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Housing Prices 1.8% Higher than Before the Pandemic

19 January 2021

According to Confidencial Imobiliário’s Residential Price Index, housing sales prices on mainland Portugal rose by 1.8% in December, compared to the beginning of the pandemic in February. Compared to the same month in 2019, the increase reached 4.8%.

Additionally, December posted the most significant monthly change during the pandemic, 1% compared with November.

Housing sales prices are showing signs of stabilising. Price changes had varied between -0.2% and 0.9% since March when the effects of Covid-19 began to be felt in Portugal. The figures reflect the housing sector’s resilience in the face of the pandemic, though short-term trends evidence a slowdown compared to the market’s previous pace in 2019 when prices were rising by an average of 1.2% per month.

Original Story: Vida Imobiliária

Translation: Richard Turner