17
17

Lisbon Home Prices Up 4.9%

July 23, 2021 – Ana Custódio

Home prices increased by 4.9% y-o-y in Lisbon during the second quarter of this year. The figures were published today in Confidencial Imobiliário’s Residential Price Index for Lisbon and Porto.

According to the SIR – Sistema de Informação Residencial data, the increase follows a drop of 0.3% first three months of the year. It also puts the capital once again in line with the trend in the rest of the Lisbon Metropolitan Area.

The average quarterly increase in prices reached 5.6% in the period for the region as a whole, versus 1.5% in the first quarter. According to the analysis, prices accelerated across the Lisbon Metropolitan Area, without exception.

The Confidencial Imobiliário Residential Price Index tracks changes in effective sale prices based on transactions reported to the SIR – Sistema de Informação Residencial. In addition to the national index, there are also indexes available at the county level.

Porto also saw increasingly rising prices while remaining the least valued market in that Metropolitan Area, with a quarterly increase of 1.8% in the second quarter. The increase was just 0.6% in the previous quarter.  The second quarter also brought accelerating prices throughout the region. The rises, however, were less marked than in the Metropolitan Area of Lisbon. Thus, from an average valuation of 1.8% for the region in the first quarter of 2021, there was an increase to 4.2% in the second quarter.

According to SIR (Residential Information System), the average sale price of residential property in the second quarter rose to €3,833/m2 in Lisbon and €2,506/m2 in Porto.

Translation: Richard D K Turner