Imovirtual, a leading real estate portal, releases today (April 30) its barometer regarding the evolution of average advertised rental and sales prices in the district of Faro.
The data now shared refers to the comparison of April, this year, with the same period in April 2023.
Sale
At a national level, with regard to house sales prices, there has been a slight increase. In general, buying a house continues to be around €30,000 more expensive than in April last year (+10%), a period in which the average sale value was €295,000 and is now €325,000 . When compared to last month, March of this year, there is stabilization, based on a slight increase of €5,000.
Focusing on the district of Faro, in April this year, buying a house costs, on average, €411,180. Compared to last month, March 2024, there is a decrease (-3.25%), as in that period buying a house cost €425,000. However, when compared to the same period in April 2023, when buying a house cost, on average, €399,000, there is an increase of 3.05%, making it now €12,180 more expensive.
Featured municipalities:
The municipality that recorded the biggest increase in the average price of houses for sale, compared to April 2023, was Alcoutim (+40%), where values rose from €85,000 to €119,000. Followed by Aljezur (+28.48%, €377,500 to €485,000) and Castro Marim (+23.86%, €440,000 to €545,000).
Loulé (-0.26%, from €575,000 to €573,500) is the only municipality that, compared to April last year, recorded a smaller increase in the average sale price of houses.
Alcoutim (€119,000) stands out as the cheapest municipality to buy a house in April. The most expensive are Vila do Bispo (€600,000), Lagos (€595,000), Loulé (€573,500) and Castro Marim (€545,000).
Lease
At a national level, in relation to the average value of properties for rent, there is an increase in the average rent of +8%, making it €100 more expensive, when compared to the same period last year. Although we are seeing a slight stabilization of average values, in April there was an increase (+4%), compared to last month, now standing at €1,300.
As far as the district of Faro is concerned, renting a house costs, on average, €1,100, the same value as the previous month, March 2024. Compared to April 2023, there is an increase of 10%, a period in which renting a house cost, on average, €1,000.
Featured municipalities:
Silves (+124%) was the municipality that recorded the greatest increase in the average rental price of houses, compared to April 2023, with values rising from €625 to €1,400.
On the other hand, Lagos (-27.5%) was the municipality that recorded the biggest drop in average prices, when compared to the same period last year, with values falling from €1,200 to €869.5.
Vila Real de Santo António was the only municipality in which values remained the same when compared to the same period last year (€750).
Vila Real de Santo António (€750) stands out as the cheapest municipality to rent a house in April. The most expensive are Loulé and Albufeira (€1,500).
