The sale price of houses in mainland Portugal remains stable, with a monthly variation of -0.2% in July, with house prices registering residual variations in the chain from a maximum of 0 since the beginning of the pandemic. , 9% and a minimum of -0.2%.
The data are calculated by Confidencial Imobiliário (CI) within the scope of the Residential Price Index (IPR), which tracks the evolution of housing transaction prices based on data reported to the SIR – Residential Information System.
The latest negative monthly variations in the IPR, also around -0.2%, were observed in December 2018 and January 2019, an isolated moment in a period then of strong acceleration in appreciation.
“Although prices registered a negative chain variation, it is very residual and is not unprecedented even in the cycle of strong market appreciation that we saw in early 2019. In general, prices remain globally stable for now and do not a drastic and abrupt correction is anticipated ”, comments Ricardo Guimarães, general director of Confidencial Imobiliário.
Year-on-year, house prices rose 12.2% in July. Such appreciation is more than 5 percentage points below the variations of around 17% observed in January and February, confirming the loss of pace in the year-on-year increases.