Summary

• Headline numbers:
  Average property sale prices +9% (YoY) compared to July 2020.
  Average property sale prices +0.9% (MoM) compared to June 2021.
  Average rental prices -4.9% (YoY) compared to July 2020.
  Average rental prices 0.0% (MoM) compared to June 2021.
• The average rental price of property listed on the Imovirtual website in July 2021 was 1,012€, with no change compared to the previous month (June 2021).
• The average sale price of property listed on the Imovirtual website in July 2021 was 371,880€, marking an increase of +0.9% compared to the previous month (June 2021), and an increase of +9% compared to the same month last year (July 2020).
• Lisbon, Faro, Região Autónoma da Madeira, and Porto remain the most expensive districts to buy a property with an average listing costing 600,709€, 478,283€, 364,603€ and 323,411€ respectively.
• Lisbon, Porto, Região Autónoma da Madeira, and Faro remain the most expensive districts to rent a property with an average listing costing 1,261€, 941€, 885€ and 851€ respectively.

Monthly Variation: July 2021 VS June 2021

Sale | Properties announced 

The average price of the properties advertised on Imovirtual for sale in Portugal was 371,880€ in July 2021. We thus witnessed a price stability marked by +0.9% compared to the previous month, which recorded an average price of 368,694€.

In July, the district that stands out with the largest increase in percentage price variation compared to June was, again, Évora with a growth of 5.7% and 34.9% compared to July 2020.

In second place is Beja with an increased percentage price variation of 5.2% compared to the previous month, with 143,012€ in June and 150,409€ in July. Also, Portalegre shows a growth of 3.1% compared to June 2021.

This month, there were no districts with sharp drops in the percentage variation in price compared to the previous month. The only district of note was Bragança with -0.7%, going from 219,171€ to 217,751€. 

Rent | Properties announced 

In Portugal, the average price of properties advertised on Imovirtual in the rental segment for July, remained the same as June’s average, with 1,012€. However, comparing the average rental prices in July 2021 and July 2020 there is a drop of -4.9%.

Vila Real is the district with the highest percentage growth with 22.6%, compared to June, going from 425€ to 521€. 

Beja also stands out with a percentage increase of 7.4%. However, compared to July 2020, we saw a drop of -22.2%. Viana do Castelo also saw an increase of 5.2%.

On the contrary, Bragança, Viseu and Leiria show a percentage drop in the average price of property, with -6.4%, -3.9% and -2.6% respectively.

Annual Variation: July 2020 VS July 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 property ads on Imovirtual in July 2021 with the same period last year, there has been a 9% increase, from 341,089€ to 371,880€. 

The district with the highest percentage variation was Évora (34.9%), with the average price going from 211,875€ in the same period last year to 285,811€ in 2021.

Also, Beja and Região Autónoma da Madeira recorded a percentage change of 16% and 14.2% respectively.

Guarda is the district with the largest percentage drop in the period under consideration with -7.5% (from 122,259€ in 2020 to 113,090€ in 2021).

Rentals | Properties announced 

In the rental segment, rental prices have been decreasing since 2019, with a decrease of -4.9% when comparing the average advertised prices in July 2021 (1,012€) with the same period of the previous year (1,064€).

Guarda registered the highest percentage increase of 33.5% in the average advertised price, with the average monthly rent going from 322€ to 430€ in July 2021. Vila Real also presents a percentage increase of 24.6%, and Portalegre an increase of 12.6%. 

The districts that registered the largest percentage drop were Bragança with -22.5% (from 472€ to 366€) and Beja with -22.2% (from 580€ to 451€).