The sale price of houses in the country showed a quarterly variation of 1.2% in the first quarter of this year, a period that coincided with the second general confinement. The quarterly appreciation thus remained at levels similar to that observed in the 4th quarter of 2020, namely 1.3%.
Disaggregating behavior by month, it appears that, throughout the quarter, prices have shown a path of stability, with marginal monthly variations. In March, the monthly variation remained at 0.3%.
In year-on-year terms, prices increased by 2.6% in March 2021. Despite maintaining the year-on-year variation in positive territory, this result confirms the trend of loss of growth rhythm seen in the last year and which has been the main reflection of the pandemic on price behavior. At the end of the 1st quarter of 2020, house prices rose more than 15% year on year, with this indicator losing steam throughout 2020. The year ended with a year-on-year rate of change of 4.8%, now compressed again.
The average selling price of homes in mainland Portugal was € 1,653 / m2 in the first quarter of 2021. Regarding the average sale time of the houses, it is 6 months.
Golden Visa Programme Brings in €125 Million in the First Quarter of 2021
Investment captured through the golden visa programme grew by 4.5% in the first quarter, compared to the same period in 2020.
The golden visa programme raised 125 million euros in the first quarter of 2021, the Portuguese government granted 81 golden visas last month, 72 of which were for real estate purchases and eight for capital transfers (€4.3 million). For the first time in some time, a visa was also granted due to job creation.
Investments stemming from the Residence Permit for Investment (ARI) programme totalled 119.6 million euros in the first quarter of last year. In March this year, the value amounted to 39,632,569.30 euros, an increase of 41.9% compared to the same month of 2020 (€27.9 million), though down by 24% m-o-m (€52.3 million). In comparison, real estate purchases totalled 35.3 million euros, 8.8 million euros of which were for urban rehabilitation.
By country, 31 Golden Visas were granted to China, six to Brazil, six to the United States, five to Turkey and four to Russia. In the first three months of the year, 236 gold visas were granted. The golden visa programme, initially launched in October 2012, has brought in investments of €5,764,058,842.33. Most of this amount corresponds to real estate purchases (€5.21279 billion), with urban rehabilitation totalling €297,686,140.99. Investments resulting from capital transfers totalled 551,269,248.64 euros. Since the ARI’s creation, the Portuguese government has granted 9,042 visas stemming from real estate purchases and another 826 for urban rehabilitation.
Sources: Confidencial Imobiliário / SIR-Residential Information System / LUSA / SEF
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