"In relation to the average value of properties for rent, it appears that there was an increase in average rent of +43%, with 514 euros more expensive, when compared to the same period last year", revealed the portal.
As the website explains, "since the beginning of the year, there has been a slight stabilisation of average values, however, in August there was a slight increase (+5%), now settling at 1,723 euros".
In general, "a slowdown in house prices is taking place, but it continues to be around 32,833 euros more expensive to buy a house than in August last year", an increase of 8%.
"Regarding the designation of the property, we saw a rise in prices. Buying a house currently costs, on average, €464,999, an increase of 14% compared to the same period last year. While an apartment had a slight increase, it costs, in average, around €389,016, an increase of 3%, when compared to August 2022".
T2 and T1 houses have registered a "significant increase in prices, having risen by 24% and 18%, respectively".
Asking price is not the same as agreed price... If I don't sell at 1000 I could easily not sell at 3000 as well but have higher perceived/imagined value. I see outlandish prices when I occasionally check the ads, then some of them get slashed by up to 50% and still not selling.
By dpx from Algarve on 29 Aug 2023, 17:45
I have to pay up to 28 % income tax on my rental income - renting long term to a family. Now I've heard that short term rentals aka air b & b, holiday rentals are charged at 15 %!???!!! This really stinks!
By Aaron from Algarve on 30 Aug 2023, 06:57