House prices rose 19% in 2022, which means the biggest increase in 30 years, according to the Confidencial Imobiliário Residential Price Index.
“The sale prices of houses in Portugal (Mainland) rose 18.7% in 2022, the highest annual appreciation of the last 30 years, according to the Residential Price Index of Confidencial Imobiliário”.
“It is necessary to go back to 1991 to find a year-on-year rate of change at the end of the year higher than that recorded in the last month of December”.
“In 1991 there was an increase in prices of 18.8%, a mark that until now had been approximated only by the valuations observed in the two years prior to the pandemic, both situated at the level of 15.0%”.
2022 thus “continued the trajectory of strong intensification in price growth observed since 2017, the year in which the 12.8% appreciation more than doubled the 5.6% recorded in 2016. The years 2018 and 2019 consolidated the trend, with year-on-year increases in December of 15.4% and 15.8%, respectively”.
“This cycle was only interrupted in 2020, when house sales prices ended the year with a more moderate growth of 4.8%, reflecting the pandemic and registering a year-on-year increase of 12.2%, a path which has continued”, says Confidencial Imobiliário.
Republished by : ITUGAL