Housing prices in Portugal have increased in the last decade. In nine years, they have increased by 16.6%, above the average of 3.3% in the eurozone and above the world average of 15.4%. Portugal ranks seventh in the list of euro countries where these figures have increased most since 2010, according to data from the International Bank for Payments (BIP).
After the great international recession, Portugal registered a subsequent recovery, compared to the more advanced economies. Even so, and after the real estate market having entered at "cruising speed", it has managed to maintain one of the highest growth rates. Only Estonia (+ 58.7%), Latvia (+ 45.5%), Austria (+ 38.3%), Germany (+ 30.7%), Lithuania (+ 29.9%) and Ireland (+18 , 8%) are in the lead, and in these countries the market is even "warmer".
Portugal has distanced itself from the "neighbours" of the south, such as Italy or Greece, countries that are still working to combat the drop in prices. Below the average for the Eurozone are the Netherlands, Slovenia, France and Finland. According to GDP data, cited by the economy magazine Dinheiro Vivo, since the end of 2016 Portugal has maintained a trajectory of faster price increases than Germany, one of the countries where housing prices have skyrocketed the most.
Recent data from the National Statistics Institute (INE) published in July, show that the average price of housing in Portugal continues to rise, but at a more moderate pace.
The average value of homes increased by 21.8% in three years nationwide, from 830 euros / m2 in the first quarter of 2016 to 1,011 euros / m2 in the first three months of this year. Experts confirm this scenario, believing that in 2019 housing prices will assume a stabilising trend.