Around 49,000 homes were sold in mainland Portugal in the first three months of 2021, during which time the country went through its second general lockdown. This represents an increase of 57% compared to the first lockdown, which took place in the second quarter of 2020.

The difference compared to the previous lockdown was particularly significant in the Algarve, which registered an increase of 76%, more than anywhere else in the country. Meanwhile, in the Metropolitan Areas of Lisbon and Porto, sales increased by 47% and 46%, respectively.

The figures comes from national data bank Confidencial Imobiliário, based on information in the SIR - Residential Information System, reported by real estate agents nationwide. While the increase was felt across the country, with an average quarterly increase of 5%, the Algarve recorded a 6% rise in house sales.

According to the data bank, the average selling prices in Portugal in the first quarter of 2021 stood at €1,715 per square metre. In the Algarve, that figure was €1,836. The numbers reflect the news that house prices have still been rising steadily, while the average cost to rent a property has dropped (read more).

This could all change in September, say experts, with the end of loan repayments driving a drop in property prices (see here).

For expert advice on when and where to buy your dream property in these uncertain times, contact the team at Algarve Home Sales here.