Real Estate Market in Numbers: Monthly Barometer of January

Summary

• Headline numbers:
  Average property sale prices +7% (YoY) compared to January 2021.
  Average property sale prices have remained stable with 0% change (MoM) compared to December 2021.
  Average rental prices +1.7% (YoY) compared to January 2021.
  Average rental prices -1.9% (MoM) compared to December 2021.
• The average rental price of property listed on the Imovirtual website in January 2022 was 1,046€, marking a decrease of -1.9% compared to the previous month (December 2021).
• The average sale price of property listed on the Imovirtual website in January 2022 was 372,000€, a 0% change compared to the previous month (December 2021), and an increase of 7% compared to the same month last year (January 2021).
• Lisbon, Faro, Região Autónoma da Madeira, and Porto remain the most expensive districts to buy a property with an average listing costing 588,355€, 509,838€, 393,960€ and 335,252€ respectively.
• Lisbon, Porto, Região Autónoma da Madeira, and Faro remain the most expensive districts to rent a property with an average listing costing 1,308€, 1,035€, 973€ and 852€ respectively.

Monthly Variation: January 2022 VS December 2021

Sale | Properties announced 

The average price of the properties advertised on Imovirtual for sale in Portugal was 372,000€ in January 2022. This represents no change (0%) compared with the previous month, which recorded an average price of 372,017€.

In January, the district with the highest percentage price variation in relation to December was Évora with a growth of 6.1%, with 247,197€ in December and 252,293€ in January.

In second place was Viseu with a percentage price variation of 5.1% in comparison to the previous month, followed by Beja with 5%.

The district with the sharpest fall in the percentage variation in price compared with the previous month was Portalegre with -2.3%, going from 125,893€ to 122,997€. 

Rent | Properties announced 

In Portugal, the average price of property advertised on Imovirtual in the rental segment stabilised at around -1.9%, decreasing slightly from 1,066€ in December to 1,046€ in January. 

Viana do Castelo was the district with the highest percentage growth, with 7.9% compared to December, rising from 572€ in December to 617€ in January. Compared to January 2021, this percentage increase continues to be marked by 16.4% more. Portalegre, in second place, showed an increase of 6.8%.

On the contrary, Bragança and Vila Real showed a percentage drop in the average price of property, with -18.3% and -8.4% respectively. 

Annual Variation: January 2022 VS January 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 price of property ads on Imovirtual in January 2022 with the same period in the previous year, there was an increase of 6.9%, rising from 347,955€ to 372,000€. 

The district with the highest percentage variation was Évora (34.7%), with the average price rising from 194,801€ in the same period last year to 262,293€ in 2022. 

Also, Região Autónoma da Madeira and Setúbal recorded a percentage variation of 18% and 15.2% respectively.

Guarda remains among the districts with the largest percentage drop in the period considered, with -5.9% (from 119,444€ in 2021 to 112,365€ in 2022).

Rentals | Properties announced 

In the rental segment, there was a percentage stabilisation of 1.7% when comparing the average advertised prices in January 2022 (1,046€) with the same period of the previous year (1,029€).

Porto once again recorded the highest percentage increase, with 19.2%, in the average advertised price, with the average monthly rent rising from 868€ to 1,035€ in January 2022. Évora, Viana do Castelo and the Autonomous Region of Madeira also registered a percentage increase of 16.3%, 16.4% and 15.2%, respectively. 

The district that recorded the largest percentage drop was Beja with -31.9%, going from 643€ to 438€. The other districts that also showed a percentage decrease were Guarda with -3.4% (from 469€ to 453€) and Vila Real with -2.5% (from 480€ to 468€).