Portugal · report
Renovation in Portugal
In 2025, 18% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.
- Work on existing buildings, 2025
- 18%
- Reconstructions per 100 new buildings
- 2.3
Buildings finished in Portugal, by kind of work
Buildings completed each year: new construction, extensions, alterations and reconstructions. INE.
- Reconstructions
- Alterations
- Extensions
- New construction
Show the numbers
| Year | New construction | Extensions | Alterations | Reconstructions | Total |
|---|---|---|---|---|---|
| 2025 | 13,915 | 2,056 | 676 | 317 | 16,964 |
| 2024 | 14,362 | 2,136 | 643 | 351 | 17,492 |
| 2023 | 13,651 | 2,271 | 713 | 327 | 16,962 |
| 2022 | 14,032 | 2,387 | 730 | 387 | 17,536 |
| 2021 | 13,465 | 2,526 | 709 | 461 | 17,161 |
| 2020 | 11,972 | 2,362 | 647 | 372 | 15,353 |
| 2019 | 10,591 | 2,442 | 666 | 466 | 14,165 |
| 2018 | 9,348 | 2,273 | 557 | 338 | 12,516 |
| 2017 | 8,411 | 2,346 | 544 | 347 | 11,648 |
| 2016 | 7,803 | 2,344 | 522 | 390 | 11,059 |
| 2015 | 7,882 | 2,660 | 750 | 517 | 11,809 |
| 2014 | 8,869 | 3,028 | 879 | 571 | 13,347 |
| 2013 | 11,551 | 3,530 | 908 | 567 | 16,556 |
| 2012 | 16,143 | 4,383 | 1,204 | 684 | 22,414 |
| 2011 | 19,539 | 4,772 | 1,182 | 726 | 26,219 |
INE counts buildings, not homes, and every kind of building, not only housing. A reconstruction rebuilds an existing building; an alteration changes its layout or use.
Other reports for Portugal
Asking prices have an 80% chance of landing between €3,220/m² and €3,540/m² by September 2027.
- Expected, September 2027
- €3,380/m²
- Chance of a rise
- 89%
At the bank valuation, a 90 m² home costs €205,020. With 10% down and a 30-year mortgage, the payment is €778 a month. Banco de Portugal caps it at 50% of a household's net income.
- Payment, two incomes
- 31%
- Payment, one income
- 63%
Owning a 90 m² home costs less each month than renting it. Owning counts interest, running costs and the return the deposit could earn, at the median sale price. Repaying the loan is saving, so it is left out.
- Rent per month
- €878
- Owning per month
- €715
Sellers ask 41.7% more than banks value homes at. A year ago the gap was +50.0%.
- Gap today
- +41.7%
- Change in a year
- −8.3 pp
53.7% more homes were licensed for construction in the last 12 months than in an average year of the past decade.
- Licensed, 12 months
- 43,215
- Per 1,000 residents
- 3.8
Over the last 12 months, buyers domiciled abroad paid 33.5% more per m² than buyers living in Portugal.
- Abroad against residents
- +33.5%
Bank valuations have fallen by 3% or more once since 2011. That fall began in April 2011.
- Deepest fall
- −18.2%
- Recovery from the low
- 45 months
In 2025 the population grew by 36,809 while 30,425 homes were finished: 1.2 new residents for every new home.
- New residents per new home, 2025
- 1.2
- Population change, 2025
- +36,809
12.1% of the 5,970,677 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.
- Empty, 2021 census
- 12.1%
- Empty homes
- 723,215
Public bodies signed €862.2M of housing works here in 2025, and €2.7B since 2012.
- Signed in 2025
- €862.2M
- Per resident, 2025
- €75
Selling homes in Portugal? Keep the whole sale in one place.
Imofolio is the CRM for estate agents and agencies: properties, buyers, viewings, proposals and your own website, from the first enquiry to the closing.
