According to construction and housing statistics, released by the National Statistics Institute (INE), last year, “165,682 dwellings were traded, which constitutes a new maximum and a growth of 20.5% compared to 2020”, reported the INE.

The value of homes sold in 2021 amounted to €28,100 million, 31.1% more than in 2020, while the median price of family homes sold was €1,297 per square meter (m2), which corresponds to an increase of 9% compared to the previous year.

The median price of housing remained above the national value in the sub-regions of the Algarve (2,000 euros/m2), in the Lisbon Metropolitan Area (1,813 euros/m2), in Madeira (1,436 euros/m2) and in the Metropolitan Area of Porto (1,370 euros/m2).

Rents increasing

The median rent of new rental contracts for family accommodation in Portugal reached 6.04 euros/m2, which corresponds to an increase of 7.7% compared to 2020 (+5.5% in the previous year).

There was also a 9.4% increase in the number of new contracts signed.


Construction also recorded significant growth in 2021, a period in which 25,409 buildings were licensed, an increase of 8.2% compared to 2020 (-3.7% in 2020) and 4.3% compared to 2019.

Last year, 36,731 dwellings were licensed in the country, corresponding to an increase of 8.7% compared to the previous year (33,806 dwellings in 2020, -3.9%).

INE estimates that, in 2021, 15,262 buildings were completed, corresponding to an increase of 3.6% compared to the previous year (+7.8% in 2020; 14,732 buildings) and 22,384 dwellings, representing an increase of 10, 2% (+27.6% in 2020, corresponding to 20,320 dwellings).