Price index

Even in the current context of uncertainty, high interest rates on bank loans and rising living costs, there is still interest in buying a house in Portugal.

The house-buying business is changing in 2023. At a time when it is more difficult and more expensive to pay off a mortgage and purchasing power continues to be squeezed by inflation, the number of houses sold in Portugal is falling and prices are tending to stabilise in our country.

The slowdown in the Portuguese property market "is proving to be less pronounced than expected, at least in terms of house prices", according to a study by CaixaBank Research, which has improved the country's growth forecasts for 2023.

The demand for housing in Portugal continues to grow and there are areas that, for various reasons, are attracting more interest from investors - both domestic and foreign.

House prices around the world are under pressure as central banks raise benchmark interest rates to try to curb inflation. But the truth is that house prices in 56 countries are rising at the slowest rate since 2015, as there is less pressure from demand on existing housing supply.

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%.

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).

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.

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

Renting an apartment in Lisbon is more expensive than it was a year ago, but the rise in prices is slowing down. In the second quarter of the year, rental prices in the Portuguese capital rose by 1.8% over the previous quarter and by 17% in counterpart terms.

Much has been said about the importance of foreign investment in the current dynamism of the real estate market in Portugal.

The price of houses is constantly rising in Portugal, with the increase in the national average being greater for used houses than new ones, despite the fact that new properties are also more expensive and are selling more and more.

The sale price of houses in Portugal rose by 14.2% in March 2018 in comparison with the same month in 2017. We have to go back 26 years to the first quarter of 1992 to find a record of price evolution higher than the current one: that year, the year-on-year price development was 16.1%. In this

Buying a house is becoming more and more expensive. Property prices in Portugal rose by 3.8% in the first three months of the year, compared with the last quarter of 2017, making the price 1,748 euro per square metre (m2), or 162 euro per square foot (sq ft), according to the idealista price index.

The real estate market is red-hot in Portugal. Never before have so many houses been sold – 153,292 in 2017, 26,186 more than the previous year (20.6%), and prices are in line with this trend.

Never before have so many houses been sold in Portugal, neither so many, nor at such a high price. In total, 153,292 houses were sold in 2017, 26,186 more (20.6%) than in 2016.