Home prices continue to rise and in the second quarter there was even a record increase of 13.2%, according to data from the National Statistics Institute (INE). In that period, more than 43 thousand homes were sold, of which 58% were in Porto and Lisbon.
The sale of 43,607 homes in the second quarter across the country amounted to €8.3 billion, which would give an average price of €190,000. However, this number should not be taken into account as home prices are different in all regions of the country, in especially both the Metropolitan Areas of Porto and Lisbon. A more detailed search is needed to find the average price of homes in any given Region!!!
“Average price of homes in Porto is 182 thousand euros… In Lisbon 260 thousand!!!”
In geographic terms, 13,336 homes were sold in the Lisbon Metropolitan Area and 6,469 in the Porto Metropolitan Area. These two regions, as a whole, represented 58.0% of total transactions.
In the referenced quarter, the value of homes sold in the Lisbon Metropolitan Area stood at 3.5 billion euros (42.0% of the total), while property sales in the Porto Metropolitan Area totaled 1.18 billion euros (22.3% of the total).
Source: INE (Institute for National Statistics)
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