Article: Do remodellings increase the value of houses? Prices rise up to 30% after renovations, published by Idealista.

Portugal needs to increase the supply of ready-to-move-in homes in order to deal with the housing crisis that is currently plaguing the country. And this increase in demand can be achieved by building new homes, but also by renovating second-hand homes. House remodelling can be a good bet for those who want to sell their property, as it increases the sale price – a lot.

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The construction of new homes – by the government and by private individuals – is an ongoing strategy to increase the available housing stock in Portugal. But we also need to look at the old houses that could house thousands of families if they were rehabilitated. Not least because more than half of the country’s existing housing is 30 years old or more, according to data from the 2021 Census.

The rehabilitation of houses will thus help to increase the supply of homes in the country, supporting the resolution of the housing crisis that has lasted generations, and is a commitment of the current government and local councils.

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The truth is that investing savings in home renovation can turn out to be a good deal for those thinking of selling a property, as it can be put up for sale at a much higher price. According to data from idealista/data for the third quarter of 2024, a complete refurbishment of a two-bedroom apartament in poor condition can increase the sale value by an average of 30%.

Of course, the value of a house in Portugal after a total remodelling will depend on various factors, such as location and number of divisions. While renovating a one-bedroom apartment can increase the house’s sale value by an average of 26.3%, renovating a three-bedroom apartment can increase the house’s value by 25%. In the case of a four-bedroom apartament (or higher), the house can be put up for sale at a price 20% higher than if no work had been carried out on the house.

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In the district of Porto, remodelling a two-bedroom apartament can increase the house’s sale price by 29.4%. Thus, a house costing 200,000 euros can be put on the market for 259,000 euros after the work has been carried out.

Read the full article: “Prices rise by up to 30% after renovations”