The average sales price of a home in mainland Portugal increased by 4.5% q-o-q during the second quarter of 2021, according to the most recent results of Confidencial Imobiliário’s Residential Price Index.
This quarterly appreciation accelerated considerably compared to the previous quarter when prices grew by 1.2% q-o-q. Quarterly variations throughout 2020 remained below 3.4% and even fell by 2.1% during the third quarter.
Housing prices during the second quarter of 2021 rose by 4.8% y-o-y on the other hand, signalling a quarterly recovery in growth. During the first three months of the year, prices rose by 2.6% y-o-y.
According to the data, the price of residential properties increased by 1.1% m-o-m in June, moderating in comparison to the rise of 2.5% reported in May.
The average sales price of a home in Portugal reached €1,753/m2 during the second quarter of 2021. According to the SIR – Sistema de Informação Residencial (Residential Information System), the average time to sell a home reached six months.
The Confidencial Imobiliário Residential Price Index monitors changes in the housing prices based on sales data reported to the SIR-Residential Information System since 2007.
