Real Estate Market in Numbers: Monthly Barometer of September
14 outubro 2020
The average price of properties announced on Imovirtual for sale in Portugal was 339.680€ in September 2020, thus seeing a slight decrease of -0,04% compared to the previous month which registered an average price of 339.799€.
In September, the district that showed the largest increase in percentage price variation compared to August was Portalegre with a 3,98% increase, with 113.469€ in August and 117.987€ in September.
The most expensive district to buy a property in Portugal is still Lisbon, with property costing on average 536.787€. Compared to the previous month the average sale price decreased by -0,49%. The other three most expensive districts to buy a property are Faro, Região Autónoma da Madeira, and Porto with an increase in the average sales price, except for Faro, with -0,58%, 1,29%, and 0,77% respectively.
The four districts that stand out for the lowst average property sales prices were Portalegre (117.987€), Guarda (122.223€), Castelo Branco (123.786€), and Beja (132.701€). Évora was the district with the highest percentage drop in the average price compared to August of -4,63%.
In Portugal, the average price of properties advertised on Imovirtual in the rental segment increased slightly by 1,74%, breaking previous downward trends, from 1.032€ in August to 1.050€ in September.
Viana do Castelo is the district with the highest percentage growth of 5%, compared to August, rising from 518€ to 544€. Contrary to Viana do Castelo, Bragança shows a percentage drop in the average property price with -20%.
Lisbon continues to lead the top of the most expensive districts for renting a property, with an average rent of 1.355€. However, compared to August there was a slight growth of 0,67%, from 1.346€ in August to 1.355€ in September. The districts Porto, Setúbal, and Região Autónoma da Madeira are also the most expensive to rent a property with an increase in the average price announced in September, except for Região Autónoma da Madeira who saw a decrease in the average price (-0,38%) from 788€ in August to 785€ in September.
The districts that in August presented a lower average price were Portalegre, Guarda, Bragança, and Castelo Branco, with 310€, 331€, 373€, and 395€ respectively.
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.
Comparing the average prices of property advertisements on Imovirtual in September 2020 with the same period in the previous year, there was an increase of 4,87%, rising from 323.894€ to 339.680€.
The district with the highest percentage variation was Évora (13,16%), with the average price rising from 170.384€ in the same period of the previous year to 192.808€ in 2020, a difference of 22.242€. Portalegre remains the cheapest district to buy a property, with the average price of properties announced in September 2020 being 117.987€.
Thus, Portalegre is one of the districts with the highest percentage drop in the period considered with -18,50% (from 144,771€ in 2019 and 117,987€ in 2020).
In the rental segment, rental prices have decreased since 2019, with a percentage decrease of -7%, comparing the average prices announced for September 2020 (1.050€) with the same period of the previous year (1.129€).
The districts with the largest percentage drop were Porto with -11,58% (from 1.079€ to 954€), Portalegre with -10,92% (from 348€ to 310€), Vila Real with -10,51% (from 495€ to 443€), and Lisbon with -9,91% (from 1.504€ to 1.355€).
Contrary to these decreases, Beja recorded the highest percentage increase of 35,31% in the average price announced, moving the average monthly rent from 422€ to 571€ in September 2020, but doesn’t include the most expensive districts to rent.
The average price of advertisements for rent in Portugal has fallen sharply since January 2020 and has remained throughout the rest of the period, analyzing a constant pace with slight fluctuations. However, from April onwards the trend started to become more pronounced and has continued to the present day.