Portuguese property prices yet to see a major fall

The average price of properties for sale in Portugal fell by just 0.8% between April and May 2020.

The average price of properties listed by real estate portal Imovirtual was €359.497 in May.

Compared to the year before house price growth is still significant.

In May 2020 properties listed had an average house price which was 12.8% higher, rising from €318.808 to €359.497.

On a monthly basis Portalegre was the district with the highest percentage price drop, of -1.3% to €135.454.

The district that showed the biggest increase in percentage price variation compared to April was Vila Real, with a growth of 4% to €182.160.

Lisbon remains the most expensive district to buy a property in Portugal.

In the capital the average price has risen by 18% year-on-year from €502.033 in May 2019 to €592.709 in the same month this year.