According to data from SIR / Confidencial Imobiliário (SIR Ci), the Portuguese residential market showed significant activity in the first half of 2025.

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The number of apartments sold increased by 19% compared to the same period last year, totaling 51,600 units. At the same time, the average price per square meter rose by 13%, reaching €3,015/m².

This growth was largely driven by state-backed public guarantees, which played a key role in facilitating young people’s access to housing. By allowing full financing for the purchase of a first home, these guarantees stimulated demand, especially in the Lisbon and Porto metropolitan areas.

Despite the increase in activity, the structural imbalance between supply and demand persisted, aggravated by the scarcity of new construction aimed at the mid-market segment. This limitation continues to be the main factor putting upward pressure on sale prices, contributing to their continued appreciation.

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According to the Bank of Portugal, €13.4 billion in mortgage credit was granted to individuals in the first half of 2025, representing the highest semi-annual amount recorded since the beginning of official statistics. This figure reflects a year-on-year increase of 21%, confirming the strong momentum in the residential market.

In Porto, apartment sale prices rose by 12% to €3,570/m², with new units also recording a 1% year-on-year increase.

Regarding future supply, considering the first six months of the year, the municipality saw an increase both in the volume of approved projects (+12%) and in projects submitted for approval (+7%).

During the first half of 2025, the private rental sector (PRS – Private Rented Sector) maintained the imbalance between supply and demand, according to SIR Ci data.

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Unlike 2024, there was a 9% increase in the number of apartments rented nationwide, totaling 5,180 units. The average contracted rent remained stable at €15/m²/month.

In the municipality of Porto, apartment rental values recorded a slight 1% increase in the first half of 2025, reaching €15.3/m²/month compared to the same period in 2024. For new properties, the average rent rose to €18.8/m²/month, reflecting a 10% year-on-year increase.

Regarding new supply in the city of Porto, a total of 273,000 m² was approved by June 2025, representing a 29% increase compared to the previous year. On the other hand, projects submitted for approval saw a slight year-on-year decrease, totaling 244,000 m². Within projects under approval, the residential sector remained dominant, recording a 7% increase to 153,000 m², followed by the office sector, which grew 9% to 32,000 m², while the remaining sectors experienced declines compared to the same period last year.