Data from the National Statistics Institute (INE) reveals that in the third quarter of 2024, a total of 40,909 houses were sold in Portugal for around 9.1 billion euros, with the houses sold for an average price of 221,272 euros in this period.

But the reality between new and used homes is very different both in terms of number of transactions and in terms of prices:

Used homes: 32,307 used homes were sold for around 6.5 billion euros (the vast majority). The average price for a used house was 200,223 euros in this period;

New homes: a total of 8,602 new homes were traded in the summer of 2024, which generated a turnover of almost 2.6 billion euros. This means that the average price of a new house was 300,328 euros. This was the first time that the average value of new housing exceeded this mark, taking into account the INE series that started in 2009.

When comparing average prices, it appears that new homes were sold, on average, for €100,000 more than used homes, that is, for a price 50% higher. This price difference reflects the current higher construction costs.