House Prices Up 15% in Portugal
The sale price of houses in mainland Portugal increased by 15.6% in September, according to the Confidencial Imobiliário Residential Price Index.
In monthly terms, the rise was 1.3%, according to the publication that tracks the change in transaction prices in the residential market. The September figures confirm that prices in the housing market continue to accelerate, with year-on-year increases having risen by more than 10% every month since July 2017.
“This year, valuations were always higher than 13.5%, reaching a maximum of 16.4% in May and remaining at around 15% since then,” the report said.
The cycle of housing price recovery began five years ago in the last quarter of 2013, but for about two years, year-on-year increases remained below 3%.
Only in 2016 did the recovery began to accelerate, with prices rising by 3.5% to 9% by the middle of last year and significantly increasing the pace of growth since then, with year-on-year variations always in double-digits. This cycle of successive increases has led to prices being 10.6% above the pre-crisis period (2007) and having recovered 41.4% from their lowest level (seen in June 2013).
Confidencial Imobiliário is a company specialized in the production and dissemination of market analysis indicators, with indices and databases on demand and sales in the residential market, detailing each parish.
Source: Confidencial Imobiliário, The Portugal News
