Prices Fall in Porto’s Parishes

According to data from the big data real estate platform Brainsre, the average price of residential rental housing in Porto stood at 10.2 euros per square meter. The average monthly payment reached 958 euros per month.

Those figures are below average for Portugal, given that the average housing rental price in the country was 10.9 euros per square meter. In comparison, the average total cost amounted to 1,153 euros per month.

However, the data points to the pandemic’s impact in the municipality, as prices suffered an annual drop of 7.2%.

In contrast, Campanhã (€8.5/m2/month) and Paranhos (€8.8/m2/month) reported the lowest average prices in the fourth quarter of the year.

Concerning the average rental price of a home, the most expensive parish was, once again, the Union of Aldoar, Foz do Douro and Nevogilde, at 1,620 euros per month, followed by the Union of Lordelo do Ouro and Massarelos (1,114 euros per month), and Ramalde (1,112 euros per month).

On the opposite side, Paranhos positioned itself as the parish with the most affordable rents, at just 768 euros per month. Bonfim, with an average of 784 euros per month, and the Union of the parishes of Cedofeita, Santo Ildefonso, Sé, Miragaia with 831 euros per month, brought up the rear, according to data from Brains RE.

Prices Fall Across the Board

In the last year, every one of the parishes in Portoregistered falling prices.

União das freguesias de Cedofeita reported the most significant decline, at 11.22%. Paranhos followed with a drop of 9.21%, with Ramalde coming in at -6.14%.

Of the seven parishes that make up Porto, União das freguesias de Aldoar, Foz do Douro, and Nevogilde recorded the city’s highest average price in the last quarter of 2020 (€12/m2/month), slightly above the national average. The Union of the Parishes of Cedofeita, Santo Ildefonso, Sé, Miragaia and the Union of the Parishes of Lordelo do Ouro and Massarelos followed, with an average of 10.7 and 10.3 euros per square meter per month, respectively.

In contrast, Campanhã (€8.5/m2/month) and Paranhos (€8.8/m2/month) reported the lowest average prices in the fourth quarter of the year.

Concerning the average rental price of a home, the most expensive parish was, once again, the Union of Aldoar, Foz do Douro and Nevogilde, at 1,620 euros per month, followed by the Union of Lordelo do Ouro and Massarelos (1,114 euros per month), and Ramalde (1,112 euros per month).

On the opposite side, Paranhos positioned itself as the parish with the most affordable rents, at just 768 euros per month. Bonfim, with an average of 784 euros per month, and the Union of the parishes of Cedofeita, Santo Ildefonso, Sé, Miragaia with 831 euros per month, brought up the rear, according to data from Brains RE.

Prices Fall Across the Board

In the last year, every one of the parishes in Portoregistered falling prices.

União das freguesias de Cedofeita reported the most significant decline, at 11.22%. Paranhos followed with a drop of 9.21%, with Ramalde coming in at -6.14%.