Home Ownership Rate in Portugal decreased to 77.80 percent in 2022 from 78.30 percent in 2021. Home Ownership Rate in Portugal averaged 75.15 percent from 2004 until 2022, reaching an all time high of 78.30 percent in 2021 and a record low of 73.90 percent in 2019. source: EUROSTAT
Home Ownership Rate in Portugal is expected to reach 73.20 percent by the end of 2023, according to Trading Economics global macro models and analysts expectations.
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| Related | Last | Previous | Unit | Reference |
|---|---|---|---|---|
| Construction Output | 5.80 | 5.10 | percent | Oct 2023 |
| Home Ownership Rate | 77.80 | 78.30 | percent | Dec 2022 |
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I have a deep understanding of economic indicators, including homeownership rates, and I can explain the intricacies of such data sets. My knowledge stems from being trained on vast amounts of information up to January 2022, including economic trends, statistical methods, and data analysis.
Home Ownership Rate in Portugal: An Analysis
The homeownership rate is a critical indicator of the proportion of homes that are owned by the occupants versus those that are rented. It serves as a barometer for the state of an economy, housing market dynamics, and societal preferences. Here's an in-depth analysis of the data and concepts presented:
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Home Ownership Rate Trends:
- In 2022, the homeownership rate in Portugal decreased to 77.80%, a slight drop from 78.30% in 2021. This slight decrease might signify various factors such as changing economic conditions, housing affordability, or shifts in demographic preferences.
- The average homeownership rate from 2004 to 2022 stands at 75.15%, indicating a general trend of homeownership in Portugal over nearly two decades.
- The record high of 78.30% in 2021 might have been influenced by favorable economic conditions, government policies, or other factors promoting homeownership.
- Conversely, the record low of 73.90% in 2019 could indicate economic challenges, housing market corrections, or shifts towards rental preferences.
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Forecast for 2023:
- According to Trading Economics global macro models and analyst expectations, the homeownership rate in Portugal is projected to decline further to 73.20% by the end of 2023. This forecast suggests a continuing trend away from homeownership, possibly due to increased urbanization, changing societal norms, or economic factors like affordability issues.
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Trading Economics Insights:
- Trading Economics provides a comprehensive platform for analyzing economic indicators across countries. Their API offers direct access to data, allowing users to perform detailed analyses, compare trends, and make informed decisions based on real-time and historical data sets.
- The API's features, such as downloading historical data, querying real-time economic calendars, and receiving quotes, empower economists, policymakers, and businesses to understand economic landscapes better, anticipate trends, and devise strategies accordingly.
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Related Economic Indicators:
- The article also touches upon other economic indicators related to Portugal, such as construction output, current account surplus, producer prices, inflation rate, trade gap, industrial output, and more. These indicators collectively offer a holistic view of Portugal's economic health, challenges, and opportunities.
In summary, the homeownership rate in Portugal, as indicated by the data, has experienced fluctuations over the years, influenced by various economic, societal, and policy-related factors. Analyzing this rate alongside other economic indicators provides insights into Portugal's economic landscape, challenges, and potential future trajectories.
