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Where have house prices in Portugal risen most?

House prices in Portugal rose 4.3% in January compared to the same month in 2024. Housing also became more expensive in the last year in Santarém (15.4%), Setúbal (14.5%), Leiria (12.3%), Ponta Delgada (10.6%), Bragança (10.2%), Viseu (8.6%), Funchal (8.6%), Coimbra (8%), Guarda (7.6%), Braga (7%), Faro (4.7%), Porto (3.2 %), Castelo Branco (3.1%), Portalegre (3.1%) and Viana do Castelo (1.5%).

“Steadiness and stability” in Portuguese property market

Further improvements in disposable incomes in tandem with the prospect of falling interest rates across the Eurozone should further facilitate activity within the real estate industry over the remainder of the year and particularly through 2025.

Foreigners invest €682 million in real estate

Real estate continues to attract investors to Portugal. In the first quarter of 2024 alone, foreign direct investment in real estate was 682 million euros, but this figure fell compared to the 853 million euros recorded in the final stretch of last year.

Rental prices at 4 year high in Portugal

The price of homes to rent in Portugal accelerated by 11.6% at the end of 2023, the highest year-on-year variation since 2020, according to INE.

Real estate responsible for half of foreign investment

Of the total FDI transactions in Portugal last year, more than half (3,900 million euros) were related to real estate investment (22% more than in 2022). In 2023 foreign direct investment in real estate reached the highest value since the beginning of the Banco de Portugal series (2008).

Rental prices rose 5.9% per m2 in Portugal in January 2024

The most recent data from the National Statistics Institute in Portugal (INE) confirms that, in the case of rentals, the amount charged by landlords to tenants has skyrocketed, with rent increasing by 5.9% per square metre (m2) year-on-year in January 2024.