Almost 43,000 homes were sold in mainland Portugal between July and September this year. According to estimates by Confidencial Imobiliário, the exact number amounts to 42,750 homes sold in the third quarter of this year, representing an increase of 3.1% compared to the previous quarter and 8.9% compared to the same period in 2024.
This sales volume brings the market back to the historic highs reached at the end of 2021, when, after the first lockdown, around 44,200 deals that had been suspended during the pandemic were completed.
After this peak, transactional activity slowed due to rising interest rates, settling at around 32,000 sales in early 2024. Since then, the market has been recovering consistently. The first quarter of this year was an exception, with sales falling 7.4% quarter-on-quarter, but remaining at high levels, close to 40,000 transactions. However, this was an isolated moment in this recovery, with the period under review being the second consecutive quarter of growth, even in a context of sharply rising prices.
It should be noted that, according to Confidencial Imobiliário, house prices in the third quarter saw their biggest increase in 40 years. Prices rose 6.9% compared to the previous quarter and 22.8% compared to the same period in 2024. Since January, prices have risen by around 2% per month, with September recording a monthly variation of 2.4%.
According to the SIR - Residential Information System, the average sale price of houses in September (accumulated over 3 months) reached €2,885 per square metre in mainland Portugal.