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The average value of bank appraisals on housing reached €1,176 per square meter in May, €5 more than in the previous month. This represents a 0.4% increase in relation to April and a year-on-year growth rate of 5.9%.
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In 2017, the Commercial Property Price Index (CPPI) rose 3.3% when compared with the previous year, 1.3 percentage points (p.p.) more than in 2016.
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.
The average value of bank appraisals on housing reached the €1,167 per square meter in March, €7 more than in the previous month. This represents a 0.6% increase in relation to February and a year-on-year growth rate of 5.4%.
The index of production in construction increased by 3.5% in the quarter ending in February 2018, in year-on-year terms (3 months moving average, working days and seasonally adjusted), up by 0.4% percentage points from the rate observed in January.
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.