021. We thus witnessed a price stability marked by +0.6% compared to the previous month which recorded an average price of 366,498€.

In June, the district that stands out with the largest increase in percentage price variation compared to May was, again, Évora with a growth of 5.1% and 32.2% compared to June 2020.

In second place is Portalegre with an increased percentage price variation of 3.1% compared to the previous month, with 118,157€ in May and 121,824€ in June. Whereas, Setúbal shows a growth of 2.5% compared to May 2021.

This month, there were no districts with sharp drops in the percentage variation in price compared to the previous month. The only districts of note are Guarda with -0.3%, going from 111,420€ to 111,042€ and Bragança with -0.1% compared to May 2021. 

Rent | Properties announced 

In Portugal, the average price of properties advertised on Imovirtual in the rental segment remained stable, up 0.4%, from 1,008€ in May to €1,012 in June. However, comparing the average rental prices in June 2021 and June 2020 there is a drop of -6.5%.

Guarda is the district with the highest percentage growth with 8.4%, compared to May, going from 415€ to 450€. 

Beja also stands out with a percentage increase of 8.1%, going from 394€ in May to 426€ in June. However, compared to June 2020, we saw a drop of -26.3. Bragança also saw an increase of 6.8%, going from 366€ to 391€.

On the contrary, Portalegre, Vila Real and Viseu show a percentage drop in the average price of property, with -4.8%, -4.04% and -4% respectively.

Annual Variation: June2020 VS June 2021

For a better analysis of the evolution of average prices, it is important to compare two homologous periods in consecutive years with a quite distinct social reality to understand the felt impact.

Sale | Properties announced 

Comparing the average prices of property ads on Imovirtual in June 2021 with the same period last year, there has been a 6.2% increase, from 347,249€ to 368,694€. 

The district with the highest percentage variation was Évora (32.2%), with the average price going from 203,676€ in the same period last year to 269,284€ in 2021.

Aveiro and Beja recorded a percentage change of 10.5% and 10.6% respectively.

Guarda is the district with the largest percentage drop in the period under consideration with -9.8% (from 123,087€ in 2020 to 111,042€ in 2021).

Rentals | Properties announced 

In the rental segment, rental prices have been decreasing since 2019, with a decrease of -6.5% when comparing the average advertised prices in June 2021 (1,012€) with the same period of the previous year (1,082€).

Guarda registered the highest percentage increase of 28.9% in the average advertised price, with the average monthly rent going from 349€ to 450€ in June 2021. Portalegre also presents a percentage increase of 11.9%, and Região Autónoma da Madeira an increase of 11.5%. 

The districts that registered the largest percentage drop were Beja with -26.3% (from 578€ to 426€), Setúbal with -10.5% (from 842€ to 754€) and Lisbon with -9.6% (from 1,395€ to 1,261€).