We have presented a world pandemic, the beginning of war & we will possibly see a global economic recession but we do not foresee a drop on the real estate market.
According to studies carried by Eurostat data - here, house prices in Portugal went up to 70% continuously between 2010 to the first quarter of 2022.
As shown in the Eurostat chart below, Portugal sits in the middle of the table but above the European average with an increase of 45% house prices since 2010. Estonia shows the biggest increases of almost 180% increase on the house prices, while countries like Greece, Italy and Cyprus saw price declines over the past decade.
When comparing the house prices of the first quarter of the past year of 2021 to 2022 we see that prices continue to rise. In Portugal territory, the house prices increased by 12.9%, above the European average of 10.5%.
At Your Property Advisor, we have presented a world pandemic, the beginning of war & we will possibly see a global economic recession but we do not foresee a huge recession in Portugal neither a drop on the house prices. We might see some market corrections but we do estimate prices to continue to grow up on the future years.
Portugal is a safe place to invest. Security, tax incentives, quality of life, people & schools are some of the many reasons for people to invest in this country.
If you are interested or have started to look into the Real Estate market in Portugal, make sure you hire Your Property Advisor to give you the right & candid information about the market & each property and to work hard to negotiate the best deals for you.