Real Estate Market in Numbers: Monthly Barometer of May

03 junho 2020

De imovirtual

Real Estate Market in Numbers: Monthly Barometer of May

Monthly Variation: May 2020 VS April 2020

Sale | Properties announced 

The average price of properties announced on Imovirtual for sale in Portugal was 359.497€ in May 2020, having fallen -0,8% in the previous month.

In May, the district that showed the biggest increase in percentage price variation compared to April was Vila Real with a growth of 4% (182.160€), however, it is not one of the most expensive regions to buy a property.

Lisbon remains the most expensive district to buy a property in Portugal with a property costing on average 592.709€, however, compared to the previous month the average sale price decreased 0,7%. As in Lisbon, the other three most expensive districts to buy a property, Faro, Região Autónoma da Madeira and Porto showed a decrease in the average sales price of -0,45%, -0,9% and -0,6% respectively.

The four districts that stand out for the lower average property prices were Castelo Branco (120.534€), Guarda (124.678€), Beja (130.151€) and Portalegre (135.454€).  Portalegre was the district with the highest percentage drop in the average price compared to April of -1.3%. 

Rent | Properties announced 

In Portugal, the average price of properties announced on Imovirtual in the rental segment fell by 1%, from 1.124€ in April to 1.113€ in May.

Despite the general decrease in the average rental price, Beja once again suffered the highest percentage growth of 13.6%, compared to April the rents of the properties announced increased by around 80 euros. Contrary to this sharp growth in the district of Beja, Portalegre registered in May the biggest percentage drop in the average property price with -10%, becoming the cheapest district to rent a property for an average price of 311 euros.

Lisbon did not show a significant difference in the average price announced from April to May, however, it leads the top of the most expensive districts to rent a property, with an average rent of 1.459€. The remaining districts in Porto, Faro and Madeira are also among the most expensive regions to rent a property, however, they registered a drop in the average price announced in May from 1.042€ to 997€ in Porto, 876€ to 869€ in Faro and 806€ to 794€ in Madeira.

Guarda, Castelo Branco and Bragança besides Portalegre already mentioned above, were the districts that in the month of May presented an announced average price of properties to rent lower in the country, of 344€, 376€ and 377€ respectively.

Annual Variation: May 2019 VS May 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 announced in Imovirtual in May 2020 with the same period of the previous year, there was an increase of 12.8%, rising from 318.808€ to 359.497€. 

Although it showed some oscillations over the period under review, the average price announced has been growing with special emphasis from October 2019 reaching its peak in April 2020. 

The district with the highest percentage change was Setúbal (20,5%), with the average price rising from 244.368€ in the same period of the previous year to 294.567€ in 2020, a difference in absolute terms of 50.199€.

Lisbon was the second district with the highest average price variation of announced properties, having registered a percentage increase of 18%, from 502.033€ in May 2019 to 592.709 € in May 2020.  Lisbon has proved to be the most expensive district to buy a house in over a year, while Castelo Branco remains the cheapest district to buy a property.

Portalegre and Guarda were the districts with the highest percentage drop in the period considered, -19.7% (from 168.658€ in 2019 and 135.454€ in 2020) and -13% (from 143.226€ in 2019 and 124.678€ in 2020) respectively, being part of the group of districts with more affordable real estate options in the country. 

Rentals | Properties announced 

In the rental segment, rental prices have decreased since 2019, with a sharp percentage decrease of -17.7% compared to the average prices announced in May 2020 (1.113€) with the same period of the previous year (1.353€).

The districts that registered the biggest percentage drop were Portalegre with -42%, Faro with -31% and Évora with -20%. Braga and Porto showed a decrease in average prices of -17% in both, however, the annual variation was not as significant as the districts mentioned above. The average monthly rent in Braga went from 751€ to 624€ and in Porto it went down from 1.204€ to 997€. 

Contrary to these decreases, Beja recorded the highest percentage increase of 19% in the average price announced, moving the average monthly rent from 541€ in May 2019 to 644€ in May 2020, but does not include the most expensive districts to rent.

The average rental price in Portugal fell sharply in June last year, however, after that decrease it remained stable over the rest of the period, with slight fluctuations particularly between September and December. Since then, there has been a deceleration in prices. 

Veja aqui a versão em português deste artigo

Ultima actualização: 07 agosto 2020

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