Faro · report
Renovation in Faro
In 2025, 0% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.
- Work on existing buildings, 2025
- 0%
- Reconstructions per 100 new buildings
- 0.0
Buildings finished in Faro, 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 | 15 | 0 | 0 | 0 | 15 |
| 2024 | 10 | 0 | 3 | 0 | 13 |
| 2023 | 13 | 1 | 2 | 0 | 16 |
| 2022 | 7 | 6 | 6 | 0 | 19 |
| 2021 | 4 | 7 | 5 | 0 | 16 |
| 2020 | 8 | 2 | 4 | 0 | 14 |
| 2019 | 9 | 6 | 7 | 0 | 22 |
| 2018 | 9 | 3 | 6 | 0 | 18 |
| 2017 | 2 | 12 | 4 | 0 | 18 |
| 2016 | 10 | 12 | 3 | 0 | 25 |
| 2015 | 7 | 17 | 4 | 1 | 29 |
| 2014 | 10 | 22 | 8 | 2 | 42 |
| 2013 | 29 | 38 | 5 | 1 | 73 |
| 2012 | 35 | 49 | 5 | 1 | 90 |
| 2011 | 53 | 62 | 1 | 2 | 118 |
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 Faro
Asking prices have an 80% chance of landing between €4,311/m² and €4,779/m² by September 2027.
- Expected, September 2027
- €4,545/m²
- Chance of a rise
- 100%
At the bank valuation, a 90 m² home costs €262,890. With 10% down and a 30-year mortgage, the payment is €998 a month. Banco de Portugal caps it at 50% of a household's net income.
- Payment, two incomes
- 41%
- Payment, one income
- 83%
Renting a 90 m² home costs less each month than owning 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
- €926
- Owning per month
- €995
Sellers ask 34.3% more than banks value homes at. A year ago the gap was +30.9%.
- Gap today
- +34.3%
- Change in a year
- +3.5 pp
11.1% more homes were licensed for construction in the last 12 months than in an average year of the past decade.
- Licensed, 12 months
- 106
- Per 1,000 residents
- 1.3
Over the last 12 months, buyers domiciled abroad paid 23.1% more per m² than buyers living in Portugal.
- Abroad against residents
- +23.1%
Bank valuations have fallen by 3% or more 9 times since 2014. The deepest began in June 2020.
- Deepest fall
- −8.8%
- Recovery from the low
- 8 months
In 2025 the population fell by 60 while 40 homes were finished.
- Homes finished, 2025
- 40
- Population change, 2025
- −60
12.6% of the 38,638 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.
- Empty, 2021 census
- 12.6%
- Empty homes
- 4,851
Public bodies signed €17.2M of housing works here in 2025, and €31.4M since 2012.
- Signed in 2025
- €17.2M
- Per resident, 2025
- €215
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