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Trofa · report

Past price cycles in Trofa

Bank valuations have fallen by 3% or more 8 times since 2015. The deepest began in November 2022.

Deepest fall
−12.0%
Recovery from the low
10 months

Prices in Trofa and Portugal, indexed

Bank valuations, both set to 100 in November 2015.

  • Trofa
  • Portugal
  • 100 = November 2015
Show the numbers
PeriodTrofaPortugal
Sep 2026296.1290.9
Aug 2026279.6287.9
Jul 2026262.8286.1
Jun 2026262.7284.5
May 2026268.8282.0
Apr 2026272.6277.7
Mar 2026269.0274.7
Feb 2026268.5271.0
Jan 2026264.6268.8
Dec 2025262.5265.8
Nov 2025251.7263.1
Oct 2025248.0258.6
Sep 2025245.6254.8
Aug 2025248.6251.0
Jul 2025246.5248.4
Jun 2025240.5244.1
May 2025234.6240.9
Apr 2025230.1238.3
Mar 2025232.4235.9
Feb 2025227.7231.2
Jan 2025228.8226.6
Dec 2024224.9223.1
Nov 2024223.8222.2
Oct 2024207.8219.8
Sep 2024207.6216.5
Aug 2024202.4212.5
Jul 2024203.0209.2
Jun 2024202.4206.6
May 2024199.3205.6
Apr 2024199.0203.8
Mar 2024190.3201.8
Feb 2024187.3199.2
Jan 2024182.9198.0
Dec 2023190.0196.2
Nov 2023195.8195.4
Oct 2023196.1196.2
Sep 2023194.3196.8
Aug 2023178.0196.4
Jul 2023175.3194.8
Jun 2023179.9193.9
May 2023186.2192.8
Apr 2023184.9190.4
Mar 2023187.4189.4
Feb 2023187.6188.8
Jan 2023188.8189.7
Dec 2022187.6186.2
Nov 2022199.1185.1
Oct 2022193.9181.4
Sep 2022184.6182.5
Aug 2022172.1180.6
Jul 2022161.5181.0
Jun 2022158.2179.7
May 2022162.4176.2
Apr 2022161.9173.2
Mar 2022163.1170.0
Feb 2022158.5167.8
Jan 2022155.2165.0
Dec 2021154.4164.1
Nov 2021158.2162.5
Oct 2021154.3159.8
Sep 2021153.7157.9
Aug 2021146.2155.9
Jul 2021142.4155.9
Jun 2021142.3155.2
May 2021143.3154.8
Apr 2021144.8153.3
Mar 2021143.3151.6
Feb 2021142.4149.9
Jan 2021147.1149.4
Dec 2020148.0147.6
Nov 2020143.6146.1
Oct 2020142.4144.4
Sep 2020141.4144.1
Aug 2020140.0144.1
Jul 2020140.2143.9
Jun 2020136.3142.9
May 2020145.4142.3
Apr 2020139.0141.9
Mar 2020139.0141.8
Feb 2020136.6141.9
Jan 2020135.7140.9
Dec 2019135.5139.3
Nov 2019131.6137.4
Oct 2019131.6136.5
Sep 2019129.2136.1
Aug 2019128.3134.6
Jul 2019125.9133.3
Jun 2019123.4131.5
May 2019119.2130.7
Apr 2019118.0129.6
Mar 2019115.9128.5
Feb 2019116.6127.7
Jan 2019115.9125.5
Dec 2018115.9124.8
Nov 2018114.4123.6
Oct 2018112.3123.5
Sep 2018111.1122.5
Aug 2018110.6121.5
Jul 2018107.0120.2
Jun 2018103.6119.0
May 201899.3118.6
Apr 201897.5118.0
Mar 2018102.2117.5
Feb 2018107.3116.3
Jan 2018107.3115.2
Dec 2017104.6113.8
Nov 2017102.8113.5
Oct 2017102.8113.2
Sep 2017100.6112.5
Aug 201797.0110.9
Jul 201795.4110.0
Jun 201796.9109.8
May 201797.0109.5
Apr 2017101.5109.1
Mar 201797.8108.4
Feb 2017102.4108.2
Jan 2017101.6107.4
Dec 2016101.9106.4
Nov 201699.0105.5
Oct 201699.9104.7
Sep 201699.3104.2
Aug 201699.1104.0
Jul 201698.1102.9
Jun 201695.7102.6
May 201698.5102.2
Apr 201692.1101.4
Mar 201690.6100.6
Feb 201689.7100.3
Jan 201694.8100.3
Dec 2015100.4100.6
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 2016−10.7%210
February 2017July 2017−6.9%53
February 2018April 2018−9.2%24
May 2020June 2020−6.3%16
December 2020June 2021−3.9%63
March 2022June 2022−3.0%32
November 2022July 2023−12.0%810
April 2026June 2026−3.6%22

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 Trofa

Next 12 months

Asking prices have an 80% chance of landing between €2,430/m² and €2,973/m² by September 2027.

Expected, September 2027
€2,702/m²
Chance of a rise
94%

Affordability

At the bank valuation, a 90 m² home costs €177,750. With 10% down and a 30-year mortgage, the payment is €674 a month. Banco de Portugal caps it at 50% of a household's net income.

Payment, two incomes
27%
Payment, one income
54%

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
€683
Owning per month
€619

Asking against valuation

Sellers ask 20.0% more than banks value homes at. A year ago the gap was +13.3%.

Gap today
+20.0%
Change in a year
+6.7 pp

New homes

133.6% more homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
139
Per 1,000 residents
3.3

Foreign buyers

Figures for Área Metropolitana do Porto: Trofa has no reliable figures of its own.

Over the last 12 months, buyers domiciled abroad paid 31.6% more per m² than buyers living in Portugal.

Abroad against residents
+31.6%

People and new homes

In 2025 the population grew by 197 while 59 homes were finished: 3.3 new residents for every new home.

New residents per new home, 2025
3.3
Population change, 2025
+197

Empty homes

8.4% of the 15,976 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
8.4%
Empty homes
1,338

Renovation

In 2025, 21% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.

Work on existing buildings, 2025
21%
Reconstructions per 100 new buildings
0.0

Public housing works

Public bodies signed €55.3K of housing works here in 2025, and €55.8K since 2012.

Signed in 2025
€55.3K
Per resident, 2025
€1

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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