Housing Sales in Portugal up 57% Between Lockdowns

The average sales price of residential property in Portugal in the first quarter of 2021 reached €1,715/m2.

Approximately 49,600 homes were sold in mainland Portugal in the first three months of 2021, according to projections made by Confidencial Imobiliário, based on information reported by real estate agents to the SIR (Sistema de Informação Residencial).

In this period, which coincides with the second general lockdown, the volume of transactions was 57% above the approximately 31,600 homes sold during the first confinement in the second quarter of 2020. Volume was also up compared to the last quarter of 2020, increasing by 5% compared to the 47,200 homes sold during that period.

The data show across the board increases in every region of Portugal, with q-o-q growth of 6% in the Metropolitan Areas of Lisbon and Porto and the Algarve. Compared to the previous confinement period, sales increased by 47% in the Lisbon Metropolitan Area by 46% in the Porto Metropolitan Area and 76% in the Algarve. In the first quarter of 2021, an estimated 17,150 homes will have been sold in the Lisbon Metropolitan Area, versus 8,120 in Porto and 3,900 in the Algarve.

In the first quarter of 2021, the average sales price of houses in Portugal rose to €1,715/m2, reaching €2,232/m2 in the Lisbon Metropolitan Area, €1,601/m2 in the Porto Metropolitan Area and €1,836/m2 in the Algarve. In the Portuguese capital, sales reached an average price of €3,656/m2 and €2,318/m2 in Porto.