Portuguese Housing Market Survey

“Portugal’s stronger recent economic performance correlates with the early signs of improvement in property market dynamics. Indeed, after a prolonged period of difficulty, activity now looks to be picking up. Global economic conditions also seem to be improving to a certain extent, which should further support the picture in Portugal, with income growth and consumer spending expected”

“The latest Portuguese economic indicators show positive trends regarding growth, unemployment and inflation rates. At the same time, market participants foresee interest rates being cut during 2024, allowing demand to progressively recover and expectant buyers to decide about their investments. This potential movement is mentioned by some respondents, despite the lingering political uncertainty in Portugal. As stressed by several contributors, still, the main constraint on the market is the lack of affordable houses for sale, and any demand recovery is seen as a source for short term price acceleration.”