Buying a house in Lisbon is more difficult than in any other city in Portugal and Spain. This is the main conclusion of the Century 21 Portugal study, which indicates that the effort rate to acquire a home in Lisbon is 67%, the highest in the Iberian Peninsula.
"Portugal's reputation as a safe country to invest in may be compromised, given the continuous legislative and fiscal instability that impacts the real estate market".
Without having managed to give an effective answer to the housing crisis, which for several reasons has been worsening in Portugal in recent years, Portuguese Prime Minister António Costa has now decided to present a new plan of attack, called "Mais Habitação", which literally means "more housing".
For foreigners, Portugal continues to be a destination of choice to buy or rent a house. The mild climate, quality of life, safety and leisure activities that the country appeals to those who are choosing the country as their new home.
The global macroeconomic context has changed and the effects on the housing market in Portugal and across the world are increasingly evident. But will house prices drop in Portugal?
2022 was marked by inflation which further pushed up house prices in Portugal. In addition, building a house became more expensive and access to mortgages more difficult, since interest rates have also jumped.
How are things looking in the real estate market in Portugal for 2023? Despite the geopolitical and macroeconomic context, 2022 presented itself as a dynamic (and memorable) year for the real estate market in Portugal and beyond.