The purchase and sale of accommodation in Portugal amounted to 167,900 units in 2022, the highest level since records began in 2009.
According to the National Institute of Statistics (INE), this rise represents an increase of 1.3% compared to 2021, which corresponds to more than 2,218 accommodations transacted.
Data released by INE confirm that the value of housing transactions last year soared by 13.1% year-on-year, to a total of €31.8 billion (+13.1% year-on-year). The growth registered in terms of prices was higher in the case of new housing (18.2%) than in existing ones (11.6%), although the latter accounts for three-quarters of the total amount of transactions.
Although the number of transactions has increased, official data shows a decrease of 2.7% in bank assessments carried out by experts at the service of banking institutions in the context of granting housing loans. Close to 120,000 were carried out last year, which represents a reduction of three percentage points in the relative weight compared to the purchase and sale of family accommodation, settling at 71.4%.
With regard to the licensing of buildings in Portugal, which totalled 24,696 last year, INE points out a decrease of 4.4% compared to the previous year, in which they had grown by almost 10%. 37,458 dwellings were licensed, -0.5% year-on-year. The number of buildings and dwellings deemed completed also dropped by 3.5% and 0.1%, respectively.
What is also falling is the number of buildings licensed for rehabilitation works, which stood at 4,491 processes last year. This indicator sank 9.3% compared to the previous year and 17.4% compared to 2019, the year before the Covid-19 pandemic, thus lowering the rehabilitation threshold of 20% in total works licensed in Portugal.
Source: ThePortugalNews