This newsletter covers the Residential market in Portugal
Main findings:
•In 2023, nearly 140 thousand housing market transactions were recorded, -18.7% than 2022. The 2022-2023 variation of the mortgage values for housing was +7.83%. Top average €/sqm value registered in AM Lisbon S2 2023, 2,274€/sqm.
•Regarding lease agreements were recorded in 2023 nearly 190 thousand deals. Since the 2nd semester 2017, the Portuguese median rent value has a compound growth rate of 3,9%, registering in the 2st semester of 2023 7.21€/sqm/month (-0,83% since previous semester). The maximum €/sqm/month value was reached in 2023 in AM Lisbon, 11.05€/sqm/month (+0,18% since previous semester).
•The residential Gross implicit yields have been slowly compressing since 2020. Portugal 2023 average yield is at 5,63% (-32 b.p. than 2022).
•The annual labour costs continue to growth, with an average monthly variation of approximately +8%. Since March 2023, the annual variation of cost of materials start to decrease and at December 23 registered a negative growth rate of 2,2%.
Continuous stabilization of all Euribor’s rates. The 6M Euribor is the rate most linked to residential mortgages being at 3,84% (+3 b.p. June 23)
Download newsletter below
CONTACT US FOR MORE INFORMATION
We advise You making the best real estate decisions
#ATTA#Portugal#valuation#realestate#advisory#imobiliário#transações
