Portugal’s House Prices Increase Whilst Rental Prices Decrease

In their annual report on house purchase and rental prices in Portugal Imovirtual have seen increases in the price of buying property in many areas but a reduction in rental prices.  Here they set out the results for each area.

Written exclusively for Expat Network by Imovirtual

 

House Prices in Portugal

House prices in Portugal have experienced great success, with prices increasing year on year due to the ever-growing demand from both expats and Portuguese natives. Popular destinations such as Lisbon, Faro and Madeira are reported to be the most expensive locations to buy property in, with average prices totalling as much as €574,107 (Lisbon). However, although the house prices in these destinations are deemed very expensive, buyers can benefit from an affordable life by the sea whilst investing in property that will continue to see increases in value over the next few years.

See average property prices in Portugal by region below (data compares April 2019 and April 2020 prices).

 

Annual average property price in 2019: 323,207€

Annual average property price in 2020: 357,733€

Percentage increase: 10.68%

 

Rental Prices in Portugal

Rental prices in Portugal continue to drop, a noticeable trend from recent years, with many popular destinations experiencing dramatic declines in their regions. The data shows that popular regions are becoming more and more affordable for those who wish to live abroad for a long duration. Since April 2019, average rental prices have dropped sharply by -14.2%. The districts that registered the biggest percentage drop were Guarda with -40%, Bragança with -24.3% and Faro with -24.1%.

See average rental prices in Portugal by region below (data compares April 2019 and April 2020 prices). Rental prices per 4 weeks.

 

Annual average rental price in 2019: 1,377€

Annual average rental price in 2020: 1,182€

Percentage decrease of: -14.16%

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Imovirtual is a real estate and property management portal based in Portugal with a portfolio of over 300,000 properties across both long-term and short-term property requirements. Based in the capital, Lisbon, Imovirtual offers the simplest, fastest and most practical method of searching for properties across all districts and regions in Portugal.

https://www.imovirtual.com/en/