Porto lost ground in relative terms to Gaia and Matosinhos.
According to data from Confidencial Imobiliário’s Real Estate Pipeline, based on the energy pre-certificates issued by ADENE, Porto posted a 20% decrease in the number of dwellings in its portfolio, losing share to Gaia and Matosinhos.
A total of 225 new housing projects for 1,951 homes were submitted for municipal licensing in Porto between January and September 2021. This activity reflects a 31% drop in the number of projects and a decline of 20% in the number of dwellings compared to the same period last year, when there was a residential pipeline of 325 projects in a total of 2,444 homes.
According to the analysis, the drop in activity in Porto was felt both in the renovation of existing structures, where the number of homes in the pipeline fell 24% to 643 homes in a total of 138 projects, and in new builds, which fell by 18% to 1,308 homes in a total of 87 projects.
