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Porto and Lisbon: Property hits new highs

22 NOVEMBER 2021
Topics
Mercado Imobiliário Destaque Notícia Homepage Lisboa Porto Preço das Casas
Real Estate Market continues to grow in volume and price per m2.
Porto and Lisbon: Property hits new highs
Compared to 2020, the real estate market recorded a sharp growth in the third quarter of this year, with the average price per square meter increasing by about 10% in Lisbon and Porto, and real estate sales growing 21% in Lisbon, and 17% in Porto, according to data from the virtual real estate company, Imovendo, in a communication sent.

More than half of this growth refers to new construction, with more than 2,500 homes sold in the two cities, between July and September, although the increase in prices of construction materials and fuel is not yet reflected.

"The market is growing and continues to show signs of appreciation, not only in sales volume, but also in the average price per m2.  The upward trend in prices will continue, as a result of the generalized increase in construction materials and fuel." Notes Nélio Leão, Imovendo's CEO, "on the other hand, people use houses more intensively, and make the decision to make this investment, which increases demand" he concludes.

As for the rental market, although in Lisbon there was a 20% growth in the period under review, Porto registered a shy 5% increase in turnover.

"The strategy that banks have adopted regarding the concession of bank credit, with low interest rates, ends up compensating the increase in price per square meter", adds Nélio Leão.

The price of the square meter in both Lisbon and Porto had a 10% increase when compared to the previous year, this is expected to continue, which may boost the rental market.

See also some properties from Imovendo:

Topics
Mercado Imobiliário Destaque Notícia Homepage Lisboa Porto Preço das Casas
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