Property for sale in Portugal

Difficulties in accessing housing in Portugal and Spain will continue to exist in the short term. This is because, according to Fitch estimates, increases in family income should be “practically equal” to the expected evolution of house prices for 2024 and 2025. In Portugal, the cost of housing could grow by up to 6% per year.

Access to housing remains difficult in Portugal. And in this context, some people are looking for cheaper homes in cities or towns far from the big urban centres, in order to make house prices compatible with family budgets.

The purchase of houses in Portugal has been cooling down, given the high costs of housing, along with high interest rates on loans and low purchasing power, which continue to be felt. And this cooling in demand for houses in the country has been reflected in prices. The National Statistics Institute (INE) reveals this Tuesday, April 23rd, that the set of homes sold in the final stretch of 2023 had a median cost of 1,619 euros per square meter (euros/m2), a value of 7, 9% higher compared to the same period last year. But compared to the previous quarter, house prices in Portugal fell 1.3%, a trend felt in 14 of the 24 most populous municipalities, Lisbon and Porto included.

“Housing prices continued to increase significantly in Portugal, in contrast to most other EU countries”, warns the European Commission in a recent in-depth analysis report on the country's policies. Although growth has slowed, prices “remain overvalued”.

3D printed houses are already a reality in some locations across the world, and now they promise to revolutionise the construction sector in Portugal. Several companies are already using 3D technology to build houses and one of them is Litehaus which was founded in 2024.

The historic center of Porto will soon have “a new gastronomic and cultural center”. This is Time Out Market Porto, located at the São Bento train station, which will bring together 14 restaurants, two bars and even cultural experiences. It will open to the public in May 2024.

The Portuguese government has confirmed that it will revoke the measures of the country's Mais Habitação (More Housing) programme that it considers "wrong", including forced rentals, rent freezes and "penalising measures" for local accommodation. The Programme of the XXIV Constitutional Government,

Portugal continues to be an attractive country to live in, as well as invest in, despite the uncertain economic and political context. But the lack of homes for sale is a structural problem with no end in sight, as new home construction is not keeping up with demand in the country.