The price of used homes is higher than the price of new homes.

Looking for a house to buy? Contact the services of real estate agency Casa no Minuto and find out how we can help. Or check out the data released by INE.

INE reveals: New houses cheaper than used houses.

According to data revealed by the National Institute of Statistics (INE), shared by Notícias ao Minuto, the prices of used homes currently have grown more than the prices of new homes in the 3rd quarter.

So, in a general period when the prices of houses increased by 7.6%, data from INE concludes that the rise was more significant in the prices of used houses.

"In the 3rd quarter of 2023, the year-on-year change rate of IPHab was 7.6%, 1.1 p.p. lower than in the previous quarter, resulting in a less significant price increase observed since the 1st quarter of 2021. During this period, the prices of existing homes grew more intensively compared to new homes, 8.1% and 5.8%, respectively," as revealed by INE quoted by Notícias ao Minuto.

Compared to the previous quarter, existing home prices increased by 1.8%, 1.4 p.p. less, and for new homes, the rate of change increased by 2%, 0.8 p.p. less.

Then, according to INE, "the Housing Price Index (IPHab) increased by 7.6% in the third quarter, in year-on-year terms, 1.1 percentage points less than in the previous quarter and the smallest increase since the first quarter of 2021."

As for transactions, in the third quarter 34,256 houses were bought, totaling 7.1 billion euros, a reduction of 18.9% in existing homes and 12.2% in new homes, compared to the same period in 2022.

In general, there were 26,644 purchases of existing houses and 7,612 purchases of new houses.

Buying a house: Used or new? Casa no Minuto can help.

In the process of searching for your home to buy, the question may arise: Buy new or used?

Several factors can influence this decision, such as the current difference in prices between houses, whether it is remodeled or not, among others, 

To make the most informed decision, it's important to have help by your side.  

Hiring a real estate agency can be essential in finding the best opportunity for you, according to your needs, preferences, and possibilities.  

To hire real estate consultants, contact Casa no Minuto and discover what we can do for you! And if you need a housing loan to finance your new home, the credit intermediaries from Poupança no Minuto also offer a personalized and free service for you.