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Comprehensive Market Statistics & Insights 2024–2025
Record-breaking performance with clearer 2024 totals
Tracking market valuations across Portugal
Performance across key Portuguese regions
Yields, foreign capital and investor appetite
Current rates and lending conditions
Building momentum across the nation
Portugal faces its most severe housing affordability crisis since 1995
Major initiatives to address housing challenges
September 2024
January 2025
National median housing prices from the pre-crisis peak to today’s supply-driven highs.
Market peak before the global financial crisis, driven by easy credit and early foreign demand.
Around -33% from the 2008 high, reflecting austerity, weak credit conditions, and slow domestic demand.
Strong rebound powered by tourism, short-term rentals, Golden Visa investors, and urban regeneration in major cities.
+112% versus 2014 as demand outpaces new supply and affordability starts to bite, especially in Lisbon and Porto.
Prices expected to grow more slowly (~5%) as higher rates cool demand, but structural supply gaps keep values elevated.
National medians shown; local markets such as Lisbon, Porto and the Algarve can sit significantly above these levels.
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How international demand peaked during the Golden Visa boom and settled into a smaller, more selective share of the market.
Portugal begins attracting international buyers, but foreign purchases are still a small share of total transactions.
Golden Visa, tourism, and short-term rentals push foreign participation to roughly a quarter of all residential sales.
Despite COVID, lifestyle buyers and remote workers keep cross-border demand strong, especially in Lisbon, Porto and Algarve.
After the 2023 Golden Visa reform, foreign buyers account for about 6–7% of deals — still meaningful, but no longer the main market driver.
Many higher-ticket buyers now look at fund-based Golden Visa alternatives or long-term relocation rather than pure speculation.
A slower, more balanced phase: rates remain elevated, but domestic demand and constrained supply keep Portugal’s housing market on a modest growth path.
| Driver | Outlook | Signal |
|---|---|---|
| ECB interest rates | Hold or gradual cuts | Mild easing |
| Domestic demand | Stable, supported by jobs | Resilient |
| Foreign capital & FDI | Stable, shifting to funds | Rebalanced |
| Main risk | Youth affordability & low supply | Pressure |
Mortgage costs should edge down slightly if the ECB cuts, but remain well above the ultra-low 2015–2021 period.
Continued inward migration, digital workers and returning Portuguese keep underlying demand stronger than new supply.
Slow delivery of public housing, tougher credit conditions, or global shocks could cap price growth and widen the affordability gap.
Essential information about Portugal's real estate market
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