The third quarter revealed a 7.6% increase in house prices in Portugal compared to the same period of 2020.
Data from Imovirtual revealed that the average property value, which in the third quarter stood at â¬ 368,441, rose another 1.4% from the second quarter of this year.
Lisbon (â¬ 591,072), Faro (â¬ 485,065) and Madeira (â¬ 369,579) turned out to be the most expensive neighborhoods in the neighborhood analyzed by the real estate portal.
Real estate sales
The average property value in Portugal currently stands at â¬ 368,441, which is around â¬ 25,900 more than the same period in 2020. Compared to the second quarter of this year (average price of â¬ 363,475), it There was also an increase of +1.4 percent.
The report found that all districts analyzed show an average price increase in the third quarter of 2021 compared to the second quarter. Lisbon (â¬ 591,072), Faro (â¬ 485,065) and Madeira (â¬ 369,579) are the most expensive regions, while Guarda (â¬ 113,304), Castelo Branco (â¬ 124,717) and Portalegre (â¬ 129,543) are the cheapest.
The most significant increases compared to the second semester were recorded in Portalegre, with an average value of â¬ 129,543 (+ 7.3%); Vila Real, with an average value of â¬ 191,057 (+ 6.8%); Madeira, with an average value of â¬ 369,579 (+ 5.7%) and SetÃºbal, with an average value of â¬ 306,522 (+ 5.2%).
The districts with the highest increase in the average selling price in the third quarter of this year compared to the same period in 2020 are Ãvora (+ 29.3%), with an average price of â¬ 258,395, Madeira (+17, 9%) and Portalegre. (+12.4 percent).
Regarding leasing, the average price increased slightly by + 0.6%, which went from â¬ 996 in the second half to â¬ 1,002 in the third quarter. However, compared to the third quarter of last year, when the average rental price was â¬ 1,054, there was a decrease of -4.9%.
The most expensive areas to rent in Portugal in the third quarter were Lisbon (â¬ 1,263), Porto (â¬ 947), Madeira (â¬ 874), Faro (â¬ 826) and SetÃºbal (â¬ 761), while in other At the end of the scale, Castelo Branco (â¬ 399), BraganÃ§a (â¬ 401) and Portalegre (â¬ 421) were the cheapest.
Beja (+ 16.2%), Vila Real (+ 15.8%) and Portalegre (+ 15.3%) were the areas with the largest increase in rental prices announced in the third quarter compared to the second quarter, recording respectively the values ââof 496 â¬, 513 â¬ and 421 â¬.