Property market statistics

Inflation is contaminating all markets - and real estate is no exception. Data from the National Statistics Institute (INE) show proof, stating that houses were 13.2% more expensive in the first quarter of 2022 compared to the previous year.

Having a property by the beach is, increasingly, the decision of those who decide to buy a property in Portugal, both for Portuguese families and foreign investors.

When searching for a holiday home in Portugal, many expats will be in search of buying a property with a pool.

Will house prices go down in Portugal? This isn't looking likely, as the current economic context is putting pressure on the purchasing power of those living in Portugal. Inflation jumped 8.7% in June and interest rates on mortgages are rising with the steep rise in Euribor.

The demand for property is on the rise in Portugal, even with inflation and rising house prices. And this is reflected in the time that the houses are on the market: about 14% of the houses bought at the start of 2022 through idealista were on the market for less than a week.

Buying a house in Portugal is becoming more and more expensive. In parallel, many houses continue to be sold in the country.

In Portugal, things tend to cool down during autumn and winter. However, in the case of the Portuguese rental market, things really started to heat up at the end of 2021. The cost of renting a property in Portugal saw notable increases, while the number of new rental contracts signed also went up.

Despite the current uncertainty about the real impact that the war in Ukraine will have on the economy, Cushman & Wakefield predicts a continued recovery of the real estate market in Portugal in 2022.

The "appetite" for acquiring land and development assets in Portugal is growing and approaching pre-Covid levels, including both national and international players, projects in various segments and with various scales, "based on a high demand from end users".

Portuguese real estate is "lively", even in times of pandemic. That is according to Frederico Abecassis, CEO of Coldwell Banker Portugal. Domestic demand has contributed to the strength of the market, but so have foreign families who want to come to live in Portugal.