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Santa Cruz · report

New homes in Santa Cruz

96.3% more homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
186
Per 1,000 residents
4.2

Homes licensed for construction in Santa Cruz

Dwellings in new buildings licensed over the previous 12 months, at each month.

  • Santa Cruz
  • Ten-year average
Show the numbers
PeriodSanta Cruz
Aug 2026186
Jul 2026185
Jun 2026183
May 2026187
Apr 2026113
Mar 2026112
Feb 202693
Jan 202662
Dec 202564
Nov 202579
Oct 2025152
Sep 2025164
Aug 2025159
Jul 2025217
Jun 2025217
May 2025211
Apr 2025225
Mar 2025232
Feb 2025232
Jan 2025232
Dec 2024226
Nov 2024212
Oct 2024142
Sep 2024129
Aug 2024131
Jul 2024114
Jun 2024110
May 2024112
Apr 2024141
Mar 2024134
Feb 2024132
Jan 2024131
Dec 2023128
Nov 2023132
Oct 2023143
Sep 2023152
Aug 2023151
Jul 2023108
Jun 2023107
May 2023112
Apr 202371
Mar 202377
Feb 202378
Jan 202374
Dec 202275
Nov 2022104
Oct 202288
Sep 202278
Aug 202275
Jul 202279
Jun 202284
May 202282
Apr 202287
Mar 202281
Feb 202280
Jan 2022113
Dec 2021111
Nov 202176
Oct 202176
Jul 202176
Apr 202181
Jan 202147
Oct 202058
Sep 202054
Aug 202052
Jul 202050
Jun 202043
May 202043
Apr 202037
Mar 202099
Feb 202093
Jan 202093
Dec 201992
Nov 201988
Oct 201989
Sep 201991
Aug 201991
Jul 201994
Jun 201992
May 201988
Apr 201988
Mar 201929
Feb 201930
Jan 201931
Dec 201834
Nov 201874
Oct 201881
Sep 201825
Aug 2018120
Jul 201890
Jun 201820
May 2018121
Apr 201895
Mar 201823
Feb 2018121
Jan 201886
Dec 201716
Nov 201778
Oct 201732
Sep 201716
Aug 201728
Jul 201719
Jun 201719
May 201720
Apr 201713
Mar 201713
Feb 201716
Jan 201717
Dec 201613
Nov 201615
Oct 201619
Sep 201621
Aug 201615
Jul 201619
Jun 201620
May 201618
Apr 201615
Mar 201615
Feb 201614
Jan 201613
Dec 201514
Nov 201514
Oct 201513
Sep 201514
Aug 201515
Jul 201518
Jun 201518
May 201518
Apr 201523
Mar 201524
Feb 201524
Jan 201525
Dec 201426
Nov 201423
Oct 201418
Sep 201421
Aug 201420
Jul 201411
Jun 201418
May 201417
Apr 201412
Mar 201420
Feb 201422
Jan 201414
Dec 201315
Nov 201324
Oct 201317
Sep 201314
Aug 201326
Jul 201323
Jun 201318
May 201328
Apr 201319
Mar 201314
Feb 201323
Jan 201326
Dec 201228
Nov 201229
Oct 201231
Sep 201238
Aug 201237
Jul 201244
Jun 201244
May 201243
Apr 201245
Mar 201247
Feb 201249
Jan 201244
Dec 201168
Nov 201167
Oct 201173
Sep 201166
Aug 201163

Homes finished and licensed each year in Santa Cruz

Homes completed in new buildings (columns) against homes licensed for construction (line), each year since 2011. INE.

  • Homes finished
  • Homes licensed
Show the numbers
YearHomes finishedHomes licensed
202513064
202460226
202348128
202210675
202145111
202013250
20192392
20183034
20171271
20162015
20152514
20143524
20132319
20123828
201115468
Homes finished per 1,000 residents, 2025
2.9

Who built the homes finished in Santa Cruz

Who built the homes completed each year, as a share of that year. INE, since 2011.

  • Cooperatives and others
  • Public bodies
  • Private individuals
  • Companies
Show the numbers
YearCompaniesPrivate individualsPublic bodiesCooperatives and othersTotal
202569.2%30.8%0.0%0.0%130
202465.0%35.0%0.0%0.0%60
202335.4%62.5%2.1%0.0%48
202288.7%11.3%0.0%0.0%106
202160.0%40.0%0.0%0.0%45
202081.8%18.2%0.0%0.0%132
20198.7%91.3%0.0%0.0%23
201866.7%33.3%0.0%0.0%30
20170.0%91.7%8.3%0.0%12
201625.0%75.0%0.0%0.0%20
201540.0%60.0%0.0%0.0%25
201471.4%28.6%0.0%0.0%35
20130.0%100.0%0.0%0.0%23
201210.5%89.5%0.0%0.0%38
201161.0%22.7%16.2%0.0%154

Homes finished in Santa Cruz, by number of bedrooms

Homes completed in new buildings by number of bedrooms, as a share of each year. INE.

  • Four or more
  • Three bedrooms
  • Two bedrooms
  • Studio or one bedroom
Show the numbers
YearStudio or one bedroomTwo bedroomsThree bedroomsFour or moreTotal
202536.9%38.5%21.5%3.1%130
202413.3%50.0%33.3%3.3%60
202318.8%14.6%56.3%10.4%48
202215.1%51.9%32.1%0.9%106
20210.0%15.6%84.4%0.0%45
202016.7%49.2%33.3%0.8%132
20190.0%34.8%65.2%0.0%23
201810.0%30.0%53.3%6.7%30
20178.3%33.3%58.3%0.0%12
20160.0%5.0%95.0%0.0%20
20154.0%48.0%44.0%4.0%25
20142.9%8.6%68.6%20.0%35
20134.3%26.1%56.5%13.0%23
201210.5%15.8%52.6%21.1%38
201112.3%19.5%63.0%5.2%154

A licence is permission to build, not a finished home: most are completed one to three years later, and some never are. INE publishes licensing three months at a time, so four windows make a year.

Other reports for Santa Cruz

Next 12 months

Asking prices have an 80% chance of landing between €2,951/m² and €3,699/m² by September 2027.

Expected, September 2027
€3,325/m²
Chance of a rise
81%

Affordability

At the bank valuation, a 90 m² home costs €243,630. With 10% down and a 30-year mortgage, the payment is €924 a month. Banco de Portugal caps it at 50% of a household's net income.

Payment, two incomes
33%
Payment, one income
67%

Buy or rent

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
€1,031
Owning per month
€901

Asking against valuation

Sellers ask 13.2% more than banks value homes at. A year ago the gap was +31.1%.

Gap today
+13.2%
Change in a year
−17.9 pp

Foreign buyers

Over the last 12 months, buyers domiciled abroad paid 11.7% more per m² than buyers living in Portugal.

Abroad against residents
+11.7%

Past cycles

Bank valuations have fallen by 3% or more 6 times since 2014. The deepest began in July 2014.

Deepest fall
−15.2%
Recovery from the low
18 months

People and new homes

In 2025 the population grew by 261 while 130 homes were finished: 2.0 new residents for every new home.

New residents per new home, 2025
2.0
Population change, 2025
+261

Empty homes

11.3% of the 20,373 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
11.3%
Empty homes
2,299

Renovation

In 2025, 27% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.

Work on existing buildings, 2025
27%
Reconstructions per 100 new buildings
0.0

Public housing works

Public bodies signed €127K of housing works here in 2024, and €2.4M since 2012.

Signed in 2024
€127K
Per resident, 2024
€3

Data: INE, ECB and others · updated October 27, 2026

Asking prices and bank valuations are not sale prices. This is a description of public data, not financial advice.

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