Expected 8.7% price growth in Portugal by 2024 despite Golden Visa changes'.

Portugal has adopted new changes to the Golden Visa program, part of the More Housing Project. However, this will not affect property values as house prices are forecast to increase by 8.7 percent next year, according to a report from Property Market-Index.

The same report shows that Lisbon and the Algarve are hot spots for real estate growth in Portugal, according to SchengenVisaInfo.com.The Property Market Index indicates that across the country, property prices have risen by an average of 6.5 percent over the past 12 months. However, in the Algarve, values rose by more than 15 percent over the same period. In Portugal's capital, as well as in the cities of Cascais, Estoril, Comporta and Sintra, real estate prices have also' 'real estate in this region has grown by more than 28 percent since 2020 and is expected to increase by another 19 percent by 2025.

The Golden Visa program has made a significant contribution to the Portuguese economy, especially in terms of real estate purchases. From October 2012, when the program was first introduced, to July 2023, a total of 12,497 Golden Visas have been issued in this country.

The program underwent some changes earlier this month, however, which were approved by the country's President Marcelo Rebelo de Souza as part of the More Housing program. Among them is the elimination of real estate investment options under the program.