How has the Portugal Real Estate Market Changed?

The increase in demand for real estate has noticed a drop of 13% in the stock of Portuguese properties available for sale in the first quarter of 2022 apart from the beginning, as a comparison to what was available in the same period in 2021. The most recent research confirms that the real estate sector in Portugal is booming.

 In 2021, the real estate market in Portugal noticed a hike of 13.8%. And one year ago, the increase was only 5%. The market will have grown by 20% by 2022, affecting those who were not interested in purchasing. Objects have become more commonly bought in small towns.

At the start of 2022, the average cost per square metre was 2,000€. The value of the new buildings was 1.5 times higher than the secondary market. It is just like paying 3088 € over 1871€ for a single-meter square.

 


The highest property prices were noticed in Real estate in Lisbon and Porto. On average, the cost of notice in the center of Lisbon is 4850 € per meter square, and the price was 3400 € in Porto. Apart from the highest prices, these cities account for nearly 60% of the real estate market.

According to National Institute Research, in 2021, the real estate demand for real estate in smaller cities like Sintra and Marfa increased. They are not included in the mass of Lisbon and Porto. These cities are located in nearby locations, 50km from the major cities.

The real estate market is experiencing a hike just because of domestic demand; the share of the transactions concluded with foreigners is 11% in 2021.

 The rental market in Portugal was 22% of all the real estate in the country was rented out, and it was 16% more than ten years ago.

 Porto, Algarve, and Lisbon have the highest rental prices. In Lisbon, the average price is 1265 € for real estate in the city center, and the price is 865 € in the other regions. In the Algarve, the amount was 1200 € and 750 € respectively. A fifth of those who want to rent housing in Portugal makes a monthly payment of more than 1000 €.

 Real estate programmes for investors

 From this January, the rules for purchasing the estate to participate in the residents' permit program in Portugal for investment. The minimum transaction amount was the same at 2,50,000 €. The main concern, however, is that investors will be unable to purchase residential property in Lisbon, Porto, and the resort region. Investors can only acquire residential, commercial, and residential real estate in the interior part of the company, the Azores and Madeira, and the commercial residences in Lisbon and Porto.

 


The real estate market in Lisbon and the coastal areas of Portugal is adopting the new culture of investment programmes. In 2022, the commercial property demand in Lisbon will be hiked by 20%, and the real estate in the hinterland by 25%.

In the commercial sector, there is a high demand for premises that can accommodate shops and offices. Such as real estate in residential complexes, where the objects can be leased for management and generate income. Real Estate Agency Lisbon can be a great option when you are thinking about finding a location for a dream home.

Location: Lisbon, Portugal

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