It comes after the country registered the second highest rise in property prices of the 27 EU member states.
According to Eurostat’s House Price Index the value of houses on the Portuguese market has shown annual variations above 6 percent for five consecutive years, which the European Commission considers a market at risk of a price bubble.
Last year, in the midst of the pandemic, Portugal’s house price index increased by 7.4 percent, the fourth largest increase recorded in Portugal in the last ten years.
Wait for December
By Syed Ghayyor from Lisbon on 18 Aug 2021, 17:57
There is a straight forward explanation for the increase though:
1. The NHR scheme aimed at attracting people into Portugal who then buy property (that's why I'm here )
2. The Golden Visa scheme....see above.
3. The fact that Portugal rates at the top of the list of countries to work remotely in and to retire to, in international surveys.
As long as those things don't go away, which is unlikely in the short to medium term, then there should be nothing to worry about.
By BD Condell from Algarve on 18 Aug 2021, 19:31
Inflation is here and for most people property is the best and safest protection against inflation over the long term.
So don't fall for these headlines.
By James from Algarve on 18 Aug 2021, 21:45
As reporter states this is true,as long as this concept of investment is open nothing will drop.I would like to see Portugal Government open more access to the middle class of other countries to invest in a smaller amount stepped over a 10 year period to get citizenship to Portugal.
By Aslam from Other on 19 Aug 2021, 06:41
Golden visa is ending soon. NRH has changed and is of lesser interest and cosy of living in places like Lisbonne, Porto, Algarve is as expensive if not more than in cotise like Lyon, Bordeaux or Rennes and cosy of living in the countriside is sale as in grenache countryside such as Dordogne or Aude, Gers etc…
Finally lots of people have bot and wanted to pay loans with airbnb which is now dead.
All above are ingredients for a serious price correction!
By Christian Bulliard from Lisbon on 19 Aug 2021, 09:33
The Portuguese real estate market just recently hit the bottom during the Euro crisis that affected mostly the southern countries economies, so it's normal that recovery follows with above average growth. With the present ECB policy of issuing money, interest rates low, higher inflation and low unemployment I expected the Portuguese market to grow at least close to the EU average.
By André from Alentejo on 19 Aug 2021, 23:49
People forget that 87% of luxury housing in Portugal is sold to the Portuguese! I’m sick of how much people focus and blame foreigners… Portugal experienced economic growth, political stability, rising wages and a load of companies moving there. Lots of tech and finance businesses there/ people are highly educated and speak English. However bosses make a lot of money thanks to the still quite low wages so they enrich quite quickly! Most of houses are sold to portuense and if more foreign investment is happening it’s nowhere near a bubble!
By Pedro Rema from UK on 22 Aug 2021, 23:19
First of all, it is LISBOA. Not Lisbonne, Lisbon or "Le sabon" and PORTO is not Oporto! You DONT TRANSLATE BOSTON OR WASHINGTON right? Second, I am 40 years old, make a minimum wage, 650 month, a ROOM to rent ( not a house) is like 400, so I am stuck at my parents EVEN with a job. Banks do not loan or let me or my generation use credit, because the generation before used it ALL, and that is the SAME generation that dictates and risen the prices. I am ASHAMED to be Portuguese, will gather money to leave one day and never come back.
By Pedro from Lisbon on 24 Aug 2021, 19:24
The Government only thinks of foreigners not their own people. Shame
By Me from Lisbon on 25 Aug 2021, 12:11
The bubble is there and everyware.
A good investment is when you buy low...
The biggest Crash of all time is coming, but isn't going to start in real state...
By António from Lisbon on 17 Oct 2021, 04:54