In March 2015, property prices in Portugal increased slightly – by 1.81% y-o-y (or 1.5% adjusted for inflation), and an average worth was €1,011 per sq.m (similar figures were in previous years). According to the Institute of Statistics of Portugal, prices began to raise after three years decline in the economy and on the housing market.
The Lisbon region has grown in prices by 4.32% (by 4% adjusted for inflation) to €1,231 per sq.m, and Porto region – by 2.59% (2.27%) to €951. The highest national rates were recorded in Vila Nova de Gaia (+7.67%), Setubal (+7.51%), Vila Nova de Famalicão (+7.06%), Sintra (+5.03%), and others.
Reducing prices were in Oeiras (-4.59%), Coimbra (-3.95%), Cascais (-3.61%), Leiria (-3.35%) and Funchal (-3%).
Furthermore, the volume of primary property in Portugal decreased by 54% for the year, dropping to the level of 9,429 objects.
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