SYNTHESIS INE@COVID-19, 6 Nov-2020

November . 06 . 2020 SYNTH SIS IN @ COVID-19 www.ine.pt Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt The median price of housing grew less in year-on-year terms More information available at: House price statistics at the local level – 2 nd quarter 2020 (29 October 2020) In Portugal, in the 2 nd quarter of 2020, the median price of dwellings was €1,187/m 2 (1.4% less than in the previous quarter and 9.4%more than in the same quarter of 2019). This value represents a reduction of 5 percentage points (p.p.) in the year-on-year rate of change between the 1 st and 2 nd quarters of 2020. At a regional level (NUTS III): • In three of these regions, the median price of dwellings stood above the national value: - Algarve (€1,807/m 2 ); - Área Metropolitana de Lisboa (€1,601/m 2 ); - Região Autónoma da Madeira (€1,310/m 2 ). • In 14 of these regions, the growth rhythm of housing prices decelerated and in eight of those the slowdown was higher than that of the country; • This deceleration was more marked in the sub-regions of Médio Tejo (-15.4 p.p.) and Lezíria do Tejo (-10.0 p.p.), but also occurred in Área Metropolitana do Porto (-7.2 p.p.), Região Autónoma da Madeira (-6.9 p.p.) and Área Metropolitana de Lisboa (-4.2 p.p.), the three NUTS III regions with the highest housing prices in the country. Concerning the 24 municipalities with more than 100 thousand inhabitants: • The year-on-year rate of change decreased between the 1 st and 2 nd quarters in most of them (19), including Área Metropolitana do Porto and Área Metropolitana de Lisboa; • This deceleration was higher than that of the country in 10 of those municipalities, with particularly steep values in Funchal (-15.8 p.p.), Gondomar (-15.5 p.p.), and less so in Maia (-9.0 p.p.) and Setúbal (-8.0 p.p.); • Santa Maria da Feira (+7.8 p.p.), Guimarães (+7.2 p.p.), Porto (+3.1 p.p.), Seixal (+ 2.7 p.p.), and Oeiras (+1.0 p.p.) were the only municipalities with more than 100 thousand inhabitants that registered an acceleration in the growth of housing prices. Considering the results for the median price of dwellings in Portugal in the 12 months ending in the 2 nd quarter of 2020: • The country’s median value was €1,137/m 2 (+1.8% compared to the previous quarter and +10.3% vis-à-vis the same quarter a year earlier); • The value for the regions Algarve (€1,682/m 2 ), Área Metropolitana de Lisboa (€1,550 €/m 2 ), Região Autónoma da Madeira (€1,272/m 2 ) and Área Metropolitana do Porto (€1,153/m 2 ) was higher than that of the country. - In the period under review, 48 municipalities showed a median price higher than the national value, located mostly in the Algarve sub-regions (14 out of 16 municipalities) and Área Metropolitana de Lisboa (15 out of 18). The municipality of Lisbon (€3,376/m 2 ) recorded the highest price in the country. • Área Metropolitana de Lisboa was the sub-region with the highest price range between municipalities (€2,527/m 2 ): the lowest value was registered in Moita (€849/m 2 ) and the highest in Lisboa. • Algarve, Área Metropolitana do Porto and the region of Coimbra also presented price differences between municipalities above €1,000/m 2 page 9/15