The price of property in Portugal has risen by more than 15% during September according to the newly released Confidencial Imobiliário Residential Price Index.

Confidencial Imobiliário tracks changes in prices within the real estate market in Portugal and the latest report by the company has found that prices have risen by some 1.3% in monthly terms, demonstrating the continued strength of the Portuguese property sector. So far, the price of property in Portugal has risen by 10% each month since July 2017. 

The report stated that “this year, valuations were always higher than 13.5%, reaching a maximum of 16.4% in May and remaining at around 15% since then”.

According to The Portugal News: “The cycle of housing price recovery began five years ago in the last quarter of 2013 but, for about two years, year-on-year increases remained below 3%. 

Only in 2016 did the recovery began to accelerate, with prices rising by 3.5% to 9% by the middle of last year and significantly increasing the pace of growth since then, with year-on-year variations always in double-digits.

This cycle of successive increases has led to prices being 10.6% above the pre-crisis period (2007) and having recovered 41.4% from their lowest level (seen in June 2013).”

Areas of Portugal that have seen the highest price increases include the Algarve and Lisbon, with both areas seeing property valuations boom thanks in part to a limited supply of property available on the market and increased interest in both areas by foreign investors.

For further information about the property market in Portugal please visit our offices or contact us directly to discuss market trends and to arrange for a valuation of your Portuguese property.

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