66
66

Existing Housing Costs More Than New Homes in Lisbon’s Carnide and Lumiar

15 May 2019 – Richard D. K. Turner

Housing prices in Portugal are increasing seemingly without end. In the fourth quarter of last year, prices rose by an average of 6.9% y-o-y. In general, new housing fetches higher prices than existing housing, though the parishes of Carnide and Lumiar in Lisbon are two notable exceptions.  According to data from the National Statistical Institute (INE), the price of new housing per square meter in the two parishes reached 2,719 and 2,358 euros, respectively. Existing housing currently costs 3,055 euros in Carnide and 2,743 euros in Lumiar.

The average price of residential real estate in the city as a whole for new homes is 3,996 euros/m2, much more expensive than the cost of existing homes (2,904 euros). The two parishes are the only two in Lisbon that registered higher prices for existing housing.

Original Story: Idealista