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Porto · report

New homes in Porto

109.6% more homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
3,050
Per 1,000 residents
11.2

Homes licensed for construction in Porto

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

  • Porto
  • Ten-year average
Show the numbers
PeriodPorto
Aug 20263,050
Jul 20262,564
Jun 20262,324
May 20262,013
Apr 20262,194
Mar 20262,094
Feb 20262,112
Jan 20261,989
Dec 20251,904
Nov 20251,858
Oct 20251,778
Sep 20251,993
Aug 20252,188
Jul 20252,199
Jun 20252,225
May 20252,344
Apr 20252,441
Mar 20252,561
Feb 20252,614
Jan 20252,616
Dec 20242,558
Nov 20242,599
Oct 20242,409
Sep 20242,210
Aug 20242,054
Jul 20241,931
Jun 20241,920
May 20241,908
Apr 20241,560
Mar 20241,556
Feb 20241,666
Jan 20241,614
Dec 20231,625
Nov 20231,658
Oct 20231,699
Sep 20231,671
Aug 20231,622
Jul 20231,664
Jun 20231,597
May 20231,588
Apr 20231,725
Mar 20231,842
Feb 20231,711
Jan 20231,756
Dec 20221,701
Nov 20221,661
Oct 20221,641
Sep 20221,662
Aug 20221,616
Jul 20221,769
Jun 20222,236
May 20222,176
Apr 20222,009
Mar 20221,758
Feb 20221,737
Jan 20221,757
Dec 20211,771
Nov 20211,789
Oct 20211,827
Jul 20211,905
Apr 20211,554
Jan 20211,384
Oct 20201,419
Sep 20201,273
Aug 20201,247
Jul 20201,125
Jun 20201,098
May 2020961
Apr 2020936
Mar 20201,013
Feb 2020985
Jan 20201,020
Dec 2019930
Nov 2019980
Oct 2019972
Sep 2019992
Aug 2019992
Jul 20191,000
Jun 20191,020
May 20191,114
Apr 20191,138
Mar 20191,030
Feb 20191,293
Jan 20191,378
Dec 20181,289
Nov 20181,160
Oct 20181,069
Sep 20181,061
Aug 20181,072
Jul 20181,026
Jun 2018989
May 2018877
Apr 2018790
Mar 2018821
Feb 2018602
Jan 2018416
Dec 2017437
Nov 2017459
Oct 2017513
Sep 2017389
Aug 2017376
Jul 2017397
Jun 2017441
May 2017463
Apr 2017511
Mar 2017490
Feb 2017423
Jan 2017414
Dec 2016403
Nov 2016381
Oct 2016329
Sep 2016342
Aug 2016322
Jul 2016296
Jun 2016237
May 2016187
Apr 2016121
Mar 2016112
Feb 2016105
Jan 2016102
Dec 2015153
Nov 2015147
Oct 2015141
Sep 2015130
Aug 2015127
Jul 2015131
Jun 2015122
May 2015119
Apr 2015116
Mar 2015121
Feb 2015124
Jan 2015129
Dec 201466
Nov 201450
Oct 201451
Sep 201444
Aug 201444
Jul 201449
Jun 201454
May 201453
Apr 201462
Mar 201461
Feb 201458
Jan 201454
Dec 201354
Nov 201346
Oct 201344
Sep 201347
Aug 201348
Jul 201356
Jun 201351
May 201352
Apr 201369
Mar 201397
Feb 201396
Jan 201394
Dec 201296
Nov 201299
Oct 2012101
Sep 2012103
Aug 2012138
Jul 2012126
Jun 2012121
May 2012124
Apr 201297
Mar 201286
Feb 201295
Jan 2012118
Dec 2011139
Nov 2011149
Oct 2011183
Sep 2011178
Aug 2011141

Homes finished and licensed each year in Porto

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
20251,3061,904
20241,3792,558
20231,2231,625
20229261,701
20211,2291,771
20207911,484
2019309930
20182821,289
2017117437
2016170403
201550153
201422366
201324654
201232396
2011392139
Homes finished per 1,000 residents, 2025
4.8

Who built the homes finished in Porto

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
202591.2%8.8%0.0%0.0%1,306
202491.2%7.9%0.0%0.9%1,379
202392.9%6.9%0.0%0.2%1,223
202277.2%22.5%0.0%0.3%926
202170.9%29.1%0.0%0.0%1,229
202095.4%4.6%0.0%0.0%791
201970.9%29.1%0.0%0.0%309
201892.6%7.4%0.0%0.0%282
201776.9%23.1%0.0%0.0%117
201687.6%12.4%0.0%0.0%170
201590.0%10.0%0.0%0.0%50
201493.3%6.7%0.0%0.0%223
201385.4%14.6%0.0%0.0%246
201279.3%20.1%0.0%0.6%323
201188.8%11.2%0.0%0.0%392

Homes finished in Porto, 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
202546.6%27.5%16.5%9.3%1,306
202448.9%24.8%20.3%6.0%1,379
202346.5%25.6%21.9%6.0%1,223
202254.1%20.7%16.6%8.5%926
202151.7%24.3%17.1%6.8%1,229
202059.8%22.6%11.5%6.1%791
201950.5%14.9%21.7%12.9%309
201830.5%31.2%25.9%12.4%282
201741.0%24.8%16.2%17.9%117
201650.0%23.5%22.4%4.1%170
201534.0%30.0%26.0%10.0%50
201413.0%20.6%23.3%43.0%223
201317.9%24.8%17.1%40.2%246
201220.1%26.0%30.7%23.2%323
201127.3%22.4%25.8%24.5%392

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 Porto

Next 12 months

Asking prices have an 80% chance of landing between €4,286/m² and €4,742/m² by September 2027.

Expected, September 2027
€4,514/m²
Chance of a rise
83%

Affordability

At the bank valuation, a 90 m² home costs €301,140. With 10% down and a 30-year mortgage, the payment is €1,143 a month. Banco de Portugal caps it at 50% of a household's net income.

Payment, two incomes
47%
Payment, one income
93%

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
€1,303
Owning per month
€1,146

Asking against valuation

Sellers ask 29.9% more than banks value homes at. A year ago the gap was +28.9%.

Gap today
+29.9%
Change in a year
+1.0 pp

Foreign buyers

Over the last 12 months, buyers domiciled abroad paid 22.8% more per m² than buyers living in Portugal.

Abroad against residents
+22.8%

Past cycles

Bank valuations have fallen by 3% or more 5 times since 2011. The deepest began in September 2011.

Deepest fall
−19.0%
Recovery from the low
25 months

People and new homes

In 2025 the population fell by 503 while 1,306 homes were finished.

Homes finished, 2025
1,306
Population change, 2025
−503

Empty homes

15.2% of the 133,352 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
15.2%
Empty homes
20,270

Renovation

In 2025, 50% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.

Work on existing buildings, 2025
50%
Reconstructions per 100 new buildings
1.3

Public housing works

Public bodies signed €24.4M of housing works here in 2025, and €138.8M since 2012.

Signed in 2025
€24.4M
Per resident, 2025
€89

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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