House prices up 48% in 4 years in portugal

                House prices up 48% 4 years in portugal

                              Credits: Supplied Image; Author: Pixabay;

In Greater Lisbon, the prices of houses sold rose 57% in four years. And in Greater Porto 61%, according to data from INE.

National Statistics Institute (INE) data shows that the median price of houses sold reached 1,629 euros per square meter (euros/m2) in the second quarter of 2023. This is a value 48% higher than that recorded four years earlier.

In several regions of the country, this increase in the price of houses sold since 2019 until today is even more significant, according to a report by idealista.

Lisbon Metropolitan Area: Here the median price stood at 2,306 euros/m2 in the second quarter, 57% more than four years earlier. In the municipality of Lisbon, this increase was less significant (+30%), with price pressure moving to several peripheral municipalities, where housing prices soared during this period, such as Moita (+99%), Barreiro (+77%), Seixal (+74%) and Setúbal (73%);

Porto Metropolitan Area: In this urban center prices have risen 61% since 2019, reaching 1,802 euros/m2. The municipality of Porto also saw house prices rise by around 50%, but there were others that increased even more, such as Espinho (+83%), Matosinhos (+69%), Gondomar (+63%), Santo Tirso (+56%) and Maia (+56%);

Algarve: Prices in the Algarve region rose 51% in four years, reaching 2,583 euros/m2 in the second quarter of 2023. The municipality of Vila do Bispo saw prices more than double in four years (+143%). And, in several municipalities, the houses were sold for much higher prices than in the past, such as Portimão (+65%), São Brás de Alportel (+65%) or Vila Real de Santo António (+62%);

Autonomous Region of Madeira: Homes sold between April and June 2023 were 58% more expensive than in the same period in 2019, with the median price being set at 1,916 euros/m2. In Funchal, the increase was 66%.

 

SEF replacement details to be announced “this week”

The Minister of the Presidency, Mariana Vieira da Silva, has stated that the statutes of the new Agency for Integration, Migrations and Asylum (AIMA) will be published before the deadline, later this week.

This timeline was shared by Mariana Vieira da Silva at a press conference, at the end of the Council of Ministers, following a hearing proposed by the PSD in which it is alleged that, just a few days before this agency takes office, there are still “no statutes or headquarters”.

The PSD considers that there is “great confusion surrounding the process of abolishing the Foreigners and Borders Service” (SEF), highlighting that AIMA “works in a very sensitive area”.

For the PS, deputy Susana Amador defended that this is a “very complex and comprehensive reform” that cannot be resolved “from one day to the next” and indicated that minister Ana Catarina Mendes has already said that “in the next few days the statutes and the headquarters will be announced”.

The vice president of the PS Parliamentary Group refused to “create any type of panic, alarm or say that it is confusing” and asked for “calm and serenity”.

On Monday, the Deputy Minister of Parliamentary Affairs, Ana Catarina Mendes, who is in charge of this area, stated that the statutes of the new Agency for Integration, Migrations and Asylum will be published “in the next few days” and that the location of the headquarters has been decided and will be announced soon.

“I can reassure you that everything will be ready and, in the next few days, we will obviously have published the statutes and things will be working, with the certainty that there is a lot of work to continue doing, and we will be here to do it, with serenity”, emphasized the minister responsible for AIMA, following the end of the Foreigners and Borders Service (SEF).

 

 The portugal news