Summary

• Headline numbers:
  Average property sale prices +7.6% (YoY) compared to March 2021.
  Average property sale prices +1% (MoM) compared to February 2022.
  Average rental prices +6.6% (YoY) compared to March 2021.
  Average rental prices +1.9% (MoM) compared to February 2022.
• The average rental price of property listed on the Imovirtual website in March 2022 was 1,070€, marking an increase of 1.9% compared to the previous month (February 2022), and an increase of 6.6% compared to the same month last year (March 2021).
• The average sale price of property listed on the Imovirtual website in March 2022 was 380,558€, marking an increase of 1% compared to the previous month (February 2022), and an increase of 7.6% compared to the same month last year (March 2021).
• Lisbon, Faro, Região Autónoma da Madeira, and Porto remain the most expensive districts to buy a property with an average listing costing 595,860€, 521,080€, 402,564€ and 348,143€ respectively.
• Lisbon, Porto, Região Autónoma da Madeira, and Faro remain the most expensive districts to rent a property with an average listing costing 1,336€, 1,061€, 1,010€ and 863€ respectively.

Monthly Variation: March 2022 VS February 2022

Sale | Properties announced 

The average price of the properties advertised on Imovirtual for sale in Portugal was 380,558€ in March 2022. This represents a stable increase of 1% compared to the previous month, which registered an average price of 376,933€.

In March, Setúbal was the district with the highest percentage price variation compared to February, up 2.3%. In comparison with March 2021, there was a sharp rise of 21.2%.

In second place is Faro, with a higher percentage price variation compared with the previous month of 2%, with 511,033€ in February to 521,080€ in March. Compared to March 2021, there was an increase of 13.1%. Also, Braga showed an increase of 1.9% compared with February 2022.

The district with the lowest percentage variation in price compared with the previous month is Portalegre, with -3.4%, decreasing from 128,545€ to 124,180€.

Rent | Properties announced 

In Portugal, the average price of property advertised on Imovirtual in the rental segment had a stable increase of around 1.9%, rising from 1,050€ in February to 1,070€ in March. 

Beja is the district with the highest percentage growth of 23.1% compared to February, rising from 510€ to 628€.

Bragança also stands out with a percentage increase of 16.1%, rising from 415€ in February to 482€ in March. 

On the contrary, Portalegre and Guarda show a percentage drop in the average price of property, with -10.6% and -6.2% respectively.

Annual Variation: March 2021 VS March 2022

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 price of property ads on Imovirtual in March 2022 with the same period last year, there was a 7.6% increase, rising from 353,731€ to 380,558€. 

The district with the highest percentage variation was Évora (25.5%), with the average price rising from 206,323€ in the same period last year, to 258,836€ in 2022.

Setúbal and the Região Autónoma da Madeira also recorded a percentage growth of around 21.2% (from 281,618€ to 341,234€) and 19.5% (from 336,955€ to 402,564€), respectively.

Guarda is the district with the largest percentage drop in the period under consideration, with -6.3% (from 118,263€ in 2021 to 110,868€ in 2022).

Rent | Properties announced 

In the rental segment, there was also a sharp increase of 6.6% when comparing the average advertised prices for March 2022 (1,070€) with the same period of the previous year (1,004€).

Évora recorded the highest percentage increase of 29.2% in the average advertised price, with the average monthly rent rising from 503€ to 650€ in March 2022. Bragança also presents a percentage increase of 26.7%, and Beja an increase of 23.1%. 

The district which again recorded the largest percentage decrease was Guarda, with -3.2% (from 425€ to 411€).