Demand outstripping property supply
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Loading... - Augusta Barbosa
- 26 Apr 2023
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House prices in Portugal continue to rise as fewer properties come on to the market.
According to a report by Confidencial Imobiliário, 35,500 homes were sold in the first quarter of 2023, 3% less compared to the previous three months, when 36,600 real estate transactions took place.
Confidencial Imobiliário mentions that the rise in prices was already expected in the context of loss of sales dynamics and explains this as being partly due to a rise in construction costs, which in 2022 rose by 23%.
The value of houses sold in Portugal in the first three months of the year stood at an average of 2,114 euros per square metre, divided between 2,864 euros per m2 in the case of new builds and 2,040 euros/m2 in used houses. Read More…
