According to Portugal’s National Statistics Institute (INE), its Commercial Property Price Index (IPPCom) increased by 1.7%, 0.2 percentage points less than in 2019.
The index has posted price increases every year since 2014, though 2020 saw the least expressive growth.
The increase in commercial property prices in 2020 was lower than residential properties (8.4%), as seen in previous years, the National Statistics Institute announced.
According to the report, the IPPCom posted an annual increase of 1.7% in 2020. For the second consecutive year, there was a reduction in the rate of growth of commercial property prices. Prices rose by 4.9%, 1.9% and 1.7%, respectively, in 2018, 2019 and 2020.
The housing market saw higher growth than that of the commercial property market, according to the INE’s Housing Price Index (IPHab). Residential housing prices have increased at a faster rate since 2016.
Last year, IPHab rose by 8.4%, 6.7 percentage points above that of the IPPCom. The INE concluded that compared to 2019, there was a 1.0 percentage point reduction in the difference between the growth rates of the two indicators.
The main objective of the IPPCom is to measure changes in commercial property prices in Portugal.
