Housing Prices Up 11.7% Y-o-Y in November

Housing prices in November increased by 1.3% compared to the month before.

According to Confidencial Imobiliário’s Residential Price Index for Portugal (Mainland), residential asset prices accelerated again, as house prices increased by 11.7% y-o-y in November. The analysis was based on data reported to the SIR – Sistema de Informação Residencial.

In November, the rise in housing prices once again intensified, both in year-on-year and monthly terms. Prices grew by 1.3% compared to October, the third consecutive month of accelerating growth, after a period of softening during the summer.

According to Confidencial Imobiliário, the rise reached 11.7% y-o-y in November, confirming the recovery in prices. Since April, year-on-year increases have intensified, with prices now 9.1 percentage points higher than at the beginning of the year.

In November, according to the SIR, the average sale price of homes in the country stood at €1,878/m2, reaching €2,625/m2 for new homes and €1,804 /m2 for existing homes.