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Serpa · report

Past price cycles in Serpa

Asking prices have fallen by 3% or more 5 times since 2015. The deepest began in August 2016.

Deepest fall
−18.2%
Recovery from the low
57 months

Prices in Serpa and Portugal, indexed

Asking prices, both set to 100 in November 2015.

  • Serpa
  • Portugal
  • 100 = November 2015
Show the numbers
PeriodSerpaPortugal
Sep 2026167.5294.5
Aug 2026169.5292.6
Jul 2026162.5292.9
Jun 2026164.1293.0
May 2026163.3291.8
Apr 2026162.7291.8
Mar 2026145.5289.6
Feb 2026150.6286.6
Jan 2026161.2283.9
Dec 2025151.0281.0
Nov 2025151.0279.5
Oct 2025154.5275.8
Sep 2025147.6273.1
Aug 2025140.6272.2
Jul 2025133.6271.2
Jun 2025126.6268.1
May 2025132.6263.8
Apr 2025127.9261.6
Mar 2025132.8258.4
Feb 2025130.8255.0
Jan 2025134.9251.2
Dec 2024130.8248.2
Nov 2024126.9244.3
Oct 2024123.1241.8
Sep 2024119.2240.5
Aug 2024114.0239.6
Jul 2024108.9239.4
Jun 2024109.6237.4
May 2024106.3236.1
Apr 2024106.0232.8
Mar 2024107.8231.0
Feb 2024106.8229.2
Jan 2024103.9227.9
Dec 2023107.5225.1
Nov 2023104.9223.1
Oct 2023108.0219.7
Sep 2023111.0218.1
Aug 2023111.2217.6
Jul 2023111.9218.3
Jun 2023112.3218.2
May 2023112.2216.1
Apr 2023110.1215.2
Mar 2023108.0213.2
Feb 2023105.7212.1
Jan 2023101.1210.8
Dec 202298.4209.8
Nov 202299.5209.3
Oct 2022100.2206.1
Sep 2022103.1204.9
Aug 2022104.2204.6
Jul 2022108.0204.3
Jun 2022109.4204.2
May 2022104.7203.9
Apr 2022100.2202.8
Mar 202295.5202.9
Feb 202292.5202.0
Jan 202297.6201.1
Dec 2021102.6200.9
Nov 2021102.1200.4
Oct 2021107.6199.2
Sep 2021107.3196.8
Aug 2021102.6196.0
Jul 202197.9195.3
Jun 202199.7193.5
May 202197.2192.3
Apr 202197.9191.3
Mar 2021100.6191.2
Feb 202199.5190.6
Jan 202198.1191.1
Dec 202098.9189.9
Nov 2020104.2188.3
Oct 2020105.2185.9
Sep 2020107.5183.9
Aug 2020106.3182.8
Jul 2020108.3181.8
Jun 2020108.1182.7
May 2020105.0183.4
Apr 2020103.4184.3
Mar 2020105.7182.5
Feb 2020108.4181.3
Jan 2020106.2179.2
Dec 2019101.8180.4
Nov 201998.1179.4
Oct 201999.4178.9
Sep 2019104.2178.6
Aug 2019100.5178.8
Jul 201997.9178.9
Jun 201998.5176.2
May 201996.1172.1
Apr 201996.8168.3
Mar 201998.9166.5
Feb 2019101.8164.4
Jan 2019100.0162.7
Dec 201899.4162.2
Nov 2018101.3160.9
Oct 201897.6159.0
Sep 201895.5155.4
Aug 201891.7152.5
Jul 201897.2152.0
Jun 201898.9148.6
May 201899.4147.3
Apr 2018101.6144.2
Mar 2018102.4142.7
Feb 2018101.1142.1
Jan 2018104.1139.9
Dec 2017102.9140.2
Nov 2017102.4138.6
Oct 201798.5136.6
Sep 201797.2133.7
Aug 201797.6131.8
Jul 201796.3129.6
Jun 201796.4127.8
May 201797.1124.9
Apr 201797.9124.7
Mar 2017100.6123.4
Feb 2017100.2121.4
Jan 2017102.4119.9
Dec 2016104.4118.9
Nov 2016107.1118.2
Oct 2016108.4115.8
Sep 2016109.7112.6
Aug 2016112.2109.6
Jul 2016109.1105.8
Jun 2016106.2105.7
May 2016103.1104.7
Apr 2016100.8104.0
Mar 2016100.8104.9
Feb 201698.1104.7
Jan 2016100.8103.5
Dec 2015103.9101.6
Nov 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
December 2015February 2016−5.6%24
August 2016August 2018−18.2%2457
June 2023January 2024−7.5%77
January 2025June 2025−6.1%52
January 2026March 2026−9.8%21

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 Serpa

Next 12 months

Asking prices have an 80% chance of landing between €1,118/m² and €1,512/m² by September 2027.

Expected, September 2027
€1,315/m²
Chance of a rise
97%

Affordability

At the median sale price, a 90 m² home costs €63,270. With 10% down and a 30-year mortgage, the payment is €240 a month. Banco de Portugal caps it at 50% of a household's net income.

Payment, two incomes
11%
Payment, one income
22%

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
€391
Owning per month
€222

New homes

61.8% fewer homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
5
Per 1,000 residents
0.3

Foreign buyers

Figures for Baixo Alentejo: Serpa has no reliable figures of its own.

Over the last 12 months, buyers domiciled abroad paid 5.6% less per m² than buyers living in Portugal.

Abroad against residents
−5.6%

People and new homes

In 2025 the population fell by 195 while 6 homes were finished.

Homes finished, 2025
6
Population change, 2025
−195

Empty homes

13.1% of the 10,478 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
13.1%
Empty homes
1,371

Renovation

In 2025, 50% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.

Work on existing buildings, 2025
50%
Reconstructions per 100 new buildings
0.0

Public housing works

Public bodies signed €92.5K of housing works here in 2025, and €193.6K since 2012.

Signed in 2025
€92.5K
Per resident, 2025
€6

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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