House price growth rises to 12% in March 2020 compared to the same period of the previous year
28 abril 2020
In Portugal, the average announced sale price rose from 316.629 € in March 2019 to 354.757 € in the same period of 2020 (12%). As for the average announced rental price, it has decreased 8% from 1.349 € to 1.243 € in March of the current year.
Since the beginning of the year 2020, there has been a gradual upward trend in the average prices announced in the rental segment, particularly in March. In the sales segment, the average prices announced have been increasing since September 2019 until now, however, in March 2020 there was a slowdown in this growth.
Évora and Setúbal were the districts with the highest growth in the average price announced for sale (21%). Évora recorded an increase of 177.814€ in March of the previous year to 215.045€ in the same period of 2020, while Setúbal rose from 243.869€ to 294.817€. However, they are not among the most expensive districts to live in.
Lisbon and Faro were the districts with the highest average sale price, 573.021€ and 454.030€ respectively. On the other hand, Castelo Branco (119.947€) and Beja (130.719€) are the districts with the lowest prices.
Lisbon is the most expensive district to buy a house in Portugal, having reached in March the highest announced average price compared to the period between March 2019 and March 2020.
The district that showed the largest percentage decrease in the average price announced for sale was Portalegre that registered a 12% reduction.
As far as renting is concerned, the district that showed the highest average price growth announced was Portalegre with 26%, however, it is not one of the most expensive districts to rent a property in Portugal (390€).
Lisbon and Porto were the districts with the highest average lease price, 1.595€ and 1.156 € respectively. The districts with the lowest announced average price for rent were Guarda and Castelo Branco, 366€ and 387€.
Faro and Bragança showed the biggest percentage drop in terms of the average announced prices of rent, marking a decrease of 26%(838€) and 22%(393€) respectively.
In Portugal, the average announced sale price increased by 2% from February to March 2020, rising from 348.129€ to 354.757€ respectively. As for the average announced price of leased properties, there was also a negligible percentage increase of 3%, from 1.205€ to 1.243€.
Comparing the average prices announced for sale at Imovirtual in March with February this year, the districts with the highest percentage growth are Portalegre 5.4% and Porto 3.25%. On the other hand, the districts that showed a percentage decrease were Bragança (-)2.46%, Beja (-)1.6% and Guarda(-)1.5%.
As far as leasing is concerned, it can be seen that once again Portalegre proves to be the district with the highest percentage growth (8,8%) in the period analyzed. As well as Portalegre, Viana do Castelo presented a significant percentage increase with 7.2%. Similarly to the figures announced for the average sales price, Bragança and Beja showed a percentage decrease of (-)12.5% and (-)9% in the rental segment.
Except for Bragança, Beja, Guarda and Santarém, all the districts suffered an increase in the average sale price announced in Imovirtual.