Housing: Prices rose 9.8% in the third quarter of 2024.

How did housing prices fare in the third quarter of the year 2024?  

The Housing Price Index (IPhab) registered a year-on-year growth of 9.8% in the third quarter, accelerating 2.0 percentage points compared to the previous quarter, announced the National Institute of Statistics (INE).

According to a statement released by INE and cited by Notícias ao Minuto, the price increase was more significant in existing homes, with a variation of 10.5%, compared to 8.1% in new homes.

Compared to the previous quarter, IPHab grew by 3.7%, slightly below the 3.9% observed in the second quarter of 2024.

The rate of change in prices of existing homes (3.8%) was higher than new homes, which was at 3.3%.

Between July and September 2024, 40,909 accommodation transactions took place, representing a 19.4% increase compared to the same period in 2023.

In the same period, the total value of transactions approached 9.1 billion euros, a 28% increase compared to the third quarter of 2023. 

INE highlights that 35,462 homes (86.7% of the total) were acquired by institutional buyers from families, totaling 7.7 billion euros (85.4% of the overall value of transactions).

As for buyers with fiscal residence outside the national territory, they acquired 2,655 properties, a decrease of 3.1% compared to the same period of the previous year.

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