Portuguese Housing Market Survey

“The latest results from Confidencial Imobiliário’s House Price Index presents a price increase of 2.2% in the 1st quarter of 2024 (0.6 pp above the previous quarter). Prices reflect a potential recovery with a registered 4.4% quarterly growth for transactions. These figures give context to the market at present with players starting to consolidate a positive view for the near future with respect to both demand and prices. Despite that, the same clouds remain with the structural lack of affordable housing proving to be an ongoing issue. The new Government program seems to bring some positive expectations that still need to be confirmed in new laws.”

“Improving economic conditions in Portugal are being reflected in a slightly more optimistic tone to forward-looking sentiment across property markets. The prospect of falling interest rates across the Eurozone, as well as stronger income growth and consumer spending trends domestically, should continue to boost confidence within the Portuguese housing market over the coming months.”