Statistics Portugal - Web Portal
Official Portal - Statistics Portugal

House prices increased 12.6% in 2022 and 11.3% in the 4th quarter of 2022
House Price Index
House prices increased 12.6% in 2022 and 11.3% in the 4th quarter of 2022
22 March 2023


In 2022, the House Price Index (HPI) increased 12.6%, 3.2 percentage points (pp) above the previous year. The annual increase in prices of existing dwellings (13.9%) outpaced that of new dwellings (8.7%). 

In the last quarter of 2022, the year-on-year rate of change of the HPI was 11.3%, 1.8 pp less than the previous quarter. In the 4th quarter of 2022, the price growth of existing dwellings was higher than that observed in new dwellings, 12.7% and 7.1%, respectively.

In the year 2022, 167,900 dwellings were transacted, 1.3% more than in 2021. In value, transacted dwellings totalled 31.8 billion euros, which represents an increase of 13.1% over the previous year. By category, existing dwellings registered a reduction of 0.1 % in the number and an increase of 11.6% in the value of transactions. As for new dwellings, there was an increase of 8.5% in the number of transactions and 18.2% in value.

In the 4th quarter 2022, 38,526 houses were transacted, corresponding to a year-on-year rate of change of -16.0% and a reduction of 8.8% compared to the previous quarter. In the last three months of 2022, transacted dwellings totalled 7.4 billion euros, down 10.5% compared to the same period of 2021.

Purchases of dwellings by Households, in 2022, increased 2.7% over the previous year, reaching 145,515 units and totalling 27.3 billion euros.

In 2022, there were 10,722 dwelling sales, for a total of 3.6 billion euros, to buyers with tax residence outside the National Territory, resulting in growth, compared to 2021, of 20.2% and 25.3%, respectively, in number and value.

Press release
Download the document PDF (471 Kb)
Excel Excel (68 Kb)