Portugal’s dire ‘housing crisis’ – the situation where many nationals are relentlessly being priced out of the market – continues into the New Year with very little on the horizon to bring any confidence that the situation is likely to change in the short or even medium term.
INE (national statistics institute) has just reported yet another hike in house prices for the three month period between July and September this year.
According to data, the price of existing housing stock increased 19.1%, while the price of new housing stock also increased, by slightly less (14.1%).
The new information suggests the government’s masterplan for dealing with the housing crisis is taking its time to kick-in.
Taken as a whole, housing transactions involved €10.5 billion in this three month period.
“Compared to the previous three months, the Housing Price Index (IPHab) rose by 4.1%, compared to 4.7% in the previous quarter, with existing homes rising by 4.5% and new homes rising by 2.9%,” writes SIC.
Source: SIC Notícias
