House prices continue to skyrocket, up 9.9% in Q3
According to Portugal Statistics (INE), during this period, the prices of existing homes increased at a faster rate than new homes, 9.9% and 9.5%, respectively.
The Housing Price Index (HPI) rose 9.9% in the third quarter year-on-year, up 3.3 percentage points over the previous quarter, according to data released Thursday.
According to Portugal Statistics (INE), during this period, the prices of existing homes increased at a faster rate than new homes, 9.9% and 9.5%, respectively.
Compared to the previous quarter, the HPI increased by 3.6% (2.2% in the second quarter of 2021), with the price increase being more intense in existing housing (3.9%) than in new housing (2.5%).
Between July and September 2021, 56,464 homes were sold, 25.1% more than in the same period of the previous year.
According to INE “similar rates of change were recorded” in July (26.8%), August (24.5%) and September (23.9%).
In value terms, in the quarter under review, dwellings transacted accounted for approximately 9.4 billion euros, which represents an increase of 38.7% year-on-year.
