Velas · report
Renovation in Velas
In 2025, 11% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.
- Work on existing buildings, 2025
- 11%
- Reconstructions per 100 new buildings
- 0.0
Buildings finished in Velas, 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 | 24 | 2 | 1 | 0 | 27 |
| 2024 | 15 | 3 | 1 | 0 | 19 |
| 2023 | 10 | 4 | 2 | 1 | 17 |
| 2022 | 8 | 5 | 2 | 0 | 15 |
| 2021 | 18 | 6 | 0 | 0 | 24 |
| 2020 | 19 | 7 | 0 | 0 | 26 |
| 2019 | 19 | 4 | 2 | 0 | 25 |
| 2018 | 15 | 7 | 2 | 0 | 24 |
| 2017 | 27 | 7 | 1 | 0 | 35 |
| 2016 | 17 | 3 | 2 | 0 | 22 |
| 2015 | 12 | 4 | 3 | 0 | 19 |
| 2014 | 17 | 2 | 0 | 0 | 19 |
| 2013 | 11 | 2 | 0 | 1 | 14 |
| 2012 | 13 | 5 | 0 | 1 | 19 |
| 2011 | 12 | 9 | 0 | 0 | 21 |
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 Velas
At the median sale price, a 90 m² home costs €109,710. With 10% down and a 30-year mortgage, the payment is €416 a month. Banco de Portugal caps it at 50% of a household's net income.
- Payment, two incomes
- 18%
- Payment, one income
- 36%
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
- €552
- Owning per month
- €385
49.1% more homes were licensed for construction in the last 12 months than in an average year of the past decade.
- Licensed, 12 months
- 17
- Per 1,000 residents
- 3.3
Figures for Região Autónoma dos Açores: Velas has no reliable figures of its own.
Over the last 12 months, buyers domiciled abroad paid 15.8% more per m² than buyers living in Portugal.
- Abroad against residents
- +15.8%
In 2025 the population grew by 94 while 16 homes were finished: 5.9 new residents for every new home.
- New residents per new home, 2025
- 5.9
- Population change, 2025
- +94
17.8% of the 3,259 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.
- Empty, 2021 census
- 17.8%
- Empty homes
- 581
Public bodies signed €94.8K of housing works here in 2015, and €273.6K since 2012.
- Signed in 2015
- €94.8K
- Per resident, 2015
- €19
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