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Housing prices rose 13.2% at a National level in the second quarter and hit record levels!!!


For those who say that the Portuguese do not buy real estate.... 93.6% purchases by nationals and 6.4% by foreigners!!!...

In the referenced quarter, non-resident investors were responsible for 6.4% of the total number of transactions (2,783 dwellings), corresponding to 11.9% of the total value transacted. In this data, the European Union category corresponded to 3.6% and the remaining countries to 2.8%.

In the second quarter of 2022, the Housing Price Index (IPHab) increased by 13.2% year-on-year, and 0.3 percentage points (p.p.) above the previous quarter. The increase in prices was more expressive in existing housing (14.7%) than in new housing (8.4%).

Compared to the first three months of the year, the IPHab increased by 3.1% (3.8% in the 1st quarter of 2022). Here too, the rate of change in the index for existing dwellings (3.9%) exceeded that recorded for new dwellings (0.6%).

Between April and June 2022, 43,607 homes were sold for a total value of 8.3 billion euros, which represents an increase, compared to the same period of the previous year, of 4.5% and 19.5%, respectively. By category, existing housing transactions reached 35,742 units, corresponding to a year-on-year increase of 1.8%. In new housing, the rate of change was higher, 18.9%, totaling 7,865 transactions.

In total, in the period under analysis, 38,181 homes (87.6% of the total) were acquired by families, representing 7.2 billion euros.

In the referenced quarter, non-resident investors were responsible for 6.4% of the total number of transactions (2,783 dwellings, representing an increase of 2.0% over the previous quarter), corresponding to 11.9% of the total value transacted. In this search, the European Union category corresponded to 3.6% and the remaining countries to 2.8%.

The value of the properties transacted stood at 8.3 billion euros, 19.5% more than in the same quarter of 2021. Of the total value transacted, 6.3 billion euros corresponded to transactions of existing housing (16.8% increase compared to the same period in 2021) and 2.0 billion euros were related to new housing transactions (29.0% year-on-year increase).

Thus, the value of these transactions increased by 2.5% in the second quarter of 2022 compared to the immediately previous quarter. In this period, the growth observed in the value of transactions of existing dwellings surpassed that of new dwellings, by 3.0% and 1.2%, respectively.

In geographic terms, 13,336 dwellings were traded in the Lisbon Metropolitan Area and 11,967 in the Northern Region. These two regions, as a whole, represented 58.0% of total transactions, which constituted the lowest percentage of the series available.

In the referenced quarter, the value of homes traded in the Lisbon Metropolitan Area stood at 3.5 billion euros (42.0% of the total), while property sales in the Northern Region totaled 1.9 billion euros (22.3%). Both regions recorded reductions of more than 1 percentage points in the respective regional quotas.

Source: INE (Institute for National Statistics)



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