Portugal ranked one of the world’s hottest property markets

12.02.18

More buyers are entering Portgual's already growing housing market, according to the latest figures.

In their latest report, RICS and Confidencial Imobiliário forecast the home prices for the major cities in Portugal are set to go up by at least 5% over the next 12 months, up from the 4% forecast in September.

The growth is described as ‘sustainable’, as prices are to see an annual increase of 6% over the next five years. These price gains are expected to be the highest in Oporto, the second-largest city in Portugal.

In addition to this, credit rating agency DBRS said in its latest report that Portugal was among the EU nations that have reported the ‘most notable improvements’ in property prices since the economic slowdown a decade ago. Growth in Portugal was placed at 10%, and was only behind that of Ireland, where prices had climbed by 12%.

Portugal was also among ranked number 2 among the world’s hottest housing market in a Fitch forecast also. Three other nations that tied with Portugal for the second place position were Canada, Germany, The Netherlands, and Portugal — each with 5% projected gains.

“The residential market is benefiting from an increase in new lending activity,” says Ricardo Guimarães, director of Confidencial Imobiliário. “This is allowing prices to come back to pre-crises levels. The residential price index is now less than 1% below the maximum observed in 2010,”

A stronger economy compared to other European Union countries is also being cited as a reason for the increased housing activity in the country.

“Consumers have seen real incomes increase as inflation remains subdued and the unemployment rate at near decade lows. After years of deleveraging, households have been able to increase spending, helping to underpin the recent strength in the housing market,” adds RICS chief economist, Simon Rubinsohn.

Abode Affiliates

  • Alleyne Real Estate
  • Blevins Franks
  • Coldwell Banker
  • Crane Resorts
  • Dost & Co
  • The Hideaways Club
  • Monaco Real Estates
  • RDO
  • Rosemont Consulting
  • St Francis Links
  • Unique Home Stays
  • Yoo
  • Worldwide Dream Villas
  • Cyan International Properties
  • Enigma Yachts Limited
  • Cornerstone Tax Advisors
  • Lida Cucina
  • Pedini London
  • Alexander James
  • Wings
  • Moore Stephen
  • Ibiza Transit Express
  • Oyster Yachts
  • Destinology
  • Jumeirah
  • Knight Frank
  • Wall Street Luxury
  • Heron Real Estate
  • Edenhurst
  • MG&AG
  • Gama Property
  • Touch Design Group
  • CID
  • St Edward
  • Ultra Villa
  • Luxury Italian Living
  • Habitat First Group
  • BDO
  • 7Storeys
  • Smart Currency Exchange
  • Strutt and Parker
  • Prestige Architects
  • Worldwide Property
  • Panorama
  • Dimora
  • Dominic McKenzie Architects
  • The Coastal House
  • Chamonix Ski Chalet
  • Luxe Caribbean Properties
  • Harry Manning
  • Smart Living
  • Isle Blue
  • MAS Marbella
  • London Fractions
  • QTD
  • Page Architects
  • Millgate
  • Jersey Finance
  • guernsey-relocations-logo
  • viberts-logo
  • b-williams-management
  • kpmg-logo
  • author-interiors
  • Wilkinson Beven
  • BoConcept
  • Ante Vrban
  • Experience Invest
  • Move 2 Gozo
  • Deborah Garth
  • Extex
  • You home
  • Ra Shaw Designs
  • Sarason TV
  • Caudwell Collection

Enter your dream destination