According to AICCOPN’s (Association of Civil Construction and Public Works Industries) Statistical Synthesis of Housing, the figure is equivalent to a growth of 3.7% y-o-y. Bank valuations conducted during the mortgage application process rose by 5.7% to a new high of 1,174 euros/m2.
New licenses for residential construction or refurbishment, issued by Portugal’s Municipal Councils, fell by 6.1% year-on-year during the first two months of 2021. New builds fell by 2.8%, and renovations dropped by 17.9%.
The analysis also revealed that new licences issued for constructing dwellings in new buildings fell by 20.1% y-o-y, to a total of 3,733.
At the same time, cement consumption in the national market remained practically unchanged compared to the same period last year, falling by 0.2% in the first two months of the year.
AICCOPN highlighted the North Region, where the number of licensed dwellings in new builds totalled 10,962 in the twelve months ending February 2021, a 6.7% increase compared to the 10,272 dwellings approved in the previous twelve months. Of these, 53.9% were three-bedroom homes, and 22.1% were two-bedroom dwellings. Bank valuations in the region rose by 6.4% in February to 1,024 euros per square metre.