Housing Prices Up 10.3% in the First Quarter of 2020

29 June 2020 According to the latest Housing Price Index, which is compiled by Portugal’s National Statistics Agency (INE), housing prices in the country as a whole rose by 10.3% year-on-year in the first quarter of 2020. The index shows that the average price of already existing homes rose faster than that of new dwellings, rising by 10.6% and 8.9% y-o-y, respectively.

More than 43,500 (+0.7%) homes, totalling €6.8 billion (+10.4%), were bought and sold in the first three months of the year. Of the total, €5.4 billion corresponded to the same of existing homes, while the remainder were for newly built homes.

In March, however, the number of transactions and their total value fell by 14.1% and 3.3%, respectively, in comparison with the same month last year.

Original Story: Vida Imobiliária – Ana Tavares

Translation/Summary: Richard D. Turner