House prices in Portugal

Foreign demand continues to grow in Portugal, even in spite of the COVID-19 pandemic that is sweeping the world.

With 2020 coming to a close, it's time to have a look at some of the main statistics when it comes to house prices in Portugal for 2020, as well as some predictions from the European Commission in Brussels for 2021. After the surge in property prices throughout Portugal in recent years, h

In spite of the coronavirus pandemic that has seen house prices drop in many countries, the cost per square metre of housing in Portugal continues to rise, although the pandemic is putting a brake on the pace of growth.

In the second quarter of 2020, marked by several confinement measures and restrictions because of the pandemic in most Member States, house prices increased by 5% in the eurozone and 5.2% in the European Union (EU) compared to the same period last year.

After rising by 1.6% and 0.5% in the first and second quarters of 2020 respectively, compared to previous quarters, house prices in Portugal continue to rise during the COVID-19 pandemic: prices rose by 1% between July and September compared to the previous three months, to 2,090 euros/m2.

Prices for luxury homes in Lisbon have gone up by 98% in the last decade between 2010 and 2020.

Buying a house in the most expensive street in Portugal in 2020 costs, on average, 2,743,000 euros, slightly lower than last year's average price for a luxury home on Portugal's most expensive streets.

Whether you’re looking for a rural property in the countryside, a villa close to the beach or a chic city apartment, there are properties in Portugal for every budget.

In April, banks in Portugal once again increased the value of the valuations carried out in the field of housing credit and mortgages.

House prices are expected to fall in almost all major European markets this year due to the economic effects of the COVID-19 pandemic, according to findings by economists at Standard & Poor's (S&P) Global Ratings.

Rental market prices, namely in Portugal's capital Lisbon, have skyrocketed in the last few years, as has been in the case for the purchase and sale of property in the city.

House prices in Portugal rose 1.6% in the first quarter of 2020 compared to the previous quarter, standing at 2,060 euros per m2. In annual terms, i.e. compared to the first three months of last year, the increase was 11.4%.

Buying a property in Portugal costs, on average, 1,031 euros/m2, according to data from the Portuguese National Institute of Statistics (INE). Even so, there are towns where prices exceed 2,000 euros/m2 (Cascais, Oeiras and Loulé).

Cascais, Lisbon and the Algarve are home to the most expensive streets to buy a property in Portugal, at a time when real estate prices are (still) rising. The most expensive and exclusive address is in Aldeamento Vilar do Golf, in Quinta do Lago, Algarve.

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%.

178,691 homes were sold in Portugal in 2018, 16.6% more than the previous year. This is the highest figure in the last 10 years, since 2009, according to the National Institute of Statistics (INE).

House prices in Portugal continue to rise, albeit at a slower pace.

Portugal was voted the world's most gay friendly destination (alongside Sweden and Canada), according to the Spartacus International Gay Guide Index 2019.

After the euphoria of recent years, house prices in Portugal are levelling off, heading towards stabilisation. While Portuguese property prices are still rising, they are doing so at a slower rate.

Time marches on and prices go up. This includes house prices in Portugal, which are getting higher and higher.

The sale price of houses in luxury resorts in Portugal increased 18% in the second half of 2018, compared with the same period of the previous year and 8% in comparison with the previous six months.

House prices in Portugal will continue to rise, albeit at a slower pace than in recent years, following the general trend in Europe, according to forecasts by Standard & Poor's (S&P).

House prices have gone up enormously in Portugal recently, but this doesn’t mean that properties are on the market longer before being sold.

In the third quarter of 2018, house prices in Portugal rose 15.6% compared to the same period of the previous year.

Foreign investment in Portuguese properties has perked up, helping the recovery of the Portuguese real estate sector in recent years.