House sales prices in mainland Portugal rise by 7.9% in September

“From year to year, prices rise by 7.9% in September, a net slowdown compared to the 11.7% increase August“, Confidencial Imobiliário indicated in a statement.

According to the document, since the beginning of the year, the progression on an annual basis “has slowed down”, especially in recent months.

Therefore, “the annual growth rate of prices in September it is less than half at the beginning of the year, when that appreciation reached 17.4% “, he stressed.

However, compared to August, prices fell by 2.1%.

As Confidencial pointed out, except for residual negative changes, this is also the first chain descent since then September 2015 is one of the most pronounced monthly setbacks since 2007.

Cited in the same document, the director Confidencial Imobiliário reported that the decline in September “it will have a meaning only on the basis of the evolution” that will happen in the following months.

“This reduction brings prices back to the same level as March 2020, canceling the growth recorded since then. It is normal to have expectations of falling prices, in the face of the current economic and social crisis “, underlined Ricardo Guimarães, noting that it is also legitimate for the market to resist and wait for information on the resolution of the pandemic of covid-19.

IS index of residential prices is determined by the data communicated to the SIR – Residential Information System since 2007.

Confidencial Imobiliário is a ‘database‘independent of statistical data on the prices of transaction, annuities and property leases.