Housing Prices Up 12.2% in Q3 2021
February 2, 2022 – Ana Custódio
Between October 2020 and September 2021, 49 municipalities in Portugal presented an average price above the rest of the country.
According to the National Statistics Institute, the average price of homes reached €1,311/m2, a year-on-year increase of 12.2% (vs +6.8% in the previous quarter) in Portugal during the third quarter of 2021.
During this period, prices rose in 8 of the 11 municipalities with over 100,000 inhabitants in the Lisbon Metropolitan Area, with growth exceeding that at the national level (+5.4%.) in Lisbon (+11.4%) and Amadora (+6.0%).
It should be noted that Lisbon was the only municipality with more than 100,000 inhabitants to see a year-on-year drop in prices during the first quarter of 2021 (-7.9%). In the second quarter, this rate increased to +1.4% and +12.8% in the period under analysis, above the average for the country (+12.2%).
In Lisbon, average housing prices reached €3,592/m2, above the figure for the first quarter of 2020 (€3,536/m2), which was the highest since the beginning of the series. Further north, in the Metropolitan Area of Porto, only the municipalities of Santa Maria da Feira (+3.6%) and Gondomar (+0.7%) saw an increase in the year-on-year rate of change, both lower than the average for Portugal.
Read the full article in Portuguese
Translation: Richard D K Turner