Stabilization of real estate prices in Portugal.

In May, the real estate market in mainland Portugal stabilized, experiencing only a slight increase in sale prices. Over the month, they rose by just 0.6%. This continues the trend, as prices increased by 0.5% in April, according to the Residential Price Index, which tracks changes in property values in Portugal.

In the last two months, prices have stabilized, which is a change compared to the previous trend of rising prices that had been observed since January. At the beginning of the year, property values fluctuated sharply, exceeding the levels seen in the second half of 2022, and peaked at 2.1% in March.

Although in May prices remained 14.1% higher than in the same month of 2022, this is a decrease of about three percentage points from the record 17.0% annual growth observed from January to March. April already showed a slowdown in the rate of price growth with an annual increase of 16.3%. These findings indicate that the real estate market in Portugal is entering a period of stability, with prices beginning to slow their upward trend.

Although housing prices are still higher compared to last year, the rate of growth has been slowing down in recent months.

The Portugal News

We take pride in providing our readers from around the world with independent, honest, and unbiased news for free - both in our online version and in print. Our dedicated team supports the local community, foreign residents, and visitors of all nationalities through our newspaper, website, social media, and our newsletter.

We understand that not everyone has the means to pay for our services, but if you are able, we kindly ask you to support The Portugal News with a donation - no matter how small it may be.