{
  "id": "macro_economics/housing/europe_housing_market_activity_monthly",
  "generated_at": "2026-07-15T09:27:26.612508+00:00",
  "last_refresh": "2026-07-13",
  "source": "ECB MIR monthly new housing loans adjusted with Eurostat total dwelling house price index, and Eurostat residential building permit data; mortgage series smoothed with a 3-month moving average before rebasing and weighting.",
  "source_description": "Monthly Portugal housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100.",
  "table_id": "macro_economics/housing/europe_housing_market_activity_monthly",
  "meta": {
    "indicator_name": "Portugal Housing Market Activity",
    "indicator_description": "Monthly Portugal housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100.",
    "title": "Portugal Housing Market Activity",
    "description": "Monthly Portugal housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100.",
    "source": "ECB MIR monthly new housing loans adjusted with Eurostat total dwelling house price index, and Eurostat residential building permit data; mortgage series smoothed with a 3-month moving average before rebasing and weighting.",
    "source_description": "Monthly Portugal housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100.",
    "visibility": "paid",
    "updated_at": "2026-07-13T10:34:51.038196Z",
    "last_refresh": "2026-07-13",
    "table_id": "macro_economics/housing/europe_housing_market_activity_monthly",
    "topic": "Macroeconomics",
    "subtopic": "Housing",
    "geo": [
      "PT"
    ],
    "geo_included": [
      "PT"
    ],
    "page_slug": "portugal-housing-market-activity",
    "page_url": "/indicators/macroeconomics/housing/portugal-housing-market-activity/",
    "chart_type": "line",
    "series_type": "single",
    "frequency": "monthly",
    "units": "Index (2019 = 100)",
    "legend": false,
    "featured_topic": true,
    "featured_subtopic": true,
    "featured_rank_topic": 5,
    "featured_rank_subtopic": 2,
    "chart_title": "Portugal Housing Market Activity",
    "y_axis_label": "Index [2019=100]",
    "related_indicators": [
      {
        "title": "Portugal Furniture Market Hub",
        "url": "/market/portugal-furniture-market-hub/",
        "label": "Market hub"
      },
      {
        "title": "Portugal Furniture Retail Market Size",
        "url": "/indicators/retail/market-size/portugal-furniture-retail-turnover/",
        "label": "Retail"
      },
      {
        "title": "Portugal Furniture Consumer Market Size",
        "url": "/indicators/retail/market-size/portugal-furniture-consumer-market-size/",
        "label": "Market size"
      },
      {
        "title": "Spain Housing Market Activity",
        "url": "/indicators/macroeconomics/housing/spain-housing-market-activity/",
        "label": "Housing"
      }
    ],
    "taxonomy_path": [
      "macroeconomics",
      "housing",
      "market-activity"
    ],
    "taxonomy_labels": [
      "Macroeconomics",
      "Housing",
      "Market activity"
    ],
    "taxonomy_nodes": [
      {
        "id": "macroeconomics",
        "label": "Macroeconomics",
        "has_page": true,
        "sort_order": 30
      },
      {
        "id": "housing",
        "label": "Housing",
        "has_page": true,
        "sort_order": 20
      },
      {
        "id": "market-activity",
        "label": "Market activity",
        "has_page": false,
        "sort_order": 10
      }
    ],
    "taxonomy_page_path": [
      "macroeconomics",
      "housing"
    ],
    "taxonomy_page_labels": [
      "Macroeconomics",
      "Housing"
    ],
    "taxonomy_collection": "market-activity",
    "taxonomy_collection_label": "Market activity",
    "entity": {
      "type": "country",
      "geo": [
        "PT"
      ]
    },
    "methodology_url": "/about/methodology/housing-market-activity/",
    "methodology_label": "Housing Market Activity Methodology",
    "data_hash": "32ce5fb815a4f873f2903c4940f886da570791ae9c84b94fabc179c9f65dd630",
    "trend_summary": "The Portugal housing market activity indicator has shown significant growth since 2015, with notable phases of increase and stabilization. The index reached its lowest point in early 2015 at 37.0 and has steadily climbed to a peak of 157.6 in May 2026. The latest level is at the historical high, suggesting robust market activity. Recent momentum appears mixed, with a 6.2% increase over the past three months but a slight decline of 1.1% over six months, indicating some short-term variability. Yearly averages reveal a consistent upward trend from 2015 through 2025, with a slight dip in 2024.",
    "trend_summary_generated_at": "2026-07-15T09:27:36.744864+00:00",
    "key_findings": [
      "Portugal housing activity remains strong, indexed at 157.6 in May 2026, indicating robust demand versus 2019.",
      "Recent sideways movement suggests housing activity does not yet show a clear demand impulse.",
      "Read alongside Portugal Furniture Retail Market Size, the housing signal adds context to stable furniture demand in 2025."
    ],
    "key_findings_source": "ai_rewrite",
    "key_findings_generated_at": "2026-07-15T09:27:39.750405+00:00",
    "chart_alt_text": "Line chart for Portugal Housing Market Activity in index points. The series runs from 2015-01-01 to 2026-05-01; the latest value is 157.6 index points."
  },
  "data": [
    {
      "date": "2015-01-01",
      "geo": "PT",
      "value": 37.58
    },
    {
      "date": "2015-02-01",
      "geo": "PT",
      "value": 36.95
    },
    {
      "date": "2015-03-01",
      "geo": "PT",
      "value": 38.18
    },
    {
      "date": "2015-04-01",
      "geo": "PT",
      "value": 41.69
    },
    {
      "date": "2015-05-01",
      "geo": "PT",
      "value": 42.01
    },
    {
      "date": "2015-06-01",
      "geo": "PT",
      "value": 46.41
    },
    {
      "date": "2015-07-01",
      "geo": "PT",
      "value": 50.65
    },
    {
      "date": "2015-08-01",
      "geo": "PT",
      "value": 50.71
    },
    {
      "date": "2015-09-01",
      "geo": "PT",
      "value": 50.61
    },
    {
      "date": "2015-10-01",
      "geo": "PT",
      "value": 52.3
    },
    {
      "date": "2015-11-01",
      "geo": "PT",
      "value": 54.59
    },
    {
      "date": "2015-12-01",
      "geo": "PT",
      "value": 56.53
    },
    {
      "date": "2016-01-01",
      "geo": "PT",
      "value": 55.9
    },
    {
      "date": "2016-02-01",
      "geo": "PT",
      "value": 55.37
    },
    {
      "date": "2016-03-01",
      "geo": "PT",
      "value": 57.58
    },
    {
      "date": "2016-04-01",
      "geo": "PT",
      "value": 59.21
    },
    {
      "date": "2016-05-01",
      "geo": "PT",
      "value": 63.59
    },
    {
      "date": "2016-06-01",
      "geo": "PT",
      "value": 66.74
    },
    {
      "date": "2016-07-01",
      "geo": "PT",
      "value": 66.67
    },
    {
      "date": "2016-08-01",
      "geo": "PT",
      "value": 68.85
    },
    {
      "date": "2016-09-01",
      "geo": "PT",
      "value": 66.62
    },
    {
      "date": "2016-10-01",
      "geo": "PT",
      "value": 65.69
    },
    {
      "date": "2016-11-01",
      "geo": "PT",
      "value": 66.89
    },
    {
      "date": "2016-12-01",
      "geo": "PT",
      "value": 71.39
    },
    {
      "date": "2017-01-01",
      "geo": "PT",
      "value": 76.11
    },
    {
      "date": "2017-02-01",
      "geo": "PT",
      "value": 72.57
    },
    {
      "date": "2017-03-01",
      "geo": "PT",
      "value": 76.01
    },
    {
      "date": "2017-04-01",
      "geo": "PT",
      "value": 74.65
    },
    {
      "date": "2017-05-01",
      "geo": "PT",
      "value": 83.59
    },
    {
      "date": "2017-06-01",
      "geo": "PT",
      "value": 81.6
    },
    {
      "date": "2017-07-01",
      "geo": "PT",
      "value": 86.28
    },
    {
      "date": "2017-08-01",
      "geo": "PT",
      "value": 82.96
    },
    {
      "date": "2017-09-01",
      "geo": "PT",
      "value": 87.39
    },
    {
      "date": "2017-10-01",
      "geo": "PT",
      "value": 83.45
    },
    {
      "date": "2017-11-01",
      "geo": "PT",
      "value": 87.22
    },
    {
      "date": "2017-12-01",
      "geo": "PT",
      "value": 90.52
    },
    {
      "date": "2018-01-01",
      "geo": "PT",
      "value": 86.88
    },
    {
      "date": "2018-02-01",
      "geo": "PT",
      "value": 88.27
    },
    {
      "date": "2018-03-01",
      "geo": "PT",
      "value": 90.65
    },
    {
      "date": "2018-04-01",
      "geo": "PT",
      "value": 95.29
    },
    {
      "date": "2018-05-01",
      "geo": "PT",
      "value": 92.96
    },
    {
      "date": "2018-06-01",
      "geo": "PT",
      "value": 104.57
    },
    {
      "date": "2018-07-01",
      "geo": "PT",
      "value": 102.03
    },
    {
      "date": "2018-08-01",
      "geo": "PT",
      "value": 105.93
    },
    {
      "date": "2018-09-01",
      "geo": "PT",
      "value": 97.8
    },
    {
      "date": "2018-10-01",
      "geo": "PT",
      "value": 98.47
    },
    {
      "date": "2018-11-01",
      "geo": "PT",
      "value": 96.74
    },
    {
      "date": "2018-12-01",
      "geo": "PT",
      "value": 105.4
    },
    {
      "date": "2019-01-01",
      "geo": "PT",
      "value": 101.98
    },
    {
      "date": "2019-02-01",
      "geo": "PT",
      "value": 102.9
    },
    {
      "date": "2019-03-01",
      "geo": "PT",
      "value": 96.18
    },
    {
      "date": "2019-04-01",
      "geo": "PT",
      "value": 89.95
    },
    {
      "date": "2019-05-01",
      "geo": "PT",
      "value": 99.8
    },
    {
      "date": "2019-06-01",
      "geo": "PT",
      "value": 95.33
    },
    {
      "date": "2019-07-01",
      "geo": "PT",
      "value": 102.26
    },
    {
      "date": "2019-08-01",
      "geo": "PT",
      "value": 97.36
    },
    {
      "date": "2019-09-01",
      "geo": "PT",
      "value": 103.4
    },
    {
      "date": "2019-10-01",
      "geo": "PT",
      "value": 104.52
    },
    {
      "date": "2019-11-01",
      "geo": "PT",
      "value": 102.7
    },
    {
      "date": "2019-12-01",
      "geo": "PT",
      "value": 103.63
    },
    {
      "date": "2020-01-01",
      "geo": "PT",
      "value": 112.21
    },
    {
      "date": "2020-02-01",
      "geo": "PT",
      "value": 112.41
    },
    {
      "date": "2020-03-01",
      "geo": "PT",
      "value": 89.08
    },
    {
      "date": "2020-04-01",
      "geo": "PT",
      "value": 87.44
    },
    {
      "date": "2020-05-01",
      "geo": "PT",
      "value": 91.79
    },
    {
      "date": "2020-06-01",
      "geo": "PT",
      "value": 89.15
    },
    {
      "date": "2020-07-01",
      "geo": "PT",
      "value": 97.95
    },
    {
      "date": "2020-08-01",
      "geo": "PT",
      "value": 100.39
    },
    {
      "date": "2020-09-01",
      "geo": "PT",
      "value": 105.21
    },
    {
      "date": "2020-10-01",
      "geo": "PT",
      "value": 110.25
    },
    {
      "date": "2020-11-01",
      "geo": "PT",
      "value": 121.07
    },
    {
      "date": "2020-12-01",
      "geo": "PT",
      "value": 118.01
    },
    {
      "date": "2021-01-01",
      "geo": "PT",
      "value": 120.58
    },
    {
      "date": "2021-02-01",
      "geo": "PT",
      "value": 112.68
    },
    {
      "date": "2021-03-01",
      "geo": "PT",
      "value": 122.25
    },
    {
      "date": "2021-04-01",
      "geo": "PT",
      "value": 125.97
    },
    {
      "date": "2021-05-01",
      "geo": "PT",
      "value": 120.49
    },
    {
      "date": "2021-06-01",
      "geo": "PT",
      "value": 119.74
    },
    {
      "date": "2021-07-01",
      "geo": "PT",
      "value": 121.94
    },
    {
      "date": "2021-08-01",
      "geo": "PT",
      "value": 120.8
    },
    {
      "date": "2021-09-01",
      "geo": "PT",
      "value": 120.13
    },
    {
      "date": "2021-10-01",
      "geo": "PT",
      "value": 111.75
    },
    {
      "date": "2021-11-01",
      "geo": "PT",
      "value": 120.05
    },
    {
      "date": "2021-12-01",
      "geo": "PT",
      "value": 126.1
    },
    {
      "date": "2022-01-01",
      "geo": "PT",
      "value": 124.3
    },
    {
      "date": "2022-02-01",
      "geo": "PT",
      "value": 121.75
    },
    {
      "date": "2022-03-01",
      "geo": "PT",
      "value": 124.07
    },
    {
      "date": "2022-04-01",
      "geo": "PT",
      "value": 127.5
    },
    {
      "date": "2022-05-01",
      "geo": "PT",
      "value": 131.54
    },
    {
      "date": "2022-06-01",
      "geo": "PT",
      "value": 121.36
    },
    {
      "date": "2022-07-01",
      "geo": "PT",
      "value": 126.72
    },
    {
      "date": "2022-08-01",
      "geo": "PT",
      "value": 113.11
    },
    {
      "date": "2022-09-01",
      "geo": "PT",
      "value": 116.93
    },
    {
      "date": "2022-10-01",
      "geo": "PT",
      "value": 120.95
    },
    {
      "date": "2022-11-01",
      "geo": "PT",
      "value": 117.8
    },
    {
      "date": "2022-12-01",
      "geo": "PT",
      "value": 116.48
    },
    {
      "date": "2023-01-01",
      "geo": "PT",
      "value": 124.56
    },
    {
      "date": "2023-02-01",
      "geo": "PT",
      "value": 127.11
    },
    {
      "date": "2023-03-01",
      "geo": "PT",
      "value": 135.15
    },
    {
      "date": "2023-04-01",
      "geo": "PT",
      "value": 130.46
    },
    {
      "date": "2023-05-01",
      "geo": "PT",
      "value": 137.11
    },
    {
      "date": "2023-06-01",
      "geo": "PT",
      "value": 139.54
    },
    {
      "date": "2023-07-01",
      "geo": "PT",
      "value": 143.83
    },
    {
      "date": "2023-08-01",
      "geo": "PT",
      "value": 148.21
    },
    {
      "date": "2023-09-01",
      "geo": "PT",
      "value": 152.9
    },
    {
      "date": "2023-10-01",
      "geo": "PT",
      "value": 153.27
    },
    {
      "date": "2023-11-01",
      "geo": "PT",
      "value": 154.12
    },
    {
      "date": "2023-12-01",
      "geo": "PT",
      "value": 152.06
    },
    {
      "date": "2024-01-01",
      "geo": "PT",
      "value": 142.79
    },
    {
      "date": "2024-02-01",
      "geo": "PT",
      "value": 139.7
    },
    {
      "date": "2024-03-01",
      "geo": "PT",
      "value": 134.49
    },
    {
      "date": "2024-04-01",
      "geo": "PT",
      "value": 135.16
    },
    {
      "date": "2024-05-01",
      "geo": "PT",
      "value": 138.85
    },
    {
      "date": "2024-06-01",
      "geo": "PT",
      "value": 139.45
    },
    {
      "date": "2024-07-01",
      "geo": "PT",
      "value": 133.61
    },
    {
      "date": "2024-08-01",
      "geo": "PT",
      "value": 131.15
    },
    {
      "date": "2024-09-01",
      "geo": "PT",
      "value": 136.17
    },
    {
      "date": "2024-10-01",
      "geo": "PT",
      "value": 138.1
    },
    {
      "date": "2024-11-01",
      "geo": "PT",
      "value": 148.21
    },
    {
      "date": "2024-12-01",
      "geo": "PT",
      "value": 151.27
    },
    {
      "date": "2025-01-01",
      "geo": "PT",
      "value": 152.42
    },
    {
      "date": "2025-02-01",
      "geo": "PT",
      "value": 145.16
    },
    {
      "date": "2025-03-01",
      "geo": "PT",
      "value": 141.82
    },
    {
      "date": "2025-04-01",
      "geo": "PT",
      "value": 143.3
    },
    {
      "date": "2025-05-01",
      "geo": "PT",
      "value": 145.6
    },
    {
      "date": "2025-06-01",
      "geo": "PT",
      "value": 145.18
    },
    {
      "date": "2025-07-01",
      "geo": "PT",
      "value": 143.11
    },
    {
      "date": "2025-08-01",
      "geo": "PT",
      "value": 148.43
    },
    {
      "date": "2025-09-01",
      "geo": "PT",
      "value": 142.64
    },
    {
      "date": "2025-10-01",
      "geo": "PT",
      "value": 150.28
    },
    {
      "date": "2025-11-01",
      "geo": "PT",
      "value": 157.4
    },
    {
      "date": "2025-12-01",
      "geo": "PT",
      "value": 141.12
    },
    {
      "date": "2026-01-01",
      "geo": "PT",
      "value": 139.23
    },
    {
      "date": "2026-02-01",
      "geo": "PT",
      "value": 132.05
    },
    {
      "date": "2026-03-01",
      "geo": "PT",
      "value": 143.71
    },
    {
      "date": "2026-04-01",
      "geo": "PT",
      "value": 156.32
    },
    {
      "date": "2026-05-01",
      "geo": "PT",
      "value": 157.56
    }
  ]
}