Real Estate Market in Numbers: Monthly Barometer of June

15 julho 2020

De imovirtual

Real Estate Market in Numbers: Monthly Barometer of June

Monthly Variation: June 2020 VS May 2020

Sale | Properties announced 

The average price of properties announced in Imovirtual for sale in Portugal was 359.207€ in June 2020, up 2.9% on the previous month and up 10.8% on June 2019.

In June, the district that showed the largest increase in percentage price variation compared to May was Setúbal with a 4% increase, with 286.559€ in May and 298.277€ in June.

The most expensive district to buy a property in Portugal still Lisbon, with the average property costing 577,150€. Compared to the previous month the average sale price increased by 3.7%, around 20.000€ in absolute terms. As in Lisbon, the other three most expensive districts to buy a property, Porto, Faro, and the Região Autónoma da Madeira showed an increase in the average sales price of 2.7%, 2.4%, and 0.4% respectively.

The four districts that stand out for their lower average property sales prices were Portalegre (116.459€), Castelo Branco (118.944€), Beja (128.400€) and Guarda (128.719€). Portalegre was the district with the highest percentage drop in the average price compared to May -11.1%.

Rent | Properties announced 

In Portugal, the average price of properties announced in Imovirtual in the rental segment increased by 10% compared to the previous downward trend, from 1.097€ in May to 1.206€ in June. This growth could be driven by the district of Setúbal where there was a 9% increase from 857€ to 935€.

There has been a general increase in the average rental price. Beja remains the district with the highest percentage growth of 28.8%, compared to May the rents announced, rising from 569€ in May to 733€ in June. Contrary to Beja, Portalegre maintains the percentage drop in the average property price with -3.6%, making it the most important district to rent a property for an average price of 320€.

Lisbon leads the top of the most expensive districts for renting a property, with an average rent of 1.546€, compared to May there was an increase of 8.5%, from 1.425€ in May to 1.546€ in June. The other districts of Porto, Setúbal and Faro are also among the most expensive to rent a property with an increase in the average price announced in June, rising from 987€ to 1.014€ in Porto, 857€ to 93€ in Setúbal and 864€ to 931€ in Faro.

The districts that in June presented an announced average price of properties to rent lower in the country were Portalegre, Guarda, Castelo Branco, and Vila Real, with 320 euros, 357 euros, 381 euros, and 465 euros respectively.

Annual Variation: June 2019 VS June 2020

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 advertisements in Imovirtual in June 2020 with the same period in the previous year, there was an increase of 10.7%, rising from 324.280€ to 359.207€. 

The average price announced has been growing with special emphasis from November 2019 reaching its peak in April 2020. May saw a slowdown in price growth in the buying and selling market, but there was a recovery in June.

The district with the highest percentage variation was Évora (21.4%), with the average price rising from 172,302€ in the same period of the previous year to 209.155€ in 2020, a difference in absolute terms of 36.853€.

Setúbal follows Évora as the second district with the highest average price variation of advertised properties, having registered a 17% increase, from 254.775€ in June 2019 to 298.277€ in June 2020. On the other hand, Portalegre is the district with the most account to buy a property, with the average price of the properties announced in June 2020 was 116.459€. 

Thus, Portalegre is one of the districts with the highest percentage drop in the period considered, as well as Bragança, -23.3% (from 151.874€ in 2019 and 116.459€ in 2020) and -23.8% (from 218.858€ in 2019 and 166.872€ in 2020) respectively.

Rentals | Properties announced 

In the rental segment, rental prices have decreased since 2019, with a sharp percentage decrease of -0.2%, comparing the average prices announced for June 2020 (1.206€) with the same period of the previous year (1.208€).

The districts with the largest percentage drop were Castelo Branco with -11% (from 428€ to 381€), Porto with -10.3% (from 1.131€ to 1.014€) and the Autonomous Region of Madeira with -2.7% (from 899€ to 875€) and Portalegre with -2.4% (from 328€ to 320€).

Contrary to these decreases, Beja recorded the highest percentage increase of 68.5% in the average price announced, moving the average monthly rent from 435€ to 733€ in June 2020, but does not include the most expensive districts to rent.

The average price of advertisements for rent in Portugal fell sharply in June of last year, has maintained a constant pace throughout the remaining period analyzed, with slight fluctuations, in particular, an increase in September until December. Since then there has been a deceleration in prices until June where there was an increase of 10% compared to May 2020.

Ultima actualização: 07 agosto 2020