According to figures from the National Institute of Statistics (INE), the sale of homes increased in March by 40.6% year-on-year, totalling 62,808 transactions. This represents the highest figure for this month since 2007, when over 74,000 sales were recorded. The sale of homes has now seen nine consecutive months of year-on-year increases.
The year-on-year increase in home sales in March was a consequence of the rebound in transactions involving both new properties (64.2% year-on-year, up to 14,562 transactions) and previously owned homes (34.8% year-on-year, up to 48,246 transactions).
93.2% of the homes transacted through sales in March were free-market homes (up 41.0% year-on-year to 58,568 transactions). The remainder of the sales transactions were for protected housing (up 35.8% year-on-year to 4,240 transactions).
In relation to February, home sales increased by 5.2%, with increases of 4.5% in transactions involving new homes and 5.5% in those involving previously owned homes.
