The increase in 2021 reversed the ongoing price deceleration of the last four years.
The data resulted from Confidencial Imobiliário’s Residential Price Index. According to the SIR-Sistema de Informação Residencial, the sale prices of homes ended the year having risen by 11.7% in Lisbon and 10.3% in Porto.
Prices had not risen so much in Lisbon since the end of 2018 when the annual variation reached 16.0%. The increase recorded in the year under review reverses the deceleration trend of the last four years, culminating in a yearly rise of only 3.0% in 2020. In 2021, the first quarter continued the trend, with the lastest lockdown lowering the quarterly change in prices to -0.3%. The market recovered from that period onwards, reaching a quarterly rise of 4.1% in the last three months of 2021.
In 2021, the average sales price of a home in Lisbon was €3,973/m2, a record high for the market. Sales also grew significantly, with transactions projected to reach around 15,750 dwellings in Lisbon in 2021. This figure is more than 20% above the level in 2020 and is a high for the last decade. The last time that kind of increase was recorded was during the pre-financial crisis period, between 2007 and 2008.
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