Between january and march, Portugal posted a record increase in home prices due to strong demand and a housing shortage in the southern European nation.
Home prices rose 13% from a year earlier in the first quarter, according to the country’s statistics institute. That’s the biggest increase since the institute started collecting data on the housing market in 2010.
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“Portugal is definitely on the real estate world radar and has proven, more and more, that it is a market prepared not only to face challenges, but also to be at the forefront”, the JLL executive said.
“This is a sector that has already proved its resilience and attractiveness, facing, with distinction, different economic cycles over the last two decades and showing that it has the ability to reinvent itself”, he added.