How much have house prices in Portugal increased in 2022?
In 2022, house prices in Portugal have risen impressively, with a noteworthy increase of 13.2% in the second quarter alone. This remarkable growth exceeds the average increase of 9.9% across the EU, highlighting Portugal's unique position as a rising star in the real estate sector. Such substantial price hikes reflect the heightened demand from both domestic and international buyers looking to invest in this beautiful country. Areas rich in culture, with stunning coastline and vibrant lifestyle offerings, have become particularly sought after. Notably, cities like Lisbon and Porto are attracting significant interest, showcasing diverse properties ranging from historic buildings to modern developments. This trend suggests a strong potential for rental income, making it an attractive option for investors. As buyers take a keen interest in the market, understanding the driving factors behind this increase is crucial. Additionally, with the ongoing boom in tourism, properties here can offer a lucrative return on investment. If you are contemplating purchasing your next property, now is a critical time to act. Don't miss out on the chance to explore the booming Spanish property market—contact us today for more insights!
Prices rose 13.2% in the second quarter of this year, +3.3% on the aggregate average of all the other EU countries.
According to data from Eurostat published on Friday (today), house prices increased 9.9% in the EU space and 9.3% in the Euro Zone in like-for-like terms.
Compared with the previous quarter, the prices of homes rose 2.3% in both the EU and Euro Zone, but in Portugal they rose 3.1% on the first three months of the year.
But although Portugal is seeing the most significant increase in the speed at which homes are increasing in price compared to the rest of Europe in average terms, three countries suffered greater increases: Estonia (+27.4%), Czech Republic (+23.1%) and Hungary (+22.8%).
