HOUSING SALES IN PORTUGAL INCREASES 57% BETWEEN BOTH LOCKDOWNS
In the 1st quarter of 2021, a period which coincides with country’s second general lockdown, approximately 49,600 houses were sold in mainland Portugal. This volume of transactions is 57% above the 31,600 units sold during the first lockdown, that corresponds to the 2nd quarter of 2020.
The activity also shows a positive evolution in the last quarter of 2020, registering an increase of 5% in relation to the 47.2 thousand units sold in that period.
This performance was transversal to all regions, accelerating quarterly increases of 6% in sales of homes in the Metropolitan Areas of Lisbon and Porto, as well as in the Algarve. Compared to the previous lockdown period, sales increased by 47% at Lisbon Metropolitan Area, 46% at Porto Metropolitan Area and 76% in the Algarve. In the 1st quarter of 2021, it is estimated that around 17,150 homes were traded in the Lisbon Metropolitan Area, 8,120 in the Porto Metropolitan Area and 3,900 in the Algarve.
The data reflects the predictions carried out by Confidencial Imobiliário based on the information reported by real estate agents to the SIR Residential Information System.
In the case of Lisbon and Porto, in both, the quarterly increase in sales was 6% and or increased across borders by 47%. Lisbon registered 3,820 sold properties in the 1st quarter of the year and Porto sold 2,250 units.
The average selling price of homes in Portugal in the first quarter of 2021 amounted to € 1,715 / m2, reaching 2,232 euros / m2 in the Lisbon Metropolitan Area, 1,601 € / m2 in Oporto Metropolitan Area and 1,836 € / m2 in the Algarve. In Lisbon, sales will reach an average price of € 3,656 / m2 and in Porto of € 2,318 / m2.