INE's housing price index kept rising, but transactions fell, and purchases by buyers with a tax domicile abroad dropped 15.6%.
According to Portugal's national statistics institute INE, the Housing Price Index rose 17.8% year on year in the first quarter of 2026, 1.1 percentage points less than in the previous quarter. Existing dwellings rose 19.7% and new dwellings 12.6%. On the previous quarter the index grew 3.8%.
Between January and March 2026, 37,745 dwellings were sold, 8.7% fewer than a year earlier and 12.4% fewer than in the previous quarter. The value of the dwellings sold came to 9.9 billion euros, 3.2% more than a year earlier.
Households bought 32,828 dwellings, 87.0% of the total. Buyers with a tax domicile outside Portugal bought 1,770 dwellings, a year-on-year fall of 15.6%.
INE also moved the index to a new base year of 2025 = 100 with this release; it says no methodological changes were made.