The Commercial Property Price Index (IPPCom) increased by 4.2% in 2022, 0.9 percentage points less than in 2021, according to the National Statistics Institute (INE).
“By 2022, the commercial property prices maintained growth trajectory it started in 2014″, says the INE.
Even so, according to the statistics institute, “as has been the case since 2016, commercial real estate prices grew at a slower rate than that observed in the housing market (12.6% in 2022).”
“The housing market, described by the evolution of the IPHab [Índice de Preços da Habitação], saw an increase in prices higher than that of commercial real estate, similar to what has been happening in recent years”, he says and details that, last year, “the IPHab increased by 12.6%, 8.4 percentage points above the rate of variation of the IPPCom”.
According to the INE, “the acceleration observed in the prices of residential real estate in the last year (+3.2 percentage points), associated with the reduction in the growth rate of the market prices of commercial real estate (-0.9 percentage points), translated into a significant increase in the differential between the growth rates of both indicators, which went from 4.3 percentage points in 2021 to 8.4 percentage points in 2022”.
In 2022, of the total 167,900 accommodation transactions, 22,385 corresponded to housing acquisitions by other institutional sectors, with families acquiring 145,515 units.
These records corresponded, in the case of household purchases, to an increase of 2.7% compared to 2021 and a 6.5% reduction in purchases made by other institutional sectors.
In terms of value, sales of accommodation to buyers other than families amounted to 4.5 billion euros, representing 14.2% of the total and an increase of 12.4% over the previous year.
In the reference year, the value of home sales to families stood at 27.3 billion euros, 13.2% more than in 2021.
According to the INE, in 2022, with the exception of the second quarter, the year-on-year growth in the prices of homes purchased by the rest of the institutional sectors was more intense than that calculated for the IPHab.
In the first and third quarters, the difference in the variation rates between both indicators was greater than 2.0 percentage points, falling to 0.7 percentage points in the last quarter of the year.
Source: Observadora
