According to the latest Housing Statistical Summary released today by the Association of Civil Construction and Public Works Industries (AICCOPN), the number of licenses issued for the construction and rehabilitation of residential buildings totaled 8,641, reflecting a 15.7% increase year-on-year.
The number of housing units licensed in new constructions grew 36.3% to a total of 17,120 new homes.
AICCOPN data shows that cement consumption in the national market totaled 1,654 thousand tons, marking a 2% decrease compared to the same period last year.
The amount of new home loan credit granted by banks, excluding renegotiations, increased by 39.6% between January and May, reaching 9,124 million euros.
The interest rate on housing credit stood at 3.57% in May, a reduction of 99 basis points compared to the same period the previous year.
In May, the median housing value, determined for bank valuation purposes, recorded a year-on-year appreciation of 17.1%, resulting from increases of 21.1% in the apartment segment and 10.4% in houses.
Specifically, in the Algarve region, 1,713 housing units in new constructions were licensed in the 12 months ending in May 2025, representing a 5% increase compared to the 1,639 units licensed in the same period the previous year.
Of the total licensed units, 24% corresponded to T0 or T1 typologies, 37% to T2, 27% to T3, and 12% to T4 or larger.
