House prices shoot up 17.7% in June

House prices in Portugal shot up by 17.7% in June – a sharp increase not seen since the end of 2022.

According to figures published by Confidencial Imobiliário in its Residential Price Index, June’s increase reflects the overall increase in property prices seen throughout the year added to an increase of 11% at the end of 2024 like-for-like.

In June prices rose by 1.8% on May, resuming month-on-month increases at around 2%, although May was an exception with a slight monthly variation of just 0.2%.

In quarterly terms, prices rose 3.4% in 2Q of this year. The average price of a home for sale in this period was €2,778/m2 for new homes and €2,559/m2 for used homes.