Since 1991, housing prices have not increased much. in 2022 Estimated 18.7%, according to data revealed by Confidencial Imobiliário. And the continuing bad news? In 2023 there are no prospects for slowing down.
What happened?
Last year it “continued the path of strong intensification in price growth observed since 2017, a year in which the rise of 12.8% more than doubled from the 5.6% recorded in 2016,” the report reveals, noting then that “the two years of 2018 And 2019 reinforced the trend, with annual gains in December of 15.4% and 15.8%, respectively.”
But during the pandemic years, “the cycle stalled, when home sales prices ended the year with more moderate growth, at 4.8%” in 2020, while in 2021 there was already growth to “12.2%, in 2022 the journey continued.”
The study indicates that the past year witnessed two steps. Until July, there was acceleration, but the scenario has since reversed.
“In the first half of the year, and more specifically until July, prices maintained an acceleration trajectory, with an average of successive monthly increases of about 2.0%,” but “the second half of 2022 witnessed a loss in intensity, with a cooling down of monthly changes, which were Less than 1.0% twice, it even entered negative territory,” it read.
Which counties are cheaper to buy a home?
Nisa, located in the Portalegre district, ranks first among Cheapest counties to buy a home In Portugal, an average of 420 euros per square metre.
According to a study by Idealista, one of the real estate markets in Portugal, the ranking of the ten cheapest municipalities has been completed by Penamacor, in Castelo Branco (431 € / m2); Joyce in Coimbra (457 euros); Fronteira, in Portalegre (471 euros); Benacova in Coimbra (472 euros); Sabugal in Guarda (492 euros); Crato, in Portalegre (501 euros); Nilas in Viseu (505 euros); Arganel, in Coimbra (509 euros) and Pinilla, also in Coimbra (510 euros).
What about the rental market?
As with buying a home, rent has been increasing lately. In 2022, house rents in Portugal 2.9% more expensive In November, according to idealists.
After all, Lisbon continued to be the capital of the region where it was more expensive to rent a home: 17.3 €/m2. Porto (13.4 €/m2) and Funchal (10.9 €/m2) took second and third places, respectively. Aveiro (10.6€/m2), Setubal (9.5€/m2), Faro (9.3€/m2), Coimbra (8.2€/m2) and Viana do Castelo (8.0€/m2).
What is the government doing?
The Prime Minister announced today that the government will introduce “soon” new legislation On the housing sector, to respond to “different needs.”
Antonio Costa explained that the new legislation would deal with the need for “more urban land so that there can be more building”, “replacing housing in the housing market that has been withdrawn from the housing market” and adopting “a set of fiscal measures that provide the right incentives”. For landlords to safely rent out more homes.”
The Prime Minister emphasized that the government is “implementing in full force the Plan for Recovery and Resilience” (PRR), highlighted the “significant commitment of municipalities” and reaffirmed the targets for building “26,000 new homes for 26,000 families living in poverty”. who cannot afford adequate housing” and to promote affordable housing for young people and middle-class families.
“We have to complete the PRR activity, and carry out these works, with other policy measures, and I am working with the Minister of Housing so that we can soon introduce a law that responds to different needs,” he said.
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