Young housing support: Demand for housing is growing, but prices are also increasing.
The improvement that has been felt in the housing market, with new support measures for young people and falling interest rates, brings positive points such as increased sales. However, on the other hand: the increase in house prices as well. Understand better, then.
New measures and lower interest rates contribute to increased demand for housing, as well as prices rising.
The new measures from the Government for young housing, as well as the decrease in interest rates, have led to an increase in the demand for housing, but also to an increase in property prices.
According to data from the Residential Information System (SIR) of Confidencial Imobiliário, shared by Notícias ao Minuto, the more favorable situation in the housing market led to a 3.3% increase in sales (34,500 just in Continental Portugal). At the same time, in August, prices also rose by 7.7% compared to the same period last year and 0.9% compared to the previous month.
Regarding values, between June and August this year, houses in Continental Portugal were sold at an average price of 2,456 euros per square meter. The most expensive area in the country was the Lisbon Metropolitan Area, with an average housing cost, per square meter, of 2,937 euros. Next is the Algarve with an average price of 2,882 euros per square meter and the Porto Metropolitan Area, with an average price of 2,372 euros per square meter.
According to the news, the director of Confidencial Imobiliário, Ricardo Guimarães, points to the first months of the year with a "relative instability", since "despite not rising, interest rates behaved more conservatively than expected and took longer to fall". "On the other hand, at the domestic level, there was an increase in uncertainty not only as a result of the election scenario experienced but also later on how and when the new political measures for the sector would reach the market."
Therefore, it can still be read that the person in charge acknowledges, this "context ended up conditioning demand decisions, leading to the postponement of investments and hindering demand recovery".
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