Property for sale in Portugal

The Lisbon region has increasingly attracted families to live, visit, and invest. This high demand has been reflected in house prices, as the housing supply has not kept pace with this growth.

More than half of the property investment in the Algarve region is from foreign sources, according to Engel & Völkers' Market Report Portugal.

Natura Village, a project consisting of 26 houses in Vilamoura, the Algarve, is in its final stages of construction and is expected to be completed in the first half of 2025.

Concerns about house prices (whether for renting or buying) are reaching record levels in the wealthiest countries, surpassing other issues such as health or education.

The purchase of homes in Portugal by foreigners fell in early 2024, coinciding with the end of the Non-Habitual Residents (NHR) regime on previous terms and the golden visa programme for real estate investment.

House prices in Portugal continue to increase, having grown by 6.5% over the past year, 2.5% over the past six months, and 2.9% over the past three months, according to the Knight Frank Global House Price Index. Portugal also ranks 14th in the index, ahead of countries such as France, Germany, Switzerland, and the USA.

Real estate continues to attract investors to Portugal. In the first quarter of 2024 alone, foreign direct investment in real estate amounted to 682 million euros, although this figure fell compared to the 853 million euros recorded in the final stretch of last year.

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,