Portuguese property demand rebounds as buyers look for a deal

Demand for housing in Portugal rebounded by 62.9% in February 2021 from the same month last year, research from Imovirtual has found.

Average property prices have fallen year-on-year by -11.1% in both Evora and Guarda, to €189,125 and €112,886 respectively. It’s also -10.2% cheaper in Portalegre, where prices now average at €117,965.

This means buyers in those areas have a very real opportunity to get a good deal.

However prices didn’t fall everywhere, as they increased by 7.5% in Aveiro, rising to €228,910.

Rental prices for tourist hotspots in Portugal have dropped by 14.6% year-on-year.

This includes a -16.2% fall in Lisbon, where the average price per month is €1,272 compared to last year’s €1,517.

Meanwhile there was a fall of -5.9% in Madeira, and -20.6% in Porto.