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Housing Prices in Portugal Increase by 16.4% in May
10 September 2018
The sales prices of homes in mainland Portugal increased once again in May, both month-on-month and year-on-year, Confidencial Imobiliário revealed in its Residential Price Index. The index is calculated based on data on finalised transactions registered with the SIR – Residential Information System.
In May, the price of housing increased by 16.4% compared to the same month in 2017 as the pace of the price increases continued its acceleration seen since the end of 2015 (and only interrupted at the end of 2016).
After ending 2017 growing by 12.8%, the year-on-year rise in house prices has intensified sharply this year, with prices in May up 6% from the level registered in December.
In monthly terms, the rise in house prices in May stood at 0.9%, slowing down from 2.0% in April. Nevertheless, since July 2016, the Residential Price Index has recorded uninterrupted monthly increases, the highest of which (+2.4%) came in June of last year.
Original Story: Diário Imobiliário
Translation: Richard Turner