Summary

• Headline numbers:
  Average property sale prices +6.8% (YoY) compared to December 2020.
  Average property sale prices +1.2% (MoM) compared to November 2021.
  Average rental prices +2.9% (YoY) compared to December 2020.
  Average rental prices +1.7% (MoM) compared to November 2021.
• The average rental price of the property listed on the Imovirtual website in December 2021 was 1,066€, with an increase of +1.7% compared to the previous month (November 2021).
• The average sale price of the property listed on the Imovirtual website in December 2021 was 372,017€, marking an increase of 1.2% compared to the previous month (November 2021), and an increase of +6.8% compared to the same month last year (December 2020).
• Lisbon, Faro, Região Autónoma da Madeira, and Porto remain the most expensive districts to buy a property with an average listing costing 585,875€, 502,472€, 388,612€ and 335,667€ respectively.
• Lisbon, Porto, Região Autónoma da Madeira, and Faro remain the most expensive districts to rent a property with an average listing costing 1,327€, 1,050€, 954€ and 862€ respectively.

Monthly Variation: December 2021 VS November 2021

Sale | Properties announced 

The average price of the properties advertised on Imovirtual for sale in Portugal was 372,017€ in December 2021. We witnessed price stability marked by 1.2% compared to the previous month, which recorded an average price of 367,543€.

In December, the district that stands out with the largest increase in percentage price variation in comparison to November was Portalegre, with a 3.8% increase.

In second place was Setúbal, with a higher percentage price variation in comparison to the previous month of 2.2%, with 314,262€ in November and 321,091€ in December. Lisbon was also up 2.07%, and the Região Autónoma da Madeira was up 2.05%.

This month, the districts with the sharpest fall in price percentage variation in comparison to the previous month were Beja, Coimbra and Évora with -3.3%, -2.6% and -2.5%, respectively.

Rent | Properties announced 

In Portugal, the average price of property advertised on Imovirtual in the rental segment shows a slight growth of 1.7% in the average price in December, compared with November (1,048€ to 1,066€).

Viseu is the district with the highest percentage increase of 7.8% compared to November, rising from 498€ to 537€. 

In second place is Viana do Castelo with a percentage increase of 6.9%. This was followed by Braga and Região Autónoma da Madeira with growth of 4.5% and 4.2% respectively.

In contrast, Bragança, Portalegre and Guarda recorded a percentage drop in the average price of property, with -21%, -14.9% and -10.4% respectively.

Annual Variation: December 2020 VS December 2021

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 the property ads on Imovirtual in December 2021 with the same period of the previous year, there has been an increase of 6.8%, rising from 348,223€ to 372,017€. 

The district which recorded the highest percentage variation was, once again, Évora (21%), with the average price rising from 204,307€ in the same period last year to 247,197€ in 2021.

Also, the Região Autónoma da Madeira and Setúbal recorded a percentage variation of 17.5% and 14.5% respectively.

Guarda is, again, the district that shows a slight percentage drop in the period considered with -0.9% (from 114,049€ in 2020 to 112,973€ in 2021).

Rentals | Properties announced 

Comparing the average advertised prices for rental properties on Imovirtual in December 2021 with the same period last year, there was a 2.9% increase, from €1,036 to €1,066. 

Porto registered the highest percentage increase of 17.9% in the average advertised price, with the average monthly rent rising from 891€ to 1,050€ in December 2021. The Região Autónoma da Madeira also recorded a percentage increase of 14.9% and Évora, 14.2%. 

The district which recorded the largest percentage drop was again Beja with -37.8% (from €714 to €444).