The prices of the houses in Portugal have been growing substantially in the last years and that’s no secret to anyone.
Now, with the data relating to 2018 coming out, we can say for sure that, besides the prices of the houses, also the number of sales in real estate has increased. Last year alone, were sold approximately 180 thousand houses in Portugal, about 500 properties a day.
The highest rise in property valuation is felt in Lisbon and Oporto’s metropolitan areas. In total, the house prices in Portugal registered an increase of 15,6% in September, in comparison with the same period of the previous year.
In Lisbon’s metropolitan area, the prices have gone up 10 to 25% depending on the municipality, only slowing down in the last trimester of 2018. With the increasing dispersion of the investment to the second crown of Lisbon, these municipalities continue to rise, with Odivelas being the one that valued the most.
Oporto’s metropolitan area also suffered from a great valuation in 2018. Being considerably below Lisbon in the last two years, Oporto is now the Portuguese market that most has grown lately, accompanied by a rise in the housing prices.
Although in the short term the tendency is to slow down, Lisbon, Cascais and Oeiras are the markets where the prices are higher.
Despite a large percentage of the houses being sold to foreigners, approximately 20%, the sales from the internal market have increased substantially, when comparing to the previous year.
To sum up, we can say that the real estate market in Portugal will continue to rise, with a huge number of properties being sold each day, and with more and more Portuguese wanting to invest in their country.