A recent study has revealed that demand for villas, farms, estates and land has continued to grow significantly in the first half of this year. The results, gathered by real estate portal Imovirtual, come just one month before the end of the moratoriums in Portugal (read more here).

The data shows that buyers are continuously looking for homes with more space. Between January and June, demand for houses had risen 36.7% compared to the same period in 2019, and 16.2% compared to the first half of 2020. Demand for apartments has declined.

Prices have also followed this rise in demand, especially in the Algarve and Lisbon. The average cost of a property for sale increased 7.92% compared to the same period in 2019, and 3.36% compared to 2020. The average price nationally now stands at €419,188; in the Algarve, that figure is €676,196.

Demand for land has also increased by almost 70%, representing the category that has seen the most growth. It's followed by farms and estates, with a 43.5% rise compared to the pre-pandemic.

“The comparison with 2020, although with more tenuous growth than compared to 2019, reinforces the consumption trend already identified as a consequence of the real estate pandemic, which is the search for housing solutions with dimensions generally associated with a better quality of life, that are in line with the new times and with the prospects for the future,” says Ricardo Feferbaum, general director of Imovirtual.

These figures come just before the moratoriums in Portugal are set to end in September, which experts believe will lead to a drop in house prices. Given this timing, and with demand for villas and larger properties still on the up, those thinking of selling their home in Portugal may find that now is the time to do so.

Take a look at our guide on selling a home in the Algarve, or drop us a line here for further advice on timing your sale.