Housing: Prices rose 9.8% in the third quarter of 2024.
Housing prices increased by 9.8% in the third quarter of 2024, according to the INE, up 2.0 percentage points from the previous quarter.
How did housing prices fare in the third quarter of the year 2024?
The Housing Price Index (IPhab) registered a year-on-year growth of 9.8% in the third quarter, accelerating 2.0 percentage points compared to the previous quarter, announced the National Institute of Statistics (INE).
According to a statement released by INE and cited by Notícias ao Minuto, the price increase was more significant in existing homes, with a variation of 10.5%, compared to 8.1% in new homes.
Compared to the previous quarter, IPHab grew by 3.7%, slightly below the 3.9% observed in the second quarter of 2024.
The rate of change in prices of existing homes (3.8%) was higher than new homes, which was at 3.3%.
Between July and September 2024, 40,909 accommodation transactions took place, representing a 19.4% increase compared to the same period in 2023.
In the same period, the total value of transactions approached 9.1 billion euros, a 28% increase compared to the third quarter of 2023.
INE highlights that 35,462 homes (86.7% of the total) were acquired by institutional buyers from families, totaling 7.7 billion euros (85.4% of the overall value of transactions).
As for buyers with fiscal residence outside the national territory, they acquired 2,655 properties, a decrease of 3.1% compared to the same period of the previous year.
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