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Penamacor · report

Past price cycles in Penamacor

Asking prices have fallen by 3% or more 5 times since 2021. The deepest began in April 2023.

Deepest fall
−14.0%
Recovery from the low
8 months

Prices in Penamacor and Portugal, indexed

Asking prices, both set to 100 in August 2021.

  • Penamacor
  • Portugal
  • 100 = August 2021
Show the numbers
PeriodPenamacorPortugal
Sep 2026134.6150.3
Aug 2026128.9149.3
Jul 2026129.2149.4
Jun 2026123.9149.5
May 2026121.9148.9
Apr 2026120.5148.9
Mar 2026119.1147.8
Feb 2026115.7146.2
Jan 2026116.6144.9
Dec 2025117.7143.4
Nov 2025116.3142.6
Oct 2025111.8140.7
Sep 2025107.0139.3
Aug 2025107.0138.9
Jul 2025107.6138.4
Jun 2025107.9136.8
May 2025108.1134.6
Apr 2025106.7133.5
Mar 2025108.1131.8
Feb 2025110.7130.1
Jan 2025109.0128.2
Dec 2024107.0126.6
Nov 2024108.4124.7
Oct 2024112.6123.4
Sep 2024110.7122.7
Aug 2024110.4122.3
Jul 2024110.1122.2
Jun 2024109.8121.1
May 2024106.5120.5
Apr 2024102.5118.8
Mar 2024102.2117.9
Feb 2024100.3116.9
Jan 202497.2116.3
Dec 202394.9114.9
Nov 202396.6113.8
Oct 202397.5112.1
Sep 2023101.1111.3
Aug 2023102.0111.0
Jul 2023102.5111.4
Jun 2023103.9111.3
May 2023105.1110.3
Apr 2023110.4109.8
Mar 2023109.8108.8
Feb 2023109.0108.2
Jan 2023108.4107.5
Dec 2022104.5107.0
Nov 2022100.8106.8
Oct 202298.9105.2
Sep 2022103.1104.6
Aug 2022107.3104.4
Jul 2022102.2104.2
Jun 2022102.5104.2
May 2022100.8104.1
Apr 2022100.6103.5
Mar 2022102.0103.5
Feb 2022105.9103.1
Jan 2022106.7102.6
Dec 2021103.9102.5
Nov 2021101.1102.2
Oct 202198.3101.6
Sep 202195.5100.4
Aug 2021100.0100.0

Every fall of 3% or more

From the peak to the lowest month after it, and how long prices took to get back.

PeakLowFallMonths fallingMonths to recover
August 2021September 2021−4.5%12
January 2022April 2022−5.8%34
August 2022October 2022−7.9%23
April 2023December 2023−14.0%88
October 2024April 2025−5.2%67

Portugal against the EU since 2015

Eurostat's house price index for all dwellings, 2015 = 100. National figures, comparable across member states.

  • Portugal
  • EU
  • 2015 = 100
Show the numbers
PeriodPortugalEU
Q2 2026301.4168.6
Q1 2026291.0166.5
Q4 2025280.2164.6
Q3 2025269.4163.5
Q2 2025258.8161.0
Q1 2025247.1158.5
Q4 2024235.7156.2
Q3 2024228.9155.1
Q2 2024220.7152.7
Q1 2024212.5149.8
Q4 2023211.3148.9
Q3 2023208.5149.1
Q2 2023204.7148.2
Q1 2023198.6147.6
Q4 2022195.9148.7
Q3 2022193.8150.9
Q2 2022188.3149.6
Q1 2022182.6146.2
Q4 2021176.0143.2
Q3 2021171.3140.2
Q2 2021166.4136.0
Q1 2021161.7132.1
Q4 2020157.7129.8
Q3 2020153.6128.1
Q2 2020154.3126.3
Q1 2020151.7124.4
Q4 2019146.1122.7
Q3 2019143.7121.5
Q2 2019140.7119.8
Q1 2019137.1117.6
Q4 2018132.3116.8
Q3 2018129.7115.9
Q2 2018128.5114.2
Q1 2018125.6112.3
Q4 2017121.1111.2
Q3 2017119.6110.4
Q2 2017115.5108.8
Q1 2017111.9106.9
Q4 2016109.6106.1
Q3 2016108.3105.4
Q2 2016106.9103.8
Q1 2016103.7102.0
Q4 2015101.8101.1
Q3 2015100.7100.8
Q2 2015100.699.8
Q1 201596.998.3

Bank valuations go back to 2011, so they include the fall after the euro crisis; asking prices start in 2015. A fall counts once prices drop 3% below a peak, and ends when they are back at it.

Other reports for Penamacor

Next 12 months

Asking prices have an 80% chance of landing between €522/m² and €633/m² by September 2027.

Expected, September 2027
€578/m²
Chance of a rise
99%

Affordability

At the median sale price, a 90 m² home costs €36,180. With 10% down and a 30-year mortgage, the payment is €137 a month. Banco de Portugal caps it at 50% of a household's net income.

Payment, two incomes
6%
Payment, one income
12%

Buy or rent

Owning a 90 m² home costs less each month than renting it. Owning counts interest, running costs and the return the deposit could earn, at the median sale price. Repaying the loan is saving, so it is left out.

Rent per month
€300
Owning per month
€127

New homes

51.9% fewer homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
1
Per 1,000 residents
0.2

Foreign buyers

Figures for Beira Baixa: Penamacor has no reliable figures of its own.

Over the last 12 months, buyers domiciled abroad paid 22.9% less per m² than buyers living in Portugal.

Abroad against residents
−22.9%

People and new homes

In 2025 the population grew by 39 while 1 homes were finished: 39.0 new residents for every new home.

New residents per new home, 2025
39.0
Population change, 2025
+39

Empty homes

15.9% of the 6,839 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
15.9%
Empty homes
1,084

Renovation

In 2025, 25% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.

Work on existing buildings, 2025
25%
Reconstructions per 100 new buildings
0.0

Public housing works

Public bodies signed €366.8K of housing works here in 2025, and €366.8K since 2012.

Signed in 2025
€366.8K
Per resident, 2025
€84

Data: INE, ECB and others · updated October 27, 2026

Asking prices and bank valuations are not sale prices. This is a description of public data, not financial advice.

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