Real Estate Market in Numbers: Monthly Barometer of August
Monthly Variation: August 2020 VS July 2020
Sale | Properties announced
The average price of properties announced on Imovirtual for sale in Portugal was 341.145€ in August 2020, thus seeing a slight increase of 0,07% compared to the previous month.
In August, the district that showed the largest increase in percentage price variation compared to July was Coimbra with a 1,92% increase, with 189.545€ in July and 193.183€ in August.
The most expensive district to buy a property in Portugal is still Lisbon, with property costing on average 541.750€. Compared to the previous month the average sale price decreased by -0,19%. As in Lisbon 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 Região Autónoma da Madeira, with 0,45%, -2,49%, and 0,15% respectively.
The four districts that stand out for the lower average property sales prices were Portalegre (113.215€), Castelo Branco (121.945€), Guarda (122.649€), and Beja (129.913€). Portalegre was the district with the highest percentage drop in the average price compared to July of -0,93%.
Rent | Properties announced
In Portugal, the average price of properties advertised on Imovirtual in the rental segment fell -0,57%, maintaining previous downward trends, from 1.059€ in July to 1.053€ in August.
Beja is the district with the highest percentage growth of 4%, compared to July, rising from 591€ to 514€. Contrary to Beja, Portalegre shows a percentage drop in the average property price with -6%.
Lisboa continues to lead the top of the most expensive districts for renting a property, with an average rent of up to 1.374€. However, compared to July there was a decrease of -0,36%, from 1.379€ in July to 1.374€ in August. The other districts like Porto, Faro, and Setúbal are also the most expensive to rent a property with a decrease in the average price announced in August, except for Setúbal who saw an increase in the average price (0,12%). Região Autónoma da Madeira suffered a decrease of 3,51%, from 827€ in July to 798€ in August.
The districts that in August presented a lower average price was Guarda, Portalegre, Castelo Branco, and Vila Real, with 318€, 327€, 402€, and 434€ respectively.
Annual Variation: August 2019 VS August 2020
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 property advertisements on Imovirtual in August 2020 with the same period in the previous year, there was an increase of 4,70%, rising from 325.840€ to 341.145€.
The district with the highest percentage variation was Évora (14,83%), with the average price rising from 177.112€ in the same period of the previous year to 203.373€ in 2020, a difference of 26.261€.
Vila Real follows Évora as the second district with the highest average price variation, having registered a percentage increase of 13,47%, from 159.265€ in August 2019 to 180.722€ in August 2020. Portalegre remains the cheapest district to buy a property, with the average price of properties announced in August 2020 being 113.215€.
Thus, Portalegre is one of the districts with the highest percentage drop in the period considered with -23,48% (from 147,961€ in 2019 and 113,215€ in 2020).
Rentals | Properties announced
In the rental segment, rental prices have decreased since 2019, with a percentage decrease of -7,87%, comparing the average prices announced for August 2020 (1.053€) with the same period of the previous year (1.143€).
The districts with the largest percentage drop were Vila Real with -14,90% (from 510€ to 434€), Porto with -13,07% (from 1.071€ to 931€) Região Autónoma da Madeira with -10,34% (from 890€ to 798€), and Lisboa with -10,02% (from 1.527€ to 1.374€).
Contrary to these decreases, Beja recorded the highest percentage increase of 57,44% in the average price announced, moving the average monthly rent from 390€ to 614€ in August 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.
