House sales up 20% in 2021, new maximum
Last year, "165,682 homes were sold, which is a new maximum in the available series and a 20.5% growth compared to 2020," the INE reported.
The number of homes sold reached a new high in 2021, at 165,682, an increase of 20.5% compared to 2020, according to construction and housing statistics, released on Friday by Statistics Portugal (INE).
Last year, “165,682 homes were sold, which is a new maximum in the available series and a 20.5% growth compared to 2020,” the INE reported.
The value of homes bought and sold in 2021 amounted to €28.1 billion, 31.1% more than in 2020, while the average price of family homes transacted was €1,297 per square metre, which corresponds to an increase of 9% compared to the previous year.
The average house price remained above the national value in the sub-regions of the Algarve (€2,000/m2), the Metropolitan Area of Lisbon (€1,813/m2), Madeira (€1,436/m2) and the Metropolitan Area of Porto (€1,370/m2).
The average rent for new family accommodation in Portugal was €6.04/m2, which corresponds to an increase of 7.7% compared to 2020 (+5.5% in the previous year).
There was also a 9.4% increase in the number of new contracts signed.
Construction also recorded significant growth in 2021, a period in which 25,409 buildings were licensed, an increase of 8.2% compared to 2020 (-3.7% in 2020) and 4.3% compared to 2019.
Last year, 36,731 homes were licensed in the country, corresponding to an increase of 8.7% compared to the previous year (33,806 dwellings in 2020, -3.9%).
INE estimates that in 2021, 15,262 buildings were completed, corresponding to an increase of 3.6%, compared to the previous year (+7.8% in 2020; 14,732 buildings) and 22,384 homes, representing an increase of 10.2% (+27.6% in 2020, corresponding to 20,320 homes).