Official Portal - Statistics Portugal

House prices increased 9.4% in 2021 and 11.6% in the 4th quarter of 2021
House Price Index
House prices increased 9.4% in 2021 and 11.6% in the 4th quarter of 2021 - 4th Quarter 2021
23 March 2022


In 2021, the House Price Index (HPI) increased 9.4% when compared with the previous year. This rate of change was 0.6 percentage points (pp) higher than in 2020. The price increase was more intense in existing dwellings (9.6%) than in new dwellings (8.7%). 

In the 4th quarter of 2021, the House Price Index (HPI) registered a year-on-year growth rate of 11.6%, 0.1 pp higher than that observed in the previous quarter. In this period, prices of existing dwellings increased at a faster pace than that of new dwellings, by 11.9% and 10.6% respectively.  

In 2021, 165,682 houses were transacted, 20.5% more than in 2020. In this period, the value of transactions totaled 28.1 billion euros, corresponding to a growth of 31.1% compared to the previous year. Existing dwellings registered an increase of 22.1% and 34.2%, respectively, in the number and value of transactions. As regards new dwellings, there was a 12.9% increase in the number of transactions and a 21.7% increase in value. 

In the last three months of 2021, there were 45,885 transactions, which represents a year-on-year growth of 17.2% and an increase, compared to the previous quarter, of 5.6%. In the 4th quarter of 2021, transactions totalled 8.2 billion euros, 34.9% more than in the same period of 2020. 

In 2021, purchases of dwellings by Households represented 85.6% and 85.7%, respectively, of the total number and value of registered transactions.  

In the period from 2019 to 2021, the value of dwelling sales whose buyer had the National Territory as their tax residence reached €64.8 billion (89.8% of the total). The European Union and the Remaining Countries, as tax residences of the buyers, recorded similar amounts, €3.8 billion and €3.5 billion, in the same order.

Press release
Download the document PDF (522 Kb)
Excel Excel (66 Kb)