Summary

• Headline numbers:
  Average property sale prices +9% (YoY) compared to September 2020.
  Average property sale prices +1.4% (MoM) compared to August 2021.
  Average rental prices -4.2% (YoY) compared to September 2020.
  Average rental prices -1.3% (MoM) compared to August 2021.
• The average rental price of property listed on the Imovirtual website in September 2021 was 1,006€, with a decrease of -1.3% compared to the previous month (August 2021).
• The average sale price of property listed on the Imovirtual website in September 2021 was 370,372€, marking an increase of +1.4% compared to the previous month (August 2021), and an increase of +9% compared to the same month last year (September 2020).
• Lisbon, Faro, Região Autónoma da Madeira, and Porto remain the most expensive districts to buy a property with an average listing costing 592,960€, 493,860€, 371,970€ and 329,074€ respectively.
• Lisbon, Porto, Região Autónoma da Madeira, and Faro remain the most expensive districts to rent a property with an average listing costing 1,272€, 960€, 860€ and 821€ respectively.

Monthly Variation: September 2021 VS August 2021

Sale | Properties announced 

The average price of the properties advertised on Imovirtual for sale in Portugal was 370,372€ in September 2021. We witnessed a price stability marked by 1.4% compared to the previous month, which recorded an average price of 365,264€.

In the month of September, the district that stands out with the largest percentage price variation increase over August was Viseu with a growth of 2.9%.

In second place is Faro, with an increased percentage price variation compared to the previous month of 2%, with 484,232 euros in August and 493,860 euros in September. Also, Setúbal shows an increase of 1.9% compared to August 2021.

This month there was only one district with a sharp drop in the percentage variation in price compared to the previous month. This was Évora, which stands out with -3.5%, going from 248,679€ to 239,869€.

Rent | Properties announced 

In Portugal, the average price of property advertised on Imovirtual in the rental segment shows a slight decrease of -1.3% in September compared to August (€1,019 to €1,006).

Bragança is the district with the highest percentage growth of 17.8% compared to August, going from 382 euros to 450 euros. The other districts that show an increase, albeit slight, are Castelo Branco, Santarém, Beja and Évora with a percentage increase of 4.39%, 4.39%, 4.37% and 4.2%, respectively.

On the contrary, Portalegre and the Autonomous Region of Madeira show a percentage drop in the average price of property, with -2.7% and -2.6% respectively.

Annual Variation: September 2020 VS September 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 the property ads on Imovirtual in the month of September 2021 with the same period of the previous year, there is a growth of 9%, from 339,680€ to 370,372€. 

The district with the highest percentage variation was, again, Évora (18.1%), with the average price rising from €203,185 in the same period last year to €239,869 in 2021.

The Autonomous Region of Madeira and Vila Real recorded a percentage change of 18% and 11.9% respectively.

Guarda is, again, the district with the largest percentage drop in the period considered, with -9.1% (from 123,340€ in 2020 to 112,108€ in 2021).

Rentals | Properties announced 

In the rental segment, rental prices have been decreasing since 2019, this month is marked by -4.2%, comparing the average advertised prices for the month of September 2021 (1,006€) with the same period last year (1,050€).

Portalegre registered the highest percentage increase of 39% in the average advertised price, with the average monthly rent going from 313€ to 435€ in September 2021. Guarda also presents a percentage increase of 32.3% and Bragança an increase of 23%. 

The districts that recorded the largest percentage drop were Viseu with -7.6% (from €477 to €441) and Beja with -4.2% (from €549 to €526).