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Portugal Real Estate Market

Comprehensive Market Statistics & Insights 2024

€9.05B
Q3 2024 Sales Value
41,000
Transactions
€1,644/m²
Median Price
+28%
YoY Growth

Market Overview

Record-breaking performance across all sectors

📊
€9.05B
Q3 2024 Sales Value
Record quarterly performance
↑ 28% YoY
🏠
41,000
Q3 Transactions
Strong market activity
↑ 19.4% YoY
💰
€23.7B
9M 2024 Volume
First nine months total
↑ 13.5% YoY
📈
+10.1%
Price Growth
Average dwelling price increase
Above median growth

Price Trends & Analysis

Tracking market valuations across Portugal

Current Market Prices

€1,644/m²
Q1 2024 Median
+5.0%
YoY Growth
+112%
Growth 2014-2023
+46%
Income Growth

Regional Markets

Performance across key Portuguese regions

☀️
Algarve
Price Growth +10.1%
Market Driver Tourism
Status Hottest Market
🏛️
Lisbon
Rental Yield 5.65%
Office Rent €29/m²/month
EU Ranking Top 6
🍷
Porto
Office Rent €21/m²/month
Market Activity +18% H2/H1
Vacancy Low

Rental Market & Investment

Yields and investment opportunities

🏢
4.96%
Apartment Yields Q4 2024
Down from 5.65% in Q4 2023
Competitive by EU standards
💼
4.75%
Prime Office Yields
Stable throughout 2024
🌍
€13.2B
Foreign Investment
FDI in Portuguese real estate
↑ 18.9% in 2024
📊
4.57%
Q2 2025 Yields
Reflecting rising prices

Mortgage Market

Current rates and lending conditions

2024 Mortgage Rates

Variable Rate
3.5%
March 2024 average
Fixed Rate
4.0%
March 2024 average
Q1 Average
3.98%
Start of year
Q2 Average
3.80%
ECB adjustments

Construction & Development

Building momentum across the nation

🏗️
+20.4%
New Construction Permits
Q3 2024 growth
↑ Strong momentum
🔨
+15.9%
Renovation Permits
Q3 2024 increase
↑ Urban renewal
📋
+7.6%
Total Permits 2024
Annual increase vs 2023

Housing Affordability Challenge

Portugal faces its most severe housing affordability crisis since 1995

157.7
Affordability Index
36%
Worse than OECD
50%
Above Eurozone

Government Response

Major initiatives to address housing challenges

Public Housing Initiative

September 2024

€2B
Total Investment
33,000
Affordable Homes by 2030
10,000
Fully Financed Units

Land-Use Reform

January 2025

€4B
Housing Fund
59,000
Low-Income Homes
70%
For Affordable Housing

Common Questions

Essential information about Portugal's real estate market

The market is driven by several factors including tourism growth, foreign investment (particularly from American buyers), and digital nomad influx. The residential sector alone is projected to reach $1.21 trillion in 2024.
Recent changes include the discontinuation of the Golden Visa program and modifications to the Non-Habitual Resident (NHR) regime. These changes aim to balance foreign investment with local housing needs.
Lisbon remains the primary investment hub, especially for luxury properties. Porto attracts retirees and second-home buyers, while Madeira is gaining popularity among remote workers and digital nomads.
The primary challenges include housing affordability issues for locals and migrants, rising property prices, and adapting to new regulatory frameworks. This has led to some overcrowding and accessibility concerns in major urban areas.

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