Compared to 2020, Lisbon and Porto reported a slowdown in residential development in 2021. Dwellings submitted for licensing decreased by more than 30% in both cities.
The data was published by Confidencial Imobiliário in its Real Estate Pipeline, based on energy pre-certificates issued by ADENE. The data show that 210 new residential projects in Lisbon were submitted for licensing in 2021, including 2,520 residences. These numbers are the equivalent of a 32% drop versus the 3,700 dwellings in the year before. The number of projects fell by 47% y-o-y after around 400 projects were submitted in 2020.
Further north, in Porto, the residential pipeline for 2021 reached approximately 255 residential projects for a total of 2,150 dwellings. The figures are equal to decreases of 46% and 36% y-o-y, respectively. In Porto, a total of 480 residential projects, including 3,350 homes, were submitted for licensing in 2020.
Activity also slowed down in the country as a whole in 2021, with 16,300 new housing projects submitted for licensing for a total of 37,500 dwellings. The year before, there were 19,955 housing projects for a total of 46,340 homes, resulting in a decrease of around 19%, both in the number of projects and residences.