By becoming our subscriber, you get free access to all Observer articles.
You housing prices in the Lisbon region have risen again in the second quarter, after falling earlier this year, the National Institute of Statistics (INE) confirms in a quarterly report released this Thursday. However, prices in the capital rose less than the national average. On the other hand, when analyzing price dynamics over the past 12 months in St. Port prices rose 17.8%.
The INE report indicates that the region, which includes the country’s capital, has recovered from the negative fluctuations in house prices that took place in the first quarter, although it recorded year-on-year growth (+ 1.4%) below national (+ 6.8%). This 6.8% increase on the national average reflects an acceleration from the first quarter, marked by the peak of the pandemic – in the previous quarter, the year-on-year growth rate was less than half, 3.1%.
According to INE, the average price for family living in Portugal was € 1268 per square meter – in Lisbon, almost three times: 3 497 euros per square meter.
Source: National Institute of Statistics.
“In the 2nd quarter of 2021, among 24 municipalities with a population of over 100 thousand people, all municipalities in the metropolitan areas of Lisbon and Porto, with the exception of Gondomar and Santa Maria da Feira, recorded average housing prices higher than national prices (1,268 euros / m2, including Lisbon (3497 euros / m2), Cascais (3040 euros / m2), Oeiras (2519 euros / m2), Porto (2189 euros / m2) and Odivelas (2137 euros / m2), ”reports INE.
A PUB • CONTINUE READING BELOW
If you look not at the year-on-year change, but at how the median price has changed over the past 12 months, “the city of Porto, as in the previous quarter, showed the highest growth compared to the same period last year (+ 17.8% against. + 7.1% in Portugal) “.
This is a report that INE prepares based on fiscal data related to transactions in the main cities of the country (over 100 thousand inhabitants). INE then divides the country into sub-regions, where it states that it is in the Algarve that the price per square meter is more expensive – 1,875 euros.
Only after that comes the Lisbon metropolitan area with an average of 1,757 euros per square meter, the autonomous region of Madeira with 1,460 euros per square meter and the Porto metropolitan area with 1,333 euros per square meter. Prices in AM do Porto and Madeira, as well as Alentejo Litoral, rose more than 11% year-on-year, while AM Lisboa and Algarve rose 9.7% and Algarve rose 3.8%.
