Statistics Portugal - Web Portal
Official Portal - Statistics Portugal

House prices increased 8.2% and the number of transactions diminished by 18.7% in 2023
House Price Index
House prices increased 8.2% and the number of transactions diminished by 18.7% in 2023 - 4th Quarter 2023
22 March 2024


In 2023, the House Price Index (HPI) grew by 8.2%, 4.4 percentage points (pp) less than in the previous year. By category, existing dwellings increased by 8.7%, above the rate of change for new dwellings, 6.6%.

In the last quarter of 2023, the year-on-year rate of change of the HPI was 7.8 %, 0.2 pp more than in the previous quarter. During this period, existing dwellings prices increased at a faster pace than new dwellings, 8.1% and 6.9% respectively.

In 2023, 136,499 dwellings were sold for a total of 28 billion euros. These results represent reductions of 18.7% and 11.9% in number and value, respectively, compared to 2022. The reduction was particularly intense for the transactions of existing dwellings, which recorded rates of change of -21.4% in number and -16.5% in value.  New dwellings diminished by 6.1% in the number of transactions and increased by 2.6% in value.

In the 4th quarter of 2023, 34,126 dwellings were sold, corresponding to a year-on-year reduction of 11.4% (-18.9% in the previous quarter) and a quarter-on-quarter decrease of 0.4%. In this period, the value of dwellings sold totalled 7.2 billion euros, down by 2.6% on the same period in 2022.

In 2023, Households acquired 116,752 dwellings for a total of 23.5 billion euros, which represents a year on year reduction of 19.8% in number and 13.8% in value.

Purchases of dwellings by buyers with a tax residence outside the National Territory in 2023 fell by 3.1% in number and 1.4% in value, reaching 10,391 dwellings for a total of 3.6 billion euros.

This press release begins the publication of information on the number and value of dwelling transactions according to the new NUTS 2024 geography. The published data for this new series begin in the 1st quarter of 2009, whereas the previous series according to NUTS 2013 was discontinued.

Press release
Download the document PDF (479 Kb)
Excel Excel (97 Kb)