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In the fourth quarter of 2017 (last 12 months) the median price of dwellings sales in Portugal was 932 euros per square meter, +7.6% compared to the fourth quarter of 2016 (866 euros per square meter). In this period, 39 municipalities located mainly in Algarve and in Área Metropolitana de Lisboa, scored median house price of dwellings sales above the national value.

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The annual change rate of the Construction cost index for new housing was 1.5% in February, 0.1 percentage points (p.p.) higher than in January. The price index measuring the cost of regular maintenance and repair of housing increased 1.6% in relation to the same period of the last year, 0.4 p.p. above the previous month.

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In the 4th quarter 2017, building permits declined by 2.4% in comparison with the same period of the previous year (+7.3% in the 3rd quarter 2017), corresponding to 4.3 thousand buildings. Building permits for new constructions increased by 2.0% (+15.4% in the 3rd quarter 2017) while the number of rehabilitation permits decreased by 12.4% (-5.4% in the 3rd quarter 2017). Completed buildings recorded a 19.6% increase (+23.2% in the 3rd quarter 2017) with a total of 3.4 thousand buildings.

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The index of production in construction increased by 3.0% in the quarter ending in January 2018, in year-on-year terms (3 months moving average, working days and seasonally adjusted), up by 0.2% percentage points from the rate observed in December. Employment and wages and salaries indices registered year-on-year change rate respectively of 2.2% and 2.9% (2.2% and 1.6% in the previous month).

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