In 2020, the House Price Index (HPI) increased 8.4% when compared with the previous year. This rate of change was 1.2 percentage points (pp) lower than in 2019. From 2019 to 2020, the prices of existing dwellings (8.7%) increased at a higher rate than new dwellings (7.4%).
In the 4th quarter of 2020, the HPI year-on-year rate of change was 8.6%, 1.5 pp more when compared to the previous quarter. In this period, price increases were less intense for existing dwellings than for new dwellings, 8.5% and 9.0%, respectively.
In 2020, a total of 171,800 dwellings were transacted, 5.3% less than in 2019. The total amount of transactions reached 26.2 billion euros, an increase of 2.4% compared to the previous year. The value of new dwelling transactions increased by 9.3% to €5.4 billion and that of existing dwellings rose by 0.7% to €20.8 billion euros.
Between October and December 2020, the number of transacted dwellings stood at 49,734, resulting in a year-on-year rate of change of 1.0% and an increase of 10.2% when compared with the previous quarter. In this period, the value of house sales totalled 7.5 billion euros, up by 8.7% compared to the same period in 2019.
Despite the circumstances determined by the pandemic COVID-19, Statistics Portugal calls for the best collaboration by companies, families and public entities in responding to Statistics Portugal’s data requests. The quality of official statistics, particularly its ability to identify the impacts of the pandemic COVID-19, crucially depends on this collaboration, which Statistics Portugal thanks in advance.