House prices continue to rise faster than wages in most of the 38 countries of the Organisation for Economic Cooperation and Development (OECD). And Portugal comes in fifth place on this list, with house prices surpassing salaries by almost 40%.
The real estate market proved its resilience during the pandemic, and should continue to remain dynamic and evolve positively, according to industry experts. For Jorge Bota, Partner at B.
A rise in interest rates on mortgages is a scenario that is on the table, and the European Central Bank (ECB) has already admitted the possibility of increasing the key interest rate in 2022.
Building a house is, for many, a life-long aspiration. Due to the pandemic, more families are now looking to swap city flats for villas in the suburbs and settle down with more space and peace of mind.
The "appetite" for acquiring land and development assets in Portugal is growing and approaching pre-Covid levels, including both national and international players, projects in various segments and with various scales, "based on a high demand from end users".
Portuguese real estate is "lively", even in times of pandemic. That is according to Frederico Abecassis, CEO of Coldwell Banker Portugal. Domestic demand has contributed to the strength of the market, but so have foreign families who want to come to live in Portugal.