In relation to house prices, this value represents a drop of 4.4 percentage points compared to the previous year. In 2023, 136,499 homes were transacted, which meant a total of 28 million euros (-11.9%).
House prices increased by 8.2% in 2023, which meant a drop of 4.4 percentage points (pp) compared to 2022. The number of transactions fell by 18.7%, according to data revealed by the National Statistics Institute (INE) this Friday, March 22nd.
In relation to house prices, the existing housing categories showed an increase of 8.7%, compared to new houses (6.6%).
Last year, 136,499 homes were transacted (lowest value in 2017), which meant a total of 28 million euros (-11.9%).
New housing transactions stood at 28,119 units, 20.6% of the total, representing the highest relative weight since 2015. The reduction in the number of transactions was more pronounced in the case of existing housing (-21.4% ) compared to new homes (-6.1%).
The value of existing accommodation transactions fell 16.5% compared to 2022, to 20.1 billion euros. With regard to new homes, there was an increase of 2.6% in the value of transactions, reaching 7.9 billion euros.
By regions, 39,715 homes were transacted in the North region, 29.1% of the total, 0.9 pp more compared to 2022. The Center, West and Vale do Tejo and Alentejo, were the other regions that registered an increase, compared to to 2022, in the respective shares relating, respectively, 1.2 pp, 0.1 pp and 0.1 pp
In Greater Lisbon and the Setúbal Peninsula, 25,854 and 12,738 houses were transacted, respectively. In both cases, there were reductions in their respective relative weights, from 0.9 pp to a total of 18.9%, in Greater Lisbon and 0.8 pp in the Setúbal Peninsula, standing at 9.3% .
Greater Lisbon totaled 9.1 billion euros, concentrating 32.3% of the value of house transactions transacted in 2023. In the North it amounted to 6.6 billion euros, while in the Center it reached 2.5 billion euros. euros, representing 23.7% and 8.9% of the total value, in the same order.
The West and Tagus Valley, with an amount of 1.7 billion euros (6.2% of the total) and the Autonomous Region of Madeira with sales of 748 million euros (2.7% of the total), in the Algarve it stood at 3.6 billion euros, 12.9% of the total, 0.6 pp less compared to 2022.
In the Setúbal Peninsula, the value of 2.6 billion euros translated into a year-on-year reduction in the regional share of 0.6 pp, to a percentage of 9.1%.
Alentejo, with a total value of 798 million euros, showed a decrease of 0.2 pp in its relative share, totaling 2.8%. In the Autonomous Region of the Azores, housing transactions amounted to 351 million euros, which represents 1.3% of the total, the same percentage as the previous year.
