16 October 2020 – Prime Yield’s Residential Market Barometer has revealed while prices are falling slightly in Lisbon due to the novel coronavirus pandemic, those prices are still significantly higher than during the last crisis that began in 2010. Prices are now 76% higher on average in Lisbon and 60% higher in Porto.
According to the report, the average cost of an apartment in Lisbon reached 4,795 euros/m2 in July of this year, down from €4,895/m2 in January. Nevertheless, prices went into the last crisis at an average of €2,787/m2 in January 2010. In Porto, the average per meter cost of a flat reached 3,058 euros/m2 in July, mostly unchanged from the beginning of the year (€3,012/m2), compared to 1,873 euros/m2.
Original Story: Diário Imobiliário
Translation/Summary: Richard D. Turner