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Torres Novas · report

Past price cycles in Torres Novas

Bank valuations have fallen by 3% or more 11 times since 2015. The deepest began in June 2020.

Deepest fall
−21.1%
Recovery from the low
14 months

Prices in Torres Novas and Portugal, indexed

Bank valuations, both set to 100 in March 2015.

  • Torres Novas
  • Portugal
  • 100 = March 2015
Show the numbers
PeriodTorres NovasPortugal
Sep 2026298.0301.3
Aug 2026296.7298.1
Jul 2026299.1296.3
Jun 2026294.4294.7
May 2026293.0292.1
Apr 2026271.1287.6
Mar 2026273.9284.5
Feb 2026274.4280.7
Jan 2026281.1278.4
Dec 2025273.0275.3
Nov 2025265.9272.5
Oct 2025247.6267.9
Sep 2025233.0263.9
Aug 2025229.4259.9
Jul 2025229.4257.3
Jun 2025228.3252.8
May 2025231.7249.5
Apr 2025222.2246.8
Mar 2025218.3244.3
Feb 2025212.4239.4
Jan 2025217.6234.7
Dec 2024218.1231.1
Nov 2024210.2230.2
Oct 2024211.3227.6
Sep 2024202.4224.2
Aug 2024210.9220.1
Jul 2024199.6216.7
Jun 2024195.4214.0
May 2024192.2213.0
Apr 2024193.5211.1
Mar 2024194.3209.0
Feb 2024194.3206.3
Jan 2024196.3205.0
Dec 2023195.6203.2
Nov 2023186.5202.4
Oct 2023170.7203.2
Sep 2023170.7203.8
Aug 2023174.3203.4
Jul 2023175.9201.7
Jun 2023173.7200.8
May 2023172.8199.7
Apr 2023171.7197.2
Mar 2023170.6196.2
Feb 2023169.1195.5
Jan 2023165.7196.4
Dec 2022169.3192.9
Nov 2022169.3191.7
Oct 2022170.9187.8
Sep 2022167.8189.0
Aug 2022170.6187.0
Jul 2022167.0187.4
Jun 2022164.6186.1
May 2022154.6182.5
Apr 2022153.1179.4
Mar 2022152.6176.1
Feb 2022150.4173.8
Jan 2022152.8170.9
Dec 2021148.3170.0
Nov 2021143.7168.3
Oct 2021139.6165.5
Sep 2021138.0163.5
Aug 2021138.9161.5
Jul 2021143.5161.5
Jun 2021141.1160.7
May 2021136.5160.3
Apr 2021127.6158.7
Mar 2021144.4157.0
Feb 2021144.4155.3
Jan 2021139.8154.8
Dec 2020133.0152.9
Nov 2020140.7151.3
Oct 2020140.9149.6
Sep 2020143.3149.2
Aug 2020145.0149.2
Jul 2020150.7149.1
Jun 2020161.7148.0
May 2020147.4147.4
Apr 2020145.7147.0
Mar 2020135.4146.8
Feb 2020135.4147.0
Jan 2020140.4145.9
Dec 2019146.3144.3
Nov 2019145.6142.3
Oct 2019142.0141.4
Sep 2019140.6141.0
Aug 2019136.5139.4
Jul 2019139.8138.1
Jun 2019139.8136.2
May 2019145.0135.3
Apr 2019142.2134.3
Mar 2019154.4133.1
Feb 2019135.0132.3
Jan 2019130.6130.0
Dec 2018120.9129.2
Nov 2018124.1128.0
Oct 2018123.5127.9
Sep 2018133.1126.9
Aug 2018130.2125.8
Jul 2018124.6124.5
Jun 2018122.6123.3
May 2018123.7122.9
Apr 2018122.2122.2
Mar 2018119.4121.7
Feb 2018113.9120.5
Jan 2018116.1119.3
Dec 2017120.7117.9
Nov 2017127.4117.6
Oct 2017127.2117.2
Sep 2017127.0116.5
Aug 2017131.7114.8
Jul 2017126.1113.9
Jun 2017122.6113.8
May 2017107.2113.4
Apr 2017106.7113.0
Mar 2017102.2112.3
Feb 2017102.4112.0
Jan 2017102.4111.2
Dec 2016120.4110.2
Nov 2016123.1109.3
Oct 2016128.5108.5
Sep 2016122.8107.9
Aug 2016125.6107.7
Jul 2016119.3106.6
Jun 2016125.7106.2
May 2016122.6105.8
Apr 2016119.1105.0
Mar 2016106.1104.2
Feb 2016112.8103.8
Jan 2016115.7103.8
Dec 2015119.1104.2
Nov 2015115.7103.6
Oct 2015120.0103.2
Sep 2015110.0102.8
Aug 2015118.1102.4
Jul 2015118.1102.6
Jun 2015113.5101.7
May 2015108.9101.6
Apr 2015101.1100.5
Mar 2015100.0100.0

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 2015September 2015−6.9%11
October 2015March 2016−11.6%52
June 2016July 2016−5.2%13
October 2016March 2017−20.5%55
August 2017February 2018−13.5%67
September 2018December 2018−9.2%32
March 2019February 2020−12.4%114
June 2020April 2021−21.1%1014
October 2022January 2023−3.0%33
August 2024September 2024−4.0%11
January 2026April 2026−3.6%31

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 Torres Novas

Next 12 months

Asking prices have an 80% chance of landing between €1,579/m² and €1,987/m² by September 2027.

Expected, September 2027
€1,783/m²
Chance of a rise
96%

Affordability

At the bank valuation, a 90 m² home costs €144,810. With 10% down and a 30-year mortgage, the payment is €549 a month. Banco de Portugal caps it at 50% of a household's net income.

Payment, two incomes
21%
Payment, one income
42%

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
€599
Owning per month
€379

Asking against valuation

Sellers ask 6.0% less than banks value homes at. A year ago the gap was −5.1%.

Gap today
−6.0%
Change in a year
−0.9 pp

New homes

46.9% fewer homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
30
Per 1,000 residents
0.8

Foreign buyers

Figures for Médio Tejo: Torres Novas has no reliable figures of its own.

Over the last 12 months, buyers domiciled abroad paid 9.9% less per m² than buyers living in Portugal.

Abroad against residents
−9.9%

People and new homes

In 2025 the population grew by 335 while 99 homes were finished: 3.4 new residents for every new home.

New residents per new home, 2025
3.4
Population change, 2025
+335

Empty homes

17.4% of the 20,974 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
17.4%
Empty homes
3,640

Renovation

In 2025, 20% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.

Work on existing buildings, 2025
20%
Reconstructions per 100 new buildings
0.0

Public housing works

Public bodies signed €5.4M of housing works here in 2025, and €7.8M since 2012.

Signed in 2025
€5.4M
Per resident, 2025
€149

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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