Summary

• Headline numbers:
  Average property sale prices +7.9% (YoY) compared to February 2021.
  Average property sale prices +1.3% (MoM) compared to January 2022.
  Average rental prices +4.6% (YoY) compared to February 2021.
  Average rental prices +0.4% (MoM) compared to January 2022.
• The average rental price of property listed on the Imovirtual website in February 2022 was 1,050€, marking an increase of 0.4% compared to the previous month (January 2022), and an increase of 4.6% compared to the same month last year (February 2021).
• The average sale price of property listed on the Imovirtual website in February 2022 was 376,933€, marking an increase of 1.3% compared to the previous month (January 2022), and an increase of 7.9% compared to the same month last year (February 2021).
• Lisbon, Faro, Região Autónoma da Madeira, and Porto remain the most expensive districts to buy a property with an average listing costing 591,019€, 511,033€, 398,656€ and 345,052€ respectively.
• Lisbon, Porto, Região Autónoma da Madeira, and Faro remain the most expensive districts to rent a property with an average listing costing 1,305€, 1,035€, 964€ and 887€ respectively.

Monthly Variation: February 2022 VS January 2022

Sale | Properties announced 

The average price of the properties advertised on Imovirtual for sale in Portugal was 376,933€ in February 2022. This represents a stable increase of 1.3% compared to the previous month, which registered an average price of 372,000€.

In February, the district with the largest percentage price increase compared with January was Portalegre, with a 4.5% increase, with 122,997€ in January and 128,545€ in February.

In second place was Porto with an increased percentage price variation compared to the previous month of 2.9% (from 335,252€ to 345,052€).

This month was quite stable, the districts with the smallest percentage price variation compared with the previous month were Évora with -0.9%, rising from €262,293 to €259,949, and Beja with -0.7%, going from €147,388 to €146,375. 

Rent | Properties announced 

In Portugal, the average price of property advertised on Imovirtual in the rental segment stabilized at around 0.4%, rising from 1,046€ in January to 1,050€ in February. 

Beja was the district with the highest percentage growth, of 16.4% compared to January, rising from 438€ to 510€. However, compared to February 2021, there is a percentage drop that is marked by -14.2%. Bragança, in second place, showed an increase of 16.3% (from 357€ to 415€).

On the contrary, Portalegre and Guarda showed a percentage drop in the average price of property, with -3.32% and -3.31% respectively.

Annual Variation: February 2021 VS February 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 prices of property ads on Imovirtual in February 2022 with the same period of the previous year, there was an increase of 7.9%, rising from 349,208€ to 376,933€. 

The district with the highest percentage variation was Évora (37.5%), with the average price rising from 189,125€ in the same period last year to 259,949€ in February 2022. 

Also, Região Autónoma da Madeira and Setúbal recorded a percentage variation of 19.8% and 18% respectively.

Guarda remains among the districts with the largest percentage drop in the period considered, with -4.7% (from 117,866€ to 112,331€).

Rentals | Properties announced 

In the rental segment there was a percentage stabilization of 4.6%, comparing the average advertised prices for February 2022 (1,050€) with the same period of the previous year (1,004€).

Porto once again recorded the highest percentage increase of 19.2% in the average advertised price, with the average monthly rent rising from 869€ to 1,035€ in February 2022. Évora, Região Autónoma da Madeira and Viana do Castelo also presented a percentage increase of around 17.5%, 14.4% and 12.8%, respectively. 

The district that recorded the largest percentage drop was Beja, with -14.2%, going from 594€ to 510€.