Portugal ranks third in the world for the difficulty of acquiring real estate.

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The situation with access to housing in Portugal is worsening. In addition to the lack of affordable housing on the market amid high demand, which drives up housing prices, the country is now facing low purchasing power due to inflation and high mortgage interest rates. A study by MoneyTransfers, which examined 56 countries, concluded that Portugal ranks third in the world in terms of the difficulty of buying a home. By measuring housing prices (nominal) in relation to per capita disposable income, MoneyTransfers found that in the second quarter of 2023, Portugal was recognized as the third most difficult country in the world for housing access, with a rate of 169%. This means that housing price growth has outpaced income growth by 69% since 2015. The situation is only worse in Turkey (with an index of 197%) and Iceland (173%), according to the same study published last week.

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"Portugal is facing a serious housing crisis, partly due to the increase in property purchases by foreign individuals, but also due to the lack of new affordable housing," notes a study by MoneyTransfers, which also points out that, unlike Iceland, Portugal has more housing than people, although prices remain high.

It turns out that these homes are often not available on the market for sale or rent, whether due to unresolved inheritance issues, vacancies, or simply the need for repairs.

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The same study also highlights countries where access to housing is more affordable, meaning where income levels are rising faster than housing prices. "Globally, the average housing price increased by 3.0% in the last 12 months up to the second quarter of 2023. And 54 out of 56 countries tracked by the index continue to see growth. However, this will not hinder access to housing in those countries that are the most affordable markets in the world," the researchers explain.

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So where is it easiest to buy property on a global level? According to the same study, it's Brazil (66%), followed by Saudi Arabia (74%), Finland (91%), South Africa (92%), and Italy (92%).