Average rental and home sale prices significantly increased from 2022 to 2023.
The average value of both rents and house prices increased significantly in 2023 compared to 2022. Find out the numbers in question, and how to find the property at the best cost.
Looking for a house? And for a mortgage? Contact the real estate agency Casa no Minuto and the credit intermediaries of Poupança no Minuto to find out how we can help! But first, read about the amounts involved in rental and home purchase in the past year.
Incomes increased, on average, 350€ from 2022 to 2023.
The barometer of the real estate portal Imovirtual, quoted by Notícias ao Minuto, revealed that in 2023 rents increased on average by 350 euros compared to 2022.
Comparing to 2022, the average income increased by 41%, reaching 1,200 euros monthly.
"Regarding the average value of properties for rent, there has been an increase in the average rent of +41%, costing 350 euros more compared to 2022. Despite some fluctuations throughout the year, with a tendency towards a slight stabilization of average values, in 2023 there was an increase (+41%), now standing at 1,200€", as reported in a news article by Notícias ao Minuto."
Through the barometer, the increase in the average rental value is mainly caused by the districts of Portalegre, Leiria, and Madeira Island. In contrast, the districts of Coimbra, Bragança, and Terceira Island recorded the smallest price increase.
Average house sale price increasing by 5%
Regarding the sale of houses, the average acquisition price did not have such a sharp increase from 2022 to 2023 - settling the increase at 5%. Compared to 2022, the average price of houses increased by around 12,950 euros, to 299,950 euros in 2023.
The average price of houses has been stable across the country, with higher increases in the districts of Castelo Branco, Évora, and Coimbra. Although no district showed a decrease in prices, the districts with the lowest increases were Braga, Bragança, Lisbon, and Porto.
Most expensive house value? Find the right property and financing.
If you want to buy a house, in 2024 the expectations are that house prices in the real estate market will slightly decrease.
To buy the right property, with the ideal credit for you, it is also important to have the appropriate help.
By using a real estate agency like Casa no Minuto to search for your new home, you can have a consultant help you negotiate the purchase price, as well as take care of all the bureaucracy.
Afterwards, if you need financing for the property, the credit intermediaries from Poupança no Minuto can request several proposals from different banks, helping you decide which one is most advantageous for your wallet!