Barometer. House prices in July 2022: sale and rent
22 agosto 2022
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.
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€).
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€.
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.
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€.
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.
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.
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€.