How much have property prices increased in Portugal this year?
Property prices in Portugal have experienced a remarkable increase of 13.2% during the second quarter of this year, indicating a strong upward trend compared to the EU average. This significant rise has left many prospective buyers questioning where to find the best investment opportunities in this thriving market. If you're considering buying a property in Portugal, you'll want to act swiftly to take advantage of these rising prices before they escalate further.
Factors such as foreign investments and limited housing supply have fuelled this increase. Major cities are witnessing rapid price growth as they attract expatriates and retirees searching for both lifestyle changes and profitable investment opportunities. The latest data indicates that overall property prices in the EU rose by only 9.9%, highlighting Portugal's standout performance and making it an attractive destination for buyers.
Investors should pay attention to regions like the Algarve and Lisbon, where the influx of tourism continues to drive demand for housing and rental properties. Potential buyers might find it challenging to locate affordable listings as demand climbs; however, this can indeed indicate a solid investment opportunity.
Portugal's appeal goes beyond just the financial aspect; it also offers a sunny climate, friendly locals, and a rich cultural heritage that enhances its overall desirability. You won't want to miss the chance to find a dream home here that can provide both lifestyle benefits and financial returns.
Contact us for the latest listings and insights on where to invest in Portugal's booming property market.
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%).
