Summary

• Headline numbers:
  Average property sale prices +6.7% (YoY) compared to June 2021.
  Average property sale prices -0.6% (MoM) compared to May 2022.
  Average rental prices +27.4% (YoY) compared to June 2021.
  Average rental prices -5.4% (MoM) compared to May 2022.
• The average rental price of property listed on the Imovirtual website in June 2022 was 1,289€, marking an decrease of -5.4% compared to the previous month (May 2022).
• The average sale price of property listed on the Imovirtual website in June 2022 was 393,542€, marking an decrease of -0.6% compared to the previous month (May 2022), and an increase of +6.7% compared to the same month last year (June 2021).
• Lisbon, Faro, Região Autónoma da Madeira, and Porto remain the most expensive districts to buy a property with an average listing costing 621,977€, 552,086€, 444,885€ and 362,439€ respectively.
• Lisbon, Porto, Região Autónoma da Madeira, and Faro remain the most expensive districts to rent a property with an average listing costing 1,545€, 1,242€, 1,163€ and 1,356€ respectively.

Monthly Variation: June 2022 VS May 2022

Sale | Properties announced 

The average price of the properties advertised on Imovirtual for sale in Portugal was 393,542€ in June 2022. We are therefore witnessing price stability marked by -0.6% compared with the previous month, which recorded an average price of 395,984€.

In June, the district that stands out with the largest percentage price variation increase over the month of May was, once again, Bragança, with an increase of 12.5%, from 194,076€ to 218,276€.

In second place is Beja with a greater percentage price variation compared to the previous month of 5.3%, with 136,722€ in May and 144,015€ in June. Viana do Castelo shows a 4.2% increase on May 2022.

This month there were no districts with sharp falls in the percentage variation in price compared with the previous month. Only Évora stands out with -8.9%, falling from 249,155€ to 226,965€.

Rentals | Properties announced 

In Portugal, the average price of property advertised on Imovirtual in the rental segment fell by -5.4%, down from 1,362€ in May to 1,289€ in June. However, comparing the average rental prices in June 2022 and June 2021 there was a significant increase of 27.4%.

Guarda is the district with the highest percentage increase of 49.3%, compared to May, rising from 550€ to 821€. 

Beja also stands out with a percentage increase of 47.8%, rising from 600€ in May to 887€ in June. Castelo Branco also saw a 30.7% increase, rising from 482€ to 630€.

On the contrary, Vila Rela and Viseu recorded a percentage drop in the average price of property of -32.2% and -23.2% respectively.

Annual Variation: June 2022 VS June 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 advertisements on Imovirtual in June 2022 with the same period last year, there was a 6.7% increase, rising from 368,694€ to 393,542€. 

The district with the highest percentage variation was Madeira (25.4%), with the average price rising from 354,800€ in the same period last year to 444,885€ in 2022.

Setúbal recorded a percentage variation of 21.5%, rising from 296,221€ to 359,973€. 

Évora is the district with the largest percentage drop in the period under consideration with -15.7% (from 269,284€ in 2021 to 226,965€ in 2022).

Rentals | Properties announced 

In the rental segment, there was a significant increase of 27.4%, comparing the average advertised prices for June 2022 (1,289€) with the same period of the previous year (1,012€).

Beja recorded the highest percentage increase of around 108.2% in the average advertised price, with the average monthly rent rising from 426€ to 887€ in June 2022. Guarda also presents a percentage increase of 82.4% and Faro 63.2%. 

The only district to record a percentage drop was Vila Real with -13.8% (from 428€ to 369€).