Housing Sales Prices Up By 2.6% in the Last 12 Months

10 March 2021 – Ana Custódio

According to a report by Confidencial Imobiliário (CI), the average sales price of housing on mainland Portugal grew 2.6% in the twelve months to February 2021.

The data stems from CI’s Residential Price Index, which tracks changes in housing transaction prices. The modest increase compares poorly to last year’s growth of 17.6%. The cooling in prices is likely to have been brought on by the coronavirus and its associated lockdowns and the relentless increase in prices during the previous few years.

According to Confidencial Imobiliário, month-on-month variations in prices have stabilised of late, with monthly increases never exceeding 1.0% and only two months with negative growth. Last month continued the trend, with a monthly variation of 0.3% m-o-m.

Translation: Richard Turner