Property prices stabilise – The Portugal News

In January, the sale prices of houses in mainland Portugal registered a variation of 0.9% compared to December 2023, continuing the cycle of smooth monthly appreciations that predominated in the second half last year.

The data was collected by Confidencial Imobiliário within the scope of the Residential Price Index, which monitors the evolution of housing transaction prices on the mainland.

In year-on-year terms, prices showed a growth of 12.1% in January, keeping appreciation levels in this time horizon stable at around 12.0%. Remember that in December 2023, the year-on-year rate of change was 11.8%, crowning a year marked by a slowdown in the rate of increase in housing prices. As a result of this cooling, the year-on-year appreciation recorded in the last month of 2023 was 6.9 percentage points below that observed at the end of 2022 (18.7%).

According to data from the SIR-Residential Information System, houses were transacted in mainland Portugal for an average price of €2,396/m2 in January 2024, considering an accumulated period of three months. New homes reached an average value of €3,656/m2 in transactions carried out during this period, while used homes had a value of €2,243/m2.