Thinking of investing in property in Portugal? Then now is a great time to buy!
The real estate website Idealista has just released data from their Idealista Price List showing that house prices in Portugal are continuing to rise. Prices have increased by 4.5% during the second quarter of 2019, with all regions seeing the increase in prices.
Areas with the highest price increases were the Lisbon Metropolitan Area, which saw prices increase by 6.5%, followed by the Centre – 4%, the Algarve – 3.9%, the North – 3.8% and the Alentejo – 1.5%.
Considering price per square metre, Lisbon comes out tops at €4,516 per m2, Porto is €2,718 per m2 and Faro (Central Algarve) €1,841 per m2.
And not only have prices gone up but so has the number of properties sold – causing a supply and demand challenge.
According to the latest data from the Association of Professionals and Companies of Real Estate Mediation of Portugal (APEMIP), property sales in Portugal increased by 7.6