Portugal continues to attract strong interest from property buyers in the United Kingdom and the United States. Even after the end of the golden visa programme and tighter rules for non-habitual residents, both countries remain key sources of international buyers.
Interest from international buyers in Portuguese property remains strong, despite the end of the golden visa programme, tighter rules for non-habitual residents, and changes to the foreigners’ law.
Avelino Oliveira, president of the Order of Architects, stresses the urgent need to boost public housing supply across Portugal.The country’s Recovery and Resilience Plan (PRR) aims to build 59,000 new homes by 2030.
In Portugal, there is a shortage of properties available on the housing market to meet existing demand, especially at affordable prices.
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
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.
Buying a house in Portugal is getting more and more expensive.
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.
There is a shortage of houses to rent in the residential market in Portugal, with demand outweighing the number of properties on offer.
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.
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.
The luxury real estate market proved resilient during the pandemic, and so it should continue.
When you think of the real estate sector you probably think of houses and apartments, but this important sector of the economy does not only comprise the residential segment.
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