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House price increases are slowing down in Portugal

  • June 26, 2023
  • 26
In the first three months of 2023, residential real estate in the country has risen in price by 8.7% compared to the first quarter of 2022.

What has happened? Data released by the National Institute of Statistics (INE) shows that while house prices in Portugal rose by 8.7% year on year in the first quarter of 2023, this figure still represents a slowdown compared to the previous quarter at the end of 2022, when there was an increase of 11.3%.

Details. The 8.7% increase seen in the first quarter of this year represents the smallest year-on-year increase in prices since the second quarter of 2021.

Further to this, the Lisbon region saw the number of sales processed hit its lowest level since 2016, aside from the dip in figures recorded during the pandemic.

Source: The Portugal News

Photo by Nick Karvounis on Unsplash

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