Barometer. House prices in July 2022: sale and rent

22 agosto 2022

De IMOVIRTUAL

Barometer. House prices in July 2022: sale and rent

Barometer. House prices in July 2022: sale and rent

It's not just your impression, houses are more expensive. Compared to the values of 2021, there has been a sharp rise in the sale and rental prices of properties. Let's find out the values of the real estate market in Portugal in July 2022. 

How much does a house cost in Portugal?

We continue to see the market stabilizing when we analyze the monthly variation, the same is true from June to July. In fact, there was even a slight growth of 2% in the average value of properties, going from an average of 393,542€ to 401,312€.

The three districts where houses are more expensive are: Lisbon, Faro and the Autonomous Region of Madeira. In contrast, the districts where you can buy the cheapest houses are: Guarda, Portalegre and Castelo Branco.

From June to July, the district with the highest increase in house prices was Évora (+13.5%, from 226,965€ to 257,679€).

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In Coimbra and Guarda we have seen stabilization in the order of -0.7% and -0.6%, settling at the following values respectively: 197,721€ and 107,018€.

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See in the table below, the average values and percentages - and also the comparisons between June and July and variation with the same period in 2021 - in all of Portugal's districts.

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How much does it cost to rent a house?

If in June we saw a decrease in prices, this month the panorama is different. In July there was an increase of +2.2%, rising from 1,289€ in June to 1,317€ in July.

In the rental market, the districts with the highest average values are: Lisbon, Faro and Porto. If you are wondering where you can rent the cheapest houses in Portugal, the answer is: Portalegre, Vila Real and Bragança. 

Renting a house in Vila Real and Castelo Branco increased 18.7% and 8.7% respectively, with average prices of 438€ and 685€.

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In contrast, as you can see in the table below, Beja, Évora and Bragança showed the largest percentage price drops for properties: -18.8%, -15.4% and -13.4%, respectively. 

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Annual Variation: June 2022 vs June 2021

Regarding the price of homes for sale, at a national level, there is an increase of 7.9%, the values advertised in Imovirtual in 2021 had an average value of 371,880€, against the value of 401,312€ that currently exists. 

Compared with values of 2021, the districts that recorded a higher increase in house prices were the Autonomous Region of Madeira (+23%, from 354,603€ to 448,592€), Setúbal (+22%, from 303,688€ to 370,412€), Faro (+17.2%, from 478,283€ to 560,658€) and Braga (+15%, from 242,973€ to 279,457€).

Évora (-9.8%, from 285,811€ to 257,679€), Portalegre (-5.5%, from 125,462€ to 118,620€) and Guarda (-5.4%, from 113,090€ to 107,018€) recorded the largest price drop from one year to the next.

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Regarding the price of houses for rent, nationally, there is a significant increase of 30.1%, the values advertised in Imovirtual in 2021 had an average value of 1.012€, against the value of 1.317€ that is currently verified. 

Renting a house in Vila Real and Castelo e Branco increased an impressive 68.6%, 66.3% and 65.1% respectively.

If you want to know where you can find the cheapest houses to rent know that the only district that recorded a percentage drop was Vila Real with -15.9%, where the average rent went from 521€ to 438€.

imovirtual

Ultima actualização: 22 agosto 2022

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