According to the Residential Price Index from Confidencial Imobiliário, quarterly appreciation has been accelerating since the middle of last year, following the recovery in sales, in a context of persistent restriction of available supply. Thus, from an increase of 1.8% in the 2nd quarter of 2024, it went to a rate of 2.5% in the following quarter and 4.1% in the last quarter of the year. The 1st quarter of 2025 confirms that prices maintain an intensifying upward curve, which is immediately evident in the monthly behavior of the market. In fact, the course of the year has been marked by strong monthly increases since January, which have been around 2.0%, with a peak of 2.7% recorded in March, the highest monthly increase since 2007.

The rise in prices is also visible in the annual variation, which reached 15.8% in March 2025. This is an increase that is already 4.8 percentage points above the 11.0% recorded at the end of last year.

The rapid rise in prices continues to reflect the high dynamics of demand, which is confirmed once again in the 1st quarter of 2025, a period in which 40,750 homes are estimated to be sold in the country. This is a volume that keeps the market trading above 40 thousand units, despite being 5% below the level observed in the previous quarter. In this quarter, there were 43,100 transactions, a peak that includes sales that had been postponed, for example, as a result of measures such as the public guarantee. Thus, Q1 2025 remains in line with the pattern recorded in Q4 2024 and sustains the annual market growth level of around 25%. In fact, sales estimates for the 1st quarter of 2025 point to a 28% increase in the number of homes sold compared to the same quarter of the previous year.

Average sales prices also reflect the evolution of the Price Index, reaching €2,701/m2 in the 1st quarter of 2025, a value that compares with the €2,390/m2 that the average number of transactions recorded in the 1st quarter of last year.