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house prices hit new highs in portugal

Property prices in Portugal continue to rise with banks valuing homes at their highest levels since September 2008.

Data from the National Statistics office in Portugal (INE), found that the price per square metre for property across the country now averages €1,196, the highest level recorded for a decade.

According to Eco News, “The new record in price per square meter is accompanying the trend of increasing dynamism in the real estate sector in Portugal, making house prices rise exponentially. After almost hitting a 12% increase in the first quarter of 2018, the average sale price of a house in Portugal increased by 11.2% in the second quarter.

“Apartments are still the ones which present the highest prices. In comparison to the previous month, the average price of an apartment valuation increased by nine euros in the month of August, reaching €1.252 per square meter, whereas the townhouses’ valuation went up by €12 to €1.102 per square meter.”