House prices in Portugal will rise by 8 % per year

Housing prices in Portugal are expected to rise by more than 8% a year over the next 10 years, according to a study by the IFO Institute at the University of Munich in Germany, which highlighted the forecasts of more than a thousand economists about the future of the housing market around the world.

The data comes from the Survey of Economic Experts, a quarterly global survey of economic experts. They come at a time when house prices have slowed to 8.7% in the first quarter of 2023, the smallest annual increase since Q2 2021, according to the Institute for National Statistics' house price index.

Portugal, which according to a report by CNN Portugal should see house prices increase at an annual rate of 8.2% over the next ten years, is analyzed globally along with other southern European countries. Overall, the economists surveyed believe that home sale values in this region could increase by 10-15% over the next decade. However, this "quite high" average for southern Europe is mainly based "on expectations that economists have about Malta, Serbia and Albania," says Timo Wochner, a researcher at the IFO Institute.

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